1121 Avenue E · Fort Madison, IA 52627

$25,000

1 bd · 1.0 ba · 975 sqft · SingleFamily public records · 192 Days on market

Built 1890 3,485 sqft lot $26/sqft · 55% below area ↓ 47% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• 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

This house is nicely located near the FM downtown and river area. It boasts a sizable 2 car garage. It needs some fixing up but has potential. This property is selling as an estate and is selling AS-IS. Make an appointment with your realtor today!

Key facts

• River area
• 3,485 sq ft lot
• 2 garage spots

Tags

• RIVER AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 5.3% in Fort Madison — 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 75/100 on livability (#230 in IA, #4,353 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment D-.
• Fort Madison Community School District (town): math 55% / reading 58% proficiency, ranked #260 of 289 in IA (top 90%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 64 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Lee 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.51% ✓
• Cap rate: 27.90%
• Cash-on-cash: 77.15%
• DSCR: 4.43
• GRM: 2.4

CMA / ARV

• ARV (median comp): $55,253
• List price: $25,000
• Delta: -54.75%
• 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
1205 Avenue G	0.16mi	2/1.0 (+1)	1,020 (+5%)	7mo	$45,000	$44	74
1322 Avenue G	0.20mi	2/1.0 (+1)	973 (-0%)	14mo	$17,900	$18	74
1316 Avenue G	0.25mi	2/1.0 (+1)	892 (-8%)	9mo	$75,000	$84	62
1215 Avenue G	0.16mi	2/1.0 (+1)	1,099 (+13%)	7mo	$10,000	$9	60
1515 Avenue C Ave	0.40mi	2/1.0 (+1)	1,059 (+9%)	8mo	$120,000	$113	56
1328 Avenue G	0.27mi	2/1.0 (+1)	860 (-12%)	10mo	$37,500	$44	54
1430 Avenue I	0.44mi	2/1.0 (+1)	960 (-2%)	21mo	$160,000	$167	54
1731 Avenue J	0.70mi	2/1.0 (+1)	990 (+2%)	8mo	$54,000	$55	53
414 18th St	0.62mi	2/1.0 (+1)	921 (-6%)	7mo	$35,000	$38	51
1106 Avenue E	0.05mi	2/1.5 (+1)	1,120 (+15%)	20mo	$53,000	$47	49
1501 Avenue D	0.35mi	2/1.5 (+1)	1,092 (+12%)	20mo	$35,000	$32	40
435 Avenue A	0.70mi	2/1.0 (+1)	1,040 (+7%)	23mo	$85,000	$82	32

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: 77.2%
• Equity multiple: 4.52×
• Total profit: $24,669
• Equity at exit: $3,728

10-year hold

• IRR: 80.8%
• Equity multiple: 9.37×
• Total profit: $58,620
• Equity at exit: $2,162

Cash invested: $7,000 (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 52627

• Home prices YoY: -28.6%
• Active inventory: 64
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $450

Break-even live

Break-even rent $308

Max offer price $25,000

Occupancy floor 44%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-07
   statusdays on market $25,000 Pending 192 DOM
2. 2026-06-03
   days on market $25,000 Active 191 DOM
3. 2026-06-02
   days on market $25,000 Active 190 DOM
4. 2026-06-01
   days on market $25,000 Active 189 DOM
5. 2026-05-31
   days on market $25,000 Active 188 DOM
6. 2026-05-30
   days on market $25,000 Active 187 DOM
7. 2026-05-05
   price $25,000 247-char remark

   Show marketing remark (247 chars)

   This house is nicely located near the FM downtown and river area. It boasts a sizable 2 car garage. It needs some fixing up but has potential. This property is selling as an estate and is selling AS-IS. Make an appointment with your realtor today!

8. 2026-03-23
   price $29,000 247-char remark

   Show marketing remark (247 chars)

   This house is nicely located near the FM downtown and river area. It boasts a sizable 2 car garage. It needs some fixing up but has potential. This property is selling as an estate and is selling AS-IS. Make an appointment with your realtor today!

9. 2025-11-24
   listed $35,000 Active 247-char remark

   Show marketing remark (247 chars)

   This house is nicely located near the FM downtown and river area. It boasts a sizable 2 car garage. It needs some fixing up but has potential. This property is selling as an estate and is selling AS-IS. Make an appointment with your realtor today!

10. 2016-08-22
    soldstatus $47,000

ⓘ 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: $1,218 · $102/mo
• Projected year-2 tax: $1,218 · $102/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 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,528
• − Mortgage interest: −$1,400
• − Property taxes: −$1,218
• − Insurance: −$125
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$727
• Taxable income: $5,373
• Est. tax owed @ 24.0%: −$1,289
• After-tax cash flow: $4,111/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: Fort Madison Community School District
• NCES district ID: 1911850
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $46,801
• Composite: 47.87/100
• National rank: #2218
• State rank: #260 of 289 in IA

Livability — Fort Madison

• Score: 75/100
• State rank: #230
• US rank: #4353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Madison, IA
• Population (ZIP): 12,585

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Slovak 2% Portuguese 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.32%
• Current HPI: 175.7708
• 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

-46.8% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $25,000 IAR
• 2026-03-23 Price Changed $29,000 IAR
• 2025-11-24 Listed $35,000 IAR
• 2016-08-22 Sold (Public Records) $47,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,218 · +46.1% YoY. Source: county tax records.