209 Hayes St W · Hazleton, IA 50641

$119,500

4 bd · 1.5 ba · 2,080 sqft · SingleFamily public records · 15 Days on market

Built 1900 2.91 ac lot

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Why this score? — see what drove the B- 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Small-Town Living with Room to Roam! This spacious 4-bedroom home sits on an impressive 2.91 acres across two parcels, offering the rare opportunity to enjoy the space and privacy of an acreage while still being conveniently located in town. Step inside to find a large kitchen with plenty of room for gathering, a formal dining room perfect for hosting family dinners and holiday celebrations, and spacious living areas designed for comfortable everyday living. The attached 2-stall garage adds convenience, while the newer steel roofs on both the home and garage provide peace of mind for years to come. Outside, you'll love having nearly 3 acres to enjoy—whether you dream of gardening, outdoor entertaining, or simply having room for kids and pets to play. Located in the heart of Iowa's Amish Country, Hazelton offers a unique lifestyle surrounded by locally-owned bakeries, fresh food markets, handcrafted furniture shops, and the quiet beauty of rural Northeast Iowa. If you've been searching for a property that offers space, character, and small-town charm, this is one you won't want to miss!

Key facts

• 2.91 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Attached garage; Off-street and guest parking available
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels / 2 stories
• Construction: Aluminum siding with frame construction; Block foundation
• Exterior features: Approximately 2.91 acres lot; Off-street parking; Guest parking

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Hot water heating
• Interior features: Dishwasher; Electric water heater; Range; Refrigerator; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#813 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oelwein Community School District (town): math 47% / reading 55% proficiency, ranked #281 of 289 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oelwein Middle School (math 44% / reading 54%, grade C-, #219 of 246 statewide, top 90%, 359 students, 60% FRL); Oelwein High School (math 46% / reading 62%, grade C-, #293 of 336 statewide, top 87%, 314 students, 46% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 5 active listings in the ZIP; 19 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($826 loan paydown + $3k appreciation (2.5% local appreciation)).
• Buchanan County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,707 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.09% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $72,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Hayes St E	0.39mi	4/1.0	1,862 (-10%)	15mo	$65,000	$35	50

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

Projected returns pro-forma

2.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.88×
• Total profit: $29,347
• Equity at exit: $50,325

10-year hold

• IRR: 17.8%
• Equity multiple: 3.48×
• Total profit: $83,029
• Equity at exit: $75,004

Cash invested: $33,460 (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 50641

• Home prices YoY: 1.3%
• Active inventory: 5
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$66 /mo · $794/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $286

Break-even live

Break-even rent $940

Max offer price $119,500

Occupancy floor 73%

Sensitivity live

Price	-10% $353	-5% $319	+0% $286	+5% $252	+10% $218
Rent	-10% $183	-5% $234	+0% $286	+5% $337	+10% $388
Rate	-1.0pp $346	-0.5pp $316	base $286	+0.5pp $255	+1.0pp $223

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $119,500 Active 15 DOM
2. 2026-06-18
   days on market $119,500 Active 13 DOM
3. 2026-06-17
   days on market $119,500 Active 12 DOM
4. 2026-06-16
   days on market $119,500 Active 11 DOM
5. 2026-06-15
   days on market $119,500 Active 10 DOM
6. 2026-06-13
   days on market $119,500 Active 8 DOM
7. 2026-06-12
   days on market $119,500 Active 7 DOM
8. 2026-06-09
   days on market $119,500 Active 4 DOM
9. 2026-06-08
   days on market $119,500 Active 3 DOM
10. 2026-06-07
    days on market $119,500 Active 2 DOM
11. 2026-06-07
    remarks 693-char remark
12. 2026-06-07
    listed $119,500 Active 1 DOM

ⓘ 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: $794 · $66/mo
• Projected year-2 tax: $1,335 · $111/mo
• Expected delta: +$541/yr (+$45/mo · 68.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $15,618
• − Mortgage interest: −$6,694
• − Property taxes: −$794
• − Insurance: −$598
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$3,476
• Taxable income: $1,557
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $3,053/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: Oelwein Community School District
• NCES district ID: 1921630
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $39,812
• Composite: 42.61/100
• National rank: #3189
• State rank: #281 of 289 in IA

Livability — Hazleton

• Score: 60/100
• State rank: #813
• US rank: #18681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazleton, IA
• Population (ZIP): 1,665

Population outlook (Buchanan County) Hauer SSP2

• Today (2025): 20,892 people
• By 2030: 20,578 · -1.5%
• By 2040: 19,906 · -4.7%
• By 2050: 19,024 · -8.9%
• By 2075: 16,289 · -22.0%
• By 2100: 12,561 · -39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Iranian 3% Portuguese 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 78% English-only · German/W. Germanic 21% Spanish 1%

Political lean MEDSL · Buchanan

• 2024 margin: Strong R (+28.2) · D 35.1% · R 63.4% · Other 1.5%
• 2008→2024 swing: -46.7pp toward R · 2008: 18.5pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.9 2016: R+15.2 2012: D+13.9 2008: D+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.49%
• Current HPI: 196.7411
• 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

-66.0% since first listed

3 events — show timeline

• 2026-06-05 Listed $119,000 NEIRBR as distributed by MLS GRID
• 2026-06-05 Listed $119,500 CRAAR, CDRMLS
• 2022-09-23 Sold (Public Records) $350,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $794 · +4.2% YoY. Source: county tax records.