215 NW 1st St · Gilmore City, IA 50541

$54,900

2 bd · 1.0 ba · 1,794 sqft · SingleFamily public records · 4 Days on market

Built 1920 7,100 sqft lot

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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 +5.0/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Big-ticket updates are already done--new windows, new roof, updated water and sewer lines, and a brand-new basement bathroom in 2025. The basement gives you extra living space, tons of storage, and a nonconforming third bedroom for added flexibility. The detached two-stall garage adds even more room for storage or hobbies. Clean, practical, and ready to go--this is a solid option if you're looking for an affordable home with the major updates completed.

Key facts

• Extra living space
• Tons of storage
• New roof

Tags

• NEW WINDOWS
• NEW ROOF
• UPDATED WATER AND SEWER LINES
• NEW BASEMENT BATHROOM
• EXTRA LIVING SPACE
• TONS OF STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).

Location & tenants

• Location reads 69/100 on livability (#399 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, amenities F, commute F.
• Gilmore City-Bradgate Community School District (rural): math 50% / reading 50% proficiency, ranked #325 of 330 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gilmore City Elementary School (math 54% / reading 24%, grade F, #579 of 616 statewide, top 95%, 87 students, 68% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 1 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,900

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.92% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.87%
• DSCR: 2.68
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $143,520
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 NW 1st St St	0.10mi	3/1.5 (+1)	1,586 (-12%)	15mo	$127,500	$80	57
110 SW A Ave Ave	0.24mi	3/1.5 (+1)	1,866 (+4%)	24mo	$31,900	$17	55

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: 43.4%
• Equity multiple: 3.44×
• Total profit: $37,503
• Equity at exit: $24,685

10-year hold

• IRR: 43.2%
• Equity multiple: 6.87×
• Total profit: $90,213
• Equity at exit: $38,043

Cash invested: $15,372 (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 50541

• Active inventory: 4
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,053 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$36 /mo · $428/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $485

Break-even live

Break-even rent $439

Max offer price $54,900

Occupancy floor 49%

Sensitivity live

Price	-10% $516	-5% $501	+0% $485	+5% $470	+10% $454
Rent	-10% $402	-5% $443	+0% $485	+5% $527	+10% $568
Rate	-1.0pp $513	-0.5pp $499	base $485	+0.5pp $471	+1.0pp $456

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-19
   status Pending
2. 2026-04-14
   listed $54,900 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: $428 · $36/mo
• Projected year-2 tax: $645 · $54/mo
• Expected delta: +$217/yr (+$18/mo · 50.7%)

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,630
• − Mortgage interest: −$3,075
• − Property taxes: −$428
• − Insurance: −$274
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,597
• Taxable income: $5,235
• Est. tax owed @ 24.0%: −$1,256
• After-tax cash flow: $4,564/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: Gilmore City-Bradgate Community School District
• NCES district ID: 1912600
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $44,072
• Composite: 44.24/100
• National rank: #6185
• State rank: #325 of 330 in IA

Livability — Gilmore City

• Score: 69/100
• State rank: #399
• US rank: #8493

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilmore City, IA
• Population (ZIP): 1,035

Population outlook (Pocahontas County) Hauer SSP2

• Today (2025): 6,624 people
• By 2030: 6,482 · -2.1%
• By 2040: 6,359 · -4.0%
• By 2050: 6,439 · -2.8%
• By 2075: 7,397 · +11.7%
• By 2100: 8,428 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 10% Scottish 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Pocahontas

• 2024 margin: Solid R (+54.0) · D 22.3% · R 76.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: -8.4pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+49.5 2016: R+45.2 2012: R+21.8 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

• 2026-04-19 Pending — CIBOR
• 2026-04-14 Listed $54,900 CIBOR

Property tax history

+4.5%/yr

Latest (2025): $428 · -4.0% YoY. Source: county tax records.