9325 Imperial Ave · Kellogg, IA 50135

$99,900

3 bd · 2.0 ba · 1,544 sqft · SingleFamily public records · 2 Days on market

Built 1948 1.04 ac 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 +23.3/30.0
• Appreciation +8.7/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step back in time with this unique Kellogg homestead, situated on just over an acre with stunning panoramic views. Legend has it the original structure served as a two-room stagecoach stop, offering a rare opportunity to restore a piece of local history. The main floor currently features two bedrooms and multiple additions that provide expansive living areas ready for your creative vision. Outside, the property is a hobbyists dream, featuring a massive 2-car attached garage, a large pole building shop, and an additional rear garage with a lean-to. While the home requires significant TLC, the combination of historical intrigue, expansive outbuildings, and incredible deck views makes this the

Key facts

• Panoramic views
• 1.04 acre lot
• 6 garage spots

Tags

• PANORAMIC VIEWS
• EXPANSIVE LIVING AREAS
• MASSIVE 2-CAR ATTACHED GARAGE
• LARGE POLE BUILDING SHOP
• ADDITIONAL REAR GARAGE
• INCREDIBLE DECK VIEWS

Property features AI

Finance

• Other: Irregular lot; Gravel road; Zoned R; Lot size approximately 1.04 acres

Exterior

• Parking: Attached garage; Detached garage; One-car garage; Two-car garage; Total garage spaces: 6
• Utilities: Septic tank sewer; Rural water source
• Home design: Vinyl siding
• Construction: Asphalt shingle roof; Block foundation; Vinyl siding construction
• Exterior features: Covered deck; Deck

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Baseboard heating; Electric heating; Propane heating; Central air conditioning
• Interior features: Daylight, unfinished basement; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 57/100 on livability (#904 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools F, amenities F, commute 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: 19 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($691 loan paydown + $7k appreciation (7.3% local appreciation)).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $378,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9169 Hwy 6 Hwy E	0.46mi	3/2.5	1,652 (+7%)	18mo	$405,000	$245	50

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

Projected returns pro-forma

7.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.74×
• Total profit: $48,600
• Equity at exit: $71,368

10-year hold

• IRR: 22.6%
• Equity multiple: 5.74×
• Total profit: $132,496
• Equity at exit: $137,552

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 50135

• Home prices YoY: 2.4%
• Active inventory: 19
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$185 /mo · $2,220/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $183

Break-even live

Break-even rent $950

Max offer price $99,900

Occupancy floor 80%

Sensitivity live

Price	-10% $239	-5% $211	+0% $183	+5% $155	+10% $126
Rent	-10% $90	-5% $136	+0% $183	+5% $230	+10% $276
Rate	-1.0pp $233	-0.5pp $208	base $183	+0.5pp $157	+1.0pp $131

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 2 events

1. 2026-05-20
   status Pending
2. 2026-05-17
   listed $99,900 Active

ⓘ 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: $2,220 · $185/mo
• Projected year-2 tax: $2,220 · $185/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $14,178
• − Mortgage interest: −$5,596
• − Property taxes: −$2,220
• − Insurance: −$500
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$2,906
• Taxable income: $688
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $2,030/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 — Kellogg

• Score: 57/100
• State rank: #904
• US rank: #21560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,777

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 6% Portuguese 5% Slovak 4%
• Foreign-born: 1% · Canada

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: ▲ 7.33%
• Current HPI: 312.7639
• 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

2 events — show timeline

• 2026-05-20 Pending — DMMLS
• 2026-05-17 Listed $99,900 DMMLS

Property tax history

+2.3%/yr

Latest (2025): $2,220 · -0.3% YoY. Source: county tax records.