108 W Filmore St · Afton, IA 50830

$45,000

4 bd · 1.5 ba · 2,106 sqft · SingleFamily public records · 314 Days on market

Built 1908 7,405 sqft lot $21/sqft · 71% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Haven't you been curious about this home? Now is your chance to view and make it yours. 4 large bedrooms, 2 baths. Laundry in main floor bath. Wood floors upstairs I believe to be red oak I think could be refinished. Fireplace has been boarded up. Sunroom/sleeping room upstairs. Some craftsman style built-in cabinets and closets. Some older wiring. Breaker box. Good basement. Roof on main part of house is new in last 5 years except awnings and porches. Needs new windows. Stucco is in good condition. Off street parking behind house with alley access. 24 hr. notice to show. Close to uptown Afton square with restaurants and activities in the park.

Key facts

• Off street parking
• Wood floors
• New roof

Tags

• WOOD FLOORS
• FIREPLACE
• NEW ROOF
• OFF STREET PARKING
• STUCCO IN GOOD CONDITION
• CLOSE TO UPTOWN AFTON SQUARE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#494 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• East Union Community School District (rural): math 65% / reading 67% proficiency, ranked #187 of 289 in IA (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 314 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $45k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 314 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 1908 — 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: 2.76% ✓
• Cap rate: 24.04%
• Cash-on-cash: 63.37%
• DSCR: 3.82
• GRM: 3.0

CMA / ARV

• ARV (median comp): $154,773
• List price: $45,000
• Delta: -70.93%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 W Kansas St	0.18mi	3/1.5 (-1)	1,792 (-15%)	23mo	$103,000	$57	42

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: 68.2%
• Equity multiple: 4.80×
• Total profit: $47,822
• Equity at exit: $20,234

10-year hold

• IRR: 67.7%
• Equity multiple: 9.80×
• Total profit: $110,884
• Equity at exit: $31,183

Cash invested: $12,600 (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 50830

• Active inventory: 7
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,241 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$60 /mo · $726/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $665

Break-even live

Break-even rent $399

Max offer price $45,000

Occupancy floor 41%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $45,000 Active 314 DOM
2. 2026-06-17
   days on market $45,000 Active 313 DOM
3. 2026-06-16
   days on market $45,000 Active 312 DOM
4. 2026-06-15
   days on market $45,000 Active 311 DOM
5. 2026-06-13
   days on market $45,000 Active 309 DOM
6. 2026-06-12
   days on market $45,000 Active 308 DOM
7. 2026-06-09
   days on market $45,000 Active 305 DOM
8. 2026-06-08
   days on market $45,000 Active 304 DOM
9. 2026-06-07
   days on market $45,000 Active 303 DOM
10. 2026-06-05
    days on market $45,000 Active 301 DOM
11. 2026-06-04
    days on market $45,000 Active 299 DOM
12. 2026-06-02
    days on market $45,000 Active 298 DOM
13. 2026-06-01
    days on market $45,000 Active 297 DOM
14. 2026-05-31
    days on market $45,000 Active 296 DOM
15. 2026-05-31
    days on market $45,000 Active 295 DOM
16. 2026-05-02
    price $45,000 654-char remark

    Show marketing remark (654 chars)

    Haven't you been curious about this home? Now is your chance to view and make it yours. 4 large bedrooms, 2 baths. Laundry in main floor bath. Wood floors upstairs I believe to be red oak I think could be refinished. Fireplace has been boarded up. Sunroom/sleeping room upstairs. Some craftsman style built-in cabinets and closets. Some older wiring. Breaker box. Good basement. Roof on main part of house is new in last 5 years except awnings and porches. Needs new windows. Stucco is in good condition. Off street parking behind house with alley access. 24 hr. notice to show. Close to uptown Afton square with restaurants and activities in the park.

17. 2025-08-07
    listed $50,000 Active 654-char remark

    Show marketing remark (654 chars)

    Haven't you been curious about this home? Now is your chance to view and make it yours. 4 large bedrooms, 2 baths. Laundry in main floor bath. Wood floors upstairs I believe to be red oak I think could be refinished. Fireplace has been boarded up. Sunroom/sleeping room upstairs. Some craftsman style built-in cabinets and closets. Some older wiring. Breaker box. Good basement. Roof on main part of house is new in last 5 years except awnings and porches. Needs new windows. Stucco is in good condition. Off street parking behind house with alley access. 24 hr. notice to show. Close to uptown Afton square with restaurants and activities in the park.

18. 2020-12-28
    soldstatus $16,500
19. 2020-12-17
    soldstatus $16,500

ⓘ 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: $726 · $60/mo
• Projected year-2 tax: $726 · $60/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 5/10 Major
• 🌡 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: $14,896
• − Mortgage interest: −$2,521
• − Property taxes: −$726
• − Insurance: −$225
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$1,309
• Taxable income: $7,732
• Est. tax owed @ 24.0%: −$1,856
• After-tax cash flow: $6,129/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: East Union Community School District
• NCES district ID: 1910350
• Math proficiency: 65% ▼ -4.00%
• Reading proficiency: 67% ▼ -2.00%
• Median HH income: $48,781
• Composite: 55.94/100
• National rank: #1199
• State rank: #187 of 289 in IA

Livability — Afton

• Score: 67/100
• State rank: #494
• US rank: #10999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Afton, IA
• City population: 1,934
• Population (ZIP): 1,934

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · German/W. Germanic 7% Spanish 2%

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: —
• Current HPI: —
• 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

+172.7% since first listed

4 events — show timeline

• 2026-05-02 Price Changed $45,000 IAR
• 2025-08-07 Listed $50,000 IAR
• 2020-12-28 Sold (Public Records) $16,500 Public Records
• 2020-12-17 Sold (Public Records) $16,500 Public Records

Property tax history

-2.8%/yr

Latest (2025): $726 · -5.7% YoY. Source: county tax records.