910 E St · Hamburg, IA 51640

$15,500

3 bd · 2.0 ba · 2,337 sqft · SingleFamily public records · 20 Days on market

Built 1900

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two Story With 3 Bedrooms, 3 Bathrooms, 2 Car Detached Garage house needs complete renovation sold as is

Key facts

• Built 1900
• Listed 20 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#288 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Hamburg Community School District (rural): math 70% / reading 70% proficiency, ranked #187 of 330 in IA (top 57%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 7 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($107 loan paydown + $2k appreciation (10.0% local appreciation)).
• Fremont County population projected at -33% 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 $4k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,267 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 6.62% ✓
• Cap rate: 59.19%
• Cash-on-cash: 188.91%
• DSCR: 9.41
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 74.2%
• Equity multiple: 6.29×
• Total profit: $22,943
• Equity at exit: $13,964

10-year hold

• IRR: 68.4%
• Equity multiple: 14.14×
• Total profit: $57,022
• Equity at exit: $30,113

Cash invested: $4,340 (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 51640

• Home prices YoY: 14.1%
• Active inventory: 11
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$81
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$6
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $223

Break-even live

Break-even rent $744

Max offer price $15,500

Occupancy floor 73%

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: $3,875
• Closing costs: $465
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-15
   days on market $15,500 Active 20 DOM
2. 2026-06-13
   days on market $15,500 Active 18 DOM
3. 2026-06-12
   days on market $15,500 Active 17 DOM
4. 2026-06-09
   days on market $15,500 Active 14 DOM
5. 2026-06-08
   days on market $15,500 Active 13 DOM
6. 2026-06-07
   days on market $15,500 Active 12 DOM
7. 2026-06-07
   days on market $15,500 Active 11 DOM
8. 2026-06-04
   days on market $15,500 Active 8 DOM
9. 2026-06-02
   days on market $15,500 Active 7 DOM
10. 2026-06-01
    days on market $15,500 Active 6 DOM
11. 2026-05-31
    days on market $15,500 Active 5 DOM
12. 2026-05-31
    days on market $15,500 Active 4 DOM
13. 2026-05-26
    listed $15,500 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: $478 · $40/mo
• Projected year-2 tax: $478 · $40/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 6/10 Major FEMA zone AE · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°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: $12,316
• − Mortgage interest: −$868
• − Property taxes: −$478
• − Insurance: −$5,602
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$451
• Taxable income: $2,946
• Est. tax owed @ 24.0%: −$707
• After-tax cash flow: $1,967/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: Hamburg Community School District
• NCES district ID: 1913440
• Math proficiency: 70% ▼ -5.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $42,678
• Composite: 59.87/100
• National rank: #1818
• State rank: #187 of 330 in IA

Livability — Hamburg

• Score: 73/100
• State rank: #288
• US rank: #5552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamburg, IA
• Population (ZIP): 1,445

Population outlook (Fremont County) Hauer SSP2

• Today (2025): 6,095 people
• By 2030: 5,632 · -7.6%
• By 2040: 4,806 · -21.1%
• By 2050: 4,106 · -32.6%
• By 2075: 2,947 · -51.6%
• By 2100: 2,205 · -63.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Fremont

• 2024 margin: Solid R (+44.6) · D 27.0% · R 71.6% · Other 1.4%
• 2008→2024 swing: -41.0pp toward R · 2008: -3.6pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+42.3 2016: R+40.6 2012: R+9.2 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.63%
• Current HPI: 231.4701
• 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

1 event — show timeline

• 2026-05-26 Listed $15,500 FSBO.com

Property tax history

-8.4%/yr

Latest (2025): $478 · -1.4% YoY. Source: county tax records.