Real Estate Investing in Griswold, Iowa (51535)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 51535 (Griswold, IA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.9% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Griswold, IA (51535)?
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Market Analysis: 51535 Griswold
ZIP 51535 in Griswold, IA carries a significant set of headwinds. Home values near $199K and rents of $918/mo sit inside a market where underwriting has to be tight.
From a cash-flow lens, the numbers look inviting — $199K purchase price, 0.0% nominal cap — the work to hit that pro forma in 51535 is substantial and deserves full respect.
The gap between 51535 and stronger Griswold ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 51535 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 51535 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Griswold:
Property Strategy for 51535
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $128,224 | $1,020 | 5.7% | +8.2% | $64,112 |
| 3BR | $188,278 | $1,400 | 5.4% | +8.5% | $62,759 |
| 4BR | $270,069 | $1,630 | 4.3% | +10.0% | $67,517 |
Market Trends
Home Value History (with trend line)
📊 How Does 51535 Compare?
| Metric | 51535 | Griswold | Iowa |
|---|---|---|---|
| Home Value | $199,450 | $199,450 | $227,232 |
| 5-Year CAGR | 9.6% | 9.6% | 6.0% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 51535 (Griswold, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $199,450 |
| Monthly Rent | $918 |
| Price-to-Rent | 18.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 13.2% |
📈 Home Appreciation
| 1-Year | +14.6% ▲ |
| 3-Year CAGR | +9.6% ▲ |
| 5-Year CAGR | +9.6% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 51535
Population: 1,768
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 51535
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is Griswold, IA a good place for real estate investing?
Yes - Griswold, IA a 3.0/5 investability score. With $199K home prices against $918/mo monthly rent, the market delivers a reasonable entry point for new investors.
Should investors worry about vacancy in Griswold, IA?
Griswold, IA sees elevated vacancy, which is reasonable relative to the broader IA rental market.
How strong are rents in Griswold, IA?
Investors in Griswold, IA typically see rents near $918/mo per month against $199K home values - a solid setup for rental cash flow.
What is it like being a landlord in Griswold, IA?
IA ranks as a landlord-friendly state for landlord-tenant law. Griswold generally follows the statewide framework, so landlords face reasonable operating rules.
How much should I expect to pay for a home in Griswold, IA?
Typical homes in Griswold, IA go for around $199K. The 5-year CAGR of 0.0% even-keeled price movement.
You know 51535 now. You don’t know where it ranks.
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