104 6th Ave · Sully, IA 50251

$60,000

3 bd · 1.5 ba · 746 sqft · SingleFamily public records · 1 Days on market

Built 1935 4,356 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this 2-bedroom, 1-bath home located in the charming community of Sully. Offering 746 square feet of living space, this property presents a great opportunity for investors, first-time buyers, or anyone looking for their next project. Inside, you’ll find hardwood flooring, abundant natural lighting, and plenty of potential to make the space your own. The home also features an unfinished basement with a laundry area for additional storage and functionality. Outside, enjoy the convenience of a 1-car detached garage providing off-street parking. Affordable and full of possibilities, this property is being sold AS-IS. Don’t miss your chance to add your personal touch and bu

Key facts

• Hardwood flooring
• Natural lighting
• Laundry area

Tags

• HARDWOOD FLOORING
• NATURAL LIGHTING
• UNFINISHED BASEMENT
• LAUNDRY AREA
• DETACHED GARAGE
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story property; Zoned residential
• Construction: Asbestos construction material; Asphalt shingle roof; Block foundation
• Exterior features: Rectangular lot; Asphalt road access

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Gas heating (natural gas)
• Interior features: One-level living
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($967 rent vs $60k).

Location & tenants

• Location reads 72/100 on livability (#306 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lynnville-Sully Community School District (rural): math 80% / reading 78% proficiency, ranked #33 of 289 in IA (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 10 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $29k; list at $60k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1935 — 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 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?
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: 1.61% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.52%
• DSCR: 2.22
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.1%
• Equity multiple: 4.41×
• Total profit: $57,204
• Equity at exit: $54,053

10-year hold

• IRR: 39.1%
• Equity multiple: 9.88×
• Total profit: $149,149
• Equity at exit: $116,567

Cash invested: $16,800 (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 50251

• Home prices YoY: 31.8%
• Active inventory: 10
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $967 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$39 /mo · $468/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $385

Break-even live

Break-even rent $479

Max offer price $60,000

Occupancy floor 55%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-22
   status Pending
2. 2026-05-21
   listed $60,000 Active
3. 2011-07-01
   historical
4. 2010-07-31
   listed $37,900
5. 2005-10-06
   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: $468 · $39/mo
• Projected year-2 tax: $705 · $59/mo
• Expected delta: +$237/yr (+$20/mo · 50.6%)

ⓘ 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 ≥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: $11,603
• − Mortgage interest: −$3,361
• − Property taxes: −$468
• − Insurance: −$300
• − Repairs & maintenance: −$928
• − Management: −$928
• − Depreciation: −$1,745
• Taxable income: $3,872
• Est. tax owed @ 24.0%: −$929
• After-tax cash flow: $3,693/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: Lynnville-Sully Community School District
• NCES district ID: 1918030
• Math proficiency: 80% ▼ -5.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $58,938
• Composite: 67.7/100
• National rank: #365
• State rank: #33 of 289 in IA

Livability — Sully

• Score: 72/100
• State rank: #306
• US rank: #5945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sully, IA
• Population (ZIP): 1,481

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 (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Iranian 48% Lithuanian 2% Portuguese 1%
• 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: ▲ 91.31%
• Current HPI: 378.7456
• 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

+106.9% since first listed

5 events — show timeline

• 2026-05-22 Pending — DMMLS
• 2026-05-21 Listed $60,000 DMMLS
• 2011-07-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-31 Listed $37,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-06 Sold (Public Records) $29,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $468 · -3.3% YoY. Source: county tax records.