614 Division St · Webster City, IA 50595

$169,900

3 bd · 2.0 ba · 2,526 sqft · MultiFamily public records · 57 Days on market

Built 1898 6,534 sqft lot $67/sqft · at area comps Est $178k · at est. ↓ 3% since listing

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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 +26.1/30.0
• ARV discount +9.6/15.0
• DSCR +8.8/10.0
• 1% rule +6.8/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming 3 bedroom / 2 bathroom - Two Family conversion within walking distance from schools, Fuller Hall, downtown shopping and restaurants. This home has several rooms with the original hardwood as well as updated kitchens and bathrooms on each level. Separate entries allow for using this as a Two-Family home if desired or continue to rent as a VRBO. Sewer and water lines recently updated. Call today to schedule a showing. Listing agent is related to Seller.

Key facts

• Used as a duplex
• Used as a vrbo
• Two water heaters

Tags

• MULTI GENERATIONAL LIVING
• USED AS A DUPLEX
• USED AS A VRBO
• TWO WATER HEATERS
• BREAKER PANELS
• FURNACE FOR MAIN LEVEL

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single-family residence; Three or more levels
• Construction: Wood siding construction
• Exterior features: Lot approximately 0.15 acres (50 x 130); Wood siding

Interior

• Kitchen: Refrigerator
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fireplace (1); Basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.3% in Webster City — 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 78/100 on livability (#137 in IA, #2,493 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Webster City Community School District (town): math 60% / reading 60% proficiency, ranked #250 of 289 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 83 active listings in the ZIP; 29 units permitted in Hamilton County in 2024 (5 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 $5k of value loss. Plan a longer hold.
• Hamilton County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 7.1

CMA / ARV

• ARV (median comp): $178,143
• List price: $169,900
• Delta: -4.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-79
• Equity at exit: $25,333

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $35,332
• Equity at exit: $14,690

Cash invested: $47,572 (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 50595

• Home prices YoY: -20.7%
• Active inventory: 83
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $2,008 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$194 /mo · $2,326/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $431

Break-even live

Break-even rent $1,463

Max offer price $169,900

Occupancy floor 74%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,007
Total (3 units)			$2,008

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $169,900 Active 57 DOM
2. 2026-06-18
   days on market $169,900 Active 56 DOM
3. 2026-06-17
   days on market $169,900 Active 55 DOM
4. 2026-06-16
   days on market $169,900 Active 54 DOM
5. 2026-06-15
   days on market $169,900 Active 53 DOM
6. 2026-06-14
   days on market $169,900 Active 51 DOM
7. 2026-06-12
   days on market $169,900 Active 50 DOM
8. 2026-06-09
   days on market $169,900 Active 47 DOM
9. 2026-06-08
   days on market $169,900 Active 46 DOM
10. 2026-06-07
    days on market $169,900 Active 45 DOM
11. 2026-06-03
    days on market $169,900 Active 41 DOM
12. 2026-06-02
    days on market $169,900 Active 40 DOM
13. 2026-06-01
    days on market $169,900 Active 39 DOM
14. 2026-05-31
    days on market $169,900 Active 38 DOM
15. 2026-05-30
    days on market $169,900 Active 37 DOM
16. 2026-04-23
    listed $169,900 Active 713-char remark
17. 2023-05-30
    soldstatus $165,500
18. 2023-05-25
    soldstatus $165,500 Closed

    Show marketing remark (464 chars)

    Charming 3 bedroom / 2 bathroom - Two Family conversion within walking distance from schools, Fuller Hall, downtown shopping and restaurants. This home has several rooms with the original hardwood as well as updated kitchens and bathrooms on each level. Separate entries allow for using this as a Two-Family home if desired or continue to rent as a VRBO. Sewer and water lines recently updated. Call today to schedule a showing. Listing agent is related to Seller.

19. 2023-05-24
    status Pending

    Show marketing remark (464 chars)

    Charming 3 bedroom / 2 bathroom - Two Family conversion within walking distance from schools, Fuller Hall, downtown shopping and restaurants. This home has several rooms with the original hardwood as well as updated kitchens and bathrooms on each level. Separate entries allow for using this as a Two-Family home if desired or continue to rent as a VRBO. Sewer and water lines recently updated. Call today to schedule a showing. Listing agent is related to Seller.

20. 2023-02-24
    listed $169,000 Active

    Show marketing remark (464 chars)

    Charming 3 bedroom / 2 bathroom - Two Family conversion within walking distance from schools, Fuller Hall, downtown shopping and restaurants. This home has several rooms with the original hardwood as well as updated kitchens and bathrooms on each level. Separate entries allow for using this as a Two-Family home if desired or continue to rent as a VRBO. Sewer and water lines recently updated. Call today to schedule a showing. Listing agent is related to Seller.

21. 2021-05-21
    listed $174,900

ⓘ 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: $2,326 · $194/mo
• Projected year-2 tax: $2,497 · $208/mo
• Expected delta: +$171/yr (+$14/mo · 7.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $24,096
• − Mortgage interest: −$9,517
• − Property taxes: −$2,326
• − Insurance: −$850
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$4,943
• Taxable income: $2,606
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $4,543/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: Webster City Community School District
• NCES district ID: 1930630
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 60% ▲ 2.00%
• Median HH income: $45,510
• Composite: 50.65/100
• National rank: #1831
• State rank: #250 of 289 in IA

Livability — Webster City

• Score: 78/100
• State rank: #137
• US rank: #2493

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Webster City, IA
• City population: 8,768
• Population (ZIP): 8,768

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 14,602 people
• By 2030: 14,210 · -2.7%
• By 2040: 13,312 · -8.8%
• By 2050: 12,469 · -14.6%
• By 2075: 11,449 · -21.6%
• By 2100: 10,806 · -26.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 15% Two or more races 8% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 10% Lithuanian 2% Iranian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Hamilton

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.1% · Other 1.1%
• 2008→2024 swing: -34.6pp toward R · 2008: 1.3pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+26.6 2016: R+22.9 2012: R+2.7 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.55%
• Current HPI: 182.2704
• 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

-2.9% since first listed

6 events — show timeline

• 2026-04-23 Listed $169,900 IAR
• 2023-05-30 Sold (Public Records) $165,500 Public Records
• 2023-05-25 Sold (MLS) $165,500 IAR
• 2023-05-24 Pending — IAR
• 2023-02-24 Listed $169,000 IAR
• 2021-05-21 Listed $174,900 IAR

Property tax history

+8.0%/yr

Latest (2025): $2,326 · +0.2% YoY. Source: county tax records.