1309 Grape Ave · Packwood, IA 52580

$130,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 48 Days on market

Built 1920 1.95 ac lot ↓ 7% since listing

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Why this score? — see what drove the D 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 +10.3/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +6.1/10.0
• Livability +3.1/5.0
• DSCR +3.0/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Looking for space to spread out and room to tinker? This nearly 2-acre property offers the perfect blend of country freedom and everyday comfort. The home features an inviting open floor plan with 2 bedrooms, 1 bathroom, and beautiful hardwood floors throughout. Outside, multiple outbuildings provide ideal space for hobbies, projects, or storage—making this a great fit for anyone who loves to work, create, or simply enjoy extra elbow room.

Key facts

• Open floor plan
• Hardwood floors
• 1.95 acre lot

Tags

• NEARLY 2-ACRE PROPERTY
• OPEN FLOOR PLAN
• HARDWOOD FLOORS
• MULTIPLE OUTBUILDINGS

Property features AI

Exterior

• Parking: Detached three-car garage
• Utilities: Septic tank; Rural water
• Home design: Single-family property
• Construction: Wood siding exterior; Metal roof; Brick/mortar foundation; Built on a basement
• Exterior features: Gravel road access; Zoned residential; Approximately 1.95 acres

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Gas and propane capable
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-71 ($-855/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (24.2% below list).
• Recommended offer: $99k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#733 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, health & safety D, amenities F.
• Pekin Community School District (rural): math 71% / reading 73% proficiency, ranked #121 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Pekin Elementary School (math 77% / reading 77%, grade A, #103 of 616 statewide, top 20%, 350 students, 32% FRL); Pekin Community Junior/ Senior High School (math 65% / reading 69%, grade B, #192 of 336 statewide, top 59%, 292 students, 29% FRL).
• Market conditions: 3 active listings in the ZIP; 14 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($899 loan paydown + $6k appreciation (5.0% local appreciation)).
• Jefferson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $98,525 (24.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.35%
• DSCR: 0.90
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.69×
• Total profit: $25,151
• Equity at exit: $73,392

10-year hold

• IRR: 12.1%
• Equity multiple: 3.20×
• Total profit: $80,076
• Equity at exit: $126,436

Cash invested: $36,400 (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 52580

• Home prices YoY: 3.5%
• Active inventory: 3
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$114 /mo · $1,364/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $-71

Break-even live

Break-even rent $1,075

Max offer price $117,419

Occupancy floor —

Sensitivity live

Price	-10% $2	-5% $-34	+0% $-71	+5% $-108	+10% $-145
Rent	-10% $-149	-5% $-110	+0% $-71	+5% $-32	+10% $7
Rate	-1.0pp $-6	-0.5pp $-38	base $-71	+0.5pp $-105	+1.0pp $-139

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $130,000 Active 48 DOM
2. 2026-06-21
   days on market $130,000 Active 47 DOM
3. 2026-06-18
   days on market $130,000 Active 45 DOM
4. 2026-06-17
   days on market $130,000 Active 44 DOM
5. 2026-06-16
   days on market $130,000 Active 43 DOM
6. 2026-06-15
   days on market $130,000 Active 42 DOM
7. 2026-06-13
   days on market $130,000 Active 40 DOM
8. 2026-06-12
   days on market $130,000 Active 39 DOM
9. 2026-06-09
   days on market $130,000 Active 36 DOM
10. 2026-06-09
    price $130,000 Active 35 DOM
11. 2026-06-08
    days on market $140,000 Active 35 DOM
12. 2026-06-07
    days on market $140,000 Active 34 DOM
13. 2026-06-07
    days on market $140,000 Active 33 DOM
14. 2026-06-04
    days on market $140,000 Active 30 DOM
15. 2026-06-02
    days on market $140,000 Active 29 DOM
16. 2026-06-01
    days on market $140,000 Active 28 DOM
17. 2026-05-31
    days on market $140,000 Active 27 DOM
18. 2026-05-31
    days on market $140,000 Active 26 DOM
19. 2026-05-04
    listed $140,000 Active 449-char remark

ⓘ 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: $1,364 · $114/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$338/yr (+$28/mo · 24.8%)

ⓘ 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 1/10 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: $11,823
• − Mortgage interest: −$7,282
• − Property taxes: −$1,364
• − Insurance: −$650
• − Repairs & maintenance: −$946
• − Management: −$946
• − Depreciation: −$3,782
• Taxable loss: −$3,147
• Est. tax savings @ 24.0%: +$755
• After-tax cash flow: $-99/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: Pekin Community School District
• NCES district ID: 1922440
• Math proficiency: 71% ▼ -3.00%
• Reading proficiency: 73% ▲ 7.00%
• Median HH income: $44,890
• Composite: 60.54/100
• National rank: #838
• State rank: #121 of 289 in IA

Livability — Packwood

• Score: 62/100
• State rank: #733
• US rank: #16885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 691

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 20,818 people
• By 2030: 22,098 · +6.1%
• By 2040: 24,133 · +15.9%
• By 2050: 26,448 · +27.0%
• By 2075: 32,435 · +55.8%
• By 2100: 33,966 · +63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Iranian 6% Slovak 3% Romanian 1%

Political lean MEDSL · Jefferson

• 2024 margin: Lean R (+6.8) · D 45.5% · R 52.3% · Other 2.1%
• 2008→2024 swing: -27.0pp toward R · 2008: 20.2pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+1.4 2016: R+0.5 2012: D+16.0 2008: D+20.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.97%
• Current HPI: 147.3989
• 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

-7.1% since first listed

2 events — show timeline

• 2026-06-08 Price Changed $130,000 DMMLS
• 2026-05-04 Listed $140,000 DMMLS

Property tax history

+29.6%/yr

Latest (2025): $1,364 · +2.4% YoY. Source: county tax records.