212 E 2nd St · Moulton, IA 52572

$50,000

3 bd · 1.0 ba · 1,040 sqft · Manufactured public records · 134 Days on market

Built 1971 0.33 ac 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 +7.3/10.0
• Schools +4.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home is being sold AS-IS. A buyer may have a home/pest inspections but the seller is not repairing/replacing anything.

Key facts

• 0.33 acre lot
• 2 garage spots
• Built 1971

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#866 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D+, employment D+.
• Moulton-Udell Community School District (rural): math 55% / reading 50% proficiency, ranked #319 of 330 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 6 units permitted in Appanoose County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($346 loan paydown + $2k appreciation (4.6% local appreciation)).
• Appanoose County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $37k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1971 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.89% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.57%
• DSCR: 2.58
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.7%
• Equity multiple: 3.63×
• Total profit: $36,820
• Equity at exit: $27,124

10-year hold

• IRR: 42.0%
• Equity multiple: 7.36×
• Total profit: $89,041
• Equity at exit: $45,841

Cash invested: $14,000 (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 52572

• Home prices YoY: 3.4%
• Active inventory: 10
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $944 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$48 /mo · $570/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $415

Break-even live

Break-even rent $418

Max offer price $50,000

Occupancy floor 51%

Sensitivity live

Price	-10% $443	-5% $429	+0% $415	+5% $401	+10% $387
Rent	-10% $340	-5% $378	+0% $415	+5% $452	+10% $490
Rate	-1.0pp $440	-0.5pp $428	base $415	+0.5pp $402	+1.0pp $389

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $50,000 Active 134 DOM
2. 2026-06-17
   days on market $50,000 Active 133 DOM
3. 2026-06-16
   days on market $50,000 Active 132 DOM
4. 2026-06-15
   days on market $50,000 Active 131 DOM
5. 2026-06-13
   days on market $50,000 Active 129 DOM
6. 2026-06-12
   days on market $50,000 Active 128 DOM
7. 2026-06-09
   days on market $50,000 Active 125 DOM
8. 2026-06-08
   days on market $50,000 Active 124 DOM
9. 2026-06-07
   days on market $50,000 Active 123 DOM
10. 2026-06-07
    days on market $50,000 Active 122 DOM
11. 2026-06-04
    days on market $50,000 Active 119 DOM
12. 2026-06-02
    days on market $50,000 Active 118 DOM
13. 2026-06-01
    days on market $50,000 Active 117 DOM
14. 2026-05-31
    days on market $50,000 Active 116 DOM
15. 2026-05-31
    days on market $50,000 Active 115 DOM
16. 2026-02-04
    listed $50,000 Active 118-char remark

    Show marketing remark (118 chars)

    Home is being sold AS-IS. A buyer may have a home/pest inspections but the seller is not repairing/replacing anything.

17. 2019-07-25
    listed $32,500
18. 2007-06-27
    soldstatus $37,000

ⓘ 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: $570 · $48/mo
• Projected year-2 tax: $678 · $56/mo
• Expected delta: +$108/yr (+$9/mo · 18.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°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: $11,324
• − Mortgage interest: −$2,801
• − Property taxes: −$570
• − Insurance: −$250
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$1,455
• Taxable income: $4,437
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $3,915/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: Moulton-Udell Community School District
• NCES district ID: 1919800
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 50% ▼ -20.00%
• Median HH income: $42,255
• Composite: 46.05/100
• National rank: #5496
• State rank: #319 of 330 in IA

Livability — Moulton

• Score: 59/100
• State rank: #866
• US rank: #20163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moulton, IA
• Population (ZIP): 963

Population outlook (Appanoose County) Hauer SSP2

• Today (2025): 11,726 people
• By 2030: 11,194 · -4.5%
• By 2040: 10,063 · -14.2%
• By 2050: 8,976 · -23.5%
• By 2075: 6,785 · -42.1%
• By 2100: 4,819 · -58.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Serbian 2% Iranian 2% Lithuanian 1%
• Languages at home: 93% English-only · German/W. Germanic 7%

Political lean MEDSL · Appanoose

• 2024 margin: Solid R (+46.7) · D 26.1% · R 72.8% · Other 1.2%
• 2008→2024 swing: -44.8pp toward R · 2008: -1.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+40.2 2016: R+36.4 2012: R+3.5 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.60%
• Current HPI: 139.5038
• 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

+35.1% since first listed

3 events — show timeline

• 2026-02-04 Listed $50,000 IAR
• 2019-07-25 Listed $32,500 IAR
• 2007-06-27 Sold (Public Records) $37,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $570 · +4.0% YoY. Source: county tax records.