704 15th St · Belle Plaine, IA 52208

$149,000

4 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 29 Days on market

Built 1900 9,583 sqft lot Est $129k · 16% over

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Why this score? — see what drove the D+ 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 +14.0/30.0
• Appreciation +10.0/10.0
• Schools +5.9/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0

Listing remarks MLS

Spacious home with lots of potential to be great again! New garage, metal roof and concrete in the driveway are worth a lot of money themselves. Large kitchen with a nice layout, formal dining with original hardwood floors. As you keep wandering through the house you find a nice porch and large family room as well as a spacious bathroom. Upstairs are three bedrooms and some more original hardwoods. The back yard backs up to a play ground and lots of green space for kids to run around. The oversized one stall is only a couple of years old!

Key facts

• 9,583 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; Garage door opener; Off-street parking; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half levels; 1 story
• Construction: Aluminum siding and frame construction; Block foundation
• Exterior features: Patio

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Washer; Dryer; Water softener (owned); Gas water heater; Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $19 ($225/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (15.8% below list).
• Recommended offer: $125k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#215 in IA, #3,962 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Belle Plaine Community School District (rural): math 68% / reading 74% proficiency, ranked #144 of 289 in IA (top 50%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Belle Plaine Jr/Sr High School (math 62% / reading 77%, grade B, #152 of 336 statewide, top 52%, 193 students, 35% FRL).
• Market conditions: 31 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($147k) 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.
• Current owner paid $53k; list at $149k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,467 (15.8% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $128,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1813 9th Ave	0.34mi	4/1.5	1,396 (+2%)	4mo	$179,500	$129	76
504 17th St	0.26mi	3/1.5 (-1)	1,363 (-1%)	5mo	$140,000	$103	75
704 15th St	0.00mi	5/1.0 (+1)	1,550 (+13%)	4mo	$53,000	$34	70
1104 15th St	0.34mi	4/2.0	1,458 (+6%)	5mo	$95,000	$65	65
712 19th St	0.34mi	3/1.5 (-1)	1,431 (+4%)	7mo	$223,000	$156	64
1509 9th Ave	0.18mi	3/2.0 (-1)	1,300 (-5%)	13mo	$270,000	$208	63
1509 6th Ave	0.11mi	3/1.0 (-1)	1,544 (+12%)	7mo	$62,000	$40	63
1502 9th Ave	0.13mi	3/1.5 (-1)	1,526 (+11%)	9mo	$127,500	$84	61
1212 15th St	0.46mi	5/1.0 (+1)	1,296 (-6%)	7mo	$84,000	$65	58
1512 7th Ave	0.07mi	3/2.0 (-1)	1,201 (-12%)	14mo	$87,000	$72	55
705 10th St	0.36mi	3/1.5 (-1)	1,176 (-14%)	6mo	$110,000	$94	48
1210 8th St	0.67mi	3/2.0 (-1)	1,248 (-9%)	5mo	$185,000	$148	40

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.97×
• Total profit: $82,326
• Equity at exit: $134,231

10-year hold

• IRR: 21.8%
• Equity multiple: 6.79×
• Total profit: $241,467
• Equity at exit: $289,474

Cash invested: $41,720 (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 52208

• Home prices YoY: 5.4%
• Active inventory: 31
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $19

Break-even live

Break-even rent $1,231

Max offer price $149,000

Occupancy floor 94%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $149,000 Active 29 DOM
2. 2026-06-17
   days on market $149,000 Active 28 DOM
3. 2026-06-16
   days on market $149,000 Active 27 DOM
4. 2026-06-15
   days on market $149,000 Active 26 DOM
5. 2026-06-13
   days on market $149,000 Active 24 DOM
6. 2026-06-12
   days on market $149,000 Active 23 DOM
7. 2026-06-09
   days on market $149,000 Active 20 DOM
8. 2026-06-08
   days on market $149,000 Active 19 DOM
9. 2026-06-07
   days on market $149,000 Active 18 DOM
10. 2026-06-07
    days on market $149,000 Active 17 DOM
11. 2026-06-04
    days on market $149,000 Active 14 DOM
12. 2026-06-02
    days on market $149,000 Active 13 DOM
13. 2026-06-01
    days on market $149,000 Active 12 DOM
14. 2026-05-31
    days on market $149,000 Active 11 DOM
15. 2026-05-31
    days on market $149,000 Active 10 DOM
16. 2026-05-19
    listed $149,000 Active
17. 2026-03-02
    soldstatus $53,000
18. 2026-02-23
    soldstatus $53,000 Closed 544-char remark

    Show marketing remark (544 chars)

    Spacious home with lots of potential to be great again! New garage, metal roof and concrete in the driveway are worth a lot of money themselves. Large kitchen with a nice layout, formal dining with original hardwood floors. As you keep wandering through the house you find a nice porch and large family room as well as a spacious bathroom. Upstairs are three bedrooms and some more original hardwoods. The back yard backs up to a play ground and lots of green space for kids to run around. The oversized one stall is only a couple of years old!

19. 2026-01-12
    status Pending 544-char remark

    Show marketing remark (544 chars)

    Spacious home with lots of potential to be great again! New garage, metal roof and concrete in the driveway are worth a lot of money themselves. Large kitchen with a nice layout, formal dining with original hardwood floors. As you keep wandering through the house you find a nice porch and large family room as well as a spacious bathroom. Upstairs are three bedrooms and some more original hardwoods. The back yard backs up to a play ground and lots of green space for kids to run around. The oversized one stall is only a couple of years old!

20. 2025-12-29
    price $60,000 544-char remark

    Show marketing remark (544 chars)

    Spacious home with lots of potential to be great again! New garage, metal roof and concrete in the driveway are worth a lot of money themselves. Large kitchen with a nice layout, formal dining with original hardwood floors. As you keep wandering through the house you find a nice porch and large family room as well as a spacious bathroom. Upstairs are three bedrooms and some more original hardwoods. The back yard backs up to a play ground and lots of green space for kids to run around. The oversized one stall is only a couple of years old!

21. 2025-11-26
    listed $65,000 Active 544-char remark

    Show marketing remark (544 chars)

    Spacious home with lots of potential to be great again! New garage, metal roof and concrete in the driveway are worth a lot of money themselves. Large kitchen with a nice layout, formal dining with original hardwood floors. As you keep wandering through the house you find a nice porch and large family room as well as a spacious bathroom. Upstairs are three bedrooms and some more original hardwoods. The back yard backs up to a play ground and lots of green space for kids to run around. The oversized one stall is only a couple of years old!

22. 1988-08-16
    soldstatus $25,000

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,944 · $162/mo
• Expected delta: +$396/yr (+$33/mo · 25.6%)

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

Taxation est. · year 1

• Rental income: $15,056
• − Mortgage interest: −$8,346
• − Property taxes: −$1,548
• − Insurance: −$745
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$4,335
• Taxable loss: −$2,327
• Est. tax savings @ 24.0%: +$558
• After-tax cash flow: $783/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: Belle Plaine Community School District
• NCES district ID: 1904620
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $42,054
• Composite: 59.42/100
• National rank: #927
• State rank: #144 of 289 in IA

Livability — Belle Plaine

• Score: 75/100
• State rank: #215
• US rank: #3962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belle Plaine, IA
• Population (ZIP): 2,921

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% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▲ 12.07%
• Current HPI: 237.1468
• 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

+496.0% since first listed

7 events — show timeline

• 2026-05-19 Listed $149,000 CRAAR, CDRMLS
• 2026-03-02 Sold (Public Records) $53,000 Public Records
• 2026-02-23 Sold (MLS) $53,000 CRAAR, CDRMLS
• 2026-01-12 Pending — CRAAR, CDRMLS
• 2025-12-29 Price Changed $60,000 CRAAR, CDRMLS
• 2025-11-26 Listed $65,000 CRAAR, CDRMLS
• 1988-08-16 Sold (Public Records) $25,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,548 · +6.9% YoY. Source: county tax records.