210 NE 3rd St · Panora, IA 50216

$29,900

2 bd · 1.0 ba · 1,566 sqft · SingleFamily public records · 40 Days on market

Built 1900 0.28 ac lot $19/sqft · 85% below area ↓ 43% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Location, location, location! Have you been waiting for an investment property in the absolute perfect location? You found it! This home is located in the heart of the Panora community. Come take a look today!

Key facts

• 0.28 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Vinyl-sided exterior; Asphalt shingle roof
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Concrete road frontage; Residential zoning

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: One 3/4 bathroom
• Heating & cooling: Heating: see remarks
• Interior features: Unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#195 in IA, #3,572 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Panorama Community School District (rural): math 70% / reading 69% proficiency, ranked #146 of 289 in IA (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 81 active listings in the ZIP; 21 units permitted in Guthrie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($207 loan paydown + $2k appreciation (6.4% local appreciation)).
• Guthrie County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.49% ✓
• Cap rate: 30.02%
• Cash-on-cash: 84.73%
• DSCR: 4.77
• GRM: 2.4

CMA / ARV

• ARV (median comp): $195,585
• List price: $29,900
• Delta: -84.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 E Jackson St	0.28mi	3/1.5 (+1)	1,515 (-3%)	1mo	$196,000	$129	74
312 E Church St	0.23mi	3/2.0 (+1)	1,452 (-7%)	11mo	$240,000	$165	59
413 W Church St	0.45mi	3/2.0 (+1)	1,541 (-2%)	11mo	$214,000	$139	58
318 N 1st St	0.18mi	3/2.0 (+1)	1,404 (-10%)	11mo	$147,500	$105	56
804 E Main St	0.44mi	3/1.0 (+1)	1,725 (+10%)	1mo	$90,000	$52	56
206 SE 8th St	0.47mi	2/2.0	1,494 (-5%)	17mo	$172,000	$115	53
503 W Clay St	0.48mi	3/2.0 (+1)	1,500 (-4%)	17mo	$410,000	$273	47
102 W Jackson St	0.34mi	3/2.0 (+1)	1,728 (+10%)	13mo	$240,000	$139	47
200 SE 7th St	0.39mi	3/2.0 (+1)	1,344 (-14%)	4mo	$250,000	$186	46
110 W Jackson St	0.34mi	2/3.0	1,388 (-11%)	14mo	$233,000	$168	46
404 W Jackson St	0.48mi	3/1.5 (+1)	1,432 (-9%)	18mo	$180,000	$126	41

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

Projected returns pro-forma

6.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.5%
• Equity multiple: 6.61×
• Total profit: $46,995
• Equity at exit: $19,522

10-year hold

• IRR: 88.9%
• Equity multiple: 13.98×
• Total profit: $108,654
• Equity at exit: $36,045

Cash invested: $8,372 (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 50216

• Home prices YoY: 2.5%
• Active inventory: 81
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,044 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $591

Break-even live

Break-even rent $295

Max offer price $29,900

Occupancy floor 38%

Sensitivity live

Price	-10% $608	-5% $600	+0% $591	+5% $583	+10% $574
Rent	-10% $509	-5% $550	+0% $591	+5% $632	+10% $674
Rate	-1.0pp $606	-0.5pp $599	base $591	+0.5pp $583	+1.0pp $575

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   status $29,900 Pending 40 DOM
2. 2026-06-17
   days on market $29,900 Active 40 DOM
3. 2026-06-16
   days on market $29,900 Active 39 DOM
4. 2026-06-15
   days on market $29,900 Active 38 DOM
5. 2026-06-13
   days on market $29,900 Active 36 DOM
6. 2026-06-12
   days on market $29,900 Active 35 DOM
7. 2026-06-09
   days on market $29,900 Active 32 DOM
8. 2026-06-08
   days on market $29,900 Active 31 DOM
9. 2026-06-07
   days on market $29,900 Active 30 DOM
10. 2026-06-07
    days on market $29,900 Active 29 DOM
11. 2026-06-04
    days on market $29,900 Active 26 DOM
12. 2026-06-02
    days on market $29,900 Active 25 DOM
13. 2026-06-01
    days on market $29,900 Active 24 DOM
14. 2026-05-31
    days on market $29,900 Active 23 DOM
15. 2026-05-31
    days on market $29,900 Active 22 DOM
16. 2026-05-15
    price $37,500 212-char remark
17. 2026-05-08
    listed $52,100 Active 212-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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/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 · 16 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: $12,522
• − Mortgage interest: −$1,675
• − Property taxes: −$768
• − Insurance: −$150
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$870
• Taxable income: $7,056
• Est. tax owed @ 24.0%: −$1,694
• After-tax cash flow: $5,400/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: Panorama Community School District
• NCES district ID: 1900025
• Math proficiency: 70% ▼ -1.00%
• Reading proficiency: 69% ▲ 8.00%
• Median HH income: $53,636
• Composite: 59.31/100
• National rank: #933
• State rank: #146 of 289 in IA

Livability — Panora

• Score: 76/100
• State rank: #195
• US rank: #3572

Category grades

Amenities F Commute F 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: Panora, IA
• City population: 2,809
• Population (ZIP): 2,809

Population outlook (Guthrie County) Hauer SSP2

• Today (2025): 10,248 people
• By 2030: 9,993 · -2.5%
• By 2040: 9,440 · -7.9%
• By 2050: 8,926 · -12.9%
• By 2075: 8,466 · -17.4%
• By 2100: 7,842 · -23.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 1% Black 1%
• Common ancestry: Italian 3% Serbian 3% Portuguese 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Guthrie

• 2024 margin: Solid R (+38.0) · D 30.3% · R 68.2% · Other 1.4%
• 2008→2024 swing: -30.3pp toward R · 2008: -7.7pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+35.9 2016: R+33.3 2012: R+10.2 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.38%
• Current HPI: 265.8266
• 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

-42.6% since first listed

4 events — show timeline

• 2026-06-17 Pending — DMMLS
• 2026-05-26 Price Changed $29,900 DMMLS
• 2026-05-15 Price Changed $37,500 DMMLS
• 2026-05-08 Listed $52,100 DMMLS

Property tax history

+1.8%/yr

Latest (2025): $768 · -2.8% YoY. Source: county tax records.