209 Seymour St · Halbur, IA 51444

$179,900

5 bd · 3.0 ba · 2,721 sqft · SingleFamily public records · 464 Days on market

Built 1900 0.34 ac lot ↓ 18% since listing

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Why this score? — see what drove the D 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 +9.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Schools +6.1/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks

Plenty of room here! 5 bedroom, 3 bath with 3 living areas, finished basement, covered porch, & an extra lot to build that 3 car garage you've always wanted! Attached, heated garage, alley access, deck, patio, & hot tub. Shingles are less than 3 years old. Brand new LP tank. Appliances are included! Walking distance to ball field & church. Now only $179,900! Call today!

Key facts

• Covered porch
• Extra lot
• Alley access

Tags

• FINISHED BASEMENT
• COVERED PORCH
• EXTRA LOT
• ATTACHED HEATED GARAGE
• ALLEY ACCESS
• DECK

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.3% below list).
• Recommended offer: $129k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#559 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Carroll Community School District (town): math 72% / reading 72% proficiency, ranked #113 of 289 in IA (top 39%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 2 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.2% local appreciation)).
• Carroll County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 464 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,964 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 464 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.13×
• Total profit: $6,452
• Equity at exit: $72,681

10-year hold

• IRR: 6.2%
• Equity multiple: 1.86×
• Total profit: $43,315
• Equity at exit: $106,002

Cash invested: $50,372 (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 51444

• Home prices YoY: 1.5%
• Active inventory: 2
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$118 /mo · $1,410/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-117

Break-even live

Break-even rent $1,438

Max offer price $159,221

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   historical Active Under Contract
3. 2026-01-06
   status Active
4. 2026-01-06
   price $179,900
5. 2025-09-10
   price $199,500
6. 2024-12-31
   listed $219,500 Active

ⓘ 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: $1,410 · $118/mo
• Projected year-2 tax: $2,117 · $176/mo
• Expected delta: +$707/yr (+$59/mo · 50.2%)

ⓘ 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 ≥102°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: $15,476
• − Mortgage interest: −$10,077
• − Property taxes: −$1,410
• − Insurance: −$900
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$5,233
• Taxable loss: −$4,621
• Est. tax savings @ 24.0%: +$1,109
• After-tax cash flow: $-296/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: Carroll Community School District
• NCES district ID: 1906330
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $50,124
• Composite: 61.04/100
• National rank: #793
• State rank: #113 of 289 in IA

Livability — Halbur

• Score: 65/100
• State rank: #559
• US rank: #12609

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halbur, IA
• Population (ZIP): 307

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,745 people
• By 2030: 19,244 · -2.5%
• By 2040: 18,251 · -7.6%
• By 2050: 17,223 · -12.8%
• By 2075: 16,258 · -17.7%
• By 2100: 15,591 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Iranian 5% Italian 3%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+41.9) · D 28.4% · R 70.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: 3.6pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+37.8 2016: R+31.8 2012: R+6.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 148.2415
• 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

-18.0% since first listed

6 events — show timeline

• 2026-04-13 Pending — IAR
• 2026-04-07 Contingent — IAR
• 2026-01-06 Relisted — IAR
• 2026-01-06 Price Changed $179,900 IAR
• 2025-09-10 Price Changed $199,500 IAR
• 2024-12-31 Listed $219,500 IAR

Property tax history

+3.6%/yr

Latest (2025): $1,410 · -0.6% YoY. Source: county tax records.