16101 NE 104th St · Maxwell, IA 50161

$135,000

3 bd · 1.0 ba · 1,258 sqft · SingleFamily public records · 34 Days on market

Built 1890 1.29 ac lot ↓ 10% since listing

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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 +14.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

Key facts

• 1.29 acre lot
• Garage
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $37 ($447/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 (12.9% below list).
• Recommended offer: $118k (12.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#203 in IA, #3,711 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F.
• Collins-Maxwell Community School District (rural): math 62% / reading 69% proficiency, ranked #179 of 289 in IA (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,529 (12.9% below list)

Questions for the listing agent

1. It's been on market 34 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 1890 — 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: 0.87% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $75,891
• Equity at exit: $121,619

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $221,603
• Equity at exit: $262,275

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 50161

• Home prices YoY: 11.3%
• Active inventory: 19
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,175 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$127 /mo · $1,524/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $37

Break-even live

Break-even rent $1,128

Max offer price $135,000

Occupancy floor 92%

Sensitivity live

Price	-10% $114	-5% $75	+0% $37	+5% $-1	+10% $-39
Rent	-10% $-56	-5% $-9	+0% $37	+5% $84	+10% $130
Rate	-1.0pp $105	-0.5pp $72	base $37	+0.5pp $2	+1.0pp $-33

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 11 events

1. 2026-06-18
   days on marketlisting id $135,000 Pending 34 DOM
2. 2026-04-19
   status Pending 824-char remark

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

3. 2026-04-19
   status Pending

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

4. 2026-04-13
   price $135,000 824-char remark

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

5. 2026-04-13
   price $135,000

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

6. 2026-03-16
   status Active

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

7. 2026-03-16
   status Active 824-char remark

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

8. 2026-02-02
   historical
9. 2026-01-31
   historical 824-char remark

   Show marketing remark (824 chars)

   This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

10. 2026-01-30
    listed $150,000 Active 824-char remark

    Show marketing remark (824 chars)

    This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

11. 2026-01-30
    listed $150,000 Active

    Show marketing remark (824 chars)

    This 4 bedroom/1 bath home sits on 1.2 acres, has lots of potential and is just waiting for your vision! Extra-large eat-in kitchen with plenty of counter/cupboard space, decent size living room and 2 bedrooms on the main floor. Two additional bedrooms on the second level. The bathroom has a tub, sink and toilet and there is a shower in the laundry room across the hall. The one car garage is attached by a breezeway and there is an additional 2 car shed/garage on the property. There is another open shed as the sellers had cattle at one time. Part of the property sits in a flood plain but the home is high enough on the hill that it is not affected by this. Home does need some TLC but come take a look and create your own rural paradise! If you're looking for a small place to finally have that hobby farm, this is it!

ⓘ 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: $1,524 · $127/mo
• Projected year-2 tax: $1,822 · $152/mo
• Expected delta: +$298/yr (+$25/mo · 19.5%)

ⓘ 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: $14,103
• − Mortgage interest: −$7,562
• − Property taxes: −$1,524
• − Insurance: −$675
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$3,927
• Taxable loss: −$1,841
• Est. tax savings @ 24.0%: +$442
• After-tax cash flow: $889/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: Collins-Maxwell Community School District
• NCES district ID: 1907900
• Math proficiency: 62% ▲ 2.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $61,249
• Composite: 56.69/100
• National rank: #1131
• State rank: #179 of 289 in IA

Livability — Maxwell

• Score: 76/100
• State rank: #203
• US rank: #3711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,081

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.97%
• Current HPI: 314.9589
• 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

-10.0% since first listed

10 events — show timeline

• 2026-04-19 Pending — CIBOR
• 2026-04-19 Pending — DMMLS
• 2026-04-13 Price Changed $135,000 CIBOR
• 2026-04-13 Price Changed $135,000 DMMLS
• 2026-03-16 Relisted — DMMLS
• 2026-03-16 Relisted — CIBOR
• 2026-02-02 Listing Removed — DMMLS
• 2026-01-31 Delisted — CIBOR
• 2026-01-30 Listed $150,000 DMMLS
• 2026-01-30 Listed $150,000 CIBOR

Property tax history

+3.1%/yr

Latest (2025): $1,524 · +2.1% YoY. Source: county tax records.