205 1st Ave · Persia, IA 51563

$35,000

2 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 167 Days on market

Built 1917 Est $37k · 6% under ↓ 42% since listing

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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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• Appreciation +5.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity knocks with this 3-bedroom ranch featuring a 3/4 bath, open living room, and informal dining area. Enjoy the enclosed front porch and the privacy of no backyard neighbors. A 2-car detached garage adds convenience. Property includes two parcels; a mobile home is located on Lot 13, sold with an exception on title, there are no tags or numbers on the MH, so cannot be retired to clear title and an exception will remain on title. This is sold as-is. All measurements are approximate; SQ FT PER COUNTY. Don't miss the chance to make it your own!

Key facts

• 2 garage spots
• Built 1917
• Listed 167 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#622 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tri-Center Community School District (rural): math 66% / reading 73% proficiency, ranked #126 of 289 in IA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Tri-Center Elementary School (math 62% / reading 67%, grade B, #317 of 616 statewide, top 58%, 352 students, 32% FRL); Tri-Center Middle School (math 72% / reading 77%, grade A, #76 of 246 statewide, top 33%, 162 students, 24% FRL); Tri-Center High School (math 62% / reading 77%, grade B, #152 of 336 statewide, top 52%, 210 students, 30% FRL).
• Market conditions: 3 active listings in the ZIP; 41 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $840 of equity ($242 loan paydown + $598 appreciation (1.7% local appreciation)).
• Harrison County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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 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. 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: 2.84% ✓
• Cap rate: 23.12%
• Cash-on-cash: 60.08%
• DSCR: 3.67
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $37,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 1st Ave	0.00mi	3/1.0 (+1)	1,100 (0%)	1mo	$37,000	$34	94

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.7%
• Equity multiple: 4.39×
• Total profit: $33,181
• Equity at exit: $13,255

10-year hold

• IRR: 64.3%
• Equity multiple: 8.90×
• Total profit: $77,458
• Equity at exit: $18,674

Cash invested: $9,800 (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 51563

• Home prices YoY: 1.0%
• Active inventory: 3
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $994 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $491

Break-even live

Break-even rent $373

Max offer price $35,000

Occupancy floor 46%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-25
   status Pending
2. 2026-01-29
   price $35,000
3. 2025-12-26
   price $39,000
4. 2025-12-10
   status Active
5. 2025-10-28
   price $45,000
6. 2025-09-10
   listed $60,000 Active
7. 2025-01-15
   listed $60,000 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: $1,160 · $97/mo
• Projected year-2 tax: $1,160 · $97/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 ≥104°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: $11,931
• − Mortgage interest: −$1,961
• − Property taxes: −$1,160
• − Insurance: −$175
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$1,018
• Taxable income: $5,708
• Est. tax owed @ 24.0%: −$1,370
• After-tax cash flow: $4,518/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: Tri-Center Community School District
• NCES district ID: 1927990
• Math proficiency: 66% ▲ 4.00%
• Reading proficiency: 73% ▲ 1.00%
• Median HH income: $64,116
• Composite: 60.28/100
• National rank: #854
• State rank: #126 of 289 in IA

Livability — Persia

• Score: 64/100
• State rank: #622
• US rank: #14347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Persia, IA
• Population (ZIP): 708

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 13,193 people
• By 2030: 12,519 · -5.1%
• By 2040: 11,134 · -15.6%
• By 2050: 9,749 · -26.1%
• By 2075: 7,254 · -45.0%
• By 2100: 5,298 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Serbian 3% Romanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -37.2pp toward R · 2008: -4.7pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.4 2016: R+37.5 2012: R+12.7 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.71%
• Current HPI: 173.9371
• 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

-41.7% since first listed

7 events — show timeline

• 2026-02-25 Pending — SWIAR
• 2026-01-29 Price Changed $35,000 SWIAR
• 2025-12-26 Price Changed $39,000 SWIAR
• 2025-12-10 Relisted — SWIAR
• 2025-10-28 Price Changed $45,000 SWIAR
• 2025-09-10 Listed $60,000 SWIAR
• 2025-01-15 Listed $60,000 SWIAR

Property tax history

+7.6%/yr

Latest (2025): $1,160 · -79.1% YoY. Source: county tax records.