503 D Ave · Vinton, IA 52349

$165,000

None bd · None ba · 3,700 sqft · MultiFamily · 565 Days on market

Built 1900 Average condition 10,019 sqft lot $45/sqft · 14% above area Est $145k · 14% over ↓ 11% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.1/30.0
• DSCR +7.8/10.0
• Schools +6.6/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

Key facts

• 5 units
• 0.23 acre lot
• Built 1900

Tags

• 5 UNITS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $165k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive. Per door: $163/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.0% in Vinton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#88 in IA, #1,848 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: employment C-, amenities F, commute F.
• Vinton-Shellsburg Community School District (rural): math 79% / reading 77% proficiency, ranked #43 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 62 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 565 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 565 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $145,000
• List price: $165,000
• Delta: 13.79%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 D Ave	0.00mi	—/—	3,700 (0%)	0mo	$145,000	$39	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-5,948
• Equity at exit: $24,602

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $21,667
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 52349

• Home prices YoY: -29.0%
• Active inventory: 62
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $1,856 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $326

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 77%

Sensitivity live

Price	-10% $440	-5% $383	+0% $326	+5% $269	+10% $212
Rent	-10% $179	-5% $253	+0% $326	+5% $399	+10% $473
Rate	-1.0pp $409	-0.5pp $368	base $326	+0.5pp $283	+1.0pp $240

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$1,856
Total (2 units)			$1,856

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-09
   days on market $165,000 Active 565 DOM
2. 2026-06-08
   days on market $165,000 Active 564 DOM
3. 2026-06-07
   days on market $165,000 Active 563 DOM
4. 2026-06-07
   days on market $165,000 Active 562 DOM
5. 2026-06-04
   days on market $165,000 Active 559 DOM
6. 2026-06-02
   days on market $165,000 Active 558 DOM
7. 2026-06-01
   days on market $165,000 Active 557 DOM
8. 2026-05-31
   days on market $165,000 Active 556 DOM
9. 2026-05-31
   days on market $165,000 Active 555 DOM
10. 2026-05-05
    status Active 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

11. 2026-04-25
    historical 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

12. 2025-12-16
    status Active 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

13. 2025-12-06
    historical 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

14. 2025-10-16
    price $165,000 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

15. 2025-06-05
    status Active 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

16. 2025-06-02
    historical 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

17. 2024-11-01
    listed $185,000 Active 236-char remark

    Show marketing remark (236 chars)

    Two separate buildings make up this 5 unit complex. The home has three units and the duplex is separate from the home and has a 2 stall garage. This property has long-term renters and income potential. Call Mike for details 319-560-1810

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,272
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$4,800
• Taxable income: $1,366
• Est. tax owed @ 24.0%: −$328
• After-tax cash flow: $3,584/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 8 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to improve the curb appeal and value of this multi-family property. Painting and landscaping are key areas for improvement.

Repairs flagged

• Minor Landscaping — Some areas appear overgrown.
• Minor Exterior paint — Slight discoloration visible on siding and trim.

Value-add opportunities

• Both Painting exterior — Fresh paint would improve curb appeal and value.
• Both Landscaping — Well-maintained landscaping enhances curb appeal and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Some areas appear overgrown.	Minor	$500–3,000
Exterior paint · Slight discoloration visible on siding and trim.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior — Fresh paint would improve curb appeal and value. ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Vinton-Shellsburg Community School District
• NCES district ID: 1929310
• Math proficiency: 79% ▼ -6.00%
• Reading proficiency: 77% ▼ -1.00%
• Median HH income: $52,023
• Composite: 66.21/100
• National rank: #430
• State rank: #43 of 289 in IA

Livability — Vinton

• Score: 80/100
• State rank: #88
• US rank: #1848

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vinton, IA
• Population (ZIP): 7,745

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 7% Italian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.56%
• Current HPI: 197.3164
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-10.8% since first listed

8 events — show timeline

• 2026-05-05 Relisted — CRAAR, CDRMLS
• 2026-04-25 Delisted — CRAAR, CDRMLS
• 2025-12-16 Relisted — CRAAR, CDRMLS
• 2025-12-06 Delisted — CRAAR, CDRMLS
• 2025-10-16 Price Changed $165,000 CRAAR, CDRMLS
• 2025-06-05 Relisted — CRAAR, CDRMLS
• 2025-06-02 Delisted — CRAAR, CDRMLS
• 2024-11-01 Listed $185,000 CRAAR, CDRMLS