903 S Milner St · Ottumwa, IA 52501

$105,000

3 bd · 2.0 ba · 1,691 sqft · SingleFamily public records · 99 Days on market

Built 1939 1,742 sqft lot $62/sqft · 34% below area Est $160k · 34% under ↓ 15% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this 3-bedroom ranch on the south side of Ottumwa! Inside you'll find a nice sized living room with plenty of space to gather, plus a newly remodeled bonus living area that could serve as a family room, office, or playroom. The home also features two full bathrooms and a detached garage. A great opportunity to make it your own.

Key facts

• Detached garage
• 1,742 sq ft lot
• Garage

Tags

• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 5.8% in Ottumwa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 192 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.37% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• GRM: 6.1

CMA / ARV

• ARV (median comp): $160,151
• List price: $105,000
• Delta: -34.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
534 S Ferry St	0.41mi	3/2.0	1,514 (-10%)	9mo	$160,000	$106	56
502 Lewis St	0.24mi	3/2.0	1,875 (+11%)	21mo	$190,000	$101	54
426 W Wilson St	0.67mi	3/2.0	1,680 (-1%)	17mo	$122,000	$73	53
421 & 433 S Ferry	0.54mi	3/2.0	1,765 (+4%)	18mo	$247,000	$140	52
227 W Williams St	0.57mi	4/2.0 (+1)	1,714 (+1%)	19mo	$135,000	$79	51
513 S Ransom St	0.43mi	2/1.0 (-1)	1,568 (-7%)	11mo	$125,000	$80	50
221 S Ward St	0.70mi	4/1.0 (+1)	1,745 (+3%)	13mo	$110,000	$63	43
203 S Milner St	0.65mi	4/3.5 (+1)	1,732 (+2%)	20mo	$128,750	$74	38
945 W Williams St	0.66mi	2/1.0 (-1)	1,475 (-13%)	10mo	$140,000	$95	31
406 S Willard St	0.49mi	4/1.0 (+1)	1,463 (-14%)	19mo	$101,000	$69	30

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $10,959
• Equity at exit: $15,656

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $45,582
• Equity at exit: $9,078

Cash invested: $29,400 (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 52501

• Active inventory: 192
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,443 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $439

Break-even live

Break-even rent $887

Max offer price $105,000

Occupancy floor 65%

Sensitivity live

Price	-10% $499	-5% $469	+0% $439	+5% $409	+10% $380
Rent	-10% $325	-5% $382	+0% $439	+5% $496	+10% $553
Rate	-1.0pp $492	-0.5pp $466	base $439	+0.5pp $412	+1.0pp $384

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $105,000 Active 99 DOM
2. 2026-06-18
   days on market $105,000 Active 97 DOM
3. 2026-06-17
   days on market $105,000 Active 96 DOM
4. 2026-06-16
   days on market $105,000 Active 95 DOM
5. 2026-06-15
   days on market $105,000 Active 94 DOM
6. 2026-06-13
   days on market $105,000 Active 92 DOM
7. 2026-06-12
   pricedays on market $105,000 Active 91 DOM
8. 2026-06-09
   days on market $110,000 Active 88 DOM
9. 2026-06-08
   days on market $110,000 Active 87 DOM
10. 2026-06-07
    days on market $110,000 Active 86 DOM
11. 2026-06-07
    days on market $110,000 Active 85 DOM
12. 2026-06-04
    days on market $110,000 Active 82 DOM
13. 2026-06-02
    days on market $110,000 Active 81 DOM
14. 2026-06-01
    days on market $110,000 Active 80 DOM
15. 2026-05-31
    days on market $110,000 Active 79 DOM
16. 2026-05-31
    days on market $110,000 Active 78 DOM
17. 2026-04-18
    price $115,000 339-char remark

    Show marketing remark (339 chars)

    Check out this 3-bedroom ranch on the south side of Ottumwa! Inside you'll find a nice sized living room with plenty of space to gather, plus a newly remodeled bonus living area that could serve as a family room, office, or playroom. The home also features two full bathrooms and a detached garage. A great opportunity to make it your own.

18. 2026-03-13
    listed $135,000 Active 339-char remark

    Show marketing remark (339 chars)

    Check out this 3-bedroom ranch on the south side of Ottumwa! Inside you'll find a nice sized living room with plenty of space to gather, plus a newly remodeled bonus living area that could serve as a family room, office, or playroom. The home also features two full bathrooms and a detached garage. A great opportunity to make it your own.

ⓘ 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: $1,280 · $107/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$184/yr (+$15/mo · 14.4%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,319
• − Mortgage interest: −$5,882
• − Property taxes: −$1,280
• − Insurance: −$525
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$3,055
• Taxable income: $3,807
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $4,356/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

-14.8% since first listed

2 events — show timeline

• 2026-04-18 Price Changed $115,000 IAR
• 2026-03-13 Listed $135,000 IAR

Property tax history

-2.3%/yr

Latest (2025): $1,280 · +5.8% YoY. Source: county tax records.