1007 12th St · Grundy Center, IA 50638

$167,500

3 bd · 2.5 ba · 1,490 sqft · Townhouse public records · 8 Days on market

Built 1963 10,050 sqft lot $112/sqft · 21% below area Est $213k · 21% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.0/30.0
• Schools +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in this rural ranch home. Main floor has two bedroom and a formal dining room ( could be switched back to third bedroom) as well as a partially finished basement with family room, non- conforming third bedroom, half bath, and potential kitchenette area. Rear deck, mature yard, garage. Offered AS-IS thru hudhomestore.com case # 161-221824. No investors for 15 days. All information deemed reliable but not guaranteed.

Key facts

• Refreshed bathroom
• Updated flooring
• Deck and patio area

Tags

• FINISHED LOWER LEVEL
• UPDATED FLOORING
• REFRESHED BATHROOM
• UPDATED ALUMINUM SIDING
• DECK AND PATIO AREA
• OVERSIZED DETACHED GARAGE

Property features AI

Exterior

• Parking: Has carport (1 space); Detached oversized garage with garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential townhouse; Below-grade finished area included
• Construction: Aluminum siding; Shingle (asphalt) roof; Concrete basement
• Exterior features: Deck; Patio; Concrete road surface

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Microwave; Disposal
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heat
• Interior features: Dishwasher; Disposal; Free-standing range; Refrigerator; Microwave; Gas water heater; Smoke detector(s); Basement with concrete finish and sump pump
• Laundry & utility: Washer; Dryer; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $168k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (26.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (33.8% below list).
• Recommended offer: $111k (33.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#68 in IA, #1,503 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Grundy Center Community School District (rural): math 80% / reading 85% proficiency, ranked #17 of 289 in IA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Grundy Center Elementary School (math 82% / reading 77%, grade A, #71 of 616 statewide, top 15%, 277 students, 34% FRL); Grundy Center Middle School (math 80% / reading 87%, grade A+, #11 of 246 statewide, top 4%, 212 students, 21% FRL); Grundy Center High School (math 77% / reading 87%, grade A, #20 of 336 statewide, top 7%, 235 students, 28% FRL).
• Market conditions: 35 active listings in the ZIP; 14 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $102k; list at $168k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $110,906 (33.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1963 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.66% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.32%
• DSCR: 0.72
• GRM: 12.6

CMA / ARV

• ARV (median comp): $212,670
• List price: $167,500
• Delta: -21.24%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 M Ave	0.38mi	2/2.0 (-1)	1,444 (-3%)	20mo	$178,000	$123	54

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: -27.2%
• Equity multiple: 0.09×
• Total profit: $-42,890
• Equity at exit: $24,975

10-year hold

• IRR: -25.2%
• Equity multiple: -0.23×
• Total profit: $-57,638
• Equity at exit: $14,482

Cash invested: $46,900 (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 50638

• Home prices YoY: -11.7%
• Active inventory: 35
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$878
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-247

Break-even live

Break-even rent $1,422

Max offer price $123,833

Occupancy floor —

Sensitivity live

Price	-10% $-152	-5% $-200	+0% $-247	+5% $-295	+10% $-342
Rent	-10% $-335	-5% $-291	+0% $-247	+5% $-203	+10% $-160
Rate	-1.0pp $-163	-0.5pp $-205	base $-247	+0.5pp $-291	+1.0pp $-335

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-19
   status Pending 1302-char remark
2. 2026-05-10
   price $167,500 1302-char remark
3. 2026-05-09
   listed $167,000 Active 1302-char remark
4. 2021-12-01
   soldstatus $102,000 437-char remark

   Show marketing remark (437 chars)

   Great opportunity in this rural ranch home. Main floor has two bedroom and a formal dining room ( could be switched back to third bedroom) as well as a partially finished basement with family room, non- conforming third bedroom, half bath, and potential kitchenette area. Rear deck, mature yard, garage. Offered AS-IS thru hudhomestore.com case # 161-221824. No investors for 15 days. All information deemed reliable but not guaranteed.

5. 2021-09-17
   listed $102,500 437-char remark

   Show marketing remark (437 chars)

   Great opportunity in this rural ranch home. Main floor has two bedroom and a formal dining room ( could be switched back to third bedroom) as well as a partially finished basement with family room, non- conforming third bedroom, half bath, and potential kitchenette area. Rear deck, mature yard, garage. Offered AS-IS thru hudhomestore.com case # 161-221824. No investors for 15 days. All information deemed reliable but not guaranteed.

6. 2006-09-05
   soldstatus $88,000

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,366 · $197/mo
• Expected delta: +$264/yr (+$22/mo · 12.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 16 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: $13,309
• − Mortgage interest: −$9,383
• − Property taxes: −$2,102
• − Insurance: −$838
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$4,873
• Taxable loss: −$6,016
• Est. tax savings @ 24.0%: +$1,444
• After-tax cash flow: $-1,523/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: Grundy Center Community School District
• NCES district ID: 1913290
• Math proficiency: 80% ▼ -2.00%
• Reading proficiency: 85% ▬ 0.00%
• Median HH income: $54,056
• Composite: 70.11/100
• National rank: #275
• State rank: #17 of 289 in IA

Livability — Grundy Center

• Score: 81/100
• State rank: #68
• US rank: #1503

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grundy Center, IA
• Population (ZIP): 3,474

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 12,452 · +0.0%
• By 2040: 12,437 · -0.1%
• By 2050: 12,370 · -0.7%
• By 2075: 12,495 · +0.3%
• By 2100: 11,823 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Iranian 5% Portuguese 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Grundy

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -16.9pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+37.4 2016: R+39.5 2012: R+23.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.09%
• Current HPI: 227.7523
• 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

+90.3% since first listed

6 events — show timeline

• 2026-05-19 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-10 Price Changed $167,500 NEIRBR as distributed by MLS GRID
• 2026-05-09 Listed $167,000 NEIRBR as distributed by MLS GRID
• 2021-12-01 Sold (MLS) $102,000 NEIRBR as distributed by MLS GRID
• 2021-09-17 Listed $102,500 NEIRBR as distributed by MLS GRID
• 2006-09-05 Sold (Public Records) $88,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,102 · -1.1% YoY. Source: county tax records.