904 Sherman St · Dysart, IA 52224

$81,524

3 bd · 1.5 ba · 1,944 sqft · SingleFamily public records · 120 Days on market

Built 1900 0.52 ac lot ↓ 10% since listing

---

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 +18.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +6.7/10.0
• Schools +6.5/10.0
• DSCR +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two story property built in 1900 on a 0.52 acre lot in town of Dysart. This 1,944 SF property has 3 bedrooms and 1.5 baths. There is a full unfinished basement. There are 2 wood decks and a patio. The open front porch entry is covered. All information believed accurate but not guaranteed. Auction Ends: Tuesday, May 5, 2026

Key facts

• Two story property
• Wood decks
• Patio

Tags

• TWO STORY PROPERTY
• FULL UNFINISHED BASEMENT
• WOOD DECKS
• PATIO
• OPEN FRONT PORCH ENTRY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $83 ($997/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $82k).
• Recommended offer: $74k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#158 in IA, #2,881 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment C-, amenities F, commute F.
• Union Community School District (rural): math 77% / reading 75% proficiency, ranked #53 of 289 in IA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 27 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($564 loan paydown + $4k appreciation (4.4% local appreciation)).
• Tama County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,186 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.17% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.37%
• DSCR: 1.19
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.94×
• Total profit: $21,417
• Equity at exit: $43,280

10-year hold

• IRR: 16.1%
• Equity multiple: 3.70×
• Total profit: $61,726
• Equity at exit: $72,388

Cash invested: $22,827 (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 52224

• Home prices YoY: 2.6%
• Active inventory: 27
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$428
• Tax from tax record: −$208 /mo · $2,498/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $83

Break-even live

Break-even rent $848

Max offer price $81,524

Occupancy floor 86%

Sensitivity live

Price	-10% $129	-5% $106	+0% $83	+5% $60	+10% $37
Rent	-10% $8	-5% $45	+0% $83	+5% $121	+10% $158
Rate	-1.0pp $124	-0.5pp $104	base $83	+0.5pp $62	+1.0pp $40

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: $20,381
• Closing costs: $2,446
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $81,524 Active 120 DOM
2. 2026-06-18
   days on market $81,524 Active 119 DOM
3. 2026-06-17
   days on market $81,524 Active 118 DOM
4. 2026-06-16
   days on market $81,524 Active 117 DOM
5. 2026-06-15
   days on market $81,524 Active 116 DOM
6. 2026-06-14
   days on market $81,524 Active 114 DOM
7. 2026-06-13
   days on market $81,524 Active 113 DOM
8. 2026-06-10
   days on market $81,524 Active 111 DOM
9. 2026-06-09
   days on market $81,524 Active 110 DOM
10. 2026-06-08
    days on market $81,524 Active 109 DOM
11. 2026-06-07
    days on market $81,524 Active 108 DOM
12. 2026-06-02
    days on market $81,524 Active 103 DOM
13. 2026-06-01
    days on market $81,524 Active 102 DOM
14. 2026-05-31
    days on market $81,524 Active 101 DOM
15. 2026-05-30
    days on market $81,524 Active 100 DOM
16. 2026-04-21
    price $86,319 324-char remark

    Show marketing remark (324 chars)

    Two story property built in 1900 on a 0.52 acre lot in town of Dysart. This 1,944 SF property has 3 bedrooms and 1.5 baths. There is a full unfinished basement. There are 2 wood decks and a patio. The open front porch entry is covered. All information believed accurate but not guaranteed. Auction Ends: Tuesday, May 5, 2026

17. 2026-03-21
    price $91,115 324-char remark

    Show marketing remark (324 chars)

    Two story property built in 1900 on a 0.52 acre lot in town of Dysart. This 1,944 SF property has 3 bedrooms and 1.5 baths. There is a full unfinished basement. There are 2 wood decks and a patio. The open front porch entry is covered. All information believed accurate but not guaranteed. Auction Ends: Tuesday, May 5, 2026

18. 2026-02-19
    listed $95,910 Active 324-char remark

    Show marketing remark (324 chars)

    Two story property built in 1900 on a 0.52 acre lot in town of Dysart. This 1,944 SF property has 3 bedrooms and 1.5 baths. There is a full unfinished basement. There are 2 wood decks and a patio. The open front porch entry is covered. All information believed accurate but not guaranteed. Auction Ends: Tuesday, May 5, 2026

ⓘ 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: $2,498 · $208/mo
• Projected year-2 tax: $2,498 · $208/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 2/10 Low 7 d/yr ≥103°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: $11,434
• − Mortgage interest: −$4,567
• − Property taxes: −$2,498
• − Insurance: −$408
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$2,372
• Taxable loss: −$240
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,054/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: Union Community School District
• NCES district ID: 1900022
• Math proficiency: 77% ▼ -3.00%
• Reading proficiency: 75% ▲ 2.00%
• Median HH income: $58,114
• Composite: 65.13/100
• National rank: #496
• State rank: #53 of 289 in IA

Livability — Dysart

• Score: 77/100
• State rank: #158
• US rank: #2881

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dysart, IA
• Population (ZIP): 1,954

Population outlook (Tama County) Hauer SSP2

• Today (2025): 16,690 people
• By 2030: 16,217 · -2.8%
• By 2040: 15,207 · -8.9%
• By 2050: 14,186 · -15.0%
• By 2075: 12,228 · -26.7%
• By 2100: 10,386 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Asian 3% Two or more races 2% Black 1%
• Common ancestry: Iranian 2% Romanian 2% Italian 2%
• Foreign-born: 3% · China

Political lean MEDSL · Tama

• 2024 margin: Strong R (+26.9) · D 35.7% · R 62.6% · Other 1.7%
• 2008→2024 swing: -39.1pp toward R · 2008: 12.2pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+19.1 2016: R+20.6 2012: D+7.4 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.40%
• Current HPI: 174.1922
• 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

-10.0% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $86,319 NEIRBR as distributed by MLS GRID
• 2026-03-21 Price Changed $91,115 NEIRBR as distributed by MLS GRID
• 2026-02-19 Listed $95,910 NEIRBR as distributed by MLS GRID

Property tax history

+3.2%/yr

Latest (2025): $2,498 · +5.8% YoY. Source: county tax records.