511 W Broadway St · Colfax, IA 50054

$25,000

3 bd · 1.0 ba · 768 sqft · SingleFamily public records · 7 Days on market

Built 1895 5,969 sqft lot $33/sqft · 82% below area ↓ 12% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This house needs a lot of work. Sold as is. wood heat

Key facts

• 5,969 sq ft lot
• Built 1895
• Listed 7 days

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Wood siding exterior; Asphalt shingle roof; Brick/mortar foundation; Built on a 0.14-acre lot (approx. 47 x 127)
• Exterior features: Rectangular lot; Asphalt road surface

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating details: see remarks
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).

Location & tenants

• Location reads 74/100 on livability (#242 in IA, #4,698 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Colfax-Mingo Community School District (rural): math 59% / reading 66% proficiency, ranked #213 of 289 in IA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $173 of loan paydown is wiped out by about $750 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,000

Questions for the listing agent

1. Built in 1895 — 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 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?
5. 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?
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: 4.40% ✓
• Cap rate: 38.54%
• Cash-on-cash: 115.15%
• DSCR: 6.12
• GRM: 1.9

CMA / ARV

• ARV (median comp): $137,820
• List price: $25,000
• Delta: -81.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 W Broadway St	0.00mi	3/1.0	768 (0%)	0mo	$22,000	$29	100
34 E Broadway St	0.42mi	3/1.0	780 (+2%)	6mo	$135,000	$173	72
516 W Spring St	0.04mi	2/1.0 (-1)	876 (+14%)	2mo	$129,000	$147	68
412 W Pleasant St	0.18mi	3/1.5	858 (+12%)	9mo	$175,000	$204	62
214 W Broadway St	0.17mi	2/1.0 (-1)	815 (+6%)	19mo	$75,000	$92	61
313 W Broadway St	0.11mi	2/1.0 (-1)	876 (+14%)	9mo	$129,000	$147	59
625 S Lincoln St	0.67mi	3/2.0	798 (+4%)	18mo	$215,000	$269	43
314 E Front St	0.69mi	3/2.0	832 (+8%)	10mo	$194,700	$234	42
304 N Iowa St	0.66mi	3/1.0	692 (-10%)	21mo	$18,500	$27	35

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: —
• Equity multiple: 6.54×
• Total profit: $38,763
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 13.71×
• Total profit: $88,973
• Equity at exit: $2,162

Cash invested: $7,000 (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 50054

• Home prices YoY: -7.7%
• Active inventory: 22
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$56 /mo · $669/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $672

Break-even live

Break-even rent $250

Max offer price $25,000

Occupancy floor 34%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 W Pleasant St Colfax, IA	2.0	1.0	960	$1,100	$1.15	13d	1	0.22mi

Listing history 2 events

1. 2026-05-13
   status Pending 53-char remark
2. 2026-05-06
   listed $25,000 Active 53-char remark

ⓘ 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: $669 · $56/mo
• Projected year-2 tax: $669 · $56/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 1/10 Low
• 🌡 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: $13,200
• − Mortgage interest: −$1,400
• − Property taxes: −$669
• − Insurance: −$125
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$727
• Taxable income: $8,166
• Est. tax owed @ 24.0%: −$1,960
• After-tax cash flow: $6,101/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: Colfax-Mingo Community School District
• NCES district ID: 1900009
• Math proficiency: 59% ▼ -2.00%
• Reading proficiency: 66% ▲ 7.00%
• Median HH income: $53,956
• Composite: 53.51/100
• National rank: #1450
• State rank: #213 of 289 in IA

Livability — Colfax

• Score: 74/100
• State rank: #242
• US rank: #4698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colfax, IA
• City population: 3,179
• Population (ZIP): 3,179

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 5% Slovak 4% Portuguese 4%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 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: ▼ -23.08%
• Current HPI: 275.7
• 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

-12.0% since first listed

3 events — show timeline

• 2026-06-09 Sold (MLS) $22,000 DMMLS
• 2026-05-13 Pending — DMMLS
• 2026-05-06 Listed $25,000 DMMLS

Property tax history

+5.7%/yr

Latest (2025): $669 · +29.2% YoY. Source: county tax records.