101 W 8th St · Prairie City, IA 50228

$279,000

3 bd · 1.0 ba · 1,134 sqft · SingleFamily public records · 38 Days on market

Built 1961 Est $236k · 18% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Schools +6.0/10.0
• Cash flow +4.0/30.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this solid 3-bed, 1-bath home, with an additional non-conforming bedroom in the lower level with walk-in closet, sitting on a spacious corner lot with great potential. Enjoy the convenience of a one-car attached garage perfect for avoiding the elements or adding extra storage space. Major updates already completed include a new roof, furnace, and A/C within the last 3 years. Inside, the home is clean and functional, and you have space to add your own personal touches to make it your own. A little TLC will make this shine.

Key facts

• New siding
• Renovated kitchen
• Replaced roof

Tags

• CORNER LOT
• REMODELED HOME
• NEW SIDING
• NEW WINDOWS
• RENOVATED KITCHEN
• REPLACED ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $-784 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (49.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (56.1% below list).
• Recommended offer: $122k (56.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#280 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Pcm Community School District (rural): math 65% / reading 75% proficiency, ranked #124 of 289 in IA (top 43%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $138k; list at $279k implies a 103% gain — meaningful room to come down on a strong offer.

Recommended offer $122,500 (56.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.44% ✗
• Cap rate: 2.92%
• Cash-on-cash: -12.04%
• DSCR: 0.46
• GRM: 19.0

CMA / ARV

• ARV (on-the-fly): $235,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 W 8th St	0.00mi	4/1.0 (+1)	1,134 (0%)	7mo	$137,500	$121	89
205 W North St	0.10mi	3/2.0	1,132 (-0%)	10mo	$237,500	$210	83
604 N Claire St	0.08mi	3/1.5	1,280 (+13%)	8mo	$235,000	$184	66
106 S East St	0.41mi	3/2.0	1,040 (-8%)	2mo	$245,000	$236	62
803 W James St	0.59mi	3/1.0	1,058 (-7%)	4mo	$219,900	$208	58
306 W South St	0.49mi	3/1.0	1,240 (+9%)	9mo	$182,500	$147	54
103 E South St	0.48mi	2/1.0 (-1)	1,008 (-11%)	4mo	$131,000	$130	51
108 E Steenhoek St Unit A	0.63mi	2/1.5 (-1)	1,080 (-5%)	6mo	$165,000	$153	51
107 W 5th St	0.17mi	2/2.0 (-1)	1,280 (+13%)	14mo	$268,500	$210	49
304 W Mcmurray St	0.52mi	3/2.0	1,044 (-8%)	14mo	$230,000	$220	48
405 S Clark Ave	0.65mi	3/1.5	1,044 (-8%)	9mo	$208,000	$199	47
707 Marshall Ct N	0.69mi	3/2.5	1,288 (+14%)	4mo	$301,000	$234	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: 15.9%
• Equity multiple: 2.30×
• Total profit: $101,942
• Equity at exit: $251,345

10-year hold

• IRR: 15.3%
• Equity multiple: 5.34×
• Total profit: $339,279
• Equity at exit: $542,036

Cash invested: $78,120 (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 50228

• Home prices YoY: 6.9%
• Active inventory: 9
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-784

Break-even live

Break-even rent $2,217

Max offer price $140,543

Occupancy floor —

Sensitivity live

Price	-10% $-626	-5% $-705	+0% $-784	+5% $-863	+10% $-942
Rent	-10% $-881	-5% $-832	+0% $-784	+5% $-735	+10% $-687
Rate	-1.0pp $-643	-0.5pp $-713	base $-784	+0.5pp $-856	+1.0pp $-930

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 W Steenhoek St Prairie City, IA	3.0	1.0	1200	$1,225	$1.02	24d	1	0.62mi

Listing history 24 events

1. 2026-06-19
   days on market $279,000 Active 38 DOM
2. 2026-06-18
   days on market $279,000 Active 37 DOM
3. 2026-06-17
   days on market $279,000 Active 36 DOM
4. 2026-06-16
   days on market $279,000 Active 35 DOM
5. 2026-06-15
   days on market $279,000 Active 34 DOM
6. 2026-06-14
   days on market $279,000 Active 32 DOM
7. 2026-06-12
   days on market $279,000 Active 31 DOM
8. 2026-06-09
   days on market $279,000 Active 28 DOM
9. 2026-06-08
   days on market $279,000 Active 27 DOM
10. 2026-06-07
    days on market $279,000 Active 26 DOM
11. 2026-06-07
    days on market $279,000 Active 25 DOM
12. 2026-06-03
    days on market $279,000 Active 22 DOM
13. 2026-06-02
    days on market $279,000 Active 21 DOM
14. 2026-06-01
    days on market $279,000 Active 20 DOM
15. 2026-05-31
    days on market $279,000 Active 19 DOM
16. 2026-05-30
    days on market $279,000 Active 18 DOM
17. 2026-05-13
    listed $279,000 Active 825-char remark
18. 2025-12-04
    soldstatus $137,500
19. 2025-11-25
    soldstatus $137,500 Closed 538-char remark

    Show marketing remark (538 chars)

    Welcome to this solid 3-bed, 1-bath home, with an additional non-conforming bedroom in the lower level with walk-in closet, sitting on a spacious corner lot with great potential. Enjoy the convenience of a one-car attached garage perfect for avoiding the elements or adding extra storage space. Major updates already completed include a new roof, furnace, and A/C within the last 3 years. Inside, the home is clean and functional, and you have space to add your own personal touches to make it your own. A little TLC will make this shine.

20. 2025-10-30
    status Pending 538-char remark

    Show marketing remark (538 chars)

    Welcome to this solid 3-bed, 1-bath home, with an additional non-conforming bedroom in the lower level with walk-in closet, sitting on a spacious corner lot with great potential. Enjoy the convenience of a one-car attached garage perfect for avoiding the elements or adding extra storage space. Major updates already completed include a new roof, furnace, and A/C within the last 3 years. Inside, the home is clean and functional, and you have space to add your own personal touches to make it your own. A little TLC will make this shine.

21. 2025-10-08
    listed $155,000 Active 538-char remark

    Show marketing remark (538 chars)

    Welcome to this solid 3-bed, 1-bath home, with an additional non-conforming bedroom in the lower level with walk-in closet, sitting on a spacious corner lot with great potential. Enjoy the convenience of a one-car attached garage perfect for avoiding the elements or adding extra storage space. Major updates already completed include a new roof, furnace, and A/C within the last 3 years. Inside, the home is clean and functional, and you have space to add your own personal touches to make it your own. A little TLC will make this shine.

22. 2009-06-23
    soldstatus $85,500

    Show marketing remark (309 chars)

    Small town living only 10 minutes East of Des Moines off Highway 163. Three bedroom ranch on corner lot. One car attached garage with room to expand to two car or cement pad for RV. Open front porch. Oak floors in three bedrooms and updated carpet in livingroom and diningroom. Sold as Is. Price reduced 3/309

23. 2009-06-20
    soldstatus $85,500
24. 2009-01-09
    listed $82,000

    Show marketing remark (309 chars)

    Small town living only 10 minutes East of Des Moines off Highway 163. Three bedroom ranch on corner lot. One car attached garage with room to expand to two car or cement pad for RV. Open front porch. Oak floors in three bedrooms and updated carpet in livingroom and diningroom. Sold as Is. Price reduced 3/309

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $3,223 · $269/mo
• Expected delta: +$1,157/yr (+$96/mo · 56.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $14,700
• − Mortgage interest: −$15,628
• − Property taxes: −$2,066
• − Insurance: −$1,395
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$8,116
• Taxable loss: −$14,858
• Est. tax savings @ 24.0%: +$3,566
• After-tax cash flow: $-5,839/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: Pcm Community School District
• NCES district ID: 1999017
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 75% ▲ 2.00%
• Median HH income: $60,380
• Composite: 60.32/100
• National rank: #851
• State rank: #124 of 289 in IA

Livability — Prairie City

• Score: 73/100
• State rank: #280
• US rank: #5388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prairie City, IA
• Population (ZIP): 2,345

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Iranian 18% Portuguese 7% Italian 6%
• Foreign-born: 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: ▲ 18.25%
• Current HPI: 283.118
• 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

+240.2% since first listed

8 events — show timeline

• 2026-05-13 Listed $279,000 FSBO.com
• 2025-12-04 Sold (Public Records) $137,500 Public Records
• 2025-11-25 Sold (MLS) $137,500 DMMLS
• 2025-10-30 Pending — DMMLS
• 2025-10-08 Listed $155,000 DMMLS
• 2009-06-23 Sold (MLS) $85,500 DMMLS
• 2009-06-20 Sold (Public Records) $85,500 Public Records
• 2009-01-09 Listed $82,000 DMMLS

Property tax history

+2.8%/yr

Latest (2025): $2,066 · -0.1% YoY. Source: county tax records.