103 W Sherrie Ln · New London, IA 52645

$67,517

4 bd · 2.5 ba · 1,730 sqft · SingleFamily public records · 55 Days on market

Built 1979 7,405 sqft lot $39/sqft · 71% below area ↓ 20% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Take a look at this 3 bedroom home with an attached garage, fenced back yard and deck. Call for your showing today! This is a USDA property sold as "As-Is, Where-Is". Title will only be conveyed by Quitclaim Deed.

Key facts

• Fenced back yard
• Attached garage
• Deck

Tags

• ATTACHED GARAGE
• FENCED BACK YARD
• DECK

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Lot roughly 0.17 acres (approx. 60 x 123)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#188 in IA, #3,417 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• New London Community School District (rural): math 63% / reading 68% proficiency, ranked #194 of 289 in IA (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clark Elementary School (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 289 students, 39% FRL); New London Jr-Sr High School (math 63% / reading 72%, grade B, #186 of 336 statewide, top 57%, 303 students, 40% FRL).
• Market conditions: 13 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (2.5% local appreciation)).
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price.

Recommended offer $65,491 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.86% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.72%
• DSCR: 2.01
• GRM: 4.5

CMA / ARV

• ARV (median comp): $143,260
• List price: $67,517
• Delta: -52.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 W Adams St	0.64mi	5/3.0 (+1)	1,746 (+1%)	19mo	$378,000	$216	46
501 Sunset	0.72mi	3/2.0 (-1)	1,672 (-3%)	15mo	$384,130	$230	41
106 E Wilson St	0.52mi	3/2.0 (-1)	1,560 (-10%)	14mo	$116,000	$74	40
501 W Adams St	0.64mi	5/3.0 (+1)	1,836 (+6%)	22mo	$355,000	$193	34
106 Hickory Cir. Cir	0.75mi	3/2.5 (-1)	1,640 (-5%)	22mo	$357,900	$218	33

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

Projected returns pro-forma

2.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 2.54×
• Total profit: $29,142
• Equity at exit: $28,331

10-year hold

• IRR: 29.1%
• Equity multiple: 4.94×
• Total profit: $74,402
• Equity at exit: $42,146

Cash invested: $18,905 (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 52645

• Home prices YoY: 1.3%
• Active inventory: 13
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $358

Break-even live

Break-even rent $804

Max offer price $67,517

Occupancy floor 67%

Sensitivity live

Price	-10% $396	-5% $377	+0% $358	+5% $339	+10% $320
Rent	-10% $259	-5% $308	+0% $358	+5% $407	+10% $457
Rate	-1.0pp $392	-0.5pp $375	base $358	+0.5pp $340	+1.0pp $323

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: $16,879
• Closing costs: $2,026
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $67,517 Active 55 DOM
2. 2026-06-21
   days on market $67,517 Active 54 DOM
3. 2026-06-18
   days on market $67,517 Active 52 DOM
4. 2026-06-17
   days on market $67,517 Active 51 DOM
5. 2026-06-16
   days on market $67,517 Active 50 DOM
6. 2026-06-15
   days on market $67,517 Active 49 DOM
7. 2026-06-13
   days on market $67,517 Active 47 DOM
8. 2026-06-12
   days on market $67,517 Active 46 DOM
9. 2026-06-09
   days on market $67,517 Active 43 DOM
10. 2026-06-08
    days on market $67,517 Active 42 DOM
11. 2026-06-07
    days on market $67,517 Active 41 DOM
12. 2026-06-05
    days on market $67,517 Active 39 DOM
13. 2026-06-04
    days on market $67,517 Active 37 DOM
14. 2026-06-02
    days on market $67,517 Active 36 DOM
15. 2026-06-01
    days on market $67,517 Active 35 DOM
16. 2026-05-31
    days on market $67,517 Active 34 DOM
17. 2026-05-31
    days on market $67,517 Active 33 DOM
18. 2026-04-27
    listed $71,070 Active 223-char remark
19. 2021-07-24
    listed $103,000
20. 2020-11-23
    listed $119,000
21. 2020-06-05
    listed $128,000
22. 2007-01-12
    soldstatus $84,000

ⓘ 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: $3,032 · $253/mo
• Projected year-2 tax: $3,032 · $253/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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,079
• − Mortgage interest: −$3,782
• − Property taxes: −$3,032
• − Insurance: −$338
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$1,964
• Taxable income: $3,551
• Est. tax owed @ 24.0%: −$852
• After-tax cash flow: $3,442/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: New London Community School District
• NCES district ID: 1920460
• Math proficiency: 63% ▲ 2.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $46,710
• Composite: 55.31/100
• National rank: #1260
• State rank: #194 of 289 in IA

Livability — New London

• Score: 76/100
• State rank: #188
• US rank: #3417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, IA
• Population (ZIP): 3,472

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 5% Iranian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.46%
• Current HPI: 197.8445
• 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

-19.6% since first listed

6 events — show timeline

• 2026-05-27 Price Changed $67,517 IAR
• 2026-04-27 Listed $71,070 IAR
• 2021-07-24 Listed $103,000 IAR
• 2020-11-23 Listed $119,000 IAR
• 2020-06-05 Listed $128,000 IAR
• 2007-01-12 Sold (Public Records) $84,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,032 · +5.4% YoY. Source: county tax records.