610 Center St · Grinnell, IA 50112

$65,000

1 bd · 1.0 ba · 638 sqft · SingleFamily public records · 41 Days on market

Built 1900 0.34 ac lot $102/sqft · 44% below area Est $117k · 44% under ↓ 32% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +6.6/10.0
• 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

610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

Key facts

• 0.34 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story; Residential zoning
• Construction: Block foundation; Metal roof; Construction details: see remarks
• Exterior features: Deck; Concrete road access

Interior

• Kitchen: Stove
• Bedrooms: One main-level bedroom
• Flooring: Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Window unit cooling; Heating with baseboard, forced air, electric and natural gas
• Interior features: Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry located on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.9% in Grinnell — 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 79/100 on livability (#123 in IA, #2,270 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Grinnell-Newburg Community School District (town): math 76% / reading 79% proficiency, ranked #47 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 98 active listings in the ZIP; 27 units permitted in Poweshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Poweshiek County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1900 — 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: 1.42% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

• ARV (median comp): $116,581
• List price: $65,000
• Delta: -44.24%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.6%
• Equity multiple: 1.50×
• Total profit: $9,132
• Equity at exit: $9,692

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $33,266
• Equity at exit: $5,620

Cash invested: $18,200 (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 50112

• Home prices YoY: -14.4%
• Active inventory: 98
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $925 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $309

Break-even live

Break-even rent $534

Max offer price $65,000

Occupancy floor 62%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $65,000 Active 41 DOM
2. 2026-06-17
   days on market $65,000 Active 40 DOM
3. 2026-06-16
   days on market $65,000 Active 39 DOM
4. 2026-06-15
   days on market $65,000 Active 38 DOM
5. 2026-06-13
   days on market $65,000 Active 36 DOM
6. 2026-06-12
   days on market $65,000 Active 35 DOM
7. 2026-06-09
   days on market $65,000 Active 32 DOM
8. 2026-06-08
   days on market $65,000 Active 31 DOM
9. 2026-06-07
   days on market $65,000 Active 30 DOM
10. 2026-06-07
    days on market $65,000 Active 29 DOM
11. 2026-06-04
    days on market $65,000 Active 26 DOM
12. 2026-06-02
    days on market $65,000 Active 25 DOM
13. 2026-06-01
    days on market $65,000 Active 24 DOM
14. 2026-05-31
    days on market $65,000 Active 23 DOM
15. 2026-05-31
    days on market $65,000 Active 22 DOM
16. 2026-05-18
    status Active 234-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

17. 2026-05-18
    status Active 49-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

18. 2026-05-15
    status Pending 234-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

19. 2026-05-15
    status Pending 49-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

20. 2026-05-05
    listed $65,000 Active 234-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

21. 2026-05-05
    listed $65,000 Active 49-char remark

    Show marketing remark (234 chars)

    610 Center St. Grinnell IA 52211 is a pretty, two lot space to build a home on! Or maybe continue to rent it or flip it. .. or live in it! Whatever your wish maybe. The lot is 100 X1 50' Property is in an Estate and will be sold AS-IS

22. 2014-09-29
    soldstatus $95,100

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $832 · $69/mo
• Expected delta: +$188/yr (+$16/mo · 29.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 58% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,095
• − Mortgage interest: −$3,641
• − Property taxes: −$644
• − Insurance: −$325
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$1,891
• Taxable income: $2,819
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $3,029/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: Grinnell-Newburg Community School District
• NCES district ID: 1913200
• Math proficiency: 76% ▼ -3.00%
• Reading proficiency: 79% ▲ 3.00%
• Median HH income: $49,893
• Composite: 65.57/100
• National rank: #466
• State rank: #47 of 289 in IA

Livability — Grinnell

• Score: 79/100
• State rank: #123
• US rank: #2270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grinnell, IA
• City population: 11,776
• Population (ZIP): 11,776

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Iranian 7% Portuguese 4% Italian 3%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -40.63%
• Current HPI: 241.5557
• 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

-31.7% since first listed

7 events — show timeline

• 2026-05-18 Relisted — IAR
• 2026-05-18 Relisted — DMMLS
• 2026-05-15 Pending — IAR
• 2026-05-15 Pending — DMMLS
• 2026-05-05 Listed $65,000 DMMLS
• 2026-05-05 Listed $65,000 IAR
• 2014-09-29 Sold (Public Records) $95,100 Public Records

Property tax history

+1.9%/yr

Latest (2025): $644 · +1.3% YoY. Source: county tax records.