908 E 9th St · Atlantic, IA 50022

$134,900

3 bd · 1.5 ba · 1,757 sqft · SingleFamily public records · 208 Days on market

Built 1932 6,098 sqft lot $77/sqft · 28% below area Est $146k · 8% under

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Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +11.0/15.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this adorable property full of character and comfort. Step inside to beautiful wood floors that add warmth and charm throughout the bright and sunny rooms. Enjoy a fully fenced back yard and one car attached garage. This home is an ideal choice for anyone looking for charm and ease in a perfect little package!

Key facts

• Wood floors
• 6,098 sq ft lot
• Garage

Tags

• WOOD FLOORS
• FULLY FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-33 ($-397/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (14.7% below list).
• Recommended offer: $115k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.0% in Atlantic — 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 74/100 on livability (#243 in IA, #4,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, amenities F, commute F.
• Atlantic Community School District (town): math 68% / reading 72% proficiency, ranked #155 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Washington Elementary School (math 72% / reading 47%, grade B-, #390 of 616 statewide, top 69%, 515 students, 40% FRL); Atlantic Middle School (math 71% / reading 74%, grade A, #90 of 246 statewide, top 38%, 329 students, 40% FRL); Atlantic High School (math 65% / reading 76%, grade B+, #140 of 336 statewide, top 43%, 485 students, 39% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 51 active listings in the ZIP; 14 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $135k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,092 (14.7% 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 208 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1932 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 9.8

CMA / ARV

• ARV (median comp): $146,132
• List price: $134,900
• Delta: -7.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 E 6th St	0.30mi	2/1.5 (-1)	1,660 (-6%)	7mo	$162,500	$98	66
1301 Plum St	0.35mi	2/1.5 (-1)	1,630 (-7%)	6mo	$220,000	$135	62
1508 Roosevelt Dr	0.53mi	3/2.0	1,670 (-5%)	6mo	$175,000	$105	61
1410 Mulberry St	0.45mi	4/2.0 (+1)	1,866 (+6%)	2mo	$215,000	$115	60
102 E 12th St	0.64mi	3/1.5	1,802 (+3%)	11mo	$194,500	$108	57
501 Elm St	0.62mi	3/1.0	1,868 (+6%)	4mo	$98,000	$52	56
608 Hazel Street St	0.29mi	3/1.5	1,536 (-13%)	12mo	$170,000	$111	55
107 E 13 St	0.66mi	3/2.0	1,827 (+4%)	9mo	$186,000	$102	53
110 E 12th St	0.60mi	2/2.0 (-1)	1,689 (-4%)	12mo	$77,500	$46	49
600 E 18th St	0.71mi	4/2.0 (+1)	1,670 (-5%)	8mo	$215,000	$129	45
1205 Maple St	0.56mi	2/2.0 (-1)	1,558 (-11%)	10mo	$138,000	$89	40
1403 Redwood Dr	0.54mi	3/3.5	1,988 (+13%)	10mo	$395,000	$199	36

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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-23,943
• Equity at exit: $20,114

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-23,466
• Equity at exit: $11,664

Cash invested: $37,772 (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 50022

• Home prices YoY: -28.8%
• Active inventory: 51
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$179 /mo · $2,144/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-33

Break-even live

Break-even rent $1,193

Max offer price $129,057

Occupancy floor 98%

Sensitivity live

Price	-10% $43	-5% $5	+0% $-33	+5% $-71	+10% $-109
Rent	-10% $-124	-5% $-79	+0% $-33	+5% $12	+10% $58
Rate	-1.0pp $35	-0.5pp $1	base $-33	+0.5pp $-68	+1.0pp $-104

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $134,900 Active 208 DOM
2. 2026-06-21
   days on market $134,900 Active 207 DOM
3. 2026-06-18
   days on market $134,900 Active 205 DOM
4. 2026-06-17
   days on market $134,900 Active 204 DOM
5. 2026-06-16
   days on market $134,900 Active 203 DOM
6. 2026-06-15
   days on market $134,900 Active 202 DOM
7. 2026-06-13
   days on market $134,900 Active 200 DOM
8. 2026-06-12
   days on market $134,900 Active 199 DOM
9. 2026-06-09
   days on market $134,900 Active 196 DOM
10. 2026-06-09
    price $134,900 Active 195 DOM
11. 2026-06-08
    days on market $139,900 Active 195 DOM
12. 2026-06-07
    days on market $139,900 Active 194 DOM
13. 2026-06-07
    days on market $139,900 Active 193 DOM
14. 2026-06-04
    days on market $139,900 Active 190 DOM
15. 2026-06-02
    days on market $139,900 Active 189 DOM
16. 2026-06-01
    days on market $139,900 Active 188 DOM
17. 2026-05-31
    pricedays on market $139,900 Active 187 DOM
18. 2026-05-31
    days on market $146,000 Active 186 DOM
19. 2025-11-25
    listed $146,000 Active 327-char remark

    Show marketing remark (327 chars)

    Welcome home to this adorable property full of character and comfort. Step inside to beautiful wood floors that add warmth and charm throughout the bright and sunny rooms. Enjoy a fully fenced back yard and one car attached garage. This home is an ideal choice for anyone looking for charm and ease in a perfect little package!

20. 2011-05-12
    soldstatus $89,000 235-char remark

    Show marketing remark (235 chars)

    Well cared for 1.5 story home with charm and character that says this is home! Beautiful hardwood floors, half bath on main, updated bath upstairs. Basement has family room, laundry & work shop area. Call Debbie Waterbury@249-1468.

21. 2011-05-12
    soldstatus $89,000

    Show marketing remark (235 chars)

    Well cared for 1.5 story home with charm and character that says this is home! Beautiful hardwood floors, half bath on main, updated bath upstairs. Basement has family room, laundry & work shop area. Call Debbie Waterbury@249-1468.

22. 2011-03-10
    listed $89,000 235-char remark

    Show marketing remark (235 chars)

    Well cared for 1.5 story home with charm and character that says this is home! Beautiful hardwood floors, half bath on main, updated bath upstairs. Basement has family room, laundry & work shop area. Call Debbie Waterbury@249-1468.

23. 2008-06-20
    soldstatus $70,100
24. 2005-12-05
    soldstatus $75,500

ⓘ 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: $2,144 · $179/mo
• Projected year-2 tax: $2,144 · $179/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $13,811
• − Mortgage interest: −$7,556
• − Property taxes: −$2,144
• − Insurance: −$674
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$3,924
• Taxable loss: −$2,698
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $251/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: Atlantic Community School District
• NCES district ID: 1903930
• Math proficiency: 68% ▬ 0.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $41,877
• Composite: 58.58/100
• National rank: #987
• State rank: #155 of 289 in IA

Livability — Atlantic

• Score: 74/100
• State rank: #243
• US rank: #4704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic, IA
• City population: 8,472
• Population (ZIP): 8,472

Population outlook (Cass County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 11,911 · -4.3%
• By 2040: 10,904 · -12.4%
• By 2050: 10,005 · -19.7%
• By 2075: 8,030 · -35.5%
• By 2100: 5,865 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+40.7) · D 28.9% · R 69.6% · Other 1.5%
• 2008→2024 swing: -29.9pp toward R · 2008: -10.8pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+38.0 2016: R+39.8 2012: R+18.9 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.62%
• Current HPI: 162.2127
• 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

+93.4% since first listed

6 events — show timeline

• 2025-11-25 Listed $146,000 IAR
• 2011-05-12 Sold (Public Records) $89,000 Public Records
• 2011-05-12 Sold (MLS) $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-10 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-20 Sold (Public Records) $70,100 Public Records
• 2005-12-05 Sold (Public Records) $75,500 Public Records

Property tax history

+1.4%/yr

Latest (2025): $2,144 · -1.0% YoY. Source: county tax records.