306 S Montgomery Street St · Griswold, IA 51535

$34,000

3 bd · 1.0 ba · 1,894 sqft · SingleFamily public records · 36 Days on market

Built 1909 5,000 sqft lot ↓ 42% since listing

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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 +6.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of space to stretch out, relax, and enjoy! The main floor includes a large living room, dining room, den, master bedroom, and laundry. This home also features vinyl siding for low maintenance, a hi efficiency furnace for low utilities, and storage galore! Call Norma for your personal tour today! [phone]

Key facts

• 5,000 sq ft lot
• Garage
• Built 1909

Property features AI

Exterior

• Parking: Off-street parking; 1-car garage
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; Residential property; 2 stories; Frame construction
• Construction: Frame construction; Composition roof
• Exterior features: Corner lot; Waterfront; Concrete road access; Sidewalks

Interior

• Flooring: Wood
• Heating & cooling: Central air; Natural gas heating; Forced air heating
• Interior features: Wood flooring; Partial, unfinished basement; 10 total rooms; Main-level laundry
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $33k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#415 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Griswold Community School District (rural): math 74% / reading 80% proficiency, ranked #54 of 289 in IA (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Griswold Elementary (math 77% / reading 72%, grade A, #131 of 616 statewide, top 27%, 231 students, 46% FRL); Griswold Middle/High School (math 72% / reading 83%, grade A-, #56 of 336 statewide, top 17%, 200 students, 31% FRL).
• Market conditions: 12 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 $235 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,980 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.25% ✓
• Cap rate: 26.75%
• Cash-on-cash: 73.07%
• DSCR: 4.25
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $159,096
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 6th St	0.29mi	3/3.0	1,892 (-0%)	2mo	$159,000	$84	77
511 2nd St	0.12mi	4/2.0 (+1)	1,920 (+1%)	15mo	$149,500	$78	70
805 4th St	0.17mi	3/2.0	2,126 (+12%)	2mo	$240,000	$113	66
611 1st St	0.19mi	2/2.0 (-1)	1,870 (-1%)	22mo	$110,000	$59	62
307 6th St	0.23mi	2/1.0 (-1)	1,782 (-6%)	21mo	$112,000	$63	57
307 Main ST St	0.21mi	4/3.0 (+1)	2,065 (+9%)	21mo	$274,000	$133	45

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: 72.9%
• Equity multiple: 4.30×
• Total profit: $31,463
• Equity at exit: $5,070

10-year hold

• IRR: 76.7%
• Equity multiple: 8.89×
• Total profit: $75,151
• Equity at exit: $2,940

Cash invested: $9,520 (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 51535

• Home prices YoY: -21.9%
• Active inventory: 12
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$178
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $580

Break-even live

Break-even rent $372

Max offer price $34,000

Occupancy floor 43%

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-29
   status Pending
2. 2026-03-30
   status Active
3. 2026-03-19
   listed $34,000 Active
4. 2014-01-28
   soldstatus $52,000
5. 2014-01-24
   soldstatus $52,000 315-char remark

   Show marketing remark (315 chars)

   Lots of space to stretch out, relax, and enjoy! The main floor includes a large living room, dining room, den, master bedroom, and laundry. This home also features vinyl siding for low maintenance, a hi efficiency furnace for low utilities, and storage galore! Call Norma for your personal tour today! [phone]

6. 2013-10-25
   listed $55,000 315-char remark

   Show marketing remark (315 chars)

   Lots of space to stretch out, relax, and enjoy! The main floor includes a large living room, dining room, den, master bedroom, and laundry. This home also features vinyl siding for low maintenance, a hi efficiency furnace for low utilities, and storage galore! Call Norma for your personal tour today! [phone]

7. 2010-09-02
   soldstatus $50,000 221-char remark

   Show marketing remark (221 chars)

   Solid Home with Lots of Living Space. New Energy Efficiant Furnace in 2009! Close to Downtown, Bank, and Grocery Store. Nice Woodwork, Pocket Doors, Stained Glass Windows, Beautiful Entry Doors. Call Diane at 712-789-0580

8. 2010-09-02
   soldstatus $50,000

   Show marketing remark (221 chars)

   Solid Home with Lots of Living Space. New Energy Efficiant Furnace in 2009! Close to Downtown, Bank, and Grocery Store. Nice Woodwork, Pocket Doors, Stained Glass Windows, Beautiful Entry Doors. Call Diane at 712-789-0580

9. 2009-09-23
   listed $58,500 221-char remark

   Show marketing remark (221 chars)

   Solid Home with Lots of Living Space. New Energy Efficiant Furnace in 2009! Close to Downtown, Bank, and Grocery Store. Nice Woodwork, Pocket Doors, Stained Glass Windows, Beautiful Entry Doors. Call Diane at 712-789-0580

ⓘ 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: $1,218 · $102/mo
• Projected year-2 tax: $1,218 · $102/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,270
• − Mortgage interest: −$1,905
• − Property taxes: −$1,218
• − Insurance: −$170
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$989
• Taxable income: $6,865
• Est. tax owed @ 24.0%: −$1,648
• After-tax cash flow: $5,308/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: Griswold Community School District
• NCES district ID: 1913230
• Math proficiency: 74% ▲ 1.00%
• Reading proficiency: 80% ▼ -1.00%
• Median HH income: $48,914
• Composite: 65.05/100
• National rank: #500
• State rank: #54 of 289 in IA

Livability — Griswold

• Score: 69/100
• State rank: #415
• US rank: #8893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griswold, IA
• Population (ZIP): 1,768

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% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 6% Portuguese 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -53.52%
• Current HPI: 191.0951
• 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

-41.9% since first listed

9 events — show timeline

• 2026-04-29 Pending — SWIAR
• 2026-03-30 Relisted — SWIAR
• 2026-03-19 Listed $34,000 SWIAR
• 2014-01-28 Sold (Public Records) $52,000 Public Records
• 2014-01-24 Sold (MLS) $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-25 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-02 Sold (Public Records) $50,000 Public Records
• 2010-09-02 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-23 Listed $58,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $1,218 · +2.4% YoY. Source: county tax records.