600 E 24th St S · Newton, IA 50208

$90,000

2 bd · 1.0 ba · 687 sqft · SingleFamily public records · 95 Days on market

Built 1954 7,192 sqft lot $131/sqft · 34% below area Est $137k · 34% under

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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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.1/10.0
• DSCR +4.6/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your first home? or an investment property? Check this property out! Many updates: Furnace 2023, new roof, siding and gutters. Windows were replaced 9 years ago. New vinyl flooring in kitchen. Don't dilly dally at this price it's going to go fast. Contact your agent today!

Key facts

• Siding and gutters
• Furnace 2023
• Windows replaced

Tags

• FURNACE 2023
• NEW ROOF
• SIDING AND GUTTERS
• WINDOWS REPLACED
• NEW VINYL FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $28 ($331/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (9.7% below list).
• Recommended offer: $81k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.1% in Newton — 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 77/100 on livability (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $90k implies a 362% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,271 (9.7% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 9.2

CMA / ARV

• ARV (median comp): $136,571
• List price: $90,000
• Delta: -34.10%
• 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
600 E 26th St S	0.12mi	2/1.0	672 (-2%)	2mo	$105,000	$156	89
604 E 26th St S	0.12mi	2/1.0	672 (-2%)	6mo	$115,000	$171	86
2506 S 8th Ave E	0.16mi	2/1.0	724 (+5%)	0mo	$76,000	$105	83
2105 S 5th Ave E	0.17mi	2/1.0	664 (-3%)	4mo	$147,000	$221	83
600 E 23rd St S	0.06mi	2/1.0	720 (+5%)	10mo	$130,000	$181	81
408 E 21st St S	0.20mi	2/1.0	732 (+7%)	0mo	$156,000	$213	80
2505 S 8th Ave E	0.17mi	3/2.0 (+1)	700 (+2%)	7mo	$125,000	$179	74
601 E 22nd St S	0.15mi	2/1.0	768 (+12%)	2mo	$145,000	$189	72
709 E 27th St S	0.17mi	2/1.0	768 (+12%)	5mo	$60,000	$78	68
2011 S 3rd Ave E	0.28mi	2/1.0	758 (+10%)	10mo	$150,000	$198	61
512 E 19th St S	0.30mi	2/1.0	786 (+14%)	2mo	$153,000	$195	61
207 E 16th St N	0.68mi	2/1.0	720 (+5%)	8mo	$160,000	$222	54

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-12,820
• Equity at exit: $13,419

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-8,871
• Equity at exit: $7,782

Cash invested: $25,200 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $813 high
• Mortgage (P&I): −$472
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $28

Break-even live

Break-even rent $778

Max offer price $90,000

Occupancy floor 92%

Sensitivity live

Price	-10% $79	-5% $53	+0% $28	+5% $2	+10% $-23
Rent	-10% $-37	-5% $-5	+0% $28	+5% $60	+10% $92
Rate	-1.0pp $73	-0.5pp $50	base $28	+0.5pp $4	+1.0pp $-19

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 E 6th St S Newton, IA	2.0	1.0	650	$775	$1.19	45d	1	1.23mi
1026 E 12th St N Newton, IA	1.0	1.0	590	$625	$1.06	22d	1	1.28mi
605 E 7 1/2 St N Newton, IA	2.0	1.0	672	$1,200	$1.79	45d	1	1.33mi
126 E 5th St S Newton, IA	1.0	1.0	550	$599	$1.09	24d	1	1.33mi
726 E 8th St N Newton, IA	1.0	1.0	708	$895	$1.26	15d	1	1.34mi
427 N 2nd Ave E Newton, IA	1.0	1.0	575	$599	$1.04	45d	1	1.40mi

Listing history 22 events

1. 2026-06-21
   days on market $90,000 Active 95 DOM
2. 2026-06-18
   days on market $90,000 Active 92 DOM
3. 2026-06-17
   days on market $90,000 Active 91 DOM
4. 2026-06-16
   days on market $90,000 Active 90 DOM
5. 2026-06-15
   days on market $90,000 Active 89 DOM
6. 2026-06-14
   days on market $90,000 Active 87 DOM
7. 2026-06-13
   days on market $90,000 Active 86 DOM
8. 2026-06-10
   days on market $90,000 Active 84 DOM
9. 2026-06-09
   days on market $90,000 Active 83 DOM
10. 2026-06-08
    days on market $90,000 Active 82 DOM
11. 2026-06-07
    days on market $90,000 Active 81 DOM
12. 2026-06-05
    days on market $90,000 Active 78 DOM
13. 2026-06-03
    days on market $90,000 Active 77 DOM
14. 2026-06-02
    days on market $90,000 Active 76 DOM
15. 2026-06-01
    days on market $90,000 Active 75 DOM
16. 2026-05-31
    days on market $90,000 Active 74 DOM
17. 2026-05-31
    days on market $90,000 Active 73 DOM
18. 2026-04-21
    price $90,000 291-char remark

    Show marketing remark (291 chars)

    Looking for your first home? or an investment property? Check this property out! Many updates: Furnace 2023, new roof, siding and gutters. Windows were replaced 9 years ago. New vinyl flooring in kitchen. Don't dilly dally at this price it's going to go fast. Contact your agent today!

19. 2026-03-18
    listed $95,000 Active 291-char remark

    Show marketing remark (291 chars)

    Looking for your first home? or an investment property? Check this property out! Many updates: Furnace 2023, new roof, siding and gutters. Windows were replaced 9 years ago. New vinyl flooring in kitchen. Don't dilly dally at this price it's going to go fast. Contact your agent today!

20. 2017-05-19
    soldstatus $19,500
21. 2017-05-17
    soldstatus $19,430 12-char remark

    Show marketing remark (12 chars)

    24 hour sale

22. 2017-01-28
    listed $15,000 12-char remark

    Show marketing remark (12 chars)

    24 hour sale

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,336 · $111/mo
• Expected delta: +$76/yr (+$6/mo · 6.1%)

ⓘ 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 3/10 Moderate
• 🌡 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: $9,753
• − Mortgage interest: −$5,041
• − Property taxes: −$1,260
• − Insurance: −$450
• − Repairs & maintenance: −$780
• − Management: −$780
• − Depreciation: −$2,618
• Taxable loss: −$1,177
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $613/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+500.0% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $90,000 DMMLS
• 2026-03-18 Listed $95,000 DMMLS
• 2017-05-19 Sold (Public Records) $19,500 Public Records
• 2017-05-17 Sold (MLS) $19,430 DMMLS
• 2017-01-28 Listed $15,000 DMMLS

Property tax history

+3.0%/yr

Latest (2025): $1,260 · +0.5% YoY. Source: county tax records.