410 Chestnut St · Anita, IA 50020

$98,000

3 bd · 1.0 ba · 870 sqft · SingleFamily public records · 22 Days on market

Built 1900 Est $125k · 22% 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 +20.7/30.0
• ARV discount +15.0/15.0
• Appreciation +7.6/10.0
• DSCR +6.6/10.0
• Schools +5.9/10.0
• 1% rule +4.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

-Two Story Single Family Home -3 Bedroom -1 Bathroom -Remodeled with new siding, new windows, new baseboard electric heat, new bathroom, new water heater, new mini split heating/air -All appliances included -Gas Fireplace (Gas service to the fireplace would need to be reconnected, as it was previously disconnected during remodeling work) -New Carpet in Living Room -Fresh Paint -Large Kitchen -Beautiful Bay Window -Large Front Porch -Main Floor Laundry - 1 Bedroom with Large Walk-in Closet on main floor -2 Bedrooms with Large Closets Upstairs -Brand New 2-car Garage and Utility Shed

Key facts

• New bathroom
• New water heater
• New windows

Tags

• REMODELED WITH NEW SIDING
• NEW WINDOWS
• NEW BASEBOARD ELECTRIC HEAT
• NEW BATHROOM
• NEW WATER HEATER
• NEW MINI SPLIT HEATING AIR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/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 $96k (1.8% below list).
• Recommended offer: $96k (1.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#331 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Cam Community School District (rural): math 67% / reading 72% proficiency, ranked #154 of 289 in IA (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 14 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($678 loan paydown + $5k appreciation (5.1% local appreciation)).
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,208 (1.8% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $125,280
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Cherry St	0.17mi	2/1.0 (-1)	905 (+4%)	18mo	$90,000	$99	65
303 Maple St	0.20mi	2/2.0 (-1)	764 (-12%)	15mo	$110,000	$144	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.15×
• Total profit: $31,625
• Equity at exit: $56,214

10-year hold

• IRR: 18.1%
• Equity multiple: 4.21×
• Total profit: $88,021
• Equity at exit: $97,584

Cash invested: $27,440 (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 50020

• Home prices YoY: 2.7%
• Active inventory: 9
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $132

Break-even live

Break-even rent $795

Max offer price $98,000

Occupancy floor 81%

Sensitivity live

Price	-10% $188	-5% $160	+0% $132	+5% $104	+10% $77
Rent	-10% $56	-5% $94	+0% $132	+5% $170	+10% $208
Rate	-1.0pp $181	-0.5pp $157	base $132	+0.5pp $107	+1.0pp $81

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $98,000 Active 22 DOM
2. 2026-06-21
   days on market $98,000 Active 21 DOM
3. 2026-06-18
   days on market $98,000 Active 19 DOM
4. 2026-06-17
   days on market $98,000 Active 18 DOM
5. 2026-06-16
   days on market $98,000 Active 17 DOM
6. 2026-06-15
   days on market $98,000 Active 16 DOM
7. 2026-06-13
   days on market $98,000 Active 14 DOM
8. 2026-06-12
   days on market $98,000 Active 13 DOM
9. 2026-06-09
   days on market $98,000 Active 10 DOM
10. 2026-06-08
    days on market $98,000 Active 9 DOM
11. 2026-06-07
    days on market $98,000 Active 8 DOM
12. 2026-06-07
    days on market $98,000 Active 7 DOM
13. 2026-06-04
    days on market $98,000 Active 4 DOM
14. 2026-06-02
    days on market $98,000 Active 3 DOM
15. 2026-06-01
    days on market $98,000 Active 2 DOM
16. 2026-05-31
    remarks 588-char remark
17. 2026-05-31
    listed $98,000 Active 1 DOM

ⓘ 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: $878 · $73/mo
• Projected year-2 tax: $1,208 · $101/mo
• Expected delta: +$330/yr (+$28/mo · 37.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $11,545
• − Mortgage interest: −$5,490
• − Property taxes: −$878
• − Insurance: −$490
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$2,851
• Taxable loss: −$11
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $1,588/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: Cam Community School District
• NCES district ID: 1905940
• Math proficiency: 67% ▲ 6.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $46,610
• Composite: 58.61/100
• National rank: #985
• State rank: #154 of 289 in IA

Livability — Anita

• Score: 71/100
• State rank: #331
• US rank: #6759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anita, IA
• Population (ZIP): 1,277

Population outlook (Cass County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 11,911 · -4.3%
• By 2040: 10,904 · -12.4%
• By 2050: 10,005 · -19.7%
• By 2075: 8,030 · -35.5%
• By 2100: 5,865 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Pacific Islander 3% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Italian 2% Slovak 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+40.7) · D 28.9% · R 69.6% · Other 1.5%
• 2008→2024 swing: -29.9pp toward R · 2008: -10.8pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+38.0 2016: R+39.8 2012: R+18.9 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.11%
• Current HPI: 196.2613
• 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

• 2026-05-31 Listed $98,000 FSBO.com

Property tax history

+4.8%/yr

Latest (2025): $878 · -13.9% YoY. Source: county tax records.