817 Pierce St · Iowa Falls, IA 50126

$99,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 54 Days on market

Built 1937 3,920 sqft lot $119/sqft · at area comps Est $98k · at est.

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Why this score? — see what drove the C- 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 +19.2/30.0
• ARV discount +6.9/15.0
• DSCR +6.1/10.0
• Schools +5.6/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 3-bedroom, 1-bath home located right in the center of Iowa Falls, offering a practical layout for a great value. This home offers two main-level bedrooms for easy living, along with a spacious upper-level attic that serves as a third bedroom or flexible bonus space. Enjoy the ease of low utility costs, making this property an excellent option for budget-conscious buyers or investors looking for solid cash-flow potential. Additional features include: single-stall garage, functional floor plan with great use of space, manageable lot with easy upkeep and a back deck for grilling and enjoying time outside. Whether you’re a first-time homebuyer looking to st

Key facts

• Upper level attic
• Single stall garage
• Main level bedrooms

Tags

• MAIN LEVEL BEDROOMS
• UPPER LEVEL ATTIC
• LOW UTILITY COSTS
• SINGLE STALL GARAGE
• BACK DECK

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Residential property type
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.09 acres (48 x 77)

Interior

• Kitchen: Range; Exhaust fan; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Range; Exhaust fan; Refrigerator; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $96k (3.4% below list).
• Recommended offer: $96k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.8% in Iowa Falls — 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 77/100 on livability (#172 in IA, #3,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Iowa Falls Community School District (town): math 62% / reading 71% proficiency, ranked #184 of 289 in IA (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $99k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,595 (3.4% below list)

Questions for the listing agent

1. It's been on market 54 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 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.97% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $97,766
• List price: $99,000
• Delta: 1.26%
• 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
421 Cedar St	0.27mi	2/1.0	824 (-1%)	1mo	$70,000	$85	85
1018 Rocksylvania Ave	0.27mi	2/1.0	854 (+3%)	7mo	$162,500	$190	78
710 Iowa St	0.18mi	2/1.0	896 (+8%)	11mo	$76,000	$85	69
1710 Custer St	0.55mi	2/1.5	864 (+4%)	1mo	$163,000	$189	65
810 Stevens St	0.18mi	2/1.5	936 (+12%)	11mo	$128,000	$137	60
507 Cedar St	0.23mi	3/1.0 (+1)	858 (+3%)	23mo	$50,000	$58	60
413 School St	0.53mi	2/1.0	810 (-3%)	18mo	$127,000	$157	56
115 Thompson Ave	0.70mi	2/1.0	780 (-6%)	23mo	$85,500	$110	38

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-9,228
• Equity at exit: $14,761

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $718
• Equity at exit: $8,560

Cash invested: $27,720 (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 50126

• Active inventory: 92
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$88 /mo · $1,052/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $107

Break-even live

Break-even rent $820

Max offer price $99,000

Occupancy floor 84%

Sensitivity live

Price	-10% $163	-5% $135	+0% $107	+5% $79	+10% $51
Rent	-10% $32	-5% $69	+0% $107	+5% $145	+10% $183
Rate	-1.0pp $157	-0.5pp $132	base $107	+0.5pp $81	+1.0pp $55

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $99,000 Active 54 DOM
2. 2026-06-18
   days on market $99,000 Active 52 DOM
3. 2026-06-17
   days on market $99,000 Active 51 DOM
4. 2026-06-16
   days on market $99,000 Active 50 DOM
5. 2026-06-15
   days on market $99,000 Active 49 DOM
6. 2026-06-13
   days on market $99,000 Active 47 DOM
7. 2026-06-12
   days on market $99,000 Active 46 DOM
8. 2026-06-09
   days on market $99,000 Active 43 DOM
9. 2026-06-08
   days on market $99,000 Active 42 DOM
10. 2026-06-07
    days on market $99,000 Active 41 DOM
11. 2026-06-07
    days on market $99,000 Active 40 DOM
12. 2026-06-04
    days on market $99,000 Active 37 DOM
13. 2026-06-02
    days on market $99,000 Active 36 DOM
14. 2026-06-01
    days on market $99,000 Active 35 DOM
15. 2026-05-31
    days on market $99,000 Active 34 DOM
16. 2026-05-31
    days on market $99,000 Active 33 DOM
17. 2026-05-05
    price $99,000 899-char remark
18. 2026-04-27
    listed $120,000 Active 899-char remark
19. 2015-01-05
    soldstatus $45,000

ⓘ 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: $1,052 · $88/mo
• Projected year-2 tax: $1,303 · $109/mo
• Expected delta: +$251/yr (+$21/mo · 23.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $11,471
• − Mortgage interest: −$5,546
• − Property taxes: −$1,052
• − Insurance: −$495
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$2,880
• Taxable loss: −$337
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $1,366/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: Iowa Falls Community School District
• NCES district ID: 1914730
• Math proficiency: 62% ▼ -9.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $46,696
• Composite: 56.12/100
• National rank: #1182
• State rank: #184 of 289 in IA

Livability — Iowa Falls

• Score: 77/100
• State rank: #172
• US rank: #3097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Falls, IA
• City population: 6,362
• Population (ZIP): 6,362

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.54%
• Current HPI: 146.3741
• 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

+120.0% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $99,000 IAR
• 2026-04-27 Listed $120,000 IAR
• 2015-01-05 Sold (Public Records) $45,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,052 · +5.0% YoY. Source: county tax records.