310 N Mulberry St · Creston, IA 50801

$49,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 123 Days on market

Built 1898 Fair condition 7,405 sqft lot $51/sqft · 45% below area Est $89k · 45% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This two-bedroom one bath would make a great starter home, fixer upper, or investment property. The two bedrooms and one bath are located on the main floor with laundry in the basement. The back door enters into the spacious yard with privacy fence.

Key facts

• Spacious yard
• Investment property
• Privacy fence

Tags

• INVESTMENT PROPERTY
• SPACIOUS YARD
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 5.0% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Creston Elementary School (math 60% / reading 49%, grade C, #462 of 616 statewide, top 79%, 410 students, 55% FRL); Creston Middle School (math 65% / reading 74%, grade A, #113 of 246 statewide, top 49%, 291 students, 60% FRL); Creston High School (math 63% / reading 78%, grade B+, #140 of 336 statewide, top 43%, 532 students, 46% FRL).
• Market conditions: 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 2.03% ✓
• Cap rate: 17.11%
• Cash-on-cash: 38.64%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (median comp): $88,570
• List price: $49,000
• Delta: -44.68%
• 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
208 N Cherry St	0.16mi	3/1.0 (+1)	989 (+3%)	5mo	$50,000	$51	79
605 N Cedar St	0.28mi	2/2.0	960 (0%)	5mo	$163,000	$170	78
505 N Pine St	0.37mi	2/2.0	936 (-2%)	1mo	$146,000	$156	74
307 N Pine St	0.35mi	2/1.0	1,036 (+8%)	1mo	$65,000	$63	69
304 N Birch St	0.25mi	2/1.0	880 (-8%)	6mo	$20,000	$23	69
307 W Mills St	0.54mi	2/1.0	936 (-2%)	3mo	$95,000	$101	68
907 N Walnut St	0.55mi	2/2.0	988 (+3%)	0mo	$182,000	$184	65
303 W Mills St	0.52mi	2/1.0	997 (+4%)	6mo	$60,000	$60	64
409 N Oak St	0.54mi	2/1.0	914 (-5%)	4mo	$19,500	$21	63
606 N Elm St	0.54mi	3/1.0 (+1)	1,004 (+5%)	6mo	$115,000	$115	57
1001 N Poplar St	0.50mi	3/2.0 (+1)	1,080 (+12%)	2mo	$159,000	$147	45
302 S Division St	0.75mi	2/1.0	1,073 (+12%)	4mo	$115,000	$107	43

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: 34.8%
• Equity multiple: 2.47×
• Total profit: $20,214
• Equity at exit: $7,306

10-year hold

• IRR: 41.6%
• Equity multiple: 4.93×
• Total profit: $53,908
• Equity at exit: $4,237

Cash invested: $13,720 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 12 active · 17 under contract
• Months of supply: 4.2 mo (24%/mo absorbed)
• Median asking: $107,250 ($137/sqft)
• Median days on market: 126 d
• This list price: 8% of active listings are priced below it
• ARV vs active asking: -32.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50801

• Home prices YoY: -5.9%
• Active inventory: 133
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $442

Break-even live

Break-even rent $437

Max offer price $49,000

Occupancy floor 51%

Sensitivity live

Price	-10% $469	-5% $456	+0% $442	+5% $428	+10% $414
Rent	-10% $363	-5% $402	+0% $442	+5% $481	+10% $520
Rate	-1.0pp $466	-0.5pp $454	base $442	+0.5pp $429	+1.0pp $416

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: $12,250
• Closing costs: $1,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 W New York Ave Apt 5 Creston, IA	1.0	1.0	660	$775	$1.17	38d	1	0.94mi
100 S Peterson St Creston, IA	1.0–2.0	1.0	319	$1,515	$4.75	0d	1	1.06mi

Property features AI

Finance

• Other: Property located on the south side of E Howard Street off N Cherry Street

Exterior

• Parking: Other parking
• Utilities: Public sewer
• Home design: Single-family residenceResidential property
• Construction: Metal siding
• Exterior features: Wood privacy fencingLot approximately 60 x 120 (0.17 acres)

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: 1 full bathroom
• Interior features: RangeRefrigeratorWasherDryerBasementForced air heatingNo central cooling
• Laundry & utility: WasherDryer

Listing history 50 events

1. 2026-11-08
   days on market $49,000 Active 123 DOM
2. 2026-11-07
   days on market $49,000 Active 122 DOM
3. 2026-11-06
   days on market $49,000 Active 121 DOM
4. 2026-11-05
   days on market $49,000 Active 120 DOM
5. 2026-11-04
   days on market $49,000 Active 119 DOM
6. 2026-11-02
   days on market $49,000 Active 117 DOM
7. 2026-11-01
   days on market $49,000 Active 116 DOM
8. 2026-10-31
   days on market $49,000 Active 115 DOM
9. 2026-10-31
   days on market $49,000 Active 114 DOM
10. 2026-10-29
    days on market $49,000 Active 113 DOM
11. 2026-10-28
    days on market $49,000 Active 112 DOM
12. 2026-10-27
    days on market $49,000 Active 111 DOM
13. 2026-10-26
    days on market $49,000 Active 110 DOM
14. 2026-10-25
    days on market $49,000 Active 109 DOM
15. 2026-10-24
    days on market $49,000 Active 108 DOM
16. 2026-10-23
    days on market $49,000 Active 107 DOM
17. 2026-10-22
    days on market $49,000 Active 106 DOM
18. 2026-10-21
    days on market $49,000 Active 105 DOM
19. 2026-10-20
    days on market $49,000 Active 104 DOM
20. 2026-10-19
    days on market $49,000 Active 103 DOM
21. 2026-10-18
    days on market $49,000 Active 102 DOM
22. 2026-10-17
    days on market $49,000 Active 101 DOM
23. 2026-10-16
    days on market $49,000 Active 100 DOM
24. 2026-10-15
    days on market $49,000 Active 99 DOM
25. 2026-10-14
    days on market $49,000 Active 98 DOM
26. 2026-10-14
    days on market $49,000 Active 97 DOM
27. 2026-10-12
    days on market $49,000 Active 96 DOM
28. 2026-10-11
    days on market $49,000 Active 95 DOM
29. 2026-10-10
    days on market $49,000 Active 94 DOM
30. 2026-10-09
    days on market $49,000 Active 93 DOM
31. 2026-10-08
    days on market $49,000 Active 92 DOM
32. 2026-10-07
    days on market $49,000 Active 91 DOM
33. 2026-10-06
    days on market $49,000 Active 90 DOM
34. 2026-10-05
    days on market $49,000 Active 89 DOM
35. 2026-10-04
    days on market $49,000 Active 88 DOM
36. 2026-10-04
    days on market $49,000 Active 87 DOM
37. 2026-10-02
    days on market $49,000 Active 86 DOM
38. 2026-10-01
    days on market $49,000 Active 85 DOM
39. 2026-09-30
    days on market $49,000 Active 84 DOM
40. 2026-09-29
    days on market $49,000 Active 83 DOM
41. 2026-09-28
    days on market $49,000 Active 82 DOM
42. 2026-09-27
    days on market $49,000 Active 81 DOM
43. 2026-09-26
    days on market $49,000 Active 80 DOM
44. 2026-09-25
    days on market $49,000 Active 79 DOM
45. 2026-09-24
    days on market $49,000 Active 78 DOM
46. 2026-09-23
    days on market $49,000 Active 77 DOM
47. 2026-09-21
    days on market $49,000 Active 75 DOM
48. 2026-09-20
    days on market $49,000 Active 74 DOM
49. 2026-09-19
    days on market $49,000 Active 73 DOM
50. 2026-09-18
    days on market $49,000 Active 72 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: $814 · $68/mo
• Projected year-2 tax: $814 · $68/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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,954
• − Mortgage interest: −$2,745
• − Property taxes: −$814
• − Insurance: −$245
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$1,425
• Taxable income: $4,812
• Est. tax owed @ 24.0%: −$1,155
• After-tax cash flow: $4,146/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $24,000–$43,200 screening

This home requires significant repairs and updates to improve its condition and value. The roof, exterior siding, flooring, interior walls, and kitchen cabinets all need attention. Painting and replacing these items can significantly increase its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good Flooring tile

Deferred maintenance Est. $3,500–$14,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Hvac (hvac) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear
• Minor Other — No visible signs of damage or wear

Repairs flagged

• Major roof — Shingles appear worn and aged
• Major exterior siding — Siding shows significant wear
• Major flooring — Tile flooring in entryway appears worn
• Major interior walls — Paint appears chipped and faded
• Major kitchen cabinets — Cabinets appear dated and worn

Value-add opportunities

• Resale Paint exterior — Fresh paint can significantly improve curb appeal ↑
• Resale Paint interior walls — Fresh paint can improve the home's appearance and value ↑
• Both Replace flooring — New flooring can improve the home's appearance and increase its rental value ↑
• Both Replace kitchen cabinets — New cabinets can improve the home's appearance and increase its rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 70/100

Zoned Schools

Elementary Creston Early Childhood Center Middle Creston Middle School A IA #113/246 Nat'l #858/14,009 High Creston High School B+ IA #140/336 Nat'l #2,083/17,239

Schools (NCES district)

• District: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

A Composite livability gradescore 81/100

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• County: Union · 12,536 people
• Population (ZIP): 9,027
• Household income: $55,453
• Rent vs Own: 29.9% rent · 70.1% own

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Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

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Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Property features AI

Finance

• Other: Property located on the south side of E Howard Street off N Cherry Street

Exterior

• Parking: Other parking
• Utilities: Public sewer
• Home design: Single-family residenceResidential property
• Construction: Metal siding
• Exterior features: Wood privacy fencingLot approximately 60 x 120 (0.17 acres)

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: 1 full bathroom
• Interior features: RangeRefrigeratorWasherDryerBasementForced air heatingNo central cooling
• Laundry & utility: WasherDryer

Price history

+8.9% since first listed

2 events — show timeline

• 2026-07-08 Listed $49,000 IAR
• 2011-06-29 Sold (Public Records) $45,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $814 · +0.5% YoY. Source: county tax records.