1023 N 10th Ave E · Newton, IA 50208

$80,000

3 bd · 1.5 ba · 950 sqft · SingleFamily public records · 6 Days on market

Built 1900 0.46 ac lot Est $154k · 48% 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +7.3/10.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property. Home is located on almost 1/2 acre double lot great place to build a shop or another house. House is 3 bedroom home.

Key facts

• 0.46 acre lot
• Built 1900
• Listed 6 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding; Block and brick/mortar foundation
• Exterior features: Asphalt road frontage; Residential zoning

Interior

• Kitchen: Microwave; Stove; Refrigerator; Dishwasher
• Bedrooms: 3 main-level bedrooms
• Flooring: Tile
• Bathrooms: 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Dining area; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($984 rent vs $80k).
• Cap rate 8.6% vs local median 3.1% in Newton — 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 77/100 on livability (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $30k; list at $80k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.23% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $153,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
924 E 9th St N	0.10mi	3/2.0	873 (-8%)	6mo	$215,000	$246	75
711 E 12th St N	0.18mi	4/2.0 (+1)	1,008 (+6%)	2mo	$189,000	$188	73
817 E 6th St N	0.36mi	2/1.0 (-1)	946 (-0%)	6mo	$149,000	$158	70
711 E 14th St N	0.29mi	3/2.0	864 (-9%)	1mo	$187,000	$216	68
1112 N 8th Ave E	0.16mi	3/1.0	816 (-14%)	2mo	$140,000	$172	66
713 N 8th Ave E	0.26mi	3/1.0	1,084 (+14%)	1mo	$175,000	$161	61
1326 Crescent Dr	0.56mi	2/1.0 (-1)	858 (-10%)	1mo	$92,000	$107	50
510 N 3rd Ave E	0.60mi	2/1.0 (-1)	1,034 (+9%)	4mo	$142,500	$138	47
205 E 17th Street Pl N	0.71mi	2/1.0 (-1)	1,010 (+6%)	4mo	$164,000	$162	46
1421 N 4th Ave E	0.53mi	3/1.0	812 (-14%)	7mo	$150,000	$185	43
201 E 13th St N	0.60mi	2/1.0 (-1)	816 (-14%)	0mo	$125,000	$153	41
2 Bungalow Ct	0.65mi	2/1.0 (-1)	816 (-14%)	4mo	$60,000	$74	36

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-3,011
• Equity at exit: $11,928

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $10,352
• Equity at exit: $6,917

Cash invested: $22,400 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $984 high
• Mortgage (P&I): −$420
• Tax from tax record: −$169 /mo · $2,026/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $155

Break-even live

Break-even rent $787

Max offer price $80,000

Occupancy floor 79%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1026 E 12th St N Newton, IA	2.0	1.0	780	$725	$0.93	14d	1	0.19mi
605 E 7 1/2 St N Newton, IA	2.0	1.0	672	$1,200	$1.79	43d	1	0.36mi
701 N 2nd Ave E Newton, IA	2.0	1.0	1100	$875	$0.80	14d	1	0.64mi
1800 W 4th St N Newton, IA	1.0–3.0	1.0–2.0	792	$970	$1.22	13d	7	0.86mi
2305 E 19th St N Newton, IA	3.0	2.0	1140	$1,044	$0.92	13d	1	0.90mi
320 W 3rd St N Unit 112 Newton, IA	2.0	2.0	845	$1,295	$1.53	14d	1	0.91mi
1798 W 4th St N Newton, IA	3.0	1.0	1008	$1,025	$1.02	13d	4	1.00mi
500 E 17th St S Unit 22 Newton, IA	2.0	1.0	850	$950	$1.12	21d	1	1.03mi
500 E 17th St S Unit 28 Newton, IA	2.0	1.0	850	$850	$1.00	21d	1	1.04mi
723 E 6th St S Newton, IA	2.0	1.0	650	$775	$1.19	43d	1	1.14mi
602 E 2nd St S Newton, IA	2.0	1.0	750	$775	$1.03	43d	1	1.15mi
220 E 28th St N Newton, IA	2.0–3.0	2.0	877	$945	$1.08	13d	3	1.25mi
603 E 22nd St S Newton, IA	4.0	1.0	1104	$1,725	$1.56	14d	1	1.31mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $80,000 Active
3. 2017-11-15
   soldstatus $30,000 143-char remark

   Show marketing remark (143 chars)

   Great investment property. Home is located on almost 1/2 acre double lot great place to build a shop or another house. House is 3 bedroom home.

4. 2017-06-19
   listed $35,000 143-char remark

   Show marketing remark (143 chars)

   Great investment property. Home is located on almost 1/2 acre double lot great place to build a shop or another house. House is 3 bedroom home.

ⓘ 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: $2,026 · $169/mo
• Projected year-2 tax: $2,026 · $169/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 ≥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: $11,803
• − Mortgage interest: −$4,481
• − Property taxes: −$2,026
• − Insurance: −$400
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$2,327
• Taxable income: $680
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $1,701/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+128.6% since first listed

4 events — show timeline

• 2026-04-29 Pending — DMMLS
• 2026-04-23 Listed $80,000 DMMLS
• 2017-11-15 Sold (MLS) $30,000 DMMLS
• 2017-06-19 Listed $35,000 DMMLS

Property tax history

+6.5%/yr

Latest (2025): $2,026 · +0.5% YoY. Source: county tax records.