706 Filmore Ave SE · Bondurant, IA 50035

$202,860

3 bd · 3.5 ba · 1,382 sqft · SingleFamily public records · 21 Days on market

Built 2003 7,800 sqft lot $147/sqft · 24% below area Est $266k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• Schools +6.2/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready 4 bedroom home in Bondurant is perfect size for a family. New roof being put on home first part of August. New furnace in 2015. Approx. 2000 square feet of finish. This home features a vaulted living room and a nice family room with fireplace. The kitchen's backsplash is striking. Upstairs there are 3 bedrooms, including a large vaulted master suite with walk-in closet. The finished basement includes a large family room, bathroom and a fourth bedroom. This home is in a wonderful neighborhood. Schedule a showing today. You will not be disappointed!

Key facts

• 7,800 sq ft lot
• 2 garage spots
• Built 2003

Property features AI

Exterior

• Parking: Attached two-car garage
• Utilities: Public water
• Home design: Two-story home; Vinyl siding
• Construction: Built with vinyl siding; Asphalt shingle roof; Poured foundation; Approximately 700 sq ft finished below grade
• Exterior features: Concrete road access; Lot dimensions approximately 65 x 120

Interior

• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced-air gas heating (natural gas)
• Interior features: Dining area; Eat-in kitchen; Finished basement; Gas log fireplace (1)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $203k.

Deal economics

• At list price, monthly cash flow is $-78 ($-938/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (5.0% below list).
• Recommended offer: $189k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.1% in Bondurant — 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 76/100 on livability (#205 in IA, #3,724 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Bondurant-Farrar Community School District (rural): math 68% / reading 75% proficiency, ranked #89 of 289 in IA (top 31%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 252 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,953 units permitted in Polk County in 2024 (540 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 $6k of value loss. Plan a longer hold.
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $189,056 (6.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• GRM: 8.8

CMA / ARV

• ARV (median comp): $265,616
• List price: $202,860
• Delta: -23.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 Filmore Ave SE	0.00mi	4/3.5 (+1)	1,382 (0%)	0mo	$202,860	$147	95
505 Cleveland Ave SE	0.12mi	3/2.5	1,433 (+4%)	3mo	$305,000	$213	82
438 4th St SE	0.20mi	3/2.5	1,430 (+4%)	0mo	$346,000	$242	81
406 3rd St SE	0.26mi	3/2.5	1,444 (+4%)	1mo	$305,000	$211	76
1003 Lincoln St SE	0.15mi	3/1.0	1,270 (-8%)	2mo	$245,000	$193	68
511 11th Ct SE	0.08mi	3/1.5	1,256 (-9%)	7mo	$233,770	$186	67
910 Lincoln Ct SE	0.21mi	3/1.0	1,260 (-9%)	2mo	$216,500	$172	63
1004 Dee St SE	0.36mi	4/3.0 (+1)	1,495 (+8%)	4mo	$338,000	$226	60
500 15th St SE	0.45mi	3/2.0	1,462 (+6%)	4mo	$277,000	$189	59
901 Dee St SE	0.36mi	4/3.0 (+1)	1,498 (+8%)	4mo	$323,990	$216	59
1339 Joshua Cir SE	0.62mi	3/2.0	1,421 (+3%)	4mo	$315,000	$222	57
908 14th St SE	0.45mi	4/3.0 (+1)	1,514 (+10%)	1mo	$330,000	$218	55

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: -18.9%
• Equity multiple: 0.34×
• Total profit: $-37,698
• Equity at exit: $30,247

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-38,623
• Equity at exit: $17,540

Cash invested: $56,801 (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 50035

• Home prices YoY: -19.9%
• Active inventory: 252
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$1,064
• Tax from tax record: −$452 /mo · $5,418/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-78

Break-even live

Break-even rent $2,025

Max offer price $189,056

Occupancy floor 99%

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: $50,715
• Closing costs: $6,086
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1024 Cove St SE Bondurant, IA	4.0	2.5	1850	$2,395	$1.29	23d	1	0.25mi
1319 Kadin Trl Bondurant, IA	3.0	1.0	1008	$1,210	$1.20	43d	1	0.37mi
121 Buffalo Ave SW Bondurant, IA	3.0	2.5	1404	$1,995	$1.42	14d	1	1.42mi

Listing history 13 events

1. 2026-05-15
   status Pending 659-char remark
2. 2026-04-24
   listed $202,860 Active 659-char remark
3. 2017-09-20
   soldstatus $216,000
4. 2017-09-19
   soldstatus $216,000 567-char remark

   Show marketing remark (567 chars)

   Move in ready 4 bedroom home in Bondurant is perfect size for a family. New roof being put on home first part of August. New furnace in 2015. Approx. 2000 square feet of finish. This home features a vaulted living room and a nice family room with fireplace. The kitchen's backsplash is striking. Upstairs there are 3 bedrooms, including a large vaulted master suite with walk-in closet. The finished basement includes a large family room, bathroom and a fourth bedroom. This home is in a wonderful neighborhood. Schedule a showing today. You will not be disappointed!

5. 2017-07-18
   listed $220,000 567-char remark

   Show marketing remark (567 chars)

   Move in ready 4 bedroom home in Bondurant is perfect size for a family. New roof being put on home first part of August. New furnace in 2015. Approx. 2000 square feet of finish. This home features a vaulted living room and a nice family room with fireplace. The kitchen's backsplash is striking. Upstairs there are 3 bedrooms, including a large vaulted master suite with walk-in closet. The finished basement includes a large family room, bathroom and a fourth bedroom. This home is in a wonderful neighborhood. Schedule a showing today. You will not be disappointed!

6. 2017-06-27
   historical
7. 2017-06-07
   listed $215,000
8. 2017-06-01
   historical
9. 2017-02-28
   historical
10. 2017-02-27
    listed $200,000
11. 2016-11-07
    listed $210,000
12. 2008-05-13
    soldstatus $165,000
13. 2007-10-26
    listed $165,000

ⓘ 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: $5,418 · $452/mo
• Projected year-2 tax: $5,418 · $452/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $23,115
• − Mortgage interest: −$11,363
• − Property taxes: −$5,418
• − Insurance: −$1,014
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − Depreciation: −$5,901
• Taxable loss: −$4,281
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $90/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)

• District: Bondurant-Farrar Community School District
• NCES district ID: 1905070
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 75% ▲ 1.00%
• Median HH income: $67,433
• Composite: 62.25/100
• National rank: #701
• State rank: #89 of 289 in IA

Livability — Bondurant

• Score: 76/100
• State rank: #205
• US rank: #3724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bondurant, IA
• City population: 9,668
• Population (ZIP): 9,668

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Portuguese 7% Iranian 4% Swiss 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.18%
• Current HPI: 237.4352
• 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

+22.9% since first listed

14 events — show timeline

• 2026-06-12 Sold (MLS) $202,860 DMMLS
• 2026-05-15 Pending — DMMLS
• 2026-04-24 Listed $202,860 DMMLS
• 2017-09-20 Sold (Public Records) $216,000 Public Records
• 2017-09-19 Sold (MLS) $216,000 DMMLS
• 2017-07-18 Listed $220,000 DMMLS
• 2017-06-27 Listing Removed — DMMLS
• 2017-06-07 Listed $215,000 DMMLS
• 2017-06-01 Listing Removed — DMMLS
• 2017-02-28 Listing Removed — DMMLS
• 2017-02-27 Listed $200,000 DMMLS
• 2016-11-07 Listed $210,000 DMMLS
• 2008-05-13 Sold (MLS) $165,000 DMMLS
• 2007-10-26 Listed $165,000 DMMLS

Property tax history

+8.6%/yr

Latest (2025): $5,418 · +2.3% YoY. Source: county tax records.