Terrace Plan · Pella, IA 50219

$259,500

3 bd · 4.5 ba · 1,767 sqft · SingleFamily · 816 Days on market

$12/mo HOA · 1% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Cash flow +4.6/30.0
• Rent growth +4.5/5.0
• Livability +4.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Destiny Homes presents their Terrace floor plan. This ranch plan features three bedrooms, 2.5 bathrooms, and over 1700 square feet of finished space. The dining area sits at the front of the home and opens up to the kitchen/living room that boasts large picture windows, electric fireplace, pantry, island, and stainless steel appliances. Master bedroom features a walk-in closet, shower, and large vanity. Two more bedrooms and a full bath are located in the lower level of the home. There is a long list of standard features not often found at this price point, including electric fireplace, energy efficiency, SMART Home Automation, and 2x6 construction. Ask about $2,000 in closing costs provided by preferred lender.

Key facts

• 2 parking spots
• Listed 815 days

🏗️ New construction. The $259,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $304,479.

What this means for you Summary

Snapshot

• This is a 3-bed/4.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-769 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (34.3% below list).
• Recommended offer: $171k (34.3% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 2.0% in Pella — 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 90/100 on livability (#6 in IA, #101 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Pella Community School District (town): math 85% / reading 85% proficiency, ranked #8 of 289 in IA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.2%/yr); 243 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 816 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.

Recommended offer $170,532 (34.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 816 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.56% ✗
• Cap rate: 3.26%
• Cash-on-cash: -10.82%
• DSCR: 0.52
• GRM: 14.9

CMA / ARV

• ARV (median comp): $304,479
• List price: $259,500
• Delta: -14.77%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -30.6%
• Equity multiple: -0.05×
• Total profit: $-89,270
• Equity at exit: $45,399

10-year hold

• IRR: -17.9%
• Equity multiple: -0.17×
• Total profit: $-99,648
• Equity at exit: $26,326

Cash invested: $85,254 (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 50219

• Home prices YoY: -33.5%
• Rents YoY: 8.2%
• Active inventory: 243
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,705 medium
• Mortgage (P&I): −$1,597
• Tax est. 1.5%: −$381 /mo · $4,567/yr
• Insurance: −$127
• HOA: −$12
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-769

Break-even live

Break-even rent $2,679

Max offer price $193,206

Occupancy floor —

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: $76,120
• Closing costs: $9,134
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1191 W 16th St Pella, IA	3.0	1.0–1.5	1245	$1,370	$1.10	44d	1	0.76mi
1117 Sunflower Ln Pella, IA	3.0	2.5	1405	$1,850	$1.32	44d	1	0.82mi
1428 Edgewood Dr Pella, IA	4.0	3.0	1451	$2,200	$1.52	23d	1	1.21mi
612 Bos Landen Dr Unit 5C Pella, IA	2.0	2.0	1293	$2,200	$1.70	44d	1	1.25mi

HOA detail

• Monthly dues: $12 · $144/yr
• Likely covers: electric

Listing history 17 events

1. 2026-06-19
   days on market $259,500 Active 816 DOM
2. 2026-06-18
   days on market $259,500 Active 815 DOM
3. 2026-06-17
   days on market $259,500 Active 814 DOM
4. 2026-06-16
   days on market $259,500 Active 813 DOM
5. 2026-06-15
   days on market $259,500 Active 812 DOM
6. 2026-06-14
   days on market $259,500 Active 810 DOM
7. 2026-06-12
   days on market $259,500 Active 809 DOM
8. 2026-06-09
   days on market $259,500 Active 806 DOM
9. 2026-06-08
   days on market $259,500 Active 805 DOM
10. 2026-06-07
    days on market $259,500 Active 804 DOM
11. 2026-06-07
    days on market $259,500 Active 803 DOM
12. 2026-06-03
    days on market $259,500 Active 800 DOM
13. 2026-06-02
    days on market $259,500 Active 799 DOM
14. 2026-06-01
    days on market $259,500 Active 798 DOM
15. 2026-05-31
    days on market $259,500 Active 797 DOM
16. 2026-05-30
    days on market $259,500 Active 796 DOM
17. 2024-03-25
    listed $259,500 Active 721-char remark

    Show marketing remark (721 chars)

    Destiny Homes presents their Terrace floor plan. This ranch plan features three bedrooms, 2.5 bathrooms, and over 1700 square feet of finished space. The dining area sits at the front of the home and opens up to the kitchen/living room that boasts large picture windows, electric fireplace, pantry, island, and stainless steel appliances. Master bedroom features a walk-in closet, shower, and large vanity. Two more bedrooms and a full bath are located in the lower level of the home. There is a long list of standard features not often found at this price point, including electric fireplace, energy efficiency, SMART Home Automation, and 2x6 construction. Ask about $2,000 in closing costs provided by preferred lender.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,464
• − Mortgage interest: −$17,056
• − Property taxes: −$4,567
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − HOA: −$144
• − Depreciation: −$8,858
• Taxable loss: −$14,957
• Est. tax savings @ 24.0%: +$3,590
• After-tax cash flow: $-5,638/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: Pella Community School District
• NCES district ID: 1922470
• Math proficiency: 85% ▼ -1.00%
• Reading proficiency: 85% ▬ 0.00%
• Median HH income: $65,821
• Composite: 73.32/100
• National rank: #183
• State rank: #8 of 289 in IA

Livability — Pella

• Score: 90/100
• State rank: #6
• US rank: #101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pella, IA
• County: Marion County · 25,533 people
• City population: 14,416
• Metro: Pella, IA
• Population (ZIP): 14,416
• Household income: $86,807
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 374.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Iranian 31% Portuguese 4% Italian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.86%
• Current HPI: 227.7361
• Rent YoY: ▲ 8.16%
• Metro: Pella, 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

1 event — show timeline

• 2024-03-25 Listed $259,500 Zillow