204 N Bureau St · Creston, IA 50801

$77,500

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records

Built 1955 Est $123k · 37% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Cap rate 11.6% vs local median 5.0% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 77 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $536 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $67k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,500

Questions for the listing agent

1. Built in 1955 — 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 B-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?
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: 1.45% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.97%
• DSCR: 1.84
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $122,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 W Montgomery St	0.28mi	2/1.0 (-1)	1,018 (-2%)	2mo	$181,500	$178	76
1206 W Adair St	0.08mi	3/3.0	960 (-8%)	1mo	$235,000	$245	75
103 N Sumner Ave	0.34mi	2/— (-1)	1,146 (+10%)	2mo	$11,000	$10	60
203 N Jarvis St	0.41mi	2/2.0 (-1)	1,084 (+4%)	9mo	$128,000	$118	58
307 N Spruce St	0.49mi	2/1.0 (-1)	972 (-6%)	9mo	$30,000	$31	54
203 Russell St	0.43mi	3/2.0	1,144 (+10%)	7mo	$140,000	$122	54
303 W Mills St	0.74mi	2/1.0 (-1)	997 (-4%)	1mo	$60,000	$60	53
411 New York Ave	0.63mi	2/1.0 (-1)	1,085 (+4%)	7mo	$57,000	$53	52
500 Levy St	0.70mi	3/1.0	960 (-8%)	4mo	$78,000	$81	52
103 N Sycamore St	0.56mi	2/1.0 (-1)	960 (-8%)	8mo	$120,000	$125	50
803 W Prairie St	0.69mi	3/1.5	1,152 (+11%)	7mo	$181,600	$158	42
902 N Spruce St	0.69mi	3/2.0	1,185 (+14%)	6mo	$128,000	$108	35

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: 10.8%
• Equity multiple: 1.43×
• Total profit: $9,312
• Equity at exit: $11,556

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $36,337
• Equity at exit: $6,701

Cash invested: $21,700 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 77
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,127 medium
• Mortgage (P&I): −$406
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $343

Break-even live

Break-even rent $693

Max offer price $77,500

Occupancy floor 65%

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-06-18
   listed $77,500 Pending

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,304 · $109/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,525
• − Mortgage interest: −$4,341
• − Property taxes: −$1,304
• − Insurance: −$388
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$2,255
• Taxable income: $3,074
• Est. tax owed @ 24.0%: −$738
• After-tax cash flow: $3,378/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

+15.8% since first listed

3 events — show timeline

• 2026-06-18 Listing Removed — DMMLS
• 2026-06-16 Listed $77,500 DMMLS
• 2015-09-22 Sold (Public Records) $66,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,304 · -19.8% YoY. Source: county tax records.