6839 Center St · Baxter, IA 50127

$114,900

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 84 Days on market

Built 1920 0.26 ac lot $130/sqft · 38% below area Est $186k · 38% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• Schools +5.4/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks MLS

If you like a more country setting without the big payments, this one is for you. Well cared for bungalow offering one level living! Offering 2 bedrooms and 1 bath. Rather you are looking for a starter home or a downsize option, this one will provide. Located in the quiet and quaint community of Ira. Great space with open concept flowing from the kitchen, dining room and living room. Laundry on the main floor with an updated bathroom. Newer roof for peace of mind. Septic inspection has been complete. This large corner lot gives you plenty to work with and a detached 1 car garage. Kitchen appliances stay. Check this affordable option out!

Key facts

• 0.26 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-21 ($-256/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (25.6% below list).
• Recommended offer: $85k (25.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#136 in IA, #2,488 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Colfax-Mingo Community School District (rural): math 59% / reading 66% proficiency, ranked #213 of 289 in IA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($794 loan paydown + $3k appreciation (3.0% local appreciation)).
• Jasper County population projected to shrink 7% 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $25k; list at $115k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $85,474 (25.6% 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. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• GRM: 11.2

CMA / ARV

• ARV (median comp): $186,087
• List price: $114,900
• Delta: -38.25%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.39×
• Total profit: $12,435
• Equity at exit: $51,664

10-year hold

• IRR: 9.5%
• Equity multiple: 2.43×
• Total profit: $46,126
• Equity at exit: $79,620

Cash invested: $32,172 (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 50127

• Active inventory: 1
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $855 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $-21

Break-even live

Break-even rent $882

Max offer price $111,129

Occupancy floor 98%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $114,900 Active 84 DOM
2. 2026-06-17
   days on market $114,900 Active 83 DOM
3. 2026-06-16
   days on market $114,900 Active 82 DOM
4. 2026-06-15
   days on market $114,900 Active 81 DOM
5. 2026-06-14
   days on market $114,900 Active 79 DOM
6. 2026-06-13
   days on market $114,900 Active 78 DOM
7. 2026-06-10
   days on market $114,900 Active 76 DOM
8. 2026-06-09
   days on market $114,900 Active 75 DOM
9. 2026-06-08
   days on market $114,900 Active 74 DOM
10. 2026-06-07
    days on market $114,900 Active 73 DOM
11. 2026-06-05
    days on market $114,900 Active 70 DOM
12. 2026-06-03
    days on market $114,900 Active 69 DOM
13. 2026-06-02
    days on market $114,900 Active 68 DOM
14. 2026-06-01
    days on market $114,900 Active 67 DOM
15. 2026-05-31
    days on market $114,900 Active 66 DOM
16. 2026-05-31
    days on market $114,900 Active 65 DOM
17. 2026-03-26
    listed $114,900 Active 646-char remark

    Show marketing remark (646 chars)

    If you like a more country setting without the big payments, this one is for you. Well cared for bungalow offering one level living! Offering 2 bedrooms and 1 bath. Rather you are looking for a starter home or a downsize option, this one will provide. Located in the quiet and quaint community of Ira. Great space with open concept flowing from the kitchen, dining room and living room. Laundry on the main floor with an updated bathroom. Newer roof for peace of mind. Septic inspection has been complete. This large corner lot gives you plenty to work with and a detached 1 car garage. Kitchen appliances stay. Check this affordable option out!

18. 2026-03-17
    historical
19. 2025-11-07
    price $114,900
20. 2025-09-17
    listed $119,900 Active
21. 2016-11-22
    soldstatus $25,000
22. 2016-08-17
    listed $25,000
23. 2013-11-10
    historical
24. 2013-05-10
    listed $60,000

ⓘ 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: $554 · $46/mo
• Projected year-2 tax: $1,179 · $98/mo
• Expected delta: +$625/yr (+$52/mo · 112.8%)

ⓘ 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 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: $10,257
• − Mortgage interest: −$6,436
• − Property taxes: −$554
• − Insurance: −$574
• − Repairs & maintenance: −$821
• − Management: −$821
• − Depreciation: −$3,343
• Taxable loss: −$2,291
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $294/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: Colfax-Mingo Community School District
• NCES district ID: 1900009
• Math proficiency: 59% ▼ -2.00%
• Reading proficiency: 66% ▲ 7.00%
• Median HH income: $53,956
• Composite: 53.51/100
• National rank: #1450
• State rank: #213 of 289 in IA

Livability — Baxter

• Score: 78/100
• State rank: #136
• US rank: #2488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+91.5% since first listed

8 events — show timeline

• 2026-03-26 Listed $114,900 DMMLS
• 2026-03-17 Listing Removed — DMMLS
• 2025-11-07 Price Changed $114,900 DMMLS
• 2025-09-17 Listed $119,900 DMMLS
• 2016-11-22 Sold (MLS) $25,000 DMMLS
• 2016-08-17 Listed $25,000 DMMLS
• 2013-11-10 Listing Removed — DMMLS
• 2013-05-10 Listed $60,000 DMMLS

Property tax history

+4.3%/yr

Latest (2025): $554 · +3.0% YoY. Source: county tax records.