503 11th St · Manning, IA 51455

$100,000

4 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 122 Days on market

Built 1920 8,712 sqft lot $61/sqft · 38% below area Est $163k · 38% under ↓ 7% since listing

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Why this score? — see what drove the A- 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 +27.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• 1% rule +7.2/10.0
• Schools +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to this spacious 4 bedroom, 1 bath property tucked away on a quiet street in Manning! Full of character and potential, this home offers solid updates where it counts while leaving room for you to add your own finishing touches. Major improvements have already been taken care of, including updated windows, a durable metal roof, updated HVAC system, wiring, and plumbing—giving you peace of mind and a strong foundation to build on. With some paint and new flooring, this home could truly shine and build instant equity. The layout offers generous living space, four bedrooms, and plenty of natural light throughout. Outside, you’ll appreciate the large detached 2-car garage in the back—perfect for vehicles, storage, or a workshop space. Location is a standout feature! You’re just blocks from the school, Recreation Center, and local parks—making it convenient for families and everyday living. If you’re looking for a home with great bones, key updates already completed, and room to make it your own, this is an opportunity you won’t want to miss. Schedule your showing today!

Key facts

• Metal roof
• Updated wiring
• Updated hvac system

Tags

• UPDATED WINDOWS
• METAL ROOF
• UPDATED HVAC SYSTEM
• UPDATED WIRING
• UPDATED PLUMBING
• LARGE DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#107 in IA, #2,085 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Ikm-Manning Community School District (rural): math 75% / reading 78% proficiency, ranked #58 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 36 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Carroll County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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 1920 — 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 A-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. 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: 1.22% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.17%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $162,594
• List price: $100,000
• Delta: -38.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 2nd St	0.64mi	4/1.0	1,510 (-8%)	13mo	$72,000	$48	46
58 Sue St	0.70mi	3/1.5 (-1)	1,547 (-5%)	12mo	$164,500	$106	42
810 Nishnabotna Dr	0.41mi	5/2.0 (+1)	1,484 (-9%)	19mo	$234,900	$158	41
335 3rd St	0.54mi	3/2.0 (-1)	1,845 (+13%)	22mo	$190,000	$103	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 3.59×
• Total profit: $72,564
• Equity at exit: $90,088

10-year hold

• IRR: 28.7%
• Equity multiple: 8.12×
• Total profit: $199,487
• Equity at exit: $194,278

Cash invested: $28,000 (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 51455

• Active inventory: 36
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,221 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $284

Break-even live

Break-even rent $861

Max offer price $100,000

Occupancy floor 72%

Sensitivity live

Price	-10% $341	-5% $312	+0% $284	+5% $256	+10% $227
Rent	-10% $188	-5% $236	+0% $284	+5% $332	+10% $380
Rate	-1.0pp $334	-0.5pp $309	base $284	+0.5pp $258	+1.0pp $232

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $100,000 Active 122 DOM
2. 2026-06-18
   days on market $100,000 Active 120 DOM
3. 2026-06-17
   days on market $100,000 Active 119 DOM
4. 2026-06-16
   days on market $100,000 Active 118 DOM
5. 2026-06-15
   days on market $100,000 Active 117 DOM
6. 2026-06-13
   pricedays on market $100,000 Active 115 DOM
7. 2026-06-12
   days on market $112,000 Active 114 DOM
8. 2026-06-09
   days on market $112,000 Active 111 DOM
9. 2026-06-08
   days on market $112,000 Active 110 DOM
10. 2026-06-07
    days on market $112,000 Active 109 DOM
11. 2026-06-07
    days on market $112,000 Active 108 DOM
12. 2026-06-04
    days on market $112,000 Active 105 DOM
13. 2026-06-02
    days on market $112,000 Active 104 DOM
14. 2026-06-01
    days on market $112,000 Active 103 DOM
15. 2026-05-31
    days on market $112,000 Active 102 DOM
16. 2026-05-31
    days on market $112,000 Active 101 DOM
17. 2026-04-23
    price $112,000 1136-char remark

    Show marketing remark (1136 chars)

    Welcome home to this spacious 4 bedroom, 1 bath property tucked away on a quiet street in Manning! Full of character and potential, this home offers solid updates where it counts while leaving room for you to add your own finishing touches. Major improvements have already been taken care of, including updated windows, a durable metal roof, updated HVAC system, wiring, and plumbing—giving you peace of mind and a strong foundation to build on. With some paint and new flooring, this home could truly shine and build instant equity. The layout offers generous living space, four bedrooms, and plenty of natural light throughout. Outside, you’ll appreciate the large detached 2-car garage in the back—perfect for vehicles, storage, or a workshop space. Location is a standout feature! You’re just blocks from the school, Recreation Center, and local parks—making it convenient for families and everyday living. If you’re looking for a home with great bones, key updates already completed, and room to make it your own, this is an opportunity you won’t want to miss. Schedule your showing today!

18. 2026-02-18
    listed $120,000 Active 1136-char remark

    Show marketing remark (1136 chars)

    Welcome home to this spacious 4 bedroom, 1 bath property tucked away on a quiet street in Manning! Full of character and potential, this home offers solid updates where it counts while leaving room for you to add your own finishing touches. Major improvements have already been taken care of, including updated windows, a durable metal roof, updated HVAC system, wiring, and plumbing—giving you peace of mind and a strong foundation to build on. With some paint and new flooring, this home could truly shine and build instant equity. The layout offers generous living space, four bedrooms, and plenty of natural light throughout. Outside, you’ll appreciate the large detached 2-car garage in the back—perfect for vehicles, storage, or a workshop space. Location is a standout feature! You’re just blocks from the school, Recreation Center, and local parks—making it convenient for families and everyday living. If you’re looking for a home with great bones, key updates already completed, and room to make it your own, this is an opportunity you won’t want to miss. Schedule your showing today!

ⓘ 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: $1,370 · $114/mo
• Projected year-2 tax: $1,470 · $122/mo
• Expected delta: +$100/yr (+$8/mo · 7.3%)

ⓘ 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 ≥102°F today · 15 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: $14,647
• − Mortgage interest: −$5,602
• − Property taxes: −$1,370
• − Insurance: −$500
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$2,909
• Taxable income: $1,923
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $2,947/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: Ikm-Manning Community School District
• NCES district ID: 1914880
• Math proficiency: 75% ▼ -1.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $49,285
• Composite: 64.68/100
• National rank: #524
• State rank: #58 of 289 in IA

Livability — Manning

• Score: 79/100
• State rank: #107
• US rank: #2085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manning, IA
• City population: 2,303
• Population (ZIP): 2,303

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,745 people
• By 2030: 19,244 · -2.5%
• By 2040: 18,251 · -7.6%
• By 2050: 17,223 · -12.8%
• By 2075: 16,258 · -17.7%
• By 2100: 15,591 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+41.9) · D 28.4% · R 70.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: 3.6pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+37.8 2016: R+31.8 2012: R+6.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.68%
• Current HPI: 296.99
• 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

-6.7% since first listed

2 events — show timeline

• 2026-04-23 Price Changed $112,000 IAR
• 2026-02-18 Listed $120,000 IAR

Property tax history

+3.0%/yr

Latest (2025): $1,370 · +5.2% YoY. Source: county tax records.