500 N Cedar St · Creston, IA 50801

$87,500

3 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 65 Days on market

Built 1888 8,276 sqft lot $62/sqft · 35% below area Est $135k · 35% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy home with privacy fenced, shaded back yard. Large shed in back yard could be converted to a garage. Front door on Summit St. goes into the dining room (currently used as living room). There is a big coat closet. Large living room with French doors from the dining room is currently used as 4th bedroom. Full bathroom with large linen closet. Large kitchen with laundry hookups. Washer/dryer belong to the tenant. Back door in kitchen goes to enclosed back yard with concrete patio approximately 19 x 26. Good rental $1145 per month since April 2022.

Key facts

• Shaded back yard
• French doors
• Dining room

Tags

• PRIVACY FENCED
• SHADED BACK YARD
• LARGE SHED
• DINING ROOM
• BIG COAT CLOSET
• FRENCH DOORS

🏷️ Possibly a rental listed for sale. The $87,500 price doesn't fit this home's estimated sale value (~$135,461) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.6% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 78 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $12k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,250 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1888 — 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 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?
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: 1.43% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.89%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

• ARV (median comp): $135,461
• List price: $87,500
• Delta: -35.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 N Chestnut St	0.05mi	2/1.0 (-1)	1,227 (-13%)	1mo	$85,000	$69	70
410 N Pine St	0.52mi	3/1.0	1,460 (+3%)	4mo	$73,000	$50	67
500 N Elm St	0.64mi	3/1.5	1,440 (+2%)	2mo	$141,000	$98	64
702 N Cherry St	0.36mi	3/1.0	1,252 (-12%)	4mo	$19,500	$16	61
313 N Walnut St	0.44mi	2/1.0 (-1)	1,366 (-4%)	11mo	$18,000	$13	60
213 N Oak St	0.70mi	3/1.5	1,402 (-1%)	6mo	$116,000	$83	58
305 N Walnut St	0.45mi	3/1.0	1,256 (-11%)	10mo	$172,500	$137	52
312 N Oak St	0.71mi	3/1.0	1,320 (-7%)	6mo	$67,000	$51	50
409 N Pine St N	0.49mi	3/2.0	1,605 (+13%)	7mo	$25,000	$16	45
402 E Buckeye St	0.58mi	3/2.0	1,224 (-14%)	9mo	$220,000	$180	39
1216 N Birch St	0.71mi	3/2.0	1,592 (+12%)	8mo	$269,000	$169	36
502 S Mulberry St	0.70mi	3/2.0	1,232 (-13%)	7mo	$133,500	$108	36

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $7,824
• Equity at exit: $13,047

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $35,263
• Equity at exit: $7,565

Cash invested: $24,500 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 78
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$459
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $345

Break-even live

Break-even rent $814

Max offer price $87,500

Occupancy floor 67%

Sensitivity live

Price	-10% $394	-5% $370	+0% $345	+5% $320	+10% $295
Rent	-10% $246	-5% $295	+0% $345	+5% $394	+10% $444
Rate	-1.0pp $389	-0.5pp $367	base $345	+0.5pp $322	+1.0pp $299

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $87,500 Active 65 DOM
2. 2026-06-18
   days on market $87,500 Active 63 DOM
3. 2026-06-17
   days on market $87,500 Active 62 DOM
4. 2026-06-16
   days on market $87,500 Active 61 DOM
5. 2026-06-15
   days on market $87,500 Active 60 DOM
6. 2026-06-13
   days on market $87,500 Active 58 DOM
7. 2026-06-12
   days on market $87,500 Active 57 DOM
8. 2026-06-09
   days on market $87,500 Active 54 DOM
9. 2026-06-09
   price $87,500 Active 53 DOM
10. 2026-06-08
    days on market $99,000 Active 53 DOM
11. 2026-06-07
    days on market $99,000 Active 52 DOM
12. 2026-06-07
    days on market $99,000 Active 51 DOM
13. 2026-06-04
    days on market $99,000 Active 48 DOM
14. 2026-06-02
    days on market $99,000 Active 47 DOM
15. 2026-06-01
    days on market $99,000 Active 46 DOM
16. 2026-05-31
    days on market $99,000 Active 45 DOM
17. 2026-05-31
    days on market $99,000 Active 44 DOM
18. 2026-04-16
    listed $99,000 Active 555-char remark

    Show marketing remark (555 chars)

    Cozy home with privacy fenced, shaded back yard. Large shed in back yard could be converted to a garage. Front door on Summit St. goes into the dining room (currently used as living room). There is a big coat closet. Large living room with French doors from the dining room is currently used as 4th bedroom. Full bathroom with large linen closet. Large kitchen with laundry hookups. Washer/dryer belong to the tenant. Back door in kitchen goes to enclosed back yard with concrete patio approximately 19 x 26. Good rental $1145 per month since April 2022.

19. 2021-08-17
    soldstatus $86,500 502-char remark

    Show marketing remark (502 chars)

    This 3 bedroom ranch style home is located on a large ‘fenced in' corner lot - and includes a swing set! Kitchen has been updated with newer cabinets and appliances are included, large Dining area with extra space for seating adjacent to Living room. Back yard has patio/barbecue area, large storage shed, garden and fenced in yard has entrance gate in front and a back gate exiting into alley. Perfect parking for recreational vehicles! This little jewel is perfect for any family!!

20. 2021-08-17
    soldstatus $86,500

    Show marketing remark (502 chars)

    This 3 bedroom ranch style home is located on a large ‘fenced in' corner lot - and includes a swing set! Kitchen has been updated with newer cabinets and appliances are included, large Dining area with extra space for seating adjacent to Living room. Back yard has patio/barbecue area, large storage shed, garden and fenced in yard has entrance gate in front and a back gate exiting into alley. Perfect parking for recreational vehicles! This little jewel is perfect for any family!!

21. 2021-07-06
    listed $86,500 502-char remark

    Show marketing remark (502 chars)

    This 3 bedroom ranch style home is located on a large ‘fenced in' corner lot - and includes a swing set! Kitchen has been updated with newer cabinets and appliances are included, large Dining area with extra space for seating adjacent to Living room. Back yard has patio/barbecue area, large storage shed, garden and fenced in yard has entrance gate in front and a back gate exiting into alley. Perfect parking for recreational vehicles! This little jewel is perfect for any family!!

22. 2011-06-13
    soldstatus $60,000

ⓘ 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: $1,771 · $148/mo
• Projected year-2 tax: $1,771 · $148/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,003
• − Mortgage interest: −$4,901
• − Property taxes: −$1,771
• − Insurance: −$438
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,545
• Taxable income: $2,947
• Est. tax owed @ 24.0%: −$707
• After-tax cash flow: $3,430/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

+65.0% since first listed

5 events — show timeline

• 2026-04-16 Listed $99,000 IAR
• 2021-08-17 Sold (Public Records) $86,500 Public Records
• 2021-08-17 Sold (MLS) $86,500 IAR
• 2021-07-06 Listed $86,500 IAR
• 2011-06-13 Sold (Public Records) $60,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,771 · -13.9% YoY. Source: county tax records.