205 Cherry St · Elliott, IA 51532

$27,000

3 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 130 Days on market

Built 1895 8,276 sqft lot $19/sqft · 62% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +4.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Foreclosure selling as is. great potential. Put in some sweat equity.

Key facts

• 8,276 sq ft lot
• Garage
• Built 1895

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $27k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#545 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: crime C-, amenities F, commute F.
• Griswold Community School District (rural): math 74% / reading 80% proficiency, ranked #54 of 289 in IA (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 3 active listings in the ZIP; 13 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2 of equity ($187 loan paydown + $-185 appreciation (-0.7% local appreciation)).
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $3k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 4.45% ✓
• Cap rate: 40.21%
• Cash-on-cash: 121.12%
• DSCR: 6.39
• GRM: 1.9

CMA / ARV

• ARV (median comp): $71,006
• List price: $27,000
• Delta: -61.98%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Cherry St	0.00mi	3/1.0	1,404 (0%)	2mo	$25,500	$18	99
100 Elm St	0.18mi	3/1.5	1,550 (+10%)	3mo	$75,000	$48	70

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

Projected returns pro-forma

-0.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.0%
• Equity multiple: 3.37×
• Total profit: $17,929
• Equity at exit: $6,925

10-year hold

• IRR: 52.5%
• Equity multiple: 6.85×
• Total profit: $44,258
• Equity at exit: $7,626

Cash invested: $7,560 (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 51532

• Home prices YoY: -0.5%
• Active inventory: 3
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,202 medium
• Mortgage (P&I): −$142
• Tax est. 1.5%: −$34 /mo · $405/yr
• Insurance: −$11
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $303

Break-even live

Break-even rent $819

Max offer price $27,000

Occupancy floor 70%

Sensitivity live

Price	-10% $321	-5% $312	+0% $303	+5% $293	+10% $284
Rent	-10% $208	-5% $255	+0% $303	+5% $350	+10% $398
Rate	-1.0pp $316	-0.5pp $310	base $303	+0.5pp $296	+1.0pp $289

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-07
   statusdays on market $27,000 Pending 130 DOM
2. 2026-06-05
   days on market $27,000 Active 128 DOM
3. 2026-06-03
   days on market $27,000 Active 127 DOM
4. 2026-06-02
   days on market $27,000 Active 126 DOM
5. 2026-06-01
   days on market $27,000 Active 125 DOM
6. 2026-05-31
   days on market $27,000 Active 124 DOM
7. 2026-05-31
   days on market $27,000 Active 123 DOM
8. 2026-04-30
   soldstatus $25,500 Closed 69-char remark

   Show marketing remark (69 chars)

   Foreclosure selling as is. great potential. Put in some sweat equity.

9. 2026-04-07
   status Pending 69-char remark

   Show marketing remark (69 chars)

   Foreclosure selling as is. great potential. Put in some sweat equity.

10. 2026-04-03
    price $27,000 69-char remark

    Show marketing remark (75 chars)

    Foreclosure. Selling as-is. Fix and flip or remodel and build sweat equity.

11. 2026-04-03
    price $27,000 75-char remark

    Show marketing remark (75 chars)

    Foreclosure. Selling as-is. Fix and flip or remodel and build sweat equity.

12. 2026-03-04
    price $28,500 69-char remark

    Show marketing remark (69 chars)

    Foreclosure selling as is. great potential. Put in some sweat equity.

13. 2026-03-02
    price $28,500 75-char remark

    Show marketing remark (75 chars)

    Foreclosure. Selling as-is. Fix and flip or remodel and build sweat equity.

14. 2026-01-27
    listed $30,000 Active 75-char remark

    Show marketing remark (69 chars)

    Foreclosure selling as is. great potential. Put in some sweat equity.

15. 2026-01-27
    listed $30,000 Active 69-char remark

    Show marketing remark (69 chars)

    Foreclosure selling as is. great potential. Put in some sweat equity.

16. 2020-09-24
    soldstatus $30,000
17. 2020-09-23
    soldstatus $30,000
18. 2020-05-11
    listed $32,000
19. 2016-01-15
    soldstatus $14,700
20. 2015-07-29
    listed $17,600

ⓘ 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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $14,425
• − Mortgage interest: −$1,512
• − Property taxes: −$405
• − Insurance: −$5,660
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$785
• Taxable income: $3,754
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $2,731/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: Griswold Community School District
• NCES district ID: 1913230
• Math proficiency: 74% ▲ 1.00%
• Reading proficiency: 80% ▼ -1.00%
• Median HH income: $48,914
• Composite: 65.05/100
• National rank: #500
• State rank: #54 of 289 in IA

Livability — Elliott

• Score: 66/100
• State rank: #545
• US rank: #12209

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elliott, IA
• Population (ZIP): 629

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 9,518 people
• By 2030: 9,116 · -4.2%
• By 2040: 8,303 · -12.8%
• By 2050: 7,595 · -20.2%
• By 2075: 6,568 · -31.0%
• By 2100: 5,800 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 3% Portuguese 3% Serbian 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+39.1) · D 29.8% · R 68.9% · Other 1.3%
• 2008→2024 swing: -28.5pp toward R · 2008: -10.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+39.0 2016: R+42.4 2012: R+21.6 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.69%
• Current HPI: 149.1955
• 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

+44.9% since first listed

13 events — show timeline

• 2026-04-30 Sold (MLS) $25,500 DMMLS
• 2026-04-07 Pending — DMMLS
• 2026-04-03 Price Changed $27,000 DMMLS
• 2026-04-03 Price Changed $27,000 IAR
• 2026-03-04 Price Changed $28,500 DMMLS
• 2026-03-02 Price Changed $28,500 IAR
• 2026-01-27 Listed $30,000 IAR
• 2026-01-27 Listed $30,000 DMMLS
• 2020-09-24 Sold (Public Records) $30,000 Public Records
• 2020-09-23 Sold (MLS) $30,000 SWIAR
• 2020-05-11 Listed $32,000 SWIAR
• 2016-01-15 Sold (MLS) $14,700 SWIAR
• 2015-07-29 Listed $17,600 SWIAR

Property tax history

+4.0%/yr

Latest (2025): $1,848 · +3.0% YoY. Source: county tax records.