715 N 3rd Ave E · Newton, IA 50208

$65,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 11 Days on market

Built 1920 8,712 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 +25.5/30.0
• DSCR +8.5/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Check out this 2 bedroom bungalow with good bones in an great location near shopping, restaurants and grocery stores. The home has a nice sized yard that's partially fenced, front and rear porches, and a large unfinished basement. Roofing is just a few years old! Sale is part of an estate. All personal property left in the home at closing will convey. House is being sold AS-IS. Inspection would be for buyer's knowledge only.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Metal siding; Brick/mortar foundation; Asphalt shingle roof
• Exterior features: Rectangular lot; Asphalt road frontage; Lot dimensions approximately 66 x 132

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Heating details available in remarks
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $65k).
• Cap rate 9.1% vs local median 3.1% in Newton — 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 77/100 on livability (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 11 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 $48k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $138,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Bungalow Ct	0.21mi	2/1.0	816 (-2%)	4mo	$60,000	$74	84
201 E 13th St N	0.41mi	2/1.0	816 (-2%)	0mo	$125,000	$153	77
1326 Crescent Dr	0.48mi	2/1.0	858 (+3%)	1mo	$92,000	$107	71
1112 N 8th Ave E	0.48mi	3/1.0 (+1)	816 (-2%)	2mo	$140,000	$172	68
431 S 6th Ave E	0.48mi	2/1.0	882 (+6%)	3mo	$70,000	$79	65
310 E 11th St N	0.29mi	1/1.0 (-1)	920 (+11%)	3mo	$117,900	$128	61
1108 N 6th Ave E	0.38mi	2/1.5	720 (-14%)	1mo	$134,500	$187	57
711 E 14th St N	0.57mi	3/2.0 (+1)	864 (+4%)	1mo	$187,000	$216	57
924 E 9th St N	0.52mi	3/2.0 (+1)	873 (+5%)	6mo	$215,000	$246	54
817 E 6th St N	0.42mi	2/1.0	946 (+14%)	6mo	$149,000	$158	52
724 S 4th Ave E	0.30mi	3/2.0 (+1)	952 (+14%)	3mo	$158,000	$166	50
1004 1st St N	0.68mi	2/1.0	742 (-11%)	5mo	$169,000	$228	46

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-762
• Equity at exit: $9,692

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $12,086
• Equity at exit: $5,620

Cash invested: $18,200 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $859 high
• Mortgage (P&I): −$341
• Tax from tax record: −$159 /mo · $1,903/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $152

Break-even live

Break-even rent $666

Max offer price $65,000

Occupancy floor 77%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 N 2nd Ave E Newton, IA	2.0	1.0	1100	$875	$0.80	14d	1	0.05mi
427 N 2nd Ave E Newton, IA	1.0	1.0	575	$599	$1.04	43d	1	0.19mi
126 E 5th St S Newton, IA	1.0	1.0	550	$599	$1.09	23d	1	0.23mi
605 E 7 1/2 St N Newton, IA	2.0	1.0	672	$1,200	$1.79	43d	1	0.24mi
726 E 8th St N Newton, IA	1.0	1.0	708	$895	$1.26	14d	1	0.36mi
723 E 6th St S Newton, IA	2.0	1.0	650	$775	$1.19	43d	1	0.56mi
320 W 3rd St N Unit 112 Newton, IA	2.0	2.0	845	$1,295	$1.53	14d	1	0.56mi
320 W 3rd St N Unit 207 Newton, IA	1.0	1.0	609	$1,050	$1.72	43d	1	0.56mi
602 E 2nd St S Newton, IA	2.0	1.0	750	$775	$1.03	43d	1	0.58mi
1026 E 12th St N Newton, IA	1.0	1.0	590	$625	$1.06	21d	1	0.69mi
1026 E 12th St N Newton, IA	2.0	1.0	780	$725	$0.93	14d	1	0.69mi
500 E 17th St S Unit 28 Newton, IA	2.0	1.0	850	$850	$1.00	21d	1	0.76mi
500 E 17th St S Unit 22 Newton, IA	2.0	1.0	850	$950	$1.12	21d	1	0.76mi
706 S 2nd Ave W Unit 706 Newton, IA	1.0	1.0	550	$625	$1.14	43d	1	0.88mi
1800 W 4th St N Newton, IA	1.0–3.0	1.0–2.0	792	$840	$1.06	13d	7	1.15mi
1798 W 4th St N Newton, IA	3.0	1.0	1008	$1,025	$1.02	13d	4	1.24mi
220 E 28th St N Newton, IA	2.0–3.0	2.0	877	$805	$0.92	13d	3	1.37mi
2305 E 19th St N Newton, IA	3.0	2.0	1140	$1,044	$0.92	13d	1	1.48mi

Listing history 6 events

1. 2026-05-31
   status $65,000 Pending 11 DOM
2. 2026-05-18
   listed $65,000 Active
3. 2025-02-11
   soldstatus $47,500
4. 2025-01-31
   soldstatus $47,500 Closed 446-char remark

   Show marketing remark (446 chars)

   INVESTOR SPECIAL! Check out this 2 bedroom bungalow with good bones in an great location near shopping, restaurants and grocery stores. The home has a nice sized yard that's partially fenced, front and rear porches, and a large unfinished basement. Roofing is just a few years old! Sale is part of an estate. All personal property left in the home at closing will convey. House is being sold AS-IS. Inspection would be for buyer's knowledge only.

5. 2025-01-02
   status Pending 446-char remark

   Show marketing remark (446 chars)

   INVESTOR SPECIAL! Check out this 2 bedroom bungalow with good bones in an great location near shopping, restaurants and grocery stores. The home has a nice sized yard that's partially fenced, front and rear porches, and a large unfinished basement. Roofing is just a few years old! Sale is part of an estate. All personal property left in the home at closing will convey. House is being sold AS-IS. Inspection would be for buyer's knowledge only.

6. 2024-12-27
   listed $55,000 Active 446-char remark

   Show marketing remark (446 chars)

   INVESTOR SPECIAL! Check out this 2 bedroom bungalow with good bones in an great location near shopping, restaurants and grocery stores. The home has a nice sized yard that's partially fenced, front and rear porches, and a large unfinished basement. Roofing is just a few years old! Sale is part of an estate. All personal property left in the home at closing will convey. House is being sold AS-IS. Inspection would be for buyer's knowledge only.

ⓘ 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: $1,903 · $159/mo
• Projected year-2 tax: $1,903 · $159/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $10,314
• − Mortgage interest: −$3,641
• − Property taxes: −$1,903
• − Insurance: −$325
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$1,891
• Taxable income: $904
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $1,613/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+18.2% since first listed

5 events — show timeline

• 2026-05-18 Listed $65,000 DMMLS
• 2025-02-11 Sold (Public Records) $47,500 Public Records
• 2025-01-31 Sold (MLS) $47,500 DMMLS
• 2025-01-02 Pending — DMMLS
• 2024-12-27 Listed $55,000 DMMLS

Property tax history

+9.0%/yr

Latest (2025): $1,903 · +99.4% YoY. Source: county tax records.