317 E 15th St N · Newton, IA 50208

$69,900

2 bd · 1.0 ba · 572 sqft · SingleFamily public records · 198 Days on market

Built 1920 5,550 sqft lot $122/sqft · 49% below area Est $137k · 49% 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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.6/10.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for that first home comes at an affordable price! 2 bedrooms, 1 bath dining area and full basement! 1 car detached garage on a quiet street. Investors!! This would be a great income property! Set up your showing today! Home has current rental certificate with the City of Newton

Key facts

• 5,550 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($808 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 198 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
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: 1.16% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.44%
• DSCR: 1.38
• GRM: 7.2

CMA / ARV

• ARV (median comp): $136,549
• List price: $69,900
• Delta: -48.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 E 13th St N	0.18mi	1/1.0 (-1)	540 (-6%)	21mo	$65,000	$120	60
400 E 10th St S	0.54mi	2/1.0	520 (-9%)	1mo	$125,000	$240	59
213 E 14th St N	0.14mi	2/1.0	631 (+10%)	21mo	$138,500	$219	59
1101 E 12th St N	0.62mi	2/1.0	624 (+9%)	21mo	$105,000	$168	39
401 E 10th St S	0.55mi	1/1.0 (-1)	656 (+15%)	20mo	$83,000	$127	28

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-2,537
• Equity at exit: $10,422

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $9,173
• Equity at exit: $6,044

Cash invested: $19,572 (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: 7.2×

Monthly cashflow live

• Estimated rent: $808 high
• Mortgage (P&I): −$367
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $138

Break-even live

Break-even rent $634

Max offer price $69,900

Occupancy floor 78%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1026 E 12th St N Newton, IA	1.0	1.0	590	$625	$1.06	21d	1	0.53mi
726 E 8th St N Newton, IA	1.0	1.0	708	$895	$1.26	14d	1	0.56mi
605 E 7 1/2 St N Newton, IA	2.0	1.0	672	$1,200	$1.79	44d	1	0.57mi
126 E 5th St S Newton, IA	1.0	1.0	550	$599	$1.09	23d	1	0.76mi
427 N 2nd Ave E Newton, IA	1.0	1.0	575	$599	$1.04	44d	1	0.77mi
723 E 6th St S Newton, IA	2.0	1.0	650	$775	$1.19	44d	1	0.91mi
602 E 2nd St S Newton, IA	2.0	1.0	750	$775	$1.03	44d	1	1.07mi
320 W 3rd St N Unit 207 Newton, IA	1.0	1.0	609	$1,050	$1.72	44d	1	1.13mi
1800 W 4th St N Newton, IA	1.0–3.0	1.0–2.0	792	$840	$1.06	14d	7	1.45mi
706 S 2nd Ave W Unit 706 Newton, IA	1.0	1.0	550	$625	$1.14	44d	1	1.45mi

Listing history 21 events

1. 2026-06-18
   days on market $69,900 Active 198 DOM
2. 2026-06-17
   days on market $69,900 Active 197 DOM
3. 2026-06-16
   days on market $69,900 Active 196 DOM
4. 2026-06-15
   days on market $69,900 Active 195 DOM
5. 2026-06-14
   days on market $69,900 Active 193 DOM
6. 2026-06-13
   days on market $69,900 Active 192 DOM
7. 2026-06-10
   days on market $69,900 Active 190 DOM
8. 2026-06-09
   days on market $69,900 Active 189 DOM
9. 2026-06-08
   days on market $69,900 Active 188 DOM
10. 2026-06-07
    days on market $69,900 Active 187 DOM
11. 2026-06-05
    days on market $69,900 Active 184 DOM
12. 2026-06-03
    days on market $69,900 Active 183 DOM
13. 2026-06-02
    days on market $69,900 Active 182 DOM
14. 2026-06-01
    days on market $69,900 Active 181 DOM
15. 2026-05-31
    days on market $69,900 Active 180 DOM
16. 2026-05-31
    days on market $69,900 Active 179 DOM
17. 2026-04-13
    price $69,900 287-char remark

    Show marketing remark (287 chars)

    Looking for that first home comes at an affordable price! 2 bedrooms, 1 bath dining area and full basement! 1 car detached garage on a quiet street. Investors!! This would be a great income property! Set up your showing today! Home has current rental certificate with the City of Newton

18. 2025-12-02
    listed $74,900 Active 287-char remark

    Show marketing remark (287 chars)

    Looking for that first home comes at an affordable price! 2 bedrooms, 1 bath dining area and full basement! 1 car detached garage on a quiet street. Investors!! This would be a great income property! Set up your showing today! Home has current rental certificate with the City of Newton

19. 2023-07-17
    soldstatus $533,500
20. 2017-04-10
    historical
21. 2017-03-20
    listed $49,000

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/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 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: $9,694
• − Mortgage interest: −$3,915
• − Property taxes: −$1,258
• − Insurance: −$350
• − Repairs & maintenance: −$775
• − Management: −$775
• − Depreciation: −$2,033
• Taxable income: $586
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $1,511/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

+42.7% since first listed

5 events — show timeline

• 2026-04-13 Price Changed $69,900 DMMLS
• 2025-12-02 Listed $74,900 DMMLS
• 2023-07-17 Sold (Public Records) $533,500 Public Records
• 2017-04-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-20 Listed $49,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $1,258 · +41.0% YoY. Source: county tax records.