220 Sunset Ct · Chelsea, IA 52215

$52,000

3 bd · 2.0 ba · 1,824 sqft · SingleFamily public records · 60 Days on market

Built 2002 0.37 ac lot $29/sqft · 32% below area Est $77k · 32% under

---

Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.7/10.0
• Schools +4.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

One story 2002 built 3 bedroom, 2 bath property with an attached 2 car garage. property has city water and a septic system hooked to the city sewer system. There is a backyard 10 x 20 concrete patio. Property has no basement. Property may be subject to a 3 day First Look Period after which the seller review all offers. Ask your agent about earnest money requirements if submitting any offer on this property. All information believed accurate but not guaranteed.

Key facts

• Concrete patio
• Septic system
• 0.37 acre lot

Tags

• SEPTIC SYSTEM
• CONCRETE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $50k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#943 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D, schools F, amenities F.
• South Tama County (town): math 44% / reading 50% proficiency, ranked #287 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($360 loan paydown + $4k appreciation (7.4% local appreciation)).
• Tama County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, 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 60 days — a 3% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $101k (66%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $50,440 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.32% ✓
• Cap rate: 18.34%
• Cash-on-cash: 43.03%
• DSCR: 2.91
• GRM: 3.6

CMA / ARV

• ARV (median comp): $76,570
• List price: $52,000
• Delta: -32.09%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

7.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.4%
• Equity multiple: 4.63×
• Total profit: $52,842
• Equity at exit: $37,491

10-year hold

• IRR: 50.0%
• Equity multiple: 9.84×
• Total profit: $128,737
• Equity at exit: $72,576

Cash invested: $14,560 (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 52215

• Home prices YoY: 4.0%
• Active inventory: 3
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$273
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $522

Break-even live

Break-even rent $544

Max offer price $52,000

Occupancy floor 52%

Sensitivity live

Price	-10% $552	-5% $537	+0% $522	+5% $507	+10% $493
Rent	-10% $427	-5% $474	+0% $522	+5% $570	+10% $617
Rate	-1.0pp $548	-0.5pp $535	base $522	+0.5pp $509	+1.0pp $495

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $52,000 Active 60 DOM
2. 2026-06-18
   days on market $52,000 Active 59 DOM
3. 2026-06-17
   days on market $52,000 Active 58 DOM
4. 2026-06-16
   days on market $52,000 Active 57 DOM
5. 2026-06-16
   price $52,000 Active 56 DOM
6. 2026-06-15
   days on market $145,350 Active 56 DOM
7. 2026-06-14
   days on market $145,350 Active 54 DOM
8. 2026-06-12
   days on market $145,350 Active 53 DOM
9. 2026-06-09
   days on market $145,350 Active 50 DOM
10. 2026-06-08
    days on market $145,350 Active 49 DOM
11. 2026-06-07
    days on market $145,350 Active 48 DOM
12. 2026-06-05
    days on market $145,350 Active 45 DOM
13. 2026-06-03
    days on market $145,350 Active 44 DOM
14. 2026-06-02
    days on market $145,350 Active 43 DOM
15. 2026-06-01
    days on market $145,350 Active 42 DOM
16. 2026-05-31
    days on market $145,350 Active 41 DOM
17. 2026-05-30
    days on market $145,350 Active 40 DOM
18. 2026-04-20
    listed $153,000 Active 464-char remark

    Show marketing remark (423 chars)

    One story 2002 built 3 bedroom, 2 bath property with an attached 2 car garage. property has city water and a septic system hooked to the city sewer system. There is a backyard 10 x 20 concrete patio. Property has no basement. Property may be subject to a 3 day First Look Period. Ask your agent about earnest money requirements if submitting any offer on this property. All information believed accurate but not guaranteed.

19. 2026-04-20
    listed $153,000 Active 423-char remark

    Show marketing remark (423 chars)

    One story 2002 built 3 bedroom, 2 bath property with an attached 2 car garage. property has city water and a septic system hooked to the city sewer system. There is a backyard 10 x 20 concrete patio. Property has no basement. Property may be subject to a 3 day First Look Period. Ask your agent about earnest money requirements if submitting any offer on this property. All information believed accurate but not guaranteed.

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $1,628 · $136/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 4/10 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: $14,463
• − Mortgage interest: −$2,913
• − Property taxes: −$1,628
• − Insurance: −$260
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$1,513
• Taxable income: $5,835
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $4,865/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: South Tama County
• NCES district ID: 1926730
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $46,147
• Composite: 39.91/100
• National rank: #3853
• State rank: #287 of 289 in IA

Livability — Chelsea

• Score: 54/100
• State rank: #943
• US rank: #24204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chelsea, IA
• Population (ZIP): 819

Population outlook (Tama County) Hauer SSP2

• Today (2025): 16,690 people
• By 2030: 16,217 · -2.8%
• By 2040: 15,207 · -8.9%
• By 2050: 14,186 · -15.0%
• By 2075: 12,228 · -26.7%
• By 2100: 10,386 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 7%
• Common ancestry: Portuguese 3% Iranian 3% Scotch-Irish 1%
• Foreign-born: 10% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Tama

• 2024 margin: Strong R (+26.9) · D 35.7% · R 62.6% · Other 1.7%
• 2008→2024 swing: -39.1pp toward R · 2008: 12.2pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+19.1 2016: R+20.6 2012: D+7.4 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.42%
• Current HPI: 193.5164
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-20 Listed $153,000 CRAAR, CDRMLS
• 2026-04-20 Listed $153,000 NEIRBR as distributed by MLS GRID

Property tax history

-2.3%/yr

Latest (2025): $1,628 · -12.1% YoY. Source: county tax records.