1208 9th St · Hawarden, IA 51023

$124,850

3 bd · 1.5 ba · 1,982 sqft · SingleFamily public records · 26 Days on market

Built 1905 0.31 ac lot $63/sqft · 41% below area Est $155k · 20% under ↓ 3% since listing

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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 +16.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• DSCR +5.1/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this charming, cozy, and well-maintained 3-bedroom, 1-bathroom home with a spacious yard—perfect for first-time buyers, downsizers, or investors! Step inside to find an inviting main living area featuring high ceilings, an eat-in kitchen, and a full bathroom. One bedroom is conveniently located on the main floor, while the second level offers a large primary bedroom along with a third bedroom that could also serve as an ideal office or nursery. The basement provides excellent storage space with potential for additional use. Don’t miss your chance to own this gem—schedule your showing today! Closing must be after May 29th. Seller offering $1500 flooring credit.

Key facts

• Spacious yard
• Main living area
• Full bathroom

Tags

• SPACIOUS YARD
• MAIN LIVING AREA
• EAT-IN KITCHEN
• FULL BATHROOM
• EXCELLENT STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $75 ($897/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 $114k (8.9% below list).
• Recommended offer: $114k (8.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#201 in IA, #3,671 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• West Sioux Community School District (rural): math 60% / reading 62% proficiency, ranked #239 of 289 in IA (top 83%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hawarden Elementary School (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 196 students, 61% FRL); West Sioux Middle School (math 62% / reading 57%, grade B, #185 of 246 statewide, top 78%, 168 students, 56% FRL); West Sioux High School (math 57% / reading 72%, grade B-, #211 of 336 statewide, top 70%, 265 students, 51% FRL).
• Market conditions: 14 active listings in the ZIP; 201 units permitted in Sioux County in 2024 (52 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Sioux County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,708 (8.9% below list)

Questions for the listing agent

1. Built in 1905 — 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. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.56%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (median comp): $155,246
• List price: $124,850
• Delta: -19.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 Ave F	0.54mi	3/1.5	1,859 (-6%)	2mo	$140,000	$75	63
1303 9th St	0.08mi	2/1.8 (-1)	1,848 (-7%)	23mo	$215,000	$116	60
1009 Thunderbird Dr	0.31mi	3/2.0	2,248 (+13%)	11mo	$205,000	$91	52
1115 15th St	0.54mi	2/2.0 (-1)	1,712 (-14%)	10mo	$220,000	$129	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 3.08×
• Total profit: $72,748
• Equity at exit: $112,475

10-year hold

• IRR: 22.9%
• Equity multiple: 7.02×
• Total profit: $210,475
• Equity at exit: $242,556

Cash invested: $34,958 (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 51023

• Home prices YoY: 12.6%
• Active inventory: 14
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $75

Break-even live

Break-even rent $1,043

Max offer price $124,850

Occupancy floor 88%

Sensitivity live

Price	-10% $145	-5% $110	+0% $75	+5% $39	+10% $4
Rent	-10% $-15	-5% $30	+0% $75	+5% $120	+10% $165
Rate	-1.0pp $138	-0.5pp $106	base $75	+0.5pp $42	+1.0pp $9

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: $31,212
• Closing costs: $3,746
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-04
   status Pending 697-char remark

   Show marketing remark (697 chars)

   Welcome to this charming, cozy, and well-maintained 3-bedroom, 1-bathroom home with a spacious yard—perfect for first-time buyers, downsizers, or investors! Step inside to find an inviting main living area featuring high ceilings, an eat-in kitchen, and a full bathroom. One bedroom is conveniently located on the main floor, while the second level offers a large primary bedroom along with a third bedroom that could also serve as an ideal office or nursery. The basement provides excellent storage space with potential for additional use. Don’t miss your chance to own this gem—schedule your showing today! Closing must be after May 29th. Seller offering $1500 flooring credit.

2. 2026-04-22
   price $124,850 697-char remark

   Show marketing remark (697 chars)

   Welcome to this charming, cozy, and well-maintained 3-bedroom, 1-bathroom home with a spacious yard—perfect for first-time buyers, downsizers, or investors! Step inside to find an inviting main living area featuring high ceilings, an eat-in kitchen, and a full bathroom. One bedroom is conveniently located on the main floor, while the second level offers a large primary bedroom along with a third bedroom that could also serve as an ideal office or nursery. The basement provides excellent storage space with potential for additional use. Don’t miss your chance to own this gem—schedule your showing today! Closing must be after May 29th. Seller offering $1500 flooring credit.

3. 2026-04-08
   listed $129,000 Active 697-char remark

   Show marketing remark (697 chars)

   Welcome to this charming, cozy, and well-maintained 3-bedroom, 1-bathroom home with a spacious yard—perfect for first-time buyers, downsizers, or investors! Step inside to find an inviting main living area featuring high ceilings, an eat-in kitchen, and a full bathroom. One bedroom is conveniently located on the main floor, while the second level offers a large primary bedroom along with a third bedroom that could also serve as an ideal office or nursery. The basement provides excellent storage space with potential for additional use. Don’t miss your chance to own this gem—schedule your showing today! Closing must be after May 29th. Seller offering $1500 flooring credit.

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$279/yr (+$23/mo · 19.9%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,645
• − Mortgage interest: −$6,994
• − Property taxes: −$1,402
• − Insurance: −$624
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$3,632
• Taxable loss: −$1,190
• Est. tax savings @ 24.0%: +$286
• After-tax cash flow: $1,182/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: West Sioux Community School District
• NCES district ID: 1931290
• Math proficiency: 60% ▲ 2.00%
• Reading proficiency: 62% ▲ 14.00%
• Median HH income: $47,848
• Composite: 51.7/100
• National rank: #1690
• State rank: #239 of 289 in IA

Livability — Hawarden

• Score: 76/100
• State rank: #201
• US rank: #3671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawarden, IA
• Population (ZIP): 3,437

Population outlook (Sioux County) Hauer SSP2

• Today (2025): 35,762 people
• By 2030: 36,317 · +1.6%
• By 2040: 37,204 · +4.0%
• By 2050: 37,990 · +6.2%
• By 2075: 39,504 · +10.5%
• By 2100: 39,809 · +11.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 29% Two or more races 14% Native American 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Iranian 16% Portuguese 4% Lithuanian 3%
• Foreign-born: 19% · Canada
• Languages at home: 79% English-only · Spanish 20%

Political lean MEDSL · Sioux

• 2024 margin: Solid R (+71.1) · D 13.9% · R 85.0% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -62.8pp · 2024: -71.1pp
• All cycles: 2024: R+71.1 2020: R+66.5 2016: R+69.3 2012: R+68.0 2008: R+62.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.32%
• Current HPI: 280.7825
• 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

-3.2% since first listed

3 events — show timeline

• 2026-05-04 Pending — NWIA
• 2026-04-22 Price Changed $124,850 NWIA
• 2026-04-08 Listed $129,000 NWIA

Property tax history

+3.8%/yr

Latest (2025): $1,402 · +2.3% YoY. Source: county tax records.