500 S Birch St · Creston, IA 50801

$99,500

4 bd · 1.5 ba · 2,240 sqft · SingleFamily · 34 Days on market

Good condition 0.33 ac lot $44/sqft · 10% below area Est $110k · 10% under

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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 +29.1/30.0
• ARV discount +12.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This brick on block church has been very well cared for and ready for a new owner! The city has this property zoned residential 1. This property would make an ideal single family dwelling with 2048 square feet on each level. The HVAC was installed in 2011 and 2026 with two A/C units, the roof was replaced in 2007 and a new sewer line to the north in 2013. All personal property and installed lighting and the sound system are reserved by tenant and seller. The appliances are included but not warrantied. No benches to remove as all chairs and personal property including doll house and shed are excluded, leaving wide open living space! This property is located on a nice sized corner lot, wi

Key facts

• Hvac installed
• Zoned residential
• Two a/c units

Tags

• ZONED RESIDENTIAL
• HVAC INSTALLED
• TWO A/C UNITS
• ROOF REPLACED
• NEW SEWER LINE
• CORNER LOT

Property features AI

Finance

• Other: Directions: Hwy 34 then north on Birch Street to 500 S. Birch

Exterior

• Parking: Gravel parking area
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Block construction; Foundation area listed as 2,240
• Exterior features: Gravel parking; Lot approximately 0.33 acres (120 x 120); Zoned for single-family residential

Interior

• Bathrooms: Three half bathrooms
• Heating & cooling: Central Air; Forced Air heating
• Interior features: Basement present; Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.0% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 77 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $96,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.75%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

• ARV (median comp): $110,499
• List price: $99,500
• Delta: -9.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 N Vine St	0.52mi	4/2.0	2,208 (-1%)	11mo	$125,000	$57	62
903 S Cherry St	0.42mi	3/3.0 (-1)	2,162 (-4%)	7mo	$335,000	$155	58
511 W Adams St	0.54mi	4/1.5	2,086 (-7%)	13mo	$32,000	$15	52
508 W Adams St	0.57mi	3/2.0 (-1)	2,282 (+2%)	16mo	$90,000	$39	50
601 W Montgomery St	0.63mi	4/2.0	2,361 (+5%)	20mo	$155,000	$66	43
407 N Maple St	0.66mi	4/2.5	2,130 (-5%)	18mo	$234,000	$110	42
608 S Division St	0.39mi	3/2.0 (-1)	2,467 (+10%)	20mo	$57,000	$23	41
402 N Pine St	0.63mi	4/2.0	1,916 (-14%)	9mo	$165,000	$86	37

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: 5.3%
• Equity multiple: 1.20×
• Total profit: $5,709
• Equity at exit: $14,836

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $33,139
• Equity at exit: $8,603

Cash invested: $27,860 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 77
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $342

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 69%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   status $99,500 Pending 34 DOM
2. 2026-06-17
   days on market $99,500 Active 34 DOM
3. 2026-06-16
   days on market $99,500 Active 33 DOM
4. 2026-06-15
   days on market $99,500 Active 32 DOM
5. 2026-06-13
   days on market $99,500 Active 30 DOM
6. 2026-06-12
   days on market $99,500 Active 29 DOM
7. 2026-06-09
   days on market $99,500 Active 26 DOM
8. 2026-06-08
   days on market $99,500 Active 25 DOM
9. 2026-06-07
   days on market $99,500 Active 24 DOM
10. 2026-06-07
    days on market $99,500 Active 23 DOM
11. 2026-06-04
    days on market $99,500 Active 20 DOM
12. 2026-06-02
    days on market $99,500 Active 19 DOM
13. 2026-06-01
    days on market $99,500 Active 18 DOM
14. 2026-05-31
    days on market $99,500 Active 17 DOM
15. 2026-05-31
    days on market $99,500 Active 16 DOM
16. 2026-05-14
    listed $99,500 Active 798-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,647
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$2,895
• Taxable income: $2,686
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $3,465/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained brick church has good curb appeal and is ready for a new owner. Minor repairs and updates could further enhance its resale and rental value.

Repairs flagged

• Minor Checkered tile in basement — Can be replaced with a more modern material

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace checkered tile with modern flooring — Improves functionality and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Checkered tile in basement · Can be replaced with a more modern material	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace checkered tile with modern flooring — Improves functionality and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

2 events — show timeline

• 2026-06-17 Pending — IAR
• 2026-05-14 Listed $99,500 IAR