114 N Main St · Traer, IA 50675

$89,900

3 bd · 1.5 ba · 1,464 sqft · SingleFamily public records · 54 Days on market

Built 1920 9,365 sqft lot $61/sqft · 27% below area Est $124k · 27% 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 1.5-story home offers a main floor with an enclosed porch, warm wood floors, a cozy living room, a kitchen, a bedroom, and a full bath. Upstairs, you’ll find two bedrooms, a half bath, and an extra room for added versatility. The laundry is in the full basement, and the property also features a one-car attached garage, a roof in average condition, and low-maintenance vinyl windows and siding. A roomy, handicap-accessible deck adds to its charm, and the driveway is shared with two neighboring properties. Call today to check it out!

Key facts

• Enclosed porch
• 9,365 sq ft lot
• Garage

Tags

• ENCLOSED PORCH
• HANDICAP-ACCESSIBLE DECK
• LOW-MAINTENANCE VINYL WINDOWS
• LOW-MAINTENANCE VINYL SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#185 in IA, #3,274 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Tama County Community School District (rural): math 56% / reading 66% proficiency, ranked #234 of 289 in IA (top 81%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tama County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (median comp): $123,858
• List price: $89,900
• Delta: -27.42%
• 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
102 Levering St	0.23mi	3/1.5	1,468 (+0%)	7mo	$120,000	$82	83
704 6th St	0.49mi	3/2.5	1,439 (-2%)	2mo	$215,000	$149	68
116 N Cherry St	0.28mi	2/1.5 (-1)	1,440 (-2%)	14mo	$140,000	$97	68
621 1st St	0.18mi	4/1.0 (+1)	1,326 (-9%)	4mo	$126,900	$96	66
502 Mill St	0.50mi	3/3.0	1,456 (-0%)	5mo	$130,000	$89	66
714 5th St	0.45mi	3/2.0	1,512 (+3%)	11mo	$98,500	$65	62
911 2nd St	0.47mi	2/1.5 (-1)	1,445 (-1%)	11mo	$148,000	$102	61
710 5th St	0.44mi	3/1.5	1,430 (-2%)	18mo	$143,000	$100	61
100 Walnut St	0.16mi	3/2.0	1,682 (+15%)	16mo	$150,000	$89	52
714 6th St	0.51mi	2/2.5 (-1)	1,580 (+8%)	2mo	$185,000	$117	52
205 S Cherry St	0.37mi	3/1.0	1,248 (-15%)	12mo	$113,000	$91	46
805 Walnut St	0.64mi	4/2.0 (+1)	1,515 (+4%)	16mo	$160,000	$106	44

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: 3.7%
• Equity multiple: 1.14×
• Total profit: $3,569
• Equity at exit: $13,404

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $26,536
• Equity at exit: $7,773

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 50675

• Home prices YoY: -9.9%
• Active inventory: 35
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $284

Break-even live

Break-even rent $806

Max offer price $89,900

Occupancy floor 71%

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 13 events

1. 2026-06-09
   status $89,900 Pending 54 DOM
2. 2026-06-08
   days on market $89,900 Active 54 DOM
3. 2026-06-07
   days on market $89,900 Active 53 DOM
4. 2026-06-07
   days on market $89,900 Active 52 DOM
5. 2026-06-04
   days on market $89,900 Active 49 DOM
6. 2026-06-02
   days on market $89,900 Active 48 DOM
7. 2026-06-01
   days on market $89,900 Active 47 DOM
8. 2026-05-31
   days on market $89,900 Active 46 DOM
9. 2026-05-31
   days on market $89,900 Active 45 DOM
10. 2026-04-14
    listed $89,900 Active 556-char remark

    Show marketing remark (556 chars)

    This charming 1.5-story home offers a main floor with an enclosed porch, warm wood floors, a cozy living room, a kitchen, a bedroom, and a full bath. Upstairs, you’ll find two bedrooms, a half bath, and an extra room for added versatility. The laundry is in the full basement, and the property also features a one-car attached garage, a roof in average condition, and low-maintenance vinyl windows and siding. A roomy, handicap-accessible deck adds to its charm, and the driveway is shared with two neighboring properties. Call today to check it out!

11. 2019-09-19
    soldstatus $84,000 507-char remark

    Show marketing remark (507 chars)

    Nicely updated and well maintained 3 bedroom 1.5 bath home. Main floor features spacious living room with french door to enclosed porch, bright kitchen with plenty of counter space and cupboards, bedroom and full bathroom. Upper level offers a master bedroom with private bath and walk-in closet, 3rd bedroom and large storage room. A few of the many updated include replacement windows throughout, roof 2017 and completely repainted inside and out 2018. Single attached garage with additional parking area.

12. 2019-09-19
    soldstatus $84,000

    Show marketing remark (507 chars)

    Nicely updated and well maintained 3 bedroom 1.5 bath home. Main floor features spacious living room with french door to enclosed porch, bright kitchen with plenty of counter space and cupboards, bedroom and full bathroom. Upper level offers a master bedroom with private bath and walk-in closet, 3rd bedroom and large storage room. A few of the many updated include replacement windows throughout, roof 2017 and completely repainted inside and out 2018. Single attached garage with additional parking area.

13. 2019-01-11
    listed $88,500 507-char remark

    Show marketing remark (507 chars)

    Nicely updated and well maintained 3 bedroom 1.5 bath home. Main floor features spacious living room with french door to enclosed porch, bright kitchen with plenty of counter space and cupboards, bedroom and full bathroom. Upper level offers a master bedroom with private bath and walk-in closet, 3rd bedroom and large storage room. A few of the many updated include replacement windows throughout, roof 2017 and completely repainted inside and out 2018. Single attached garage with additional parking area.

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $1,534 · $128/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $13,991
• − Mortgage interest: −$5,036
• − Property taxes: −$1,534
• − Insurance: −$450
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$2,615
• Taxable income: $2,118
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $2,904/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: North Tama County Community School District
• NCES district ID: 1921000
• Math proficiency: 56% ▼ -14.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $52,332
• Composite: 52.09/100
• National rank: #1627
• State rank: #234 of 289 in IA

Livability — Traer

• Score: 76/100
• State rank: #185
• US rank: #3274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Traer, IA
• Population (ZIP): 2,323

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 (87%)
• Race & ethnicity: White 87% Two or more races 11% Hispanic / Latino 10% Native American 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

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: ▼ -18.31%
• Current HPI: 166.7181
• 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

+1.6% since first listed

4 events — show timeline

• 2026-04-14 Listed $89,900 IAR
• 2019-09-19 Sold (Public Records) $84,000 Public Records
• 2019-09-19 Sold (MLS) $84,000 NEIRBR as distributed by MLS GRID
• 2019-01-11 Listed $88,500 NEIRBR as distributed by MLS GRID

Property tax history

+0.7%/yr

Latest (2025): $1,534 · +5.6% YoY. Source: county tax records.