613 Meadow Pl · Ames, IA 50010

$112,000

3 bd · 2.0 ba · 1,260 sqft · Townhouse public records · 52 Days on market

Built 1970 1,572 sqft lot Est $203k · 45% under $150/mo HOA · 9% of rent

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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 +9.5/10.0
• Schools +5.9/10.0
• Livability +4.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Living in this 3 Bedrooms and 2 Bathrooms South Ames Townhome. Split Foyer Layout. Both Bathrooms have been updated with a Full Bath with a Tub with Tiled Shower Surround and Fixtures. Basement 3/4 Bathroom is also updated with a Tiled Shower and Fixtures. Nice sized Living Room with Sliding Doors leading to a back Deck. Brand New Professionally Painted Interior Walls, Trim and Kitchen Cabinets with new Hardware as well. New Professionally Installed Luxury Vinyl Tile Flooring in Kitchen and Dining Area. Stainless Steel Fridge! Spacious Laundry Room with Washer and Dryer included in the Storage area with nice Built-in Cabinets as well. All Appliances are included. This one is ready for you to move into.

Key facts

• $150 HOA
• Community pool
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $112k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.2% in Ames — 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 93/100 on livability (#2 in IA, #21 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: employment C-.
• Ames Community School District (urban): math 70% / reading 72% proficiency, ranked #147 of 289 in IA (top 51%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+2.7%/yr); 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Story County in 2024 (34 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Story County population projected at +54% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask has dropped $28k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $108,640 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.45% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.59%
• DSCR: 1.60
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $202,860
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3412 Southdale Dr	0.10mi	3/2.0	1,242 (-1%)	3mo	$200,000	$161	90
3430 Southdale Dr	0.11mi	3/1.5	1,219 (-3%)	18mo	$205,000	$168	73
637 Meadow Pl	0.05mi	3/2.0	1,139 (-10%)	12mo	$150,000	$132	72
3466 Southdale Dr	0.14mi	4/3.0 (+1)	1,196 (-5%)	12mo	$209,900	$176	66
707 Garnet Dr	0.07mi	3/1.5	1,092 (-13%)	18mo	$135,000	$124	58

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 · 2.69% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $4,089
• Equity at exit: $16,700

10-year hold

• IRR: 12.7%
• Equity multiple: 1.99×
• Total profit: $31,119
• Equity at exit: $9,684

Cash invested: $31,360 (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 50010

• Rents YoY: 2.7%
• Active inventory: 183
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,629 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$148 /mo · $1,772/yr
• Insurance: −$47
• HOA: −$150
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $355

Break-even live

Break-even rent $1,179

Max offer price $112,000

Occupancy floor 73%

Sensitivity live

Price	-10% $419	-5% $387	+0% $355	+5% $323	+10% $292
Rent	-10% $227	-5% $291	+0% $355	+5% $420	+10% $484
Rate	-1.0pp $412	-0.5pp $384	base $355	+0.5pp $326	+1.0pp $297

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 Crystal St Ames, IA	3.0	2.0	1127	$1,075	$0.95	44d	1	0.36mi
560 W Crystal St Ames, IA	3.0	3.0	1804	$2,550	$1.41	44d	3	0.67mi
561 W Crystal St Ames, IA	3.0	3.0	1804	$2,600	$1.44	44d	1	0.68mi

HOA detail

• Monthly dues: $150 · $1,800/yr

Listing history 13 events

1. 2026-03-26
   status Pending
2. 2026-03-09
   price $112,000
3. 2026-02-02
   listed $140,000 Active
4. 2019-03-28
   soldstatus $99,000
5. 2019-03-25
   soldstatus $99,000 722-char remark

   Show marketing remark (722 chars)

   Affordable Living in this 3 Bedrooms and 2 Bathrooms South Ames Townhome. Split Foyer Layout. Both Bathrooms have been updated with a Full Bath with a Tub with Tiled Shower Surround and Fixtures. Basement 3/4 Bathroom is also updated with a Tiled Shower and Fixtures. Nice sized Living Room with Sliding Doors leading to a back Deck. Brand New Professionally Painted Interior Walls, Trim and Kitchen Cabinets with new Hardware as well. New Professionally Installed Luxury Vinyl Tile Flooring in Kitchen and Dining Area. Stainless Steel Fridge! Spacious Laundry Room with Washer and Dryer included in the Storage area with nice Built-in Cabinets as well. All Appliances are included. This one is ready for you to move into.

6. 2018-08-27
   listed $101,900
7. 2018-08-14
   listed $101,900 722-char remark

   Show marketing remark (722 chars)

   Affordable Living in this 3 Bedrooms and 2 Bathrooms South Ames Townhome. Split Foyer Layout. Both Bathrooms have been updated with a Full Bath with a Tub with Tiled Shower Surround and Fixtures. Basement 3/4 Bathroom is also updated with a Tiled Shower and Fixtures. Nice sized Living Room with Sliding Doors leading to a back Deck. Brand New Professionally Painted Interior Walls, Trim and Kitchen Cabinets with new Hardware as well. New Professionally Installed Luxury Vinyl Tile Flooring in Kitchen and Dining Area. Stainless Steel Fridge! Spacious Laundry Room with Washer and Dryer included in the Storage area with nice Built-in Cabinets as well. All Appliances are included. This one is ready for you to move into.

8. 2018-07-10
   historical
9. 2018-06-06
   listed $109,900
10. 2018-06-06
    listed $109,900
11. 2013-10-04
    soldstatus $80,000
12. 2013-08-26
    listed $84,900
13. 2012-01-04
    soldstatus $100,000

ⓘ 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: $1,772 · $148/mo
• Projected year-2 tax: $1,772 · $148/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 ≥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: $19,547
• − Mortgage interest: −$6,274
• − Property taxes: −$1,772
• − Insurance: −$560
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − HOA: −$1,800
• − Depreciation: −$3,258
• Taxable income: $2,756
• Est. tax owed @ 24.0%: −$661
• After-tax cash flow: $3,601/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: Ames Community School District
• NCES district ID: 1903540
• Math proficiency: 70% ▼ -5.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $39,790
• Composite: 59.22/100
• National rank: #941
• State rank: #147 of 289 in IA

Livability — Ames

• Score: 93/100
• State rank: #2
• US rank: #21

Category grades

Amenities A+ Commute A+ 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: Ames, IA
• County: Story County · 66,757 people
• City population: 66,757
• Metro: Ames, IA
• Population (ZIP): 33,799
• Household income: $65,398
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1523.0

Population outlook (Story County) Hauer SSP2

• Today (2025): 115,493 people
• By 2030: 126,820 · +9.8%
• By 2040: 150,771 · +30.5%
• By 2050: 177,915 · +54.0%
• By 2075: 255,370 · +121.1%
• By 2100: 316,429 · +174.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 7% Hispanic / Latino 6% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 6% Iranian 2% Slovak 2%
• Foreign-born: 11% · China, Canada, South Korea
• Languages at home: 88% English-only · Chinese 3% Other Indo-European 3% Spanish 2%

Political lean MEDSL · Story

• 2024 margin: D (+10.4) · D 54.4% · R 44.0% · Other 1.6%
• 2008→2024 swing: -5.8pp toward R · 2008: 16.2pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+17.3 2016: D+12.2 2012: D+13.7 2008: D+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.78%
• Current HPI: 170.4215
• Rent YoY: ▲ 2.69%
• Metro: Ames, 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

+12.0% since first listed

13 events — show timeline

• 2026-03-26 Pending — CIBOR
• 2026-03-09 Price Changed $112,000 CIBOR
• 2026-02-02 Listed $140,000 CIBOR
• 2019-03-28 Sold (Public Records) $99,000 Public Records
• 2019-03-25 Sold (MLS) $99,000 CIBOR
• 2018-08-27 Listed $101,900 DMMLS
• 2018-08-14 Listed $101,900 CIBOR
• 2018-07-10 Listing Removed — DMMLS
• 2018-06-06 Listed $109,900 DMMLS
• 2018-06-06 Listed $109,900 CIBOR
• 2013-10-04 Sold (MLS) $80,000 DMMLS
• 2013-08-26 Listed $84,900 DMMLS
• 2012-01-04 Sold (Public Records) $100,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,772 · +2.1% YoY. Source: county tax records.