412 W Charles St · Oelwein, IA 50662

$46,000

4 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 152 Days on market

Built 1905 0.41 ac lot $29/sqft · 36% below area Est $71k · 36% under ↓ 26% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1905

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 4.5% in Oelwein — 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 76/100 on livability (#186 in IA, #3,329 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Oelwein Community School District (town): math 47% / reading 55% proficiency, ranked #281 of 289 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $318 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $22k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 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 1905 — 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. 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.
6. 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.
7. 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: 2.17% ✓
• Cap rate: 17.66%
• Cash-on-cash: 40.60%
• DSCR: 2.81
• GRM: 3.8

CMA / ARV

• ARV (median comp): $71,323
• List price: $46,000
• Delta: -35.50%
• 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
12 5th Ave Ave NW	0.05mi	3/1.0 (-1)	1,697 (+6%)	5mo	$50,000	$29	78
127 7th Ave	0.23mi	3/2.0 (-1)	1,638 (+2%)	1mo	$135,000	$82	76
202 N Frederick Ave Ave	0.44mi	4/2.0	1,718 (+7%)	4mo	$105,000	$61	60
410 1st Ave Ave NW	0.47mi	3/1.5 (-1)	1,509 (-6%)	6mo	$70,150	$46	56
219 1st Ave Ave NE	0.54mi	4/2.0	1,678 (+5%)	10mo	$85,000	$51	54
210 9th Ave Ave SW	0.38mi	3/1.5 (-1)	1,393 (-13%)	14mo	$92,000	$66	42
112 6th St. St NE	0.72mi	3/2.0 (-1)	1,772 (+11%)	4mo	$140,000	$79	37
309 3rd Ave Ave SE	0.68mi	3/2.0 (-1)	1,399 (-13%)	2mo	$120,000	$86	36
309 SE 3rd Ave	0.68mi	3/2.5 (-1)	1,400 (-12%)	2mo	$120,000	$86	34
33 5th Ave Ave SE	0.74mi	3/1.5 (-1)	1,409 (-12%)	7mo	$75,000	$53	33
40 SE 5th Ave	0.72mi	3/1.5 (-1)	1,404 (-12%)	8mo	$119,000	$85	33
716 2nd Ave Ave SW	0.70mi	3/2.0 (-1)	1,439 (-10%)	15mo	$80,000	$56	29

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: 37.1%
• Equity multiple: 2.58×
• Total profit: $20,338
• Equity at exit: $6,859

10-year hold

• IRR: 43.7%
• Equity multiple: 5.16×
• Total profit: $53,600
• Equity at exit: $3,977

Cash invested: $12,880 (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 50662

• Home prices YoY: -21.7%
• Active inventory: 60
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$94 /mo · $1,126/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $436

Break-even live

Break-even rent $448

Max offer price $46,000

Occupancy floor 51%

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1297 S Frederick Ave Unit 3 Oelwein, IA	3.0	1.0	1500	$1,000	$0.67	21d	1	1.31mi

Listing history 24 events

1. 2026-05-15
   status Pending 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

2. 2026-05-15
   status Active 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

3. 2026-05-11
   historical 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

4. 2026-04-06
   price $46,000 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

5. 2026-03-23
   price $56,000 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

6. 2026-03-20
   price $58,000 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

7. 2026-02-02
   price $62,000 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

8. 2026-01-28
   price $64,000 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

9. 2025-12-10
   listed $67,500 Active 662-char remark

   Show marketing remark (662 chars)

   Opportunity awaits with this 4-bedroom, 1-bath fixer-upper full of potential! Perfect for investors, flippers, or buyers ready to build sweat equity, this home offers a spacious layout and plenty of room to bring your vision to life. Features include generously sized bedrooms, a functional floor plan, and solid bones ready for renovation. The property also offers outdoor space with room for landscaping, expansion, or creating your own private retreat. With the right updates, this home could truly shine and significantly increase in value. Conveniently located near local amenities, this is your chance to turn a diamond in the rough into something special.

10. 2025-07-28
    price $62,500
11. 2025-07-20
    price $73,500
12. 2025-06-13
    price $78,500
13. 2025-06-03
    price $85,000
14. 2024-11-05
    price $50,000
15. 2024-10-07
    price $57,500
16. 2024-09-15
    price $71,500
17. 2024-09-04
    price $60,000
18. 2023-12-07
    soldstatus $64,000
19. 2023-12-01
    soldstatus $63,750 Closed
20. 2023-10-22
    status Pending
21. 2023-09-19
    price $69,900
22. 2023-08-01
    listed $75,000 Active
23. 2018-09-14
    soldstatus $60,000
24. 2017-08-17
    listed $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: $1,126 · $94/mo
• Projected year-2 tax: $1,126 · $94/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $12,000
• − Mortgage interest: −$2,577
• − Property taxes: −$1,126
• − Insurance: −$230
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,338
• Taxable income: $4,809
• Est. tax owed @ 24.0%: −$1,154
• After-tax cash flow: $4,075/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: Oelwein Community School District
• NCES district ID: 1921630
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $39,812
• Composite: 42.61/100
• National rank: #3189
• State rank: #281 of 289 in IA

Livability — Oelwein

• Score: 76/100
• State rank: #186
• US rank: #3329

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: Oelwein, IA
• Population (ZIP): 6,497

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.26%
• Current HPI: 177.9399
• 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

-26.4% since first listed

24 events — show timeline

• 2026-05-15 Pending — CRAAR, CDRMLS
• 2026-05-15 Relisted — CRAAR, CDRMLS
• 2026-05-11 Delisted — CRAAR, CDRMLS
• 2026-04-06 Price Changed $46,000 CRAAR, CDRMLS
• 2026-03-23 Price Changed $56,000 CRAAR, CDRMLS
• 2026-03-20 Price Changed $58,000 CRAAR, CDRMLS
• 2026-02-02 Price Changed $62,000 CRAAR, CDRMLS
• 2026-01-28 Price Changed $64,000 CRAAR, CDRMLS
• 2025-12-10 Listed $67,500 CRAAR, CDRMLS
• 2025-07-28 Price Changed $62,500 NEIRBR as distributed by MLS GRID
• 2025-07-20 Price Changed $73,500 NEIRBR as distributed by MLS GRID
• 2025-06-13 Price Changed $78,500 NEIRBR as distributed by MLS GRID
• 2025-06-03 Price Changed $85,000 NEIRBR as distributed by MLS GRID
• 2024-11-05 Price Changed $50,000 NEIRBR as distributed by MLS GRID
• 2024-10-07 Price Changed $57,500 NEIRBR as distributed by MLS GRID
• 2024-09-15 Price Changed $71,500 NEIRBR as distributed by MLS GRID
• 2024-09-04 Price Changed $60,000 NEIRBR as distributed by MLS GRID
• 2023-12-07 Sold (Public Records) $64,000 Public Records
• 2023-12-01 Sold (MLS) $63,750 NEIRBR as distributed by MLS GRID
• 2023-10-22 Pending — NEIRBR as distributed by MLS GRID
• 2023-09-19 Price Changed $69,900 NEIRBR as distributed by MLS GRID
• 2023-08-01 Listed $75,000 NEIRBR as distributed by MLS GRID
• 2018-09-14 Sold (MLS) $60,000 NEIRBR as distributed by MLS GRID
• 2017-08-17 Listed $62,500 NEIRBR as distributed by MLS GRID

Property tax history

+4.5%/yr

Latest (2025): $1,126 · -13.1% YoY. Source: county tax records.