1323 Fulton Sts · Keokuk, IA 52632

$84,000

4 bd · 1.5 ba · 1,921 sqft · SingleFamily public records · 126 Days on market

Built 1870 7,000 sqft lot $44/sqft · 26% below area Est $114k · 26% under

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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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +8.5/10.0
• Schools +4.2/10.0
• 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

Welcome to this charming 4-bedroom, 2.5-bath fixer-upper home in a quiet neighborhood in Keokuk, IA. This cozy, inviting home features a spacious main level with ample family room space, a full bathroom, beautiful hardwood features, and an upstairs with 4 nice-sized bedrooms. This property, with a little love and care, could make a great family home or a potential investment property. so whether you are a first-time homebuyer or investor, or look for a quiet community close to local schools and stores, this property is a must-see!

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1870

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 8.2% in Keokuk — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $30k; list at $84k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.35% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 6.2

CMA / ARV

• ARV (median comp): $113,848
• List price: $84,000
• Delta: -26.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Leighton St	0.37mi	4/1.5	1,982 (+3%)	2mo	$172,500	$87	76
1002 Orleans Ave	0.27mi	3/2.5 (-1)	1,856 (-3%)	6mo	$133,000	$72	67
1004 & 1008 High St S	0.30mi	4/1.5	2,120 (+10%)	4mo	$50,000	$24	66
1821 Johnson St	0.54mi	4/2.0	1,960 (+2%)	7mo	$24,000	$12	64
1613 Des Moines St	0.73mi	4/1.0	1,899 (-1%)	5mo	$17,500	$9	58
906 Morgan St	0.32mi	4/2.0	1,664 (-13%)	5mo	$32,000	$19	57
1322 Blondeau St	0.31mi	3/2.0 (-1)	1,648 (-14%)	1mo	$169,000	$103	54
1228 Grand Ave	0.37mi	3/2.5 (-1)	2,138 (+11%)	1mo	$215,000	$101	54
1818 Grand Ave	0.55mi	3/2.0 (-1)	1,775 (-8%)	2mo	$192,000	$108	53
2210 Grand Ave	0.72mi	3/2.5 (-1)	1,827 (-5%)	1mo	$234,900	$129	48
825 Bank St	0.66mi	4/1.5	1,640 (-15%)	3mo	$134,000	$82	42
1409 Des Moines St	0.70mi	4/2.5	1,708 (-11%)	4mo	$85,000	$50	42

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,344
• Equity at exit: $12,525

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $14,885
• Equity at exit: $7,263

Cash invested: $23,520 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,133 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$173 /mo · $2,076/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $191

Break-even live

Break-even rent $891

Max offer price $84,000

Occupancy floor 78%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $84,000 Active 126 DOM
2. 2026-06-17
   days on market $84,000 Active 125 DOM
3. 2026-06-16
   days on market $84,000 Active 124 DOM
4. 2026-06-15
   days on market $84,000 Active 123 DOM
5. 2026-06-13
   days on market $84,000 Active 121 DOM
6. 2026-06-12
   days on market $84,000 Active 120 DOM
7. 2026-06-09
   days on market $84,000 Active 117 DOM
8. 2026-06-08
   days on market $84,000 Active 116 DOM
9. 2026-06-07
   days on market $84,000 Active 115 DOM
10. 2026-06-07
    days on market $84,000 Active 114 DOM
11. 2026-06-04
    days on market $84,000 Active 111 DOM
12. 2026-06-02
    days on market $84,000 Active 110 DOM
13. 2026-06-01
    days on market $84,000 Active 109 DOM
14. 2026-05-31
    days on market $84,000 Active 108 DOM
15. 2026-05-31
    days on market $84,000 Active 107 DOM
16. 2026-04-08
    price $84,000 536-char remark

    Show marketing remark (536 chars)

    Welcome to this charming 4-bedroom, 2.5-bath fixer-upper home in a quiet neighborhood in Keokuk, IA. This cozy, inviting home features a spacious main level with ample family room space, a full bathroom, beautiful hardwood features, and an upstairs with 4 nice-sized bedrooms. This property, with a little love and care, could make a great family home or a potential investment property. so whether you are a first-time homebuyer or investor, or look for a quiet community close to local schools and stores, this property is a must-see!

17. 2026-02-12
    listed $87,000 Active 536-char remark

    Show marketing remark (536 chars)

    Welcome to this charming 4-bedroom, 2.5-bath fixer-upper home in a quiet neighborhood in Keokuk, IA. This cozy, inviting home features a spacious main level with ample family room space, a full bathroom, beautiful hardwood features, and an upstairs with 4 nice-sized bedrooms. This property, with a little love and care, could make a great family home or a potential investment property. so whether you are a first-time homebuyer or investor, or look for a quiet community close to local schools and stores, this property is a must-see!

18. 2023-03-06
    soldstatus $29,695 Closed 133-char remark

    Show marketing remark (133 chars)

    This 1921 square foot single family home has 4 bedrooms and 2.25 bathrooms. This home is located at 1323 Fulton St, Keokuk, IA 52632.

19. 2023-01-05
    status Pending 133-char remark

    Show marketing remark (133 chars)

    This 1921 square foot single family home has 4 bedrooms and 2.25 bathrooms. This home is located at 1323 Fulton St, Keokuk, IA 52632.

20. 2022-12-15
    listed $29,695 Active 133-char remark

    Show marketing remark (133 chars)

    This 1921 square foot single family home has 4 bedrooms and 2.25 bathrooms. This home is located at 1323 Fulton St, Keokuk, IA 52632.

21. 2010-10-26
    soldstatus $62,500

ⓘ 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: $2,076 · $173/mo
• Projected year-2 tax: $2,076 · $173/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $13,598
• − Mortgage interest: −$4,705
• − Property taxes: −$2,076
• − Insurance: −$1,086
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − Depreciation: −$2,444
• Taxable income: $1,111
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $2,027/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · 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: ▼ -41.80%
• Current HPI: 122.2866
• 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

+34.4% since first listed

6 events — show timeline

• 2026-04-08 Price Changed $84,000 IAR
• 2026-02-12 Listed $87,000 IAR
• 2023-03-06 Sold (MLS) $29,695 IAR
• 2023-01-05 Pending — IAR
• 2022-12-15 Listed $29,695 IAR
• 2010-10-26 Sold (Public Records) $62,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,076 · +5.2% YoY. Source: county tax records.