304 Broadway St · New Virginia, IA 50210

$220,000

3 bd · 1.5 ba · 1,348 sqft · SingleFamily public records · 22 Days on market

Built 1951 0.28 ac lot $163/sqft · 17% above area Est $187k · 17% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.1/30.0
• Schools +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• 1% rule +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Spacious 3 bed, 1 1/2 bath. New HVAC, flooring and paint. Updated bathrooms, nice corner lot.

Key facts

• Peaceful rural vibe
• 0.28 acre lot
• Garage

Tags

• FENCED QUARTER-ACRE LOT
• PEACEFUL RURAL VIBE

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding
• Exterior features: Lot approximately 0.28 acres (132 x 93); Gravel parking

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-311 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (38.9% below list).
• Recommended offer: $135k (38.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#630 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Interstate 35 Community School District (rural): math 60% / reading 66% proficiency, ranked #197 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Interstate 35 Elementary School (math 62% / reading 47%, grade C, #462 of 616 statewide, top 79%, 334 students, 25% FRL); Interstate 35 Middle School (math 58% / reading 72%, grade A-, #154 of 246 statewide, top 63%, 234 students, 28% FRL); Interstate 35 High School (math 62% / reading 67%, grade B-, #211 of 336 statewide, top 70%, 274 students, 20% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $155k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,503 (38.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.61% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.06%
• DSCR: 0.73
• GRM: 13.6

CMA / ARV

• ARV (median comp): $187,336
• List price: $220,000
• Delta: 17.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 West St	0.17mi	3/1.0	1,412 (+5%)	9mo	$167,000	$118	75
425 N Westview	0.47mi	2/2.0 (-1)	1,360 (+1%)	1mo	$289,000	$213	69
813 West St	0.36mi	3/2.0	1,299 (-4%)	14mo	$190,000	$146	64
111 Main St	0.19mi	4/1.0 (+1)	1,215 (-10%)	6mo	$105,000	$86	63
605 & 607 Grand St	0.18mi	3/1.0	1,176 (-13%)	10mo	$195,000	$166	60
602 Maple St	0.37mi	3/2.0	1,404 (+4%)	22mo	$175,000	$125	56
801 East St	0.25mi	3/1.0	1,152 (-14%)	18mo	$160,000	$139	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.62×
• Total profit: $99,932
• Equity at exit: $198,193

10-year hold

• IRR: 18.3%
• Equity multiple: 6.03×
• Total profit: $309,727
• Equity at exit: $427,412

Cash invested: $61,600 (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 50210

• Home prices YoY: 4.7%
• Active inventory: 22
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$128 /mo · $1,540/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-311

Break-even live

Break-even rent $1,739

Max offer price $165,038

Occupancy floor —

Sensitivity live

Price	-10% $-187	-5% $-249	+0% $-311	+5% $-373	+10% $-436
Rent	-10% $-417	-5% $-364	+0% $-311	+5% $-258	+10% $-205
Rate	-1.0pp $-200	-0.5pp $-255	base $-311	+0.5pp $-368	+1.0pp $-426

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-23
   days on market $220,000 Active 22 DOM
2. 2026-06-22
   price $220,000 Active 21 DOM
3. 2026-06-21
   statusdays on market $199,900 Active 21 DOM
4. 2026-05-01
   listed $199,900 Active 406-char remark
5. 2021-12-20
   soldstatus $155,000
6. 2021-12-17
   soldstatus $154,900 Closed

   Show marketing remark (93 chars)

   Spacious 3 bed, 1 1/2 bath. New HVAC, flooring and paint. Updated bathrooms, nice corner lot.

7. 2021-10-19
   status Pending

   Show marketing remark (93 chars)

   Spacious 3 bed, 1 1/2 bath. New HVAC, flooring and paint. Updated bathrooms, nice corner lot.

8. 2021-09-27
   listed $154,900 Active

   Show marketing remark (93 chars)

   Spacious 3 bed, 1 1/2 bath. New HVAC, flooring and paint. Updated bathrooms, nice corner lot.

9. 2021-05-10
   soldstatus $117,500
10. 2017-07-05
    soldstatus $70,000
11. 2017-06-30
    soldstatus $69,900
12. 2017-04-17
    listed $69,900
13. 2017-03-31
    historical
14. 2016-09-19
    listed $82,000
15. 2016-09-19
    listed $82,000
16. 2016-04-28
    soldstatus $29,000
17. 2016-04-28
    soldstatus $29,000
18. 2016-02-24
    listed $29,900
19. 2016-02-24
    listed $29,900
20. 2006-09-11
    soldstatus $59,900
21. 2006-02-16
    soldstatus $64,500
22. 2005-07-29
    listed $59,900

ⓘ 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: $1,540 · $128/mo
• Projected year-2 tax: $2,497 · $208/mo
• Expected delta: +$957/yr (+$80/mo · 62.1%)

ⓘ 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 ≥105°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: $16,140
• − Mortgage interest: −$12,323
• − Property taxes: −$1,540
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$6,400
• Taxable loss: −$7,806
• Est. tax savings @ 24.0%: +$1,873
• After-tax cash flow: $-1,860/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: Interstate 35 Community School District
• NCES district ID: 1914670
• Math proficiency: 60% ▼ -8.00%
• Reading proficiency: 66% ▼ -1.00%
• Median HH income: $64,996
• Composite: 54.98/100
• National rank: #1300
• State rank: #197 of 289 in IA

Livability — New Virginia

• Score: 64/100
• State rank: #630
• US rank: #14644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Virginia, IA
• Population (ZIP): 1,503

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 8% Portuguese 4% Scottish 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.40%
• Current HPI: 274.1726
• 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

+233.7% since first listed

21 events — show timeline

• 2026-06-10 Relisted — IAR
• 2026-05-21 Pending — IAR
• 2026-05-01 Listed $199,900 IAR
• 2021-12-20 Sold (Public Records) $155,000 Public Records
• 2021-12-17 Sold (MLS) $154,900 DMMLS
• 2021-10-19 Pending — DMMLS
• 2021-09-27 Listed $154,900 DMMLS
• 2021-05-10 Sold (Public Records) $117,500 Public Records
• 2017-07-05 Sold (Public Records) $70,000 Public Records
• 2017-06-30 Sold (MLS) $69,900 DMMLS
• 2017-04-17 Listed $69,900 DMMLS
• 2017-03-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-19 Listed $82,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-19 Listed $82,000 IAR
• 2016-04-28 Sold (MLS) $29,000 IAR
• 2016-04-28 Sold (MLS) $29,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-24 Listed $29,900 IAR
• 2016-02-24 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-11 Sold (Public Records) $59,900 Public Records
• 2006-02-16 Sold (Public Records) $64,500 Public Records
• 2005-07-29 Listed $59,900 DMMLS

Property tax history

+3.8%/yr

Latest (2025): $1,540 · -2.2% YoY. Source: county tax records.