335 E L St · Forest City, IA 50436

$64,900

1 bd · 1.0 ba · 424 sqft · SingleFamily public records · 24 Days on market

Built 1951 7,841 sqft lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a simple place to call home or a great investment opportunity? This cozy 1-bedroom, 1-bath home offers efficient living with a newer combination tub/shower and an inviting front deck. The detached single-stall garage provides added storage and convenience. Ideal for first-time buyers, downsizers, or as a rental investment opportunity. Owner is a licensed real estate agent.

Key facts

• Inviting front deck
• 7,841 sq ft lot
• Garage

Tags

• COMBINATION TUB SHOWER
• INVITING FRONT DECK
• DETACHED SINGLE STALL GARAGE

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1 car)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 56 x 142.25 (0.18 acre)

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Range; Refrigerator; Washer; Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($765 rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.1% in Forest City — 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 77/100 on livability (#160 in IA, #2,902 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Forest City Community School District (town): math 67% / reading 78% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 45 active listings in the ZIP; 6 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Winnebago County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-488
• Equity at exit: $9,677

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $12,517
• Equity at exit: $5,611

Cash invested: $18,172 (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 50436

• Home prices YoY: -25.3%
• Active inventory: 45
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $765 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $157

Break-even live

Break-even rent $565

Max offer price $64,900

Occupancy floor 74%

Sensitivity live

Price	-10% $194	-5% $176	+0% $157	+5% $139	+10% $121
Rent	-10% $97	-5% $127	+0% $157	+5% $187	+10% $218
Rate	-1.0pp $190	-0.5pp $174	base $157	+0.5pp $140	+1.0pp $123

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $64,900 Active 24 DOM
2. 2026-06-18
   days on market $64,900 Active 22 DOM
3. 2026-06-17
   days on market $64,900 Active 21 DOM
4. 2026-06-16
   days on market $64,900 Active 20 DOM
5. 2026-06-15
   days on market $64,900 Active 19 DOM
6. 2026-06-13
   days on market $64,900 Active 17 DOM
7. 2026-06-12
   days on market $64,900 Active 16 DOM
8. 2026-06-09
   days on market $64,900 Active 13 DOM
9. 2026-06-08
   days on market $64,900 Active 12 DOM
10. 2026-06-07
    days on market $64,900 Active 11 DOM
11. 2026-06-07
    days on market $64,900 Active 10 DOM
12. 2026-06-04
    days on market $64,900 Active 7 DOM
13. 2026-06-02
    days on market $64,900 Active 6 DOM
14. 2026-06-01
    days on market $64,900 Active 5 DOM
15. 2026-05-31
    days on market $64,900 Active 4 DOM
16. 2026-05-31
    days on market $64,900 Active 3 DOM
17. 2026-05-27
    listed $64,900 Active
18. 2023-01-13
    soldstatus $165,000
19. 2021-07-02
    soldstatus $45,000
20. 2015-09-30
    soldstatus $29,500
21. 2007-12-11
    soldstatus $27,500

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $985 · $82/mo
• Expected delta: +$33/yr (+$3/mo · 3.5%)

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,175
• − Mortgage interest: −$3,635
• − Property taxes: −$952
• − Insurance: −$324
• − Repairs & maintenance: −$734
• − Management: −$734
• − Depreciation: −$1,888
• Taxable income: $907
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $1,670/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: Forest City Community School District
• NCES district ID: 1911790
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 78% ▲ 1.00%
• Median HH income: $46,674
• Composite: 61.08/100
• National rank: #789
• State rank: #111 of 289 in IA

Livability — Forest City

• Score: 77/100
• State rank: #160
• US rank: #2902

Category grades

Amenities F 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: Forest City, IA
• Population (ZIP): 5,760

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 10,099 people
• By 2030: 9,831 · -2.7%
• By 2040: 9,326 · -7.7%
• By 2050: 9,073 · -10.2%
• By 2075: 9,448 · -6.4%
• By 2100: 10,279 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 6% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Iranian 1%
• Foreign-born: 5% · China, Canada, Vietnam
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Winnebago

• 2024 margin: Solid R (+30.7) · D 33.9% · R 64.6% · Other 1.5%
• 2008→2024 swing: -39.3pp toward R · 2008: 8.6pp · 2024: -30.7pp
• All cycles: 2024: R+30.7 2020: R+26.3 2016: R+26.5 2012: R+0.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.62%
• Current HPI: 187.8639
• 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

+136.0% since first listed

5 events — show timeline

• 2026-05-27 Listed $64,900 IAR
• 2023-01-13 Sold (Public Records) $165,000 Public Records
• 2021-07-02 Sold (Public Records) $45,000 Public Records
• 2015-09-30 Sold (Public Records) $29,500 Public Records
• 2007-12-11 Sold (Public Records) $27,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $952 · +4.4% YoY. Source: county tax records.