201 E 3rd St · Auburn, IA 51433

$135,000

3 bd · 1.5 ba · 1,648 sqft · SingleFamily public records · 228 Days on market

Built 1918 0.32 ac lot $82/sqft · 9% below area Est $148k · 9% 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 +15.7/30.0
• ARV discount +11.4/15.0
• Schools +5.4/10.0
• Appreciation +5.0/10.0
• DSCR +4.8/10.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming home filled with beautiful woodwork and timeless character. This 3 bedroom gem sits on a nice quiet corner lot in a peaceful neighborhood. There are some newer windows on the upper level and a new front door. This home is in a quiet neighborhood and only 12 miles from Carroll and 10 from Lake View. Enjoy mornings on the covered porch and peace of mind with a brand-new roof. A true blend of comfort, charm & craftsmanship! The appliances are included but not warranted. There is a 1000 gal LP tank that goes with the property.

Key facts

• Covered porch
• 1000 gal lp tank
• Brand-new roof

Tags

• CORNER LOT
• NEWER WINDOWS
• NEW FRONT DOOR
• COVERED PORCH
• BRAND-NEW ROOF
• 1000 GAL LP TANK

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $58 ($701/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 $118k (12.6% below list).
• Recommended offer: $118k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#404 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, amenities F.
• East Sac County Community School District (rural): math 60% / reading 68% proficiency, ranked #211 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 6 units permitted in Sac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• Sac County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,971 (12.6% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.87% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 9.5

CMA / ARV

• ARV (median comp): $147,775
• List price: $135,000
• Delta: -8.65%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Ash St	0.08mi	3/1.0	1,661 (+1%)	18mo	$115,640	$70	78

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: 9.2%
• Equity multiple: 1.53×
• Total profit: $19,966
• Equity at exit: $60,702

10-year hold

• IRR: 11.7%
• Equity multiple: 2.74×
• Total profit: $65,855
• Equity at exit: $93,549

Cash invested: $37,800 (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 51433

• Active inventory: 2
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $58

Break-even live

Break-even rent $1,106

Max offer price $135,000

Occupancy floor 90%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $135,000 Active 228 DOM
2. 2026-06-17
   days on market $135,000 Active 227 DOM
3. 2026-06-16
   days on market $135,000 Active 226 DOM
4. 2026-06-15
   days on market $135,000 Active 225 DOM
5. 2026-06-13
   days on market $135,000 Active 223 DOM
6. 2026-06-12
   days on market $135,000 Active 222 DOM
7. 2026-06-09
   days on market $135,000 Active 219 DOM
8. 2026-06-08
   days on market $135,000 Active 218 DOM
9. 2026-06-07
   days on market $135,000 Active 217 DOM
10. 2026-06-07
    days on market $135,000 Active 216 DOM
11. 2026-06-04
    days on market $135,000 Active 213 DOM
12. 2026-06-02
    days on market $135,000 Active 212 DOM
13. 2026-06-01
    days on market $135,000 Active 211 DOM
14. 2026-05-31
    days on market $135,000 Active 210 DOM
15. 2026-05-31
    days on market $135,000 Active 209 DOM
16. 2025-11-02
    listed $135,000 Active 543-char remark

    Show marketing remark (543 chars)

    Charming home filled with beautiful woodwork and timeless character. This 3 bedroom gem sits on a nice quiet corner lot in a peaceful neighborhood. There are some newer windows on the upper level and a new front door. This home is in a quiet neighborhood and only 12 miles from Carroll and 10 from Lake View. Enjoy mornings on the covered porch and peace of mind with a brand-new roof. A true blend of comfort, charm & craftsmanship! The appliances are included but not warranted. There is a 1000 gal LP tank that goes with the property.

ⓘ 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: $1,312 · $109/mo
• Projected year-2 tax: $1,716 · $143/mo
• Expected delta: +$404/yr (+$34/mo · 30.8%)

ⓘ 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 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: $14,157
• − Mortgage interest: −$7,562
• − Property taxes: −$1,312
• − Insurance: −$675
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$3,927
• Taxable loss: −$1,585
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $1,082/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: East Sac County Community School District
• NCES district ID: 1929580
• Math proficiency: 60% ▼ -10.00%
• Reading proficiency: 68% ▲ 3.00%
• Median HH income: $46,988
• Composite: 54.08/100
• National rank: #1389
• State rank: #211 of 289 in IA

Livability — Auburn

• Score: 69/100
• State rank: #404
• US rank: #8608

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, IA
• Population (ZIP): 567

Population outlook (Sac County) Hauer SSP2

• Today (2025): 9,438 people
• By 2030: 9,148 · -3.1%
• By 2040: 8,660 · -8.2%
• By 2050: 8,256 · -12.5%
• By 2075: 7,832 · -17.0%
• By 2100: 7,110 · -24.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Hispanic / Latino 1%
• Common ancestry: Iranian 25% Slovak 23% Danish 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Sac

• 2024 margin: Solid R (+51.6) · D 23.7% · R 75.3% · Other 1.1%
• 2008→2024 swing: -42.7pp toward R · 2008: -8.9pp · 2024: -51.6pp
• All cycles: 2024: R+51.6 2020: R+48.3 2016: R+47.0 2012: R+18.4 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2025-11-02 Listed $135,000 IAR

Property tax history

+6.9%/yr

Latest (2025): $1,312 · +8.3% YoY. Source: county tax records.