305 S Prince St

Dow City, IA 51528

$79,000B

3 bd · 1.5 ba · 1,144 sqft · Built 1970 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,049/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $294/mo
• Annual: $3,526/yr
• Cap rate: 10.76%
• Cash-on-cash: 15.94%
• DSCR: 1.71
• 1% rule: 1.33%
• Cash to close: $22,120

Investor read

• This is a 3-bed/1.5-bath single-family listed at $79k.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 23 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($546 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#557 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Boyer Valley Community School District (rural): math 67% / reading 62% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Boyer Valley Elementary School (math 77% / reading 57%, grade B+, #273 of 616 statewide, top 51%, 200 students, 38% FRL); Boyer Valley Middle/High School (math 62% / reading 62%, grade B-, #242 of 336 statewide, top 76%, 220 students, 40% FRL).
• Market conditions: 4 active listings in the ZIP; 18 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.