304 S Eaton Ave · Humeston, IA 50123

$89,900

3 bd · 2.0 ba · 1,481 sqft · SingleFamily public records · 10 Days on market

Built 1920 Est $136k · 34% under

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +5.2/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming Victorian-Style Humeston Fixer-Upper with Incredible Potential! Discover the perfect opportunity to build sweat equity with this spacious 3-bedroom, 2-bathroom Victorian-style home located on a prime corner lot in Humeston, Iowa. Priced to sell at just $89,900, this property is completely livable now, allowing you to move in and enjoy its classic character while updating at your own pace. Big-ticket upgrades are already done, featuring a brand-new roof and an attached 1-car garage for your convenience. Enjoy small-town living at its finest with a welcoming covered front porch & acirc; & euro; & rdquo; perfect for sitting chairs & acirc; & euro; & rdquo; and

Key facts

• Covered front porch
• Large back deck
• Corner lot

Tags

• CORNER LOT
• COVERED FRONT PORCH
• LARGE BACK DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 64/100 on livability (#623 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Mormon Trail Community School District (rural): math 55% / reading 65% proficiency, ranked #284 of 330 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 6 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Wayne County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.23% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.41%
• DSCR: 1.60
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $136,252
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 S Eaton Ave	0.03mi	3/2.0	1,410 (-5%)	15mo	$167,500	$119	78
430 S Front St	0.18mi	2/1.0 (-1)	1,330 (-10%)	0mo	$60,000	$45	65
103 Wayne St	0.33mi	3/1.0	1,632 (+10%)	15mo	$100,000	$61	51
404 Guy Porter St	0.17mi	3/1.0	1,276 (-14%)	22mo	$117,000	$92	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: 20.1%
• Equity multiple: 2.14×
• Total profit: $28,748
• Equity at exit: $40,423

10-year hold

• IRR: 21.3%
• Equity multiple: 4.07×
• Total profit: $77,242
• Equity at exit: $62,297

Cash invested: $25,172 (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 50123

• Active inventory: 5
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $281

Break-even live

Break-even rent $752

Max offer price $89,900

Occupancy floor 70%

Sensitivity live

Price	-10% $332	-5% $307	+0% $281	+5% $256	+10% $230
Rent	-10% $194	-5% $238	+0% $281	+5% $325	+10% $369
Rate	-1.0pp $327	-0.5pp $304	base $281	+0.5pp $258	+1.0pp $234

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $89,900 Active 10 DOM
2. 2026-06-18
   days on market $89,900 Active 8 DOM
3. 2026-06-17
   days on market $89,900 Active 7 DOM
4. 2026-06-16
   days on market $89,900 Active 6 DOM
5. 2026-06-15
   days on market $89,900 Active 5 DOM
6. 2026-06-13
   days on market $89,900 Active 3 DOM
7. 2026-06-12
   remarks 675-char remark
8. 2026-06-12
   listed $89,900 Active 2 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: $1,024 · $85/mo
• Projected year-2 tax: $1,218 · $101/mo
• Expected delta: +$194/yr (+$16/mo · 18.9%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,300
• − Mortgage interest: −$5,036
• − Property taxes: −$1,024
• − Insurance: −$450
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$2,615
• Taxable income: $2,047
• Est. tax owed @ 24.0%: −$491
• After-tax cash flow: $2,885/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: Mormon Trail Community School District
• NCES district ID: 1919740
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $46,693
• Composite: 52.35/100
• National rank: #3427
• State rank: #284 of 330 in IA

Livability — Humeston

• Score: 64/100
• State rank: #623
• US rank: #14366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Humeston, IA
• Population (ZIP): 863

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 6,213 people
• By 2030: 6,109 · -1.7%
• By 2040: 5,926 · -4.6%
• By 2050: 5,716 · -8.0%
• By 2075: 5,502 · -11.4%
• By 2100: 4,890 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Dominican 2%
• Common ancestry: Portuguese 3% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+57.2) · D 20.6% · R 77.8% · Other 1.6%
• 2008→2024 swing: -50.2pp toward R · 2008: -7.0pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+51.8 2016: R+46.2 2012: R+11.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-06-11 Listed $89,900 FSBO.com

Property tax history

-1.1%/yr

Latest (2025): $1,024 · +8.0% YoY. Source: county tax records.