610 E Henry St · Mount Pleasant, IA 52641

$30,000

3 bd · 1.5 ba · 1,843 sqft · SingleFamily public records · 57 Days on market

Built 1871 6,098 sqft lot $16/sqft · 83% below area

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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
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of square footage in this 3 bedroom, 2 bath home with detached garage. Needs some love and TLC but could be a great home for someone that is handy!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1871

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.2% vs local median 3.3% in Mount Pleasant — 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 84/100 on livability (#20 in IA, #662 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Mount Pleasant Community School District (town): math 63% / reading 66% proficiency, ranked #207 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $22k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1871 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1871 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.71% ✓
• Cap rate: 33.17%
• Cash-on-cash: 95.97%
• DSCR: 5.27
• GRM: 2.2

CMA / ARV

• ARV (median comp): $180,579
• List price: $30,000
• Delta: -83.39%
• 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
610 E Henry St	0.00mi	3/1.5	1,843 (0%)	0mo	$22,500	$12	100
103 E Henry St	0.41mi	3/1.5	1,792 (-3%)	3mo	$130,000	$73	74
308 E Washington St	0.32mi	4/1.5 (+1)	1,760 (-4%)	5mo	$136,000	$77	69
803 E Washington St. St	0.23mi	3/2.0	1,706 (-7%)	10mo	$187,500	$110	67
603 E Green St	0.41mi	3/2.0	1,904 (+3%)	9mo	$260,000	$137	66
305 S Locust St. St	0.40mi	3/1.0	1,640 (-11%)	1mo	$147,450	$90	60
415 N Adams St	0.42mi	3/1.5	1,680 (-9%)	7mo	$120,223	$72	60
505 S Pine St	0.49mi	3/2.0	1,957 (+6%)	8mo	$189,900	$97	58
605 E Clay St. St	0.27mi	2/2.0 (-1)	2,072 (+12%)	6mo	$179,000	$86	55
612 N Lincoln St	0.47mi	3/2.0	2,104 (+14%)	6mo	$186,000	$88	47
204 W Henry St	0.56mi	3/2.0	1,584 (-14%)	1mo	$111,000	$70	47
806 N Main St. St	0.74mi	2/2.0 (-1)	2,056 (+12%)	7mo	$195,000	$95	33

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: 96.9%
• Equity multiple: 5.52×
• Total profit: $37,944
• Equity at exit: $4,473

10-year hold

• IRR: 99.6%
• Equity multiple: 11.50×
• Total profit: $88,206
• Equity at exit: $2,594

Cash invested: $8,400 (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 52641

• Home prices YoY: -25.2%
• Active inventory: 93
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,113 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $672

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 35%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-08
   price $30,000 152-char remark

   Show marketing remark (152 chars)

   Lots of square footage in this 3 bedroom, 2 bath home with detached garage. Needs some love and TLC but could be a great home for someone that is handy!

2. 2026-04-13
   price $40,000 152-char remark

   Show marketing remark (152 chars)

   Lots of square footage in this 3 bedroom, 2 bath home with detached garage. Needs some love and TLC but could be a great home for someone that is handy!

3. 2026-03-31
   listed $52,500 Active 152-char remark

   Show marketing remark (152 chars)

   Lots of square footage in this 3 bedroom, 2 bath home with detached garage. Needs some love and TLC but could be a great home for someone that is handy!

4. 2019-12-23
   soldstatus $78,000
5. 2016-12-28
   soldstatus $77,800
6. 2016-04-21
   listed $84,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $13,354
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$873
• Taxable income: $8,064
• Est. tax owed @ 24.0%: −$1,935
• After-tax cash flow: $6,126/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: Mount Pleasant Community School District
• NCES district ID: 1919890
• Math proficiency: 63% ▼ -5.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $46,805
• Composite: 54.49/100
• National rank: #1348
• State rank: #207 of 289 in IA

Livability — Mount Pleasant

• Score: 84/100
• State rank: #20
• US rank: #662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Pleasant, IA
• Population (ZIP): 12,796

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -60.39%
• Current HPI: 179.2437
• 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

-64.5% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $30,000 IAR
• 2026-04-13 Price Changed $40,000 IAR
• 2026-03-31 Listed $52,500 IAR
• 2019-12-23 Sold (Public Records) $78,000 Public Records
• 2016-12-28 Sold (Public Records) $77,800 Public Records
• 2016-04-21 Listed $84,500 IAR

Property tax history

+1.5%/yr

Latest (2025): $2,070 · +5.7% YoY. Source: county tax records.