422 Crawford St · Boone, IA 50036

$148,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 107 Days on market

Built 1880 $109/sqft · 18% below area Est $181k · 18% under

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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 +15.4/30.0
• ARV discount +15.0/15.0
• Schools +5.2/10.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 422 Crawford St in Boone! This newly renovated 3 bedroom, 1 bathroom home has been updated throughout and is move-in ready. Enjoy the fresh feel with new finishes, updated flooring, and modern touches that make the home both comfortable and stylish. The layout offers a bright living space, an updated kitchen, and three bedrooms with plenty of flexibility for family, guests, or a home office. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home is a great opportunity.

Key facts

• Bright living space
• Updated flooring
• Updated kitchen

Tags

• UPDATED FLOORING
• UPDATED KITCHEN
• BRIGHT LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $56 ($669/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 $131k (11.4% below list).
• Recommended offer: $131k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.7% in Boone — 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 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 216 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $22k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $148k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,148 (11.4% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 0.89% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

• ARV (median comp): $180,691
• List price: $148,000
• Delta: -18.09%
• 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
614 Mamie Eisenhower Ave	0.12mi	3/1.0	1,299 (-4%)	2mo	$158,000	$122	86
515 8th St	0.26mi	3/1.0	1,464 (+8%)	2mo	$152,000	$104	72
310 S Boone St	0.52mi	3/2.0	1,348 (-0%)	2mo	$221,400	$164	69
615 11th St	0.48mi	3/1.0	1,307 (-3%)	4mo	$100,000	$77	69
1322 7th St	0.74mi	3/1.5	1,406 (+4%)	2mo	$225,000	$160	55
209 12th St	0.60mi	4/2.0 (+1)	1,432 (+6%)	1mo	$225,000	$157	53
127 Tama St	0.52mi	3/1.5	1,512 (+12%)	2mo	$240,000	$159	52
1110 Aldrich Ave	0.69mi	4/2.0 (+1)	1,409 (+4%)	3mo	$131,000	$93	49
210 Linn St	0.71mi	3/2.0	1,272 (-6%)	6mo	$180,000	$142	48
1115 Aldrich Ave	0.68mi	2/1.0 (-1)	1,154 (-15%)	2mo	$206,000	$179	37
518 W 2nd St	0.72mi	4/3.5 (+1)	1,255 (-7%)	4mo	$246,925	$197	36
522 Linn St	0.70mi	4/3.0 (+1)	1,554 (+15%)	4mo	$310,000	$199	26

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-20,436
• Equity at exit: $22,067

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-13,247
• Equity at exit: $12,796

Cash invested: $41,440 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 216
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$776
• Tax from tax record: −$142 /mo · $1,710/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $56

Break-even live

Break-even rent $1,241

Max offer price $148,000

Occupancy floor 91%

Sensitivity live

Price	-10% $140	-5% $98	+0% $56	+5% $14	+10% $-28
Rent	-10% $-48	-5% $4	+0% $56	+5% $108	+10% $159
Rate	-1.0pp $130	-0.5pp $93	base $56	+0.5pp $17	+1.0pp $-22

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 W 9th St Boone, IA	3.0	2.0	1275	$1,100	$0.86	44d	1	0.72mi
680 S Marion St Boone, IA	2.0–3.0	1.0–2.0	1042	$1,295	$1.24	14d	37	1.03mi
1109 Ida Pl Boone, IA	3.0	2.5	1715	$1,950	$1.14	44d	1	1.24mi
1221 S Linn St Boone, IA	2.0–3.0	1.0	1025	$1,025	$1.00	14d	2	1.33mi
1208 S Linn St Boone, IA	3.0	2.5	1449	$1,800	$1.24	44d	1	1.34mi
115 S Plum St Unit 117 Boone, IA	3.0	1.0	1200	$1,050	$0.88	44d	1	1.45mi
2160 Cedar St Boone, IA	3.0	1.0	1008	$1,045	$1.04	45d	2	1.47mi

Listing history 25 events

1. 2026-06-21
   days on market $148,000 Active 107 DOM
2. 2026-06-18
   days on market $148,000 Active 105 DOM
3. 2026-06-17
   days on market $148,000 Active 104 DOM
4. 2026-06-16
   days on market $148,000 Active 103 DOM
5. 2026-06-15
   days on market $148,000 Active 102 DOM
6. 2026-06-13
   days on market $148,000 Active 100 DOM
7. 2026-06-12
   pricedays on market $148,000 Active 99 DOM
8. 2026-06-09
   days on market $149,000 Active 96 DOM
9. 2026-06-08
   days on market $149,000 Active 95 DOM
10. 2026-06-07
    days on market $149,000 Active 94 DOM
11. 2026-06-05
    days on market $149,000 Active 92 DOM
12. 2026-06-04
    days on market $149,000 Active 90 DOM
13. 2026-06-02
    days on market $149,000 Active 89 DOM
14. 2026-06-01
    days on market $149,000 Active 88 DOM
15. 2026-05-31
    days on market $149,000 Active 87 DOM
16. 2026-05-31
    days on market $149,000 Active 86 DOM
17. 2026-05-07
    price $149,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to 422 Crawford St in Boone! This newly renovated 3 bedroom, 1 bathroom home has been updated throughout and is move-in ready. Enjoy the fresh feel with new finishes, updated flooring, and modern touches that make the home both comfortable and stylish. The layout offers a bright living space, an updated kitchen, and three bedrooms with plenty of flexibility for family, guests, or a home office. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home is a great opportunity.

18. 2026-04-13
    price $159,000 530-char remark

    Show marketing remark (530 chars)

    Welcome to 422 Crawford St in Boone! This newly renovated 3 bedroom, 1 bathroom home has been updated throughout and is move-in ready. Enjoy the fresh feel with new finishes, updated flooring, and modern touches that make the home both comfortable and stylish. The layout offers a bright living space, an updated kitchen, and three bedrooms with plenty of flexibility for family, guests, or a home office. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home is a great opportunity.

19. 2026-03-19
    price $163,900 530-char remark

    Show marketing remark (530 chars)

    Welcome to 422 Crawford St in Boone! This newly renovated 3 bedroom, 1 bathroom home has been updated throughout and is move-in ready. Enjoy the fresh feel with new finishes, updated flooring, and modern touches that make the home both comfortable and stylish. The layout offers a bright living space, an updated kitchen, and three bedrooms with plenty of flexibility for family, guests, or a home office. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home is a great opportunity.

20. 2026-03-05
    listed $169,900 Active 530-char remark

    Show marketing remark (530 chars)

    Welcome to 422 Crawford St in Boone! This newly renovated 3 bedroom, 1 bathroom home has been updated throughout and is move-in ready. Enjoy the fresh feel with new finishes, updated flooring, and modern touches that make the home both comfortable and stylish. The layout offers a bright living space, an updated kitchen, and three bedrooms with plenty of flexibility for family, guests, or a home office. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home is a great opportunity.

21. 2026-01-21
    soldstatus $85,000
22. 2015-02-04
    soldstatus $72,000
23. 2015-01-30
    soldstatus $72,000 225-char remark

    Show marketing remark (225 chars)

    Great 1.5 story, 3 BRM home! Master on the main, with 2 more bedrooms upstairs. Laundry also located on the main. Hardwood floors and an updated bath on the main. New flooring and paint. New roof in 2014! Nice large backyard.

24. 2014-07-28
    listed $75,900 225-char remark

    Show marketing remark (225 chars)

    Great 1.5 story, 3 BRM home! Master on the main, with 2 more bedrooms upstairs. Laundry also located on the main. Hardwood floors and an updated bath on the main. New flooring and paint. New roof in 2014! Nice large backyard.

25. 2006-09-05
    soldstatus $66,000

ⓘ 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: $1,710 · $142/mo
• Projected year-2 tax: $2,017 · $168/mo
• Expected delta: +$307/yr (+$26/mo · 17.9%)

ⓘ 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: $15,738
• − Mortgage interest: −$8,290
• − Property taxes: −$1,710
• − Insurance: −$740
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$4,305
• Taxable loss: −$1,826
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $1,108/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

+125.8% since first listed

9 events — show timeline

• 2026-05-07 Price Changed $149,000 DMMLS
• 2026-04-13 Price Changed $159,000 DMMLS
• 2026-03-19 Price Changed $163,900 DMMLS
• 2026-03-05 Listed $169,900 DMMLS
• 2026-01-21 Sold (Public Records) $85,000 Public Records
• 2015-02-04 Sold (Public Records) $72,000 Public Records
• 2015-01-30 Sold (MLS) $72,000 CIBOR
• 2014-07-28 Listed $75,900 CIBOR
• 2006-09-05 Sold (Public Records) $66,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,710 · +4.1% YoY. Source: county tax records.