302 9th St E · Vinton, IA 52349

$89,000

3 bd · 1.5 ba · 1,688 sqft · SingleFamily public records · 43 Days on market

Built 1920 0.38 ac lot $53/sqft · 16% below area

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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).

• Cash flow +16.5/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• 1% rule +5.8/10.0
• DSCR +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible opportunity on a large corner lot with two garages! This fully gutted home is the perfect blank slate for your next project, with several major updates already completed. Recent improvements include a brand-new metal roof and gutters on the home, a new asphalt roof on the main garage, and a new dedicated water line connected to the city’s updated main. Electrical service has been newly trenched to the house and both garages, setting the stage for future development. A large half-dead tree has been removed and the stump professionally ground, opening up the spacious yard even more. With a huge lot, two sizable garages, and big-ticket items already done, this property offers endless potential for renovation, investment, or a custom rebuild.

Key facts

• Spacious yard
• New metal roof
• New asphalt roof

Tags

• LARGE CORNER LOT
• TWO GARAGES
• NEW METAL ROOF
• NEW ASPHALT ROOF
• NEW DEDICATED WATER LINE
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $53 ($630/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($960 rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 1.9% in Vinton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#88 in IA, #1,848 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: employment C-, amenities F, commute F.
• Vinton-Shellsburg Community School District (rural): math 79% / reading 77% proficiency, ranked #43 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 61 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.
• Current owner paid $60k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 7.7

CMA / ARV

• ARV (median comp): $211,824
• List price: $89,000
• Delta: -57.98%
• 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
507 W 13th St	0.49mi	2/1.5 (-1)	1,730 (+2%)	2mo	$175,000	$101	66
909 S 8th Ave	0.30mi	3/2.0	1,539 (-9%)	5mo	$135,000	$88	66
209 5th St St W	0.38mi	4/2.5 (+1)	1,619 (-4%)	2mo	$81,000	$50	65
909 W 13th St	0.72mi	3/2.0	1,671 (-1%)	3mo	$294,000	$176	60
601 E 11th St	0.22mi	4/2.5 (+1)	1,898 (+12%)	1mo	$235,500	$124	60
1112 A Ave	0.25mi	4/2.0 (+1)	1,470 (-13%)	4mo	$179,500	$122	57
1107 G Ave	0.60mi	3/2.0	1,861 (+10%)	0mo	$358,000	$192	53
807 W 13th St	0.67mi	3/2.0	1,523 (-10%)	1mo	$312,000	$205	50
1307 G Ave Ave	0.65mi	3/2.0	1,812 (+7%)	8mo	$210,000	$116	49
206 N 8th Ave	0.75mi	3/2.0	1,809 (+7%)	6mo	$185,000	$102	46
503 3rd St St W	0.59mi	4/2.0 (+1)	1,888 (+12%)	4mo	$140,000	$74	42
912 E 2nd St St	0.67mi	4/2.0 (+1)	1,940 (+15%)	4mo	$212,500	$110	33

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-11,006
• Equity at exit: $13,270

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-4,990
• Equity at exit: $7,695

Cash invested: $24,920 (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 52349

• Home prices YoY: -29.0%
• Active inventory: 61
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$202 /mo · $2,428/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $53

Break-even live

Break-even rent $894

Max offer price $89,000

Occupancy floor 90%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-07
   status Pending 765-char remark

   Show marketing remark (765 chars)

   Incredible opportunity on a large corner lot with two garages! This fully gutted home is the perfect blank slate for your next project, with several major updates already completed. Recent improvements include a brand-new metal roof and gutters on the home, a new asphalt roof on the main garage, and a new dedicated water line connected to the city’s updated main. Electrical service has been newly trenched to the house and both garages, setting the stage for future development. A large half-dead tree has been removed and the stump professionally ground, opening up the spacious yard even more. With a huge lot, two sizable garages, and big-ticket items already done, this property offers endless potential for renovation, investment, or a custom rebuild.

2. 2026-03-25
   listed $89,000 Active 765-char remark

   Show marketing remark (765 chars)

   Incredible opportunity on a large corner lot with two garages! This fully gutted home is the perfect blank slate for your next project, with several major updates already completed. Recent improvements include a brand-new metal roof and gutters on the home, a new asphalt roof on the main garage, and a new dedicated water line connected to the city’s updated main. Electrical service has been newly trenched to the house and both garages, setting the stage for future development. A large half-dead tree has been removed and the stump professionally ground, opening up the spacious yard even more. With a huge lot, two sizable garages, and big-ticket items already done, this property offers endless potential for renovation, investment, or a custom rebuild.

3. 2026-01-27
   price $100,000
4. 2024-09-03
   soldstatus $60,000
5. 2024-08-30
   soldstatus $60,000 Closed
6. 2024-08-12
   status Pending
7. 2024-08-07
   price $70,000
8. 2024-07-12
   listed $80,000 Active
9. 2014-07-09
   soldstatus $75,143
10. 2014-06-03
    soldstatus $74,500
11. 2011-08-31
    soldstatus $85,000
12. 1993-08-06
    soldstatus $55,500
13. 1982-06-25
    soldstatus $42,750

ⓘ 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: $2,428 · $202/mo
• Projected year-2 tax: $2,428 · $202/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,524
• − Mortgage interest: −$4,985
• − Property taxes: −$2,428
• − Insurance: −$445
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$2,589
• Taxable loss: −$767
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $814/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: Vinton-Shellsburg Community School District
• NCES district ID: 1929310
• Math proficiency: 79% ▼ -6.00%
• Reading proficiency: 77% ▼ -1.00%
• Median HH income: $52,023
• Composite: 66.21/100
• National rank: #430
• State rank: #43 of 289 in IA

Livability — Vinton

• Score: 80/100
• State rank: #88
• US rank: #1848

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: Vinton, IA
• Population (ZIP): 7,745

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 7% Italian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.56%
• Current HPI: 197.3164
• 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

+108.2% since first listed

13 events — show timeline

• 2026-05-07 Pending — CRAAR, CDRMLS
• 2026-03-25 Listed $89,000 CRAAR, CDRMLS
• 2026-01-27 Price Changed $100,000 CRAAR, CDRMLS
• 2024-09-03 Sold (Public Records) $60,000 Public Records
• 2024-08-30 Sold (MLS) $60,000 CRAAR, CDRMLS
• 2024-08-12 Pending — CRAAR, CDRMLS
• 2024-08-07 Price Changed $70,000 CRAAR, CDRMLS
• 2024-07-12 Listed $80,000 CRAAR, CDRMLS
• 2014-07-09 Sold (Public Records) $75,143 Public Records
• 2014-06-03 Sold (Public Records) $74,500 Public Records
• 2011-08-31 Sold (Public Records) $85,000 Public Records
• 1993-08-06 Sold (Public Records) $55,500 Public Records
• 1982-06-25 Sold (Public Records) $42,750 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,428 · +2.0% YoY. Source: county tax records.