300 Elm St · Atlantic, IA 50022

$88,000

3 bd · 1.0 ba · 1,887 sqft · SingleFamily public records · 178 Days on market

Built 1890 $47/sqft · 39% below area Est $91k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 1% rule +8.2/10.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 bathroom home with detached garage. This property is available through auction. This is a Fannie Mae HomePath property. First-time buyers, complete the HomePath Ready Buyer homeownership course on Homepath website. Attach certificate to offer up to 3% closing cost assistance. Check HomePath website for more details. Restrictions apply.

Key facts

• 2 garage spots
• Built 1890
• Listed 177 days

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 $368 ($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: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.0% in Atlantic — 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 74/100 on livability (#243 in IA, #4,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, amenities F, commute F.
• Atlantic Community School District (town): math 68% / reading 72% proficiency, ranked #155 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 49 active listings in the ZIP; 14 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $77,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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 1890 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.32% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.93%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

• ARV (median comp): $91,266
• List price: $88,000
• Delta: -3.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Elm St	0.14mi	3/1.0	1,868 (-1%)	4mo	$98,000	$52	88
1006 Locust St	0.59mi	3/1.0	1,904 (+1%)	3mo	$60,000	$32	69
505 Maple St	0.16mi	4/2.0 (+1)	2,156 (+14%)	3mo	$168,000	$78	57
606 W 6th St	0.65mi	3/2.0	1,936 (+3%)	6mo	$50,000	$26	57
408 W 4th St	0.49mi	3/1.0	1,947 (+3%)	18mo	$38,500	$20	57
900 Chestnut St	0.44mi	3/2.0	2,037 (+8%)	10mo	$157,000	$77	54
102 E 12th St	0.60mi	3/1.5	1,802 (-4%)	11mo	$194,500	$108	53
107 E 13 St	0.69mi	3/2.0	1,827 (-3%)	9mo	$186,000	$102	51
601 E 6th St	0.36mi	2/1.5 (-1)	1,660 (-12%)	7mo	$162,500	$98	51
110 E 12th St	0.60mi	2/2.0 (-1)	1,689 (-10%)	12mo	$77,500	$46	36
704 Linn St	0.33mi	4/3.0 (+1)	2,156 (+14%)	19mo	$162,000	$75	32
1105 Locust St	0.66mi	3/1.0	1,621 (-14%)	17mo	$126,000	$78	31

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $9,171
• Equity at exit: $13,121

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $38,101
• Equity at exit: $7,609

Cash invested: $24,640 (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 50022

• Home prices YoY: -28.8%
• Active inventory: 49
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$48 /mo · $578/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $368

Break-even live

Break-even rent $692

Max offer price $88,000

Occupancy floor 63%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-08
   days on market $88,000 Active 178 DOM
2. 2026-06-07
   days on market $88,000 Active 177 DOM
3. 2026-06-07
   days on market $88,000 Active 176 DOM
4. 2026-06-04
   days on market $88,000 Active 173 DOM
5. 2026-06-02
   days on market $88,000 Active 172 DOM
6. 2026-06-01
   days on market $88,000 Active 171 DOM
7. 2026-05-31
   days on market $88,000 Active 170 DOM
8. 2026-05-31
   days on market $88,000 Active 169 DOM
9. 2025-12-12
   listed $88,000 Active 350-char remark

   Show marketing remark (350 chars)

   3 bedroom, 1 bathroom home with detached garage. This property is available through auction. This is a Fannie Mae HomePath property. First-time buyers, complete the HomePath Ready Buyer homeownership course on Homepath website. Attach certificate to offer up to 3% closing cost assistance. Check HomePath website for more details. Restrictions apply.

ⓘ 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: $578 · $48/mo
• Projected year-2 tax: $980 · $82/mo
• Expected delta: +$402/yr (+$33/mo · 69.5%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $13,892
• − Mortgage interest: −$4,929
• − Property taxes: −$578
• − Insurance: −$440
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,560
• Taxable income: $3,162
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,660/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: Atlantic Community School District
• NCES district ID: 1903930
• Math proficiency: 68% ▬ 0.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $41,877
• Composite: 58.58/100
• National rank: #987
• State rank: #155 of 289 in IA

Livability — Atlantic

• Score: 74/100
• State rank: #243
• US rank: #4704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic, IA
• City population: 8,472
• Population (ZIP): 8,472

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -65.62%
• Current HPI: 162.2127
• 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

• 2025-12-12 Listed $88,000 DMMLS

Property tax history

-0.5%/yr

Latest (2025): $578 · -0.3% YoY. Source: county tax records.