912 River St · Iowa Falls, IA 50126

$89,000

2 bd · 1.0 ba · 2,256 sqft · SingleFamily public records · 82 Days on market

Built 1918 8,712 sqft lot $39/sqft · 36% below area Est $103k · 14% under

---

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 +26.7/30.0
• ARV discount +13.6/15.0
• DSCR +9.2/10.0
• 1% rule +7.1/10.0
• Schools +5.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own? This affordable 4-bedroom home offers space, functionality, and incredible value. With generous bedroom sizes, a practical layout, and room to grow, this home is perfect for anyone needing extra space without stretching the budget. Enjoy a comfortable living area, abundant natural light, and upstairs and main level bath, and a yard ready for summer evenings. Affordable, move-in ready, and full of potential — don’t miss this opportunity. Schedule your showing today!

Key facts

• 8,712 sq ft lot
• Built 1918
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.8% in Iowa Falls — 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 77/100 on livability (#172 in IA, #3,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Iowa Falls Community School District (town): math 62% / reading 71% proficiency, ranked #184 of 289 in IA (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 90 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $89k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.21% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.58%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

• ARV (median comp): $102,982
• List price: $89,000
• Delta: -13.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 Elm	0.41mi	2/2.0	2,288 (+1%)	14mo	$152,000	$66	63
112 Mildred Ave	0.35mi	3/1.5 (+1)	2,170 (-4%)	12mo	$157,500	$73	60
216 Washington Ave	0.55mi	3/2.0 (+1)	2,284 (+1%)	13mo	$163,900	$72	52
452 Lincoln Ave	0.44mi	3/2.0 (+1)	2,480 (+10%)	7mo	$180,500	$73	48
420 School St	0.49mi	3/3.0 (+1)	2,117 (-6%)	12mo	$237,000	$112	44
500 Lincoln Ave	0.45mi	3/3.0 (+1)	2,096 (-7%)	19mo	$475,000	$227	38

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $906
• Equity at exit: $13,270

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $20,558
• Equity at exit: $7,695

Cash invested: $24,920 (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 50126

• Active inventory: 90
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $240

Break-even live

Break-even rent $769

Max offer price $89,000

Occupancy floor 73%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-13
   status Pending 508-char remark

   Show marketing remark (508 chars)

   Why rent when you can own? This affordable 4-bedroom home offers space, functionality, and incredible value. With generous bedroom sizes, a practical layout, and room to grow, this home is perfect for anyone needing extra space without stretching the budget. Enjoy a comfortable living area, abundant natural light, and upstairs and main level bath, and a yard ready for summer evenings. Affordable, move-in ready, and full of potential — don’t miss this opportunity. Schedule your showing today!

2. 2026-03-21
   price $89,000 508-char remark

   Show marketing remark (508 chars)

   Why rent when you can own? This affordable 4-bedroom home offers space, functionality, and incredible value. With generous bedroom sizes, a practical layout, and room to grow, this home is perfect for anyone needing extra space without stretching the budget. Enjoy a comfortable living area, abundant natural light, and upstairs and main level bath, and a yard ready for summer evenings. Affordable, move-in ready, and full of potential — don’t miss this opportunity. Schedule your showing today!

3. 2026-02-18
   listed $98,000 Active 508-char remark

   Show marketing remark (508 chars)

   Why rent when you can own? This affordable 4-bedroom home offers space, functionality, and incredible value. With generous bedroom sizes, a practical layout, and room to grow, this home is perfect for anyone needing extra space without stretching the budget. Enjoy a comfortable living area, abundant natural light, and upstairs and main level bath, and a yard ready for summer evenings. Affordable, move-in ready, and full of potential — don’t miss this opportunity. Schedule your showing today!

4. 2024-04-08
   historical
5. 2024-03-21
   listed
6. 2013-05-03
   soldstatus $29,000

ⓘ 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: $1,248 · $104/mo
• Projected year-2 tax: $1,323 · $110/mo
• Expected delta: +$75/yr (+$6/mo · 6.0%)

ⓘ 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 ≥101°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: $12,885
• − Mortgage interest: −$4,985
• − Property taxes: −$1,248
• − Insurance: −$445
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,589
• Taxable income: $1,556
• Est. tax owed @ 24.0%: −$373
• After-tax cash flow: $2,512/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: Iowa Falls Community School District
• NCES district ID: 1914730
• Math proficiency: 62% ▼ -9.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $46,696
• Composite: 56.12/100
• National rank: #1182
• State rank: #184 of 289 in IA

Livability — Iowa Falls

• Score: 77/100
• State rank: #172
• US rank: #3097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Falls, IA
• City population: 6,362
• Population (ZIP): 6,362

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.54%
• Current HPI: 146.3741
• 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

+206.9% since first listed

6 events — show timeline

• 2026-05-13 Pending — IAR
• 2026-03-21 Price Changed $89,000 IAR
• 2026-02-18 Listed $98,000 IAR
• 2024-04-08 Rental Removed — RENT.
• 2024-03-21 Listed for Rent — RENT.
• 2013-05-03 Sold (Public Records) $29,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,248 · +4.9% YoY. Source: county tax records.