604 Sand St · Churdan, IA 50050

$85,000

1 bd · 1.0 ba · 870 sqft · Other public records · 286 Days on market

Built 1920 8,712 sqft lot $98/sqft · 10% below area Est $78k · 9% over ↓ 32% since listing

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Why this score? — see what drove the C 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 +21.9/30.0
• Appreciation +7.9/10.0
• DSCR +7.0/10.0
• Schools +6.4/10.0
• 1% rule +4.8/10.0
• ARV discount +3.4/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

Key facts

• Big backyard
• Main floor laundry
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• MAIN FLOOR LAUNDRY
• BIG BACKYARD
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $84k (1.7% below list).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#564 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: crime C-, amenities F, commute F.
• Paton-Churdan Community School District (rural): math 80% / reading 70% proficiency, ranked #111 of 330 in IA (top 34%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($588 loan paydown + $5k appreciation (5.9% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1920 — 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 A-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: 0.98% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (median comp): $77,956
• List price: $85,000
• Delta: 9.04%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

5.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.36×
• Total profit: $32,308
• Equity at exit: $52,687

10-year hold

• IRR: 19.8%
• Equity multiple: 4.72×
• Total profit: $88,523
• Equity at exit: $94,906

Cash invested: $23,800 (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 50050

• Home prices YoY: 3.2%
• Active inventory: 8
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $836 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $133

Break-even live

Break-even rent $667

Max offer price $85,000

Occupancy floor 79%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $85,000 Active 286 DOM
2. 2026-06-17
   days on market $85,000 Active 285 DOM
3. 2026-06-16
   days on market $85,000 Active 284 DOM
4. 2026-06-15
   days on market $85,000 Active 283 DOM
5. 2026-06-13
   days on market $85,000 Active 281 DOM
6. 2026-06-12
   days on market $85,000 Active 280 DOM
7. 2026-06-09
   days on market $85,000 Active 277 DOM
8. 2026-06-01
   days on market $85,000 Active 276 DOM
9. 2026-05-31
   days on market $85,000 Active 275 DOM
10. 2026-05-31
    days on market $85,000 Active 274 DOM
11. 2026-05-15
    price $85,000 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

12. 2026-03-23
    price $90,000 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

13. 2026-01-14
    price $99,000 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

14. 2025-11-05
    price $111,000 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

15. 2025-09-15
    price $115,000 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

16. 2025-08-29
    listed $125,000 Active 580-char remark

    Show marketing remark (580 chars)

    Welcome to this beautifully updated 1 bedroom, 1 bathroom home that's just waiting for your personal touches. Inside, you'll find an open and efficient layout with fresh finishes making the space feel bright and inviting. The Kitchen and bathroom have been tastefully redone, and convenient main floor laundry adds to everyday ease. Outside, You'll love the big backyard that is a perfect place for relaxing. Tired of paying rent or looking to down size? Call today and make this Move-In ready house yours! Income based qualification programs may be available for this property.

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $941 · $78/mo
• Expected delta: +$393/yr (+$33/mo · 71.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 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: $10,028
• − Mortgage interest: −$4,761
• − Property taxes: −$548
• − Insurance: −$425
• − Repairs & maintenance: −$802
• − Management: −$802
• − Depreciation: −$2,473
• Taxable income: $217
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $1,548/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: Paton-Churdan Community School District
• NCES district ID: 1922380
• Math proficiency: 80% ▼ -5.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $47,486
• Composite: 64.29/100
• National rank: #1162
• State rank: #111 of 330 in IA

Livability — Churdan

• Score: 65/100
• State rank: #564
• US rank: #12776

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Churdan, IA
• Population (ZIP): 758

Population outlook (Greene County) Hauer SSP2

• Today (2025): 8,361 people
• By 2030: 8,090 · -3.2%
• By 2040: 7,607 · -9.0%
• By 2050: 7,186 · -14.1%
• By 2075: 6,528 · -21.9%
• By 2100: 5,799 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Asian 2% Native American 1%
• Common ancestry: Portuguese 5% Romanian 3% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+33.0) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -33.4pp toward R · 2008: 0.5pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+28.8 2016: R+23.8 2012: R+0.1 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.86%
• Current HPI: 191.3794
• 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

-32.0% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $85,000 IAR
• 2026-03-23 Price Changed $90,000 IAR
• 2026-01-14 Price Changed $99,000 IAR
• 2025-11-05 Price Changed $111,000 IAR
• 2025-09-15 Price Changed $115,000 IAR
• 2025-08-29 Listed $125,000 IAR

Property tax history

+9.8%/yr

Latest (2025): $548 · +6.2% YoY. Source: county tax records.