404 W Des Moines St · Brooklyn, IA 52211

$149,900

3 bd · 2.0 ba · 1,609 sqft · SingleFamily public records · 90 Days on market

Built 1948 8,000 sqft lot $93/sqft · 13% below area Est $172k · 13% under

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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).

• ARV discount +13.2/15.0
• Cash flow +12.9/30.0
• Appreciation +9.3/10.0
• Schools +6.2/10.0
• DSCR +3.8/10.0
• Livability +3.3/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Experience Small Town Charm with Modern Peace of Mind! This impeccably cared-for 2-bedroom ranch in Brooklyn, IA, offers the perfect blend of comfort and efficiency. Spanning 1,073 sq. ft. , the home features a flexible layout with the potential for a 3rd bedroom to suit your needs. You can move in with total confidence knowing the heavy lifting has been done: this home boasts a brand-new roof, new water heater, new central air, and updated doors. The addition of high-efficiency triple-pane windows ensures year-round comfort and low utility costs. Enjoy the best of Iowa’s seasons from your choice of two new outdoor spaces. The brand-new front deck offers a warm welcome, while the expansive new back deck provides a front-row seat to breathtaking, unobstructed views of the rolling countryside. The walk-out basement adds incredible functionality, featuring a convenient drive-under garage to keep your vehicle protected from the elements. Whether this is your first home or looking to downsize, this "turn-key" gem is ready for its next chapter. Come see the pride of ownership for yourself!

Key facts

• New water heater
• Brand-new roof
• Updated doors

Tags

• BRAND-NEW ROOF
• NEW WATER HEATER
• NEW CENTRAL AIR
• UPDATED DOORS
• NEW OUTDOOR SPACES
• NEW FRONT DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-12 ($-147/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (19.3% below list).
• Recommended offer: $121k (19.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#509 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Brooklyn-Guernsey-Malcom Community School District (rural): math 72% / reading 74% proficiency, ranked #101 of 289 in IA (top 35%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 57 active listings in the ZIP; 27 units permitted in Poweshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.6% local appreciation)).
• Poweshiek County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.6% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,007 (19.3% 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 90 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — 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 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: 0.81% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (median comp): $171,855
• List price: $149,900
• Delta: -12.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Clay St	0.26mi	3/1.5	1,593 (-1%)	13mo	$73,000	$46	73
224 Linden Ct	0.36mi	3/2.0	1,782 (+11%)	0mo	$174,000	$98	65
610 E Pershing Drive Dr	0.56mi	3/1.0	1,620 (+1%)	8mo	$170,000	$105	62
506 Adams St	0.14mi	3/2.0	1,819 (+13%)	13mo	$179,900	$99	61
710 Clay St	0.26mi	4/2.0 (+1)	1,404 (-13%)	4mo	$150,000	$107	58
607 E Pershing Dr	0.55mi	4/1.5 (+1)	1,706 (+6%)	12mo	$175,500	$103	47

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

Projected returns pro-forma

8.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.58×
• Total profit: $66,368
• Equity at exit: $119,652

10-year hold

• IRR: 19.2%
• Equity multiple: 5.61×
• Total profit: $193,501
• Equity at exit: $243,230

Cash invested: $41,972 (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 52211

• Home prices YoY: 2.6%
• Active inventory: 57
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,210 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$120 /mo · $1,436/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-12

Break-even live

Break-even rent $1,226

Max offer price $147,734

Occupancy floor 96%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $149,900 Active 90 DOM
2. 2026-06-17
   days on market $149,900 Active 89 DOM
3. 2026-06-16
   days on market $149,900 Active 88 DOM
4. 2026-06-15
   days on market $149,900 Active 87 DOM
5. 2026-06-13
   days on market $149,900 Active 85 DOM
6. 2026-06-12
   days on market $149,900 Active 84 DOM
7. 2026-06-09
   days on market $149,900 Active 81 DOM
8. 2026-06-08
   days on market $149,900 Active 80 DOM
9. 2026-06-07
   days on market $149,900 Active 79 DOM
10. 2026-06-07
    days on market $149,900 Active 78 DOM
11. 2026-06-04
    days on market $149,900 Active 75 DOM
12. 2026-06-02
    days on market $149,900 Active 74 DOM
13. 2026-06-01
    days on market $149,900 Active 73 DOM
14. 2026-05-31
    days on market $149,900 Active 72 DOM
15. 2026-05-31
    days on market $149,900 Active 71 DOM
16. 2026-03-20
    listed $149,900 Active 1117-char remark

    Show marketing remark (1130 chars)

    Experience Small Town Charm with Modern Peace of Mind! This impeccably cared-for 2-bedroom ranch in Brooklyn, IA, offers the perfect blend of comfort and efficiency. Spanning 1,073 sq. ft. , the home features a flexible layout with the potential for a 3rd bedroom to suit your needs. You can move in with total confidence knowing the heavy lifting has been done: this home boasts a brand-new roof, new water heater, new central air, and updated doors. The addition of high-efficiency triple-pane windows ensures year-round comfort and low utility costs. Enjoy the best of Iowa’s seasons from your choice of two new outdoor spaces. The brand-new front deck offers a warm welcome, while the expansive new back deck provides a front-row seat to breathtaking, unobstructed views of the rolling countryside. The walk-out basement adds incredible functionality, featuring a convenient drive-under garage to keep your vehicle protected from the elements. Whether this is your first home or looking to downsize, this "turn-key" gem is ready for its next chapter. Come see the pride of ownership for yourself! Selling AS-IS

17. 2026-03-20
    listed $149,900 Active 1130-char remark

    Show marketing remark (1130 chars)

    Experience Small Town Charm with Modern Peace of Mind! This impeccably cared-for 2-bedroom ranch in Brooklyn, IA, offers the perfect blend of comfort and efficiency. Spanning 1,073 sq. ft. , the home features a flexible layout with the potential for a 3rd bedroom to suit your needs. You can move in with total confidence knowing the heavy lifting has been done: this home boasts a brand-new roof, new water heater, new central air, and updated doors. The addition of high-efficiency triple-pane windows ensures year-round comfort and low utility costs. Enjoy the best of Iowa’s seasons from your choice of two new outdoor spaces. The brand-new front deck offers a warm welcome, while the expansive new back deck provides a front-row seat to breathtaking, unobstructed views of the rolling countryside. The walk-out basement adds incredible functionality, featuring a convenient drive-under garage to keep your vehicle protected from the elements. Whether this is your first home or looking to downsize, this "turn-key" gem is ready for its next chapter. Come see the pride of ownership for yourself! Selling AS-IS

ⓘ 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: $1,436 · $120/mo
• Projected year-2 tax: $1,895 · $158/mo
• Expected delta: +$459/yr (+$38/mo · 31.9%)

ⓘ 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,521
• − Mortgage interest: −$8,397
• − Property taxes: −$1,436
• − Insurance: −$750
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$4,361
• Taxable loss: −$2,745
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $512/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: Brooklyn-Guernsey-Malcom Community School District
• NCES district ID: 1905490
• Math proficiency: 72% ▼ -4.00%
• Reading proficiency: 74% ▲ 2.00%
• Median HH income: $49,307
• Composite: 61.79/100
• National rank: #734
• State rank: #101 of 289 in IA

Livability — Brooklyn

• Score: 66/100
• State rank: #509
• US rank: #11267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brooklyn, IA
• Population (ZIP): 2,671

Population outlook (Poweshiek County) Hauer SSP2

• Today (2025): 18,601 people
• By 2030: 18,342 · -1.4%
• By 2040: 17,944 · -3.5%
• By 2050: 18,029 · -3.1%
• By 2075: 19,945 · +7.2%
• By 2100: 22,637 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: English 4% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Poweshiek

• 2024 margin: R (+17.0) · D 40.8% · R 57.8% · Other 1.5%
• 2008→2024 swing: -28.7pp toward R · 2008: 11.8pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+13.3 2016: R+6.8 2012: D+9.1 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.56%
• Current HPI: 332.4308
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-20 Listed $149,900 DMMLS
• 2026-03-20 Listed $149,900 IAR

Property tax history

+1.3%/yr

Latest (2025): $1,436 · -26.6% YoY. Source: county tax records.