820 1st Ave E · Newton, IA 50208

$200,000

4 bd · 2.0 ba · 1,624 sqft · MultiFamily public records · 55 Days on market

Built 1905 8,480 sqft lot $123/sqft · 15% below area Est $235k · 15% under

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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 +16.7/30.0
• ARV discount +14.1/15.0
• DSCR +5.2/10.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Live for FREE – Rent the Other Side Or simply add a turn-key income property to your portfolio! This fully renovated duplex is located in the heart of Newton, with each unit offering 2 bedrooms, 1 bathroom, functional layouts, and abundant natural light. Major updates include new paint and flooring throughout, updated electrical, two new furnaces, one new A/C unit, a newer roof, and all new appliances in both units. Property is individually metered for utilities with basement laundry and storage available to both units. Two separate 2-car detached garages provide ample parking and storage for each tenant. The major mechanical work is already done, making this a low-maintenance opportu

Key facts

• Updated electrical
• Two new furnaces
• One new a/c unit

Tags

• TURN-KEY RENOVATED DUPLEX
• NEW PAINT AND FLOORING
• UPDATED ELECTRICAL
• TWO NEW FURNACES
• ONE NEW A/C UNIT
• NEWER ROOF

Property features AI

Exterior

• Parking: Attached garage with 4 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family property; Fronting east/west orientation not specified
• Construction: Brick/mortar foundation; Asphalt shingle roof
• Exterior features: Asphalt road access; Lot dimensions approximately 53 x 160

Interior

• Kitchen: Dishwasher; Microwave; Stove; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Partial basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $124 ($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 $172k (14.2% below list).
• Recommended offer: $172k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.1% in Newton — 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 (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $200k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,600 (14.2% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (median comp): $234,569
• List price: $200,000
• Delta: -14.74%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-24,589
• Equity at exit: $29,821

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-11,527
• Equity at exit: $17,292

Cash invested: $56,000 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $124

Break-even live

Break-even rent $1,559

Max offer price $200,000

Occupancy floor 88%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,716
Total (2 units)			$1,716

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 1st Ave W Newton, IA	4.0	2.0	2136	$1,850	$0.87	44d	1	0.90mi
603 E 22nd St S Newton, IA	4.0	1.0	1104	$1,725	$1.56	14d	1	0.98mi
812 N 3rd Ave W Newton, IA	4.0	1.0	1450	$1,450	$1.00	14d	1	1.08mi
712 W 12th St S Newton, IA	3.0	2.5	2087	$1,700	$0.81	23d	1	1.34mi
2305 E 19th St N Newton, IA	3.0	2.0	1140	$1,044	$0.92	14d	1	1.50mi

Listing history 20 events

1. 2026-06-17
   days on market $200,000 Active 55 DOM
2. 2026-06-16
   days on market $200,000 Active 54 DOM
3. 2026-06-15
   days on market $200,000 Active 53 DOM
4. 2026-06-14
   days on market $200,000 Active 51 DOM
5. 2026-06-13
   days on market $200,000 Active 50 DOM
6. 2026-06-10
   days on market $200,000 Active 48 DOM
7. 2026-06-09
   days on market $200,000 Active 47 DOM
8. 2026-06-08
   days on market $200,000 Active 46 DOM
9. 2026-06-07
   days on market $200,000 Active 45 DOM
10. 2026-06-05
    days on market $200,000 Active 42 DOM
11. 2026-06-03
    days on market $200,000 Active 41 DOM
12. 2026-06-02
    days on market $200,000 Active 40 DOM
13. 2026-06-01
    days on market $200,000 Active 39 DOM
14. 2026-05-31
    days on market $200,000 Active 38 DOM
15. 2026-05-31
    days on market $200,000 Active 37 DOM
16. 2026-05-11
    price $209,900 752-char remark
17. 2026-04-27
    price $219,900 752-char remark
18. 2026-04-23
    listed $229,000 Active 752-char remark
19. 2025-10-29
    soldstatus $90,000
20. 2025-10-29
    soldstatus $115,000

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $2,168 · $181/mo
• Expected delta: +$972/yr (+$81/mo · 81.3%)

ⓘ 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 ≥104°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: $20,592
• − Mortgage interest: −$11,203
• − Property taxes: −$1,196
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$5,818
• Taxable loss: −$1,920
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $1,947/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 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: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+122.2% since first listed

7 events — show timeline

• 2026-06-17 Listing Removed — DMMLS
• 2026-05-22 Price Changed $200,000 DMMLS
• 2026-05-11 Price Changed $209,900 DMMLS
• 2026-04-27 Price Changed $219,900 DMMLS
• 2026-04-23 Listed $229,000 DMMLS
• 2025-10-29 Sold (Public Records) $115,000 Public Records
• 2025-10-29 Sold (Public Records) $90,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,196 · +1.2% YoY. Source: county tax records.