1620 River St · Iowa Falls, IA 50126

$78,000

3 bd · 1.5 ba · 1,528 sqft · SingleFamily public records · 23 Days on market

Built 1910 8,712 sqft lot $51/sqft · 43% below area Est $136k · 43% under

---

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 +5.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1½ Story Home Full of Character & Opportunity! This 3-bedroom, 1 full bath home is packed with timeless charm and original details you’ll love—featuring a gorgeous front door, stunning woodwork, classic staircase, ceiling beams, trim, and beautiful built-ins throughout. Enjoy the inviting three-season front porch—perfect as a drop zone or mudroom. Inside, the open-concept living and dining area creates a warm, welcoming space ideal for everyday living or entertaining. Be sure to notice the elegant colonnade and the leaded glass built-in buffet in the dining room—true standout features! The kitchen is conveniently located just off the dining area, and all appliances stay. The main level also offers a bonus space perfect for a home office, along with a bedroom for added convenience. Upstairs, you’ll find two additional bedrooms plus extra attic storage space. Outside, a 2-stall detached garage provides ample parking and storage. The backyard is perfectly situated next to North Park—enjoy peaceful views of the gazebo, picnic tables, and park benches while watching local wildlife. Located just minutes from vibrant downtown shopping and dining, and only a few blocks from Ellsworth Community College, this home also offers excellent potential as a rental property for college students. Don’t miss your chance to own this character-filled home in a prime location!

Key facts

• Beautiful built-ins
• Classic staircase
• Gorgeous front door

Tags

• GORGEOUS FRONT DOOR
• STUNNING WOODWORK
• CLASSIC STAIRCASE
• CEILING BEAMS
• BEAUTIFUL BUILT-INS
• THREE-SEASON FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.8% in Iowa Falls — 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 77/100 on livability (#172 in IA, #3,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Iowa Falls Community School District (town): math 62% / reading 71% proficiency, ranked #184 of 289 in IA (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 90 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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.
• Current owner paid $64k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,830 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.88%
• DSCR: 1.88
• GRM: 5.5

CMA / ARV

• ARV (median comp): $135,762
• List price: $78,000
• Delta: -42.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 River St	0.00mi	3/1.0	1,528 (0%)	1mo	$78,000	$51	97
1103 Siloam Ave	0.18mi	3/2.0	1,528 (0%)	3mo	$105,500	$69	87
1010 N 2nd Ave	0.15mi	4/1.5 (+1)	1,450 (-5%)	5mo	$207,500	$143	75
1115 Woodland Ave	0.18mi	3/2.5	1,634 (+7%)	2mo	$149,900	$92	75
804 Siloam Ave	0.10mi	3/2.0	1,394 (-9%)	11mo	$182,500	$131	69
209 Mulford Dr	0.62mi	3/2.0	1,544 (+1%)	9mo	$220,000	$142	60
1315 College Ave	0.18mi	3/1.0	1,352 (-12%)	13mo	$85,000	$63	60
1102 Willow Ln	0.29mi	3/2.0	1,312 (-14%)	10mo	$135,000	$103	52
118 Mildred Ave	0.69mi	3/1.5	1,362 (-11%)	0mo	$194,900	$143	50
309 Hickory St	0.69mi	4/1.5 (+1)	1,414 (-8%)	15mo	$97,000	$69	38
618 Main St	0.63mi	3/1.5	1,732 (+13%)	17mo	$107,000	$62	35
517 Fremont Sts	0.73mi	2/3.0 (-1)	1,732 (+13%)	15mo	$154,750	$89	20

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $10,451
• Equity at exit: $11,630

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $38,947
• Equity at exit: $6,744

Cash invested: $21,840 (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 50126

• Active inventory: 90
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$135 /mo · $1,618/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $362

Break-even live

Break-even rent $730

Max offer price $78,000

Occupancy floor 65%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-02
   status Pending 1442-char remark

   Show marketing remark (1442 chars)

   Charming 1½ Story Home Full of Character & Opportunity! This 3-bedroom, 1 full bath home is packed with timeless charm and original details you’ll love—featuring a gorgeous front door, stunning woodwork, classic staircase, ceiling beams, trim, and beautiful built-ins throughout. Enjoy the inviting three-season front porch—perfect as a drop zone or mudroom. Inside, the open-concept living and dining area creates a warm, welcoming space ideal for everyday living or entertaining. Be sure to notice the elegant colonnade and the leaded glass built-in buffet in the dining room—true standout features! The kitchen is conveniently located just off the dining area, and all appliances stay. The main level also offers a bonus space perfect for a home office, along with a bedroom for added convenience. Upstairs, you’ll find two additional bedrooms plus extra attic storage space. Outside, a 2-stall detached garage provides ample parking and storage. The backyard is perfectly situated next to North Park—enjoy peaceful views of the gazebo, picnic tables, and park benches while watching local wildlife. Located just minutes from vibrant downtown shopping and dining, and only a few blocks from Ellsworth Community College, this home also offers excellent potential as a rental property for college students. Don’t miss your chance to own this character-filled home in a prime location!

2. 2026-04-09
   listed $78,000 Active 1442-char remark

   Show marketing remark (1442 chars)

   Charming 1½ Story Home Full of Character & Opportunity! This 3-bedroom, 1 full bath home is packed with timeless charm and original details you’ll love—featuring a gorgeous front door, stunning woodwork, classic staircase, ceiling beams, trim, and beautiful built-ins throughout. Enjoy the inviting three-season front porch—perfect as a drop zone or mudroom. Inside, the open-concept living and dining area creates a warm, welcoming space ideal for everyday living or entertaining. Be sure to notice the elegant colonnade and the leaded glass built-in buffet in the dining room—true standout features! The kitchen is conveniently located just off the dining area, and all appliances stay. The main level also offers a bonus space perfect for a home office, along with a bedroom for added convenience. Upstairs, you’ll find two additional bedrooms plus extra attic storage space. Outside, a 2-stall detached garage provides ample parking and storage. The backyard is perfectly situated next to North Park—enjoy peaceful views of the gazebo, picnic tables, and park benches while watching local wildlife. Located just minutes from vibrant downtown shopping and dining, and only a few blocks from Ellsworth Community College, this home also offers excellent potential as a rental property for college students. Don’t miss your chance to own this character-filled home in a prime location!

3. 2026-01-27
   status Active
4. 2026-01-07
   status Pending
5. 2025-12-08
   historical Active Under Contract
6. 2025-09-15
   listed $79,900 Active
7. 2019-09-04
   soldstatus $63,625
8. 2019-08-30
   soldstatus $64,000
9. 2019-05-17
   listed $69,500
10. 2019-02-18
    soldstatus $19,875
11. 2019-02-15
    soldstatus $20,000
12. 2018-12-12
    listed $27,999

ⓘ 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: $1,618 · $135/mo
• Projected year-2 tax: $1,618 · $135/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $14,252
• − Mortgage interest: −$4,369
• − Property taxes: −$1,618
• − Insurance: −$390
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$2,269
• Taxable income: $3,326
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $3,545/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: Iowa Falls Community School District
• NCES district ID: 1914730
• Math proficiency: 62% ▼ -9.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $46,696
• Composite: 56.12/100
• National rank: #1182
• State rank: #184 of 289 in IA

Livability — Iowa Falls

• Score: 77/100
• State rank: #172
• US rank: #3097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Falls, IA
• City population: 6,362
• Population (ZIP): 6,362

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.54%
• Current HPI: 146.3741
• 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

+178.6% since first listed

12 events — show timeline

• 2026-05-02 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-09 Listed $78,000 NEIRBR as distributed by MLS GRID
• 2026-01-27 Relisted — IAR
• 2026-01-07 Pending — IAR
• 2025-12-08 Contingent — IAR
• 2025-09-15 Listed $79,900 IAR
• 2019-09-04 Sold (Public Records) $63,625 Public Records
• 2019-08-30 Sold (MLS) $64,000 IAR
• 2019-05-17 Listed $69,500 IAR
• 2019-02-18 Sold (Public Records) $19,875 Public Records
• 2019-02-15 Sold (MLS) $20,000 IAR
• 2018-12-12 Listed $27,999 IAR

Property tax history

+5.2%/yr

Latest (2025): $1,618 · +4.9% YoY. Source: county tax records.