322 S Davis St · Ottumwa, IA 52501

$130,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 75 Days on market

Built 1900 7,405 sqft lot $159/sqft · 66% above area ↓ 12% since listing

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Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice well kept home waiting for you to make it your own. This 2 bedroom home on Ottumwa's south side offers ample living space while remaining easy on utility bills and upkeep. You will find a separate dining room, main floor laundry, enclosed back porch, oversized 1 car garage, shed, and garden area. Be sure to set up an appointment with an agent to see this one!

Key facts

• Enclosed back porch
• Garden area
• Separate dining room

Tags

• SEPARATE DINING ROOM
• MAIN FLOOR LAUNDRY
• ENCLOSED BACK PORCH
• GARDEN AREA

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 $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (3.3% below list).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.6% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Evans Middle School (math 45% / reading 53%, grade C-, #219 of 246 statewide, top 90%, 1,047 students, 46% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 192 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $78,471
• List price: $130,000
• Delta: 65.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Moore St	0.06mi	2/1.0	812 (-0%)	5mo	$59,500	$73	92
425 S Davis St	0.15mi	3/1.0 (+1)	816 (0%)	0mo	$164,000	$201	88
513 S Sheridan Ave	0.11mi	2/1.0	867 (+6%)	3mo	$50,000	$58	82
559 S Moore St	0.35mi	2/1.0	800 (-2%)	5mo	$115,000	$144	76
422 W Finley Ave	0.48mi	2/1.0	832 (+2%)	1mo	$125,000	$150	74
182 N Moore St	0.50mi	2/1.0	796 (-2%)	2mo	$63,500	$80	71
612 Clinton Ave	0.22mi	2/1.0	906 (+11%)	1mo	$57,000	$63	70
711 Elma St	0.52mi	2/1.0	872 (+7%)	1mo	$78,500	$90	63
902 Clinton Ave	0.43mi	2/1.0	746 (-9%)	4mo	$45,000	$60	62
518 Tuttle St	0.43mi	3/2.0 (+1)	864 (+6%)	1mo	$160,000	$185	61
924 Clinton Ave. Ave	0.48mi	3/1.0 (+1)	912 (+12%)	0mo	$105,000	$115	53
846 S Adella St	0.71mi	2/1.0	728 (-11%)	3mo	$103,500	$142	46

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-11,788
• Equity at exit: $19,383

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $1,647
• Equity at exit: $11,240

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 52501

• Active inventory: 192
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$111 /mo · $1,332/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $146

Break-even live

Break-even rent $1,072

Max offer price $130,000

Occupancy floor 83%

Sensitivity live

Price	-10% $219	-5% $183	+0% $146	+5% $109	+10% $72
Rent	-10% $47	-5% $96	+0% $146	+5% $196	+10% $245
Rate	-1.0pp $211	-0.5pp $179	base $146	+0.5pp $112	+1.0pp $78

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Minneopa Ave Unit 203 Ottumwa, IA	2.0	1.0	700	$1,150	$1.64	45d	1	1.40mi
420 Minneopa Ave Unit 204 Ottumwa, IA	2.0	1.0	800	$1,350	$1.69	45d	1	1.40mi

Listing history 24 events

1. 2026-06-21
   days on market $130,000 Active 75 DOM
2. 2026-06-21
   days on market $130,000 Active 74 DOM
3. 2026-06-18
   days on market $130,000 Active 72 DOM
4. 2026-06-17
   days on market $130,000 Active 71 DOM
5. 2026-06-16
   days on market $130,000 Active 70 DOM
6. 2026-06-15
   days on market $130,000 Active 69 DOM
7. 2026-06-13
   days on market $130,000 Active 67 DOM
8. 2026-06-12
   days on market $130,000 Active 66 DOM
9. 2026-06-09
   days on market $130,000 Active 63 DOM
10. 2026-06-08
    days on market $130,000 Active 62 DOM
11. 2026-06-07
    days on market $130,000 Active 61 DOM
12. 2026-06-07
    days on market $130,000 Active 60 DOM
13. 2026-06-04
    days on market $130,000 Active 57 DOM
14. 2026-06-02
    days on market $130,000 Active 56 DOM
15. 2026-06-01
    days on market $130,000 Active 55 DOM
16. 2026-05-31
    days on market $130,000 Active 54 DOM
17. 2026-05-31
    days on market $130,000 Active 53 DOM
18. 2026-04-07
    listed $130,000 Active 366-char remark

    Show marketing remark (366 chars)

    Nice well kept home waiting for you to make it your own. This 2 bedroom home on Ottumwa's south side offers ample living space while remaining easy on utility bills and upkeep. You will find a separate dining room, main floor laundry, enclosed back porch, oversized 1 car garage, shed, and garden area. Be sure to set up an appointment with an agent to see this one!

19. 2025-05-05
    listed $130,000 Active
20. 2025-02-24
    status Active
21. 2024-08-13
    price $135,000
22. 2024-07-09
    price $138,000
23. 2024-05-18
    price $142,000
24. 2024-02-13
    listed $148,000 Active

ⓘ 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: $1,332 · $111/mo
• Projected year-2 tax: $1,686 · $141/mo
• Expected delta: +$354/yr (+$30/mo · 26.6%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,080
• − Mortgage interest: −$7,282
• − Property taxes: −$1,332
• − Insurance: −$650
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$3,782
• Taxable loss: −$379
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $1,841/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

-12.2% since first listed

7 events — show timeline

• 2026-04-07 Listed $130,000 IAR
• 2025-05-05 Listed $130,000 IAR
• 2025-02-24 Relisted — IAR
• 2024-08-13 Price Changed $135,000 IAR
• 2024-07-09 Price Changed $138,000 IAR
• 2024-05-18 Price Changed $142,000 IAR
• 2024-02-13 Listed $148,000 IAR

Property tax history

+9.4%/yr

Latest (2025): $1,332 · +67.8% YoY. Source: county tax records.