235 Way Ave · Woden, IA 50484

$99,900

3 bd · 1.5 ba · 1,458 sqft · SingleFamily public records · 31 Days on market

Built 1910 6,200 sqft lot

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Why this score? — see what drove the B 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +6.1/10.0
• Appreciation +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two story Home featuring updated in select rooms. The basement includes a water drainage system for added peace of mind. Exterior updates include newer siding and windows, enhancing curb appeal. A large attached double-car garage provides ample space for storage or workspace needs.

Key facts

• Newer siding
• Newer windows
• 6,200 sq ft lot

Tags

• WATER DRAINAGE SYSTEM
• NEWER SIDING
• NEWER WINDOWS
• ATTACHED DOUBLE-CAR GARAGE

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer or septic tank
• Home design: Two-story single-family home; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 50 x 124

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#775 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D.
• Forest City Community School District (town): math 67% / reading 78% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 3 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.3%/yr); year-one equity from $691 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $100k implies a 323% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 F-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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.33%
• DSCR: 1.64
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $64,152
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
338 Way Ave	0.08mi	3/2.0	1,478 (+1%)	9mo	$49,900	$34	85
434 Way Ave	0.12mi	3/2.0	1,488 (+2%)	10mo	$65,000	$44	81
241 Howard Ave	0.07mi	3/2.0	1,650 (+13%)	6mo	$18,000	$11	67
202 5th St	0.20mi	3/1.0	1,412 (-3%)	20mo	$120,000	$85	67
205 6th St	0.29mi	2/3.0 (-1)	1,348 (-8%)	10mo	$128,000	$95	54

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

Projected returns pro-forma

-1.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.44×
• Total profit: $12,300
• Equity at exit: $22,618

10-year hold

• IRR: 16.5%
• Equity multiple: 2.60×
• Total profit: $44,637
• Equity at exit: $22,498

Cash invested: $27,972 (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 50484

• Home prices YoY: -0.9%
• Active inventory: 3
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,174 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$28 /mo · $336/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $334

Break-even live

Break-even rent $751

Max offer price $99,900

Occupancy floor 67%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $99,900 Active 31 DOM
2. 2026-06-17
   days on market $99,900 Active 30 DOM
3. 2026-06-16
   days on market $99,900 Active 29 DOM
4. 2026-06-16
   price $99,900 Active 28 DOM
5. 2026-06-15
   days on market $110,000 Active 28 DOM
6. 2026-06-13
   days on market $110,000 Active 26 DOM
7. 2026-06-12
   days on market $110,000 Active 25 DOM
8. 2026-06-09
   days on market $110,000 Active 22 DOM
9. 2026-06-09
   price $110,000 Active 21 DOM
10. 2026-06-08
    days on market $119,999 Active 21 DOM
11. 2026-06-07
    days on market $119,999 Active 20 DOM
12. 2026-06-07
    days on market $119,999 Active 19 DOM
13. 2026-06-04
    days on market $119,999 Active 16 DOM
14. 2026-06-02
    days on market $119,999 Active 15 DOM
15. 2026-06-01
    days on market $119,999 Active 14 DOM
16. 2026-05-31
    days on market $119,999 Active 13 DOM
17. 2026-05-31
    days on market $119,999 Active 12 DOM
18. 2026-05-15
    listed $119,999 Active
19. 2017-10-06
    soldstatus $23,625

ⓘ 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: $336 · $28/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$616/yr (+$51/mo · 183.4%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $14,088
• − Mortgage interest: −$5,596
• − Property taxes: −$336
• − Insurance: −$500
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,906
• Taxable income: $2,496
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,408/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: Forest City Community School District
• NCES district ID: 1911790
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 78% ▲ 1.00%
• Median HH income: $46,674
• Composite: 61.08/100
• National rank: #789
• State rank: #111 of 289 in IA

Livability — Woden

• Score: 61/100
• State rank: #775
• US rank: #17720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woden, IA
• Population (ZIP): 385

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 12% Iranian 9% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.31%
• Current HPI: 145.1519
• 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

+407.9% since first listed

2 events — show timeline

• 2026-05-15 Listed $119,999 IAR
• 2017-10-06 Sold (Public Records) $23,625 Public Records

Property tax history

-0.9%/yr

Latest (2025): $336 · +48.7% YoY. Source: county tax records.