305 Hill St · Churdan, IA 50050

$39,999

3 bd · 1.5 ba · 1,216 sqft · Other public records · 70 Days on market

Built 1921 8,184 sqft lot

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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 +7.9/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 305 Hill St. in Churdan, Iowa! This property offers a great opportunity in a quiet small-town setting. Conveniently located with easy drive to Jefferson, for shopping, and the Wild Rose, this home features a functional layout and plenty of potential for a new owner to make it their own. Whether you're looking for a primary residence, investment property, or renovation project, this home provides an affordable option in a peaceful community. Enjoy the charm of small-town living with room to add value. Schedule your showing today!

Key facts

• 8,184 sq ft lot
• Garage
• Built 1921

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#564 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: crime C-, amenities F, commute F.
• Paton-Churdan Community School District (rural): math 80% / reading 70% proficiency, ranked #111 of 330 in IA (top 34%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($276 loan paydown + $2k appreciation (5.9% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $13k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.75% ✓
• Cap rate: 23.54%
• Cash-on-cash: 61.59%
• DSCR: 3.74
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 69.3%
• Equity multiple: 5.27×
• Total profit: $47,856
• Equity at exit: $24,793

10-year hold

• IRR: 66.5%
• Equity multiple: 11.02×
• Total profit: $112,242
• Equity at exit: $44,660

Cash invested: $11,200 (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 50050

• Home prices YoY: 3.2%
• Active inventory: 8
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $575

Break-even live

Break-even rent $372

Max offer price $39,999

Occupancy floor 43%

Sensitivity live

Price	-10% $597	-5% $586	+0% $575	+5% $564	+10% $552
Rent	-10% $488	-5% $531	+0% $575	+5% $618	+10% $662
Rate	-1.0pp $595	-0.5pp $585	base $575	+0.5pp $564	+1.0pp $554

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-19
   status Pending
2. 2026-03-03
   price $39,999
3. 2026-01-07
   listed $52,900 Active
4. 2020-01-16
   historical
5. 2019-10-12
   listed $42,500
6. 2019-10-11
   listed $42,500
7. 2016-03-16
   historical
8. 2014-05-05
   listed $25,000
9. 2014-05-05
   listed $25,000

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $806 · $67/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°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: $13,191
• − Mortgage interest: −$2,241
• − Property taxes: −$806
• − Insurance: −$200
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$1,164
• Taxable income: $6,670
• Est. tax owed @ 24.0%: −$1,601
• After-tax cash flow: $5,297/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: Paton-Churdan Community School District
• NCES district ID: 1922380
• Math proficiency: 80% ▼ -5.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $47,486
• Composite: 64.29/100
• National rank: #1162
• State rank: #111 of 330 in IA

Livability — Churdan

• Score: 65/100
• State rank: #564
• US rank: #12776

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Churdan, IA
• Population (ZIP): 758

Population outlook (Greene County) Hauer SSP2

• Today (2025): 8,361 people
• By 2030: 8,090 · -3.2%
• By 2040: 7,607 · -9.0%
• By 2050: 7,186 · -14.1%
• By 2075: 6,528 · -21.9%
• By 2100: 5,799 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Asian 2% Native American 1%
• Common ancestry: Portuguese 5% Romanian 3% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+33.0) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -33.4pp toward R · 2008: 0.5pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+28.8 2016: R+23.8 2012: R+0.1 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.86%
• Current HPI: 191.3794
• 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

+60.0% since first listed

9 events — show timeline

• 2026-03-19 Pending — DMMLS
• 2026-03-03 Price Changed $39,999 DMMLS
• 2026-01-07 Listed $52,900 DMMLS
• 2020-01-16 Listing Removed — DMMLS
• 2019-10-12 Listed $42,500 DMMLS
• 2019-10-11 Listed $42,500 CIBOR
• 2016-03-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-05 Listed $25,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-05 Listed $25,000 IAR

Property tax history

+5.1%/yr

Latest (2025): $806 · +2.3% YoY. Source: county tax records.