201 Franklin Main St · Franklin, IA 52656

$172,500

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 1 Days on market

Built 1978

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Why this score? — see what drove the C+ 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 +22.2/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Schools +6.1/10.0
• 1% rule +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

House for sale. Small town living at its best. Central Lee School District. 3 bedrooms, 1 bathroom, 2 car detached garage, and storage shed. All remodeled, new flooring, new paint, and updated electrical. All new appliances with washer and dryer on the main floor. Onyx walk in shower. Nice poured basement with nonconforming bedroom. Nice corner lot. 201 Franklin Main St West Point, IA Call 319-470-0020 Asking $172,500

Key facts

• Remodeled
• Updated electrical
• Onyx walk in shower

Tags

• REMODELED
• NEW FLOORING
• NEW PAINT
• UPDATED ELECTRICAL
• NEW APPLIANCES
• ONYX WALK IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).

Location & tenants

• Location reads 70/100 on livability (#365 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, health & safety C-, amenities F.
• Central Lee Community School District (rural): math 69% / reading 75% proficiency, ranked #107 of 289 in IA (top 37%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Central Lee Elementary School (math 67% / reading 69%, grade B+, #267 of 616 statewide, top 44%, 657 students, 35% FRL); Central Lee Middle School (math 75% / reading 78%, grade A, #57 of 246 statewide, top 23%, 267 students, 45% FRL); Central Lee High School (math 64% / reading 79%, grade B+, #134 of 336 statewide, top 41%, 326 students, 35% FRL).
• Market conditions: 6 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $10k appreciation (6.1% local appreciation)).
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k 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.

Recommended offer $172,500

Questions for the listing agent

1. Built in 1978 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.02% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $67,716
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Franklin Main St	0.04mi	3/1.0	1,150 (-3%)	14mo	$65,000	$57	81

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.42×
• Total profit: $68,428
• Equity at exit: $109,313

10-year hold

• IRR: 20.3%
• Equity multiple: 4.87×
• Total profit: $187,055
• Equity at exit: $198,990

Cash invested: $48,300 (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 52656

• Home prices YoY: 3.3%
• Active inventory: 6
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,760 medium
• Mortgage (P&I): −$905
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $280

Break-even live

Break-even rent $1,406

Max offer price $172,500

Occupancy floor 79%

Sensitivity live

Price	-10% $378	-5% $329	+0% $280	+5% $231	+10% $182
Rent	-10% $141	-5% $210	+0% $280	+5% $349	+10% $419
Rate	-1.0pp $367	-0.5pp $324	base $280	+0.5pp $235	+1.0pp $190

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: $43,125
• Closing costs: $5,175
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $172,500 Active

ⓘ 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: $1,612 · $134/mo
• Projected year-2 tax: $2,160 · $180/mo
• Expected delta: +$548/yr (+$46/mo · 34.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 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: $21,125
• − Mortgage interest: −$9,663
• − Property taxes: −$1,612
• − Insurance: −$862
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$5,018
• Taxable income: $590
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $3,217/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: Central Lee Community School District
• NCES district ID: 1906930
• Math proficiency: 69% ▼ -2.00%
• Reading proficiency: 75% ▲ 1.00%
• Median HH income: $52,091
• Composite: 61.21/100
• National rank: #781
• State rank: #107 of 289 in IA

Livability — Franklin

• Score: 70/100
• State rank: #365
• US rank: #7612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, IA
• Population (ZIP): 2,099

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 0% · South Korea
• Languages at home: 99% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.08%
• Current HPI: 190.2373
• 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

2 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $172,500 FSBO.com

Property tax history

+3.7%/yr

Latest (2025): $1,612 · +0.0% YoY. Source: county tax records.