224 N Main St · Aurelia, IA 51005

$94,500

2 bd · 2.0 ba · 904 sqft · SingleFamily public records · 13 Days on market

Built 1949 5,227 sqft lot

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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 +20.2/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• DSCR +6.4/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Here is a well-maintained, move-in ready home located in downtown Aurelia. This two bedroom/ two bath home keeps you close to downtown activities yet has enough yard to have the feel of a quite single family home. Living area has beautiful hardwood flooring and custom woodwork including a built in cabinet. Two car alley access garage gives you storage space or off street parking. The full basement is very clean and dry and could be used as additional family space. Furnace, AC, and water heater are all up to date, Come take a look today.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1949

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (6.5% below list).
• Recommended offer: $88k (6.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#175 in IA, #3,147 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Market conditions: 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($653 loan paydown + $4k appreciation (3.9% local appreciation)).
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $71k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,355 (6.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $39,776
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Maple St	0.13mi	2/1.0	877 (-3%)	2mo	$35,000	$40	83
624 E 5th St	0.44mi	2/1.0	960 (+6%)	4mo	$42,500	$44	62

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

Projected returns pro-forma

3.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.90×
• Total profit: $23,682
• Equity at exit: $47,542

10-year hold

• IRR: 16.0%
• Equity multiple: 3.57×
• Total profit: $68,011
• Equity at exit: $77,465

Cash invested: $26,460 (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 51005

• Home prices YoY: 1.6%
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $884 medium
• Mortgage (P&I): −$496
• Tax from tax record: −$44 /mo · $528/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $119

Break-even live

Break-even rent $733

Max offer price $94,500

Occupancy floor 82%

Sensitivity live

Price	-10% $173	-5% $146	+0% $119	+5% $92	+10% $66
Rent	-10% $49	-5% $84	+0% $119	+5% $154	+10% $189
Rate	-1.0pp $167	-0.5pp $143	base $119	+0.5pp $95	+1.0pp $70

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-13
   listed $94,500 Active
3. 2024-09-25
   soldstatus $71,000 Closed 542-char remark

   Show marketing remark (542 chars)

   Here is a well-maintained, move-in ready home located in downtown Aurelia. This two bedroom/ two bath home keeps you close to downtown activities yet has enough yard to have the feel of a quite single family home. Living area has beautiful hardwood flooring and custom woodwork including a built in cabinet. Two car alley access garage gives you storage space or off street parking. The full basement is very clean and dry and could be used as additional family space. Furnace, AC, and water heater are all up to date, Come take a look today.

4. 2024-09-25
   soldstatus $71,000

   Show marketing remark (542 chars)

   Here is a well-maintained, move-in ready home located in downtown Aurelia. This two bedroom/ two bath home keeps you close to downtown activities yet has enough yard to have the feel of a quite single family home. Living area has beautiful hardwood flooring and custom woodwork including a built in cabinet. Two car alley access garage gives you storage space or off street parking. The full basement is very clean and dry and could be used as additional family space. Furnace, AC, and water heater are all up to date, Come take a look today.

5. 2024-08-26
   status Pending 542-char remark

   Show marketing remark (542 chars)

   Here is a well-maintained, move-in ready home located in downtown Aurelia. This two bedroom/ two bath home keeps you close to downtown activities yet has enough yard to have the feel of a quite single family home. Living area has beautiful hardwood flooring and custom woodwork including a built in cabinet. Two car alley access garage gives you storage space or off street parking. The full basement is very clean and dry and could be used as additional family space. Furnace, AC, and water heater are all up to date, Come take a look today.

6. 2024-08-10
   listed $79,900 Active 542-char remark

   Show marketing remark (542 chars)

   Here is a well-maintained, move-in ready home located in downtown Aurelia. This two bedroom/ two bath home keeps you close to downtown activities yet has enough yard to have the feel of a quite single family home. Living area has beautiful hardwood flooring and custom woodwork including a built in cabinet. Two car alley access garage gives you storage space or off street parking. The full basement is very clean and dry and could be used as additional family space. Furnace, AC, and water heater are all up to date, Come take a look today.

7. 2008-07-07
   soldstatus $15,000

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

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $528 · $44/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$478/yr (+$40/mo · 90.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,603
• − Mortgage interest: −$5,293
• − Property taxes: −$528
• − Insurance: −$472
• − Repairs & maintenance: −$848
• − Management: −$848
• − Depreciation: −$2,749
• Taxable loss: −$137
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $1,462/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.

Schools (NCES district)

No district data.

Livability — Aurelia

• Score: 77/100
• State rank: #175
• US rank: #3147

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurelia, IA
• Population (ZIP): 1,463

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Slovak 6% Portuguese 6% Estonian 3%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.93%
• Current HPI: 258.1719
• 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

+530.0% since first listed

7 events — show timeline

• 2026-04-27 Pending — NWIA
• 2026-04-13 Listed $94,500 NWIA
• 2024-09-25 Sold (Public Records) $71,000 Public Records
• 2024-09-25 Sold (MLS) $71,000 NWIA
• 2024-08-26 Pending — NWIA
• 2024-08-10 Listed $79,900 NWIA
• 2008-07-07 Sold (Public Records) $15,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $528 · +4.3% YoY. Source: county tax records.