310 N Walnut St · Creston, IA 50801

$11,700

4 bd · 1.0 ba · 1,145 sqft · SingleFamily public records · 217 Days on market

Built 1898 5,663 sqft lot $10/sqft · 87% below area ↓ 19% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

Key facts

• Open floor plan
• Replacement windows
• 5,663 sq ft lot

Tags

• REPLACEMENT WINDOWS
• OPEN FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $10k (12.0% below list) — sets the bar for market timing.
• Cap rate 95.4% vs local median 4.6% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Creston Elementary School (math 60% / reading 49%, grade C, #462 of 616 statewide, top 79%, 410 students, 55% FRL); Creston Middle School (math 65% / reading 74%, grade A, #113 of 246 statewide, top 49%, 291 students, 60% FRL); Creston High School (math 63% / reading 78%, grade B+, #140 of 336 statewide, top 43%, 532 students, 46% FRL).
• Market conditions: 78 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $81 of loan paydown is wiped out by about $351 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,296 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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. 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?
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: 10.28% ✓
• Cap rate: 95.45%
• Cash-on-cash: 318.42%
• DSCR: 15.17
• GRM: 0.8

CMA / ARV

• ARV (median comp): $93,208
• List price: $11,700
• Delta: -87.45%
• 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
302 N Elm St	0.19mi	3/1.0 (-1)	1,138 (-1%)	1mo	$75,000	$66	84
505 N Walnut St	0.14mi	3/1.5 (-1)	1,040 (-9%)	4mo	$96,000	$92	68
1011 N Mulberry St	0.67mi	4/1.5	1,144 (-0%)	1mo	$199,000	$174	66
506 S Birch St	0.60mi	4/1.0	1,126 (-2%)	5mo	$82,500	$73	65
707 N Birch St	0.38mi	3/1.0 (-1)	1,064 (-7%)	3mo	$133,000	$125	63
208 N Cherry St	0.21mi	3/1.0 (-1)	989 (-14%)	0mo	$50,000	$51	62
619 N Walnut St	0.31mi	3/1.0 (-1)	1,036 (-10%)	4mo	$87,500	$84	61
805 E Carpenter St	0.56mi	3/2.0 (-1)	1,144 (-0%)	5mo	$165,000	$144	60
606 N Elm St	0.29mi	3/1.0 (-1)	1,004 (-12%)	1mo	$115,000	$115	60
702 N Cherry St	0.39mi	3/1.0 (-1)	1,252 (+9%)	4mo	$19,500	$16	58
1007 N Maple St	0.57mi	3/2.0 (-1)	1,180 (+3%)	3mo	$163,500	$139	57
606 S Elm St	0.70mi	3/2.0 (-1)	1,172 (+2%)	3mo	$165,500	$141	52

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: —
• Equity multiple: 17.33×
• Total profit: $53,487
• Equity at exit: $1,745

10-year hold

• IRR: —
• Equity multiple: 37.00×
• Total profit: $117,940
• Equity at exit: $1,012

Cash invested: $3,276 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 78
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$61
• Tax est. 1.5%: −$15 /mo · $176/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $869

Break-even live

Break-even rent $102

Max offer price $11,700

Occupancy floor 23%

Sensitivity live

Price	-10% $877	-5% $873	+0% $869	+5% $865	+10% $861
Rent	-10% $774	-5% $822	+0% $869	+5% $917	+10% $964
Rate	-1.0pp $875	-0.5pp $872	base $869	+0.5pp $866	+1.0pp $863

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: $2,925
• Closing costs: $351
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $11,700 Active 217 DOM
2. 2026-06-21
   days on market $11,700 Active 216 DOM
3. 2026-06-18
   days on market $11,700 Active 214 DOM
4. 2026-06-17
   days on market $11,700 Active 213 DOM
5. 2026-06-16
   days on market $11,700 Active 212 DOM
6. 2026-06-15
   days on market $11,700 Active 211 DOM
7. 2026-06-13
   days on market $11,700 Active 209 DOM
8. 2026-06-12
   days on market $11,700 Active 208 DOM
9. 2026-06-09
   days on market $11,700 Active 205 DOM
10. 2026-06-08
    days on market $11,700 Active 204 DOM
11. 2026-06-07
    days on market $11,700 Active 203 DOM
12. 2026-06-07
    days on market $11,700 Active 202 DOM
13. 2026-06-04
    days on market $11,700 Active 199 DOM
14. 2026-06-02
    days on market $11,700 Active 198 DOM
15. 2026-06-01
    days on market $11,700 Active 197 DOM
16. 2026-05-31
    days on market $11,700 Active 196 DOM
17. 2026-05-31
    days on market $11,700 Active 195 DOM
18. 2026-02-26
    price $11,700 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

19. 2025-12-04
    status Active 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

20. 2025-12-01
    historical Active Under Contract 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

21. 2025-11-14
    status Pending 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

22. 2025-11-06
    historical Active Under Contract 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

23. 2025-10-29
    listed $14,500 Active 395-char remark

    Show marketing remark (395 chars)

    This property is an excellent investment opportunity for fix & flip, rental, or make it your own. It is partially demoed out inside, does have some newer updates including replacement windows, and is ready to be finished to your liking. The open floor plan, 2 main floor bedrooms, main floor bath make this an excellent opportunity for instant equity, so don't let it get away, call today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,432
• − Mortgage interest: −$655
• − Property taxes: −$176
• − Insurance: −$58
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$340
• Taxable income: $10,893
• Est. tax owed @ 24.0%: −$2,614
• After-tax cash flow: $7,817/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

-19.3% since first listed

6 events — show timeline

• 2026-02-26 Price Changed $11,700 IAR
• 2025-12-04 Relisted — IAR
• 2025-12-01 Contingent — IAR
• 2025-11-14 Pending — IAR
• 2025-11-06 Contingent — IAR
• 2025-10-29 Listed $14,500 IAR

Property tax history

+5.5%/yr

Latest (2025): $848 · +78.2% YoY. Source: county tax records.