208 N Cherry St · Creston, IA 50801

$55,500

2 bd · 1.0 ba · 989 sqft · SingleFamily public records · 78 Days on market

Built 1878 3,600 ac lot Est $83k · 33% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great investment or starter home! Three bedrooms, one bath. New floors, new bathroom and new paint. Washer/dryer, kitchen stove and refrigerator included. Carport and rear storage shed included. Call for your showing!

Key facts

• 3600 acre lot
• Garage
• Built 1878

Property features AI

Exterior

• Parking: One garage space; Carport; Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot approximately 30 x 120 (3,600 sq ft)

Interior

• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Basement present; One and one-half level layout

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $56k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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.
• Zoned schools: Creston Elementary School (math 60% / reading 49%, grade C, #462 of 616 statewide, top 79%, 410 students, 55% FRL); Creston Middle School (math 65% / reading 74%, grade A, #113 of 246 statewide, top 49%, 291 students, 60% FRL); Creston High School (math 63% / reading 78%, grade B+, #140 of 336 statewide, top 43%, 532 students, 46% FRL).
• 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 $384 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $30k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $56k implies a 640% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,170 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1878 — 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: 1.74% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.51%
• DSCR: 2.22
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $83,076
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 N Cherry St	0.00mi	3/1.0 (+1)	989 (0%)	0mo	$50,000	$51	95
303 W Mills St	0.40mi	2/1.0	997 (+1%)	1mo	$60,000	$60	79
304 N Birch St	0.13mi	2/1.0	880 (-11%)	2mo	$20,000	$23	74
309 N Birch St	0.13mi	2/1.0	1,088 (+10%)	6mo	$79,000	$73	72
605 N Cedar St	0.44mi	2/2.0	960 (-3%)	1mo	$163,000	$170	70
606 N Elm St	0.49mi	3/1.0 (+1)	1,004 (+2%)	1mo	$115,000	$115	69
505 N Walnut St	0.28mi	3/1.5 (+1)	1,040 (+5%)	4mo	$96,000	$92	68
619 N Walnut St	0.43mi	3/1.0 (+1)	1,036 (+5%)	4mo	$87,500	$84	64
907 N Walnut St	0.59mi	2/2.0	988 (-0%)	7mo	$95,000	$96	63
500 Levy St	0.58mi	3/1.0 (+1)	960 (-3%)	4mo	$78,000	$81	60
707 N Birch St	0.47mi	3/1.0 (+1)	1,064 (+8%)	3mo	$133,000	$125	58
408 S Elm St	0.58mi	2/1.0	852 (-14%)	2mo	$68,000	$80	48

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: 21.6%
• Equity multiple: 1.88×
• Total profit: $13,728
• Equity at exit: $8,275

10-year hold

• IRR: 29.7%
• Equity multiple: 3.66×
• Total profit: $41,294
• Equity at exit: $4,799

Cash invested: $15,540 (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: 4.8×

Monthly cashflow live

• Estimated rent: $968 medium
• Mortgage (P&I): −$291
• Tax from tax record: −$94 /mo · $1,132/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $356

Break-even live

Break-even rent $517

Max offer price $55,500

Occupancy floor 58%

Sensitivity live

Price	-10% $388	-5% $372	+0% $356	+5% $341	+10% $325
Rent	-10% $280	-5% $318	+0% $356	+5% $395	+10% $433
Rate	-1.0pp $384	-0.5pp $370	base $356	+0.5pp $342	+1.0pp $327

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: $13,875
• Closing costs: $1,665
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-30
   status Pending
2. 2026-04-27
   price $55,500
3. 2026-04-27
   price $55,000
4. 2026-03-30
   price $69,000
5. 2026-03-03
   price $77,000
6. 2026-02-11
   listed $85,000 Active
7. 2025-02-03
   price $84,900
8. 2025-01-31
   status Active
9. 2024-12-23
   status Pending
10. 2024-12-09
    historical Active Under Contract
11. 2024-11-18
    price $89,000
12. 2024-11-01
    listed $99,000 Active
13. 2020-08-03
    soldstatus $7,500
14. 2016-07-27
    soldstatus $20,000
15. 2016-07-22
    soldstatus $20,000 217-char remark

    Show marketing remark (217 chars)

    Great investment or starter home! Three bedrooms, one bath. New floors, new bathroom and new paint. Washer/dryer, kitchen stove and refrigerator included. Carport and rear storage shed included. Call for your showing!

16. 2016-06-23
    listed $26,000 217-char remark

    Show marketing remark (217 chars)

    Great investment or starter home! Three bedrooms, one bath. New floors, new bathroom and new paint. Washer/dryer, kitchen stove and refrigerator included. Carport and rear storage shed included. Call for your showing!

ⓘ 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: $1,132 · $94/mo
• Projected year-2 tax: $1,132 · $94/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 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $11,617
• − Mortgage interest: −$3,109
• − Property taxes: −$1,132
• − Insurance: −$278
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$1,615
• Taxable income: $3,625
• Est. tax owed @ 24.0%: −$870
• After-tax cash flow: $3,405/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

+113.5% since first listed

16 events — show timeline

• 2026-04-30 Pending — IAR
• 2026-04-27 Price Changed $55,500 IAR
• 2026-04-27 Price Changed $55,000 IAR
• 2026-03-30 Price Changed $69,000 IAR
• 2026-03-03 Price Changed $77,000 IAR
• 2026-02-11 Listed $85,000 IAR
• 2025-02-03 Price Changed $84,900 IAR
• 2025-01-31 Relisted — IAR
• 2024-12-23 Pending — IAR
• 2024-12-09 Contingent — IAR
• 2024-11-18 Price Changed $89,000 IAR
• 2024-11-01 Listed $99,000 IAR
• 2020-08-03 Sold (Public Records) $7,500 Public Records
• 2016-07-27 Sold (Public Records) $20,000 Public Records
• 2016-07-22 Sold (MLS) $20,000 IAR
• 2016-06-23 Listed $26,000 IAR

Property tax history

+20.9%/yr

Latest (2025): $1,132 · +78.5% YoY. Source: county tax records.