1521 600th St · Quimby, IA 51012

$64,900

2 bd · 1.5 ba · 1,104 sqft · SingleFamily public records · 51 Days on market

Built 1966 0.57 ac lot $59/sqft · 53% below area

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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 +5.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

Key facts

• Expansion potential
• Multi-use space
• Walk-out basement

Tags

• WALK-OUT BASEMENT
• PRIVATE SETTING
• EXPANSION POTENTIAL
• MULTI-USE SPACE
• SHOP AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#854 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, employment C-, health & safety D.
• River Valley Community School District (rural): math 60% / reading 63% proficiency, ranked #238 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 43 active listings in the ZIP; 10 units permitted in Cherokee 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.
• Cherokee County population projected at -23% 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $18k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.66% ✓
• Cap rate: 13.40%
• Cash-on-cash: 25.40%
• DSCR: 2.13
• GRM: 5.0

CMA / ARV

• ARV (median comp): $213,453
• List price: $64,900
• Delta: -69.60%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 19.0%
• Equity multiple: 1.77×
• Total profit: $14,006
• Equity at exit: $9,677

10-year hold

• IRR: 27.3%
• Equity multiple: 3.41×
• Total profit: $43,853
• 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 51012

• Home prices YoY: -21.1%
• Active inventory: 43
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$101 /mo · $1,212/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $385

Break-even live

Break-even rent $593

Max offer price $64,900

Occupancy floor 59%

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 16 events

1. 2026-05-18
   status Active 434-char remark

   Show marketing remark (434 chars)

   Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

2. 2026-04-24
   price $64,900 434-char remark

   Show marketing remark (434 chars)

   Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

3. 2026-04-15
   status Active 434-char remark

   Show marketing remark (434 chars)

   Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

4. 2026-04-04
   status Pending 434-char remark

   Show marketing remark (434 chars)

   Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

5. 2026-02-18
   listed $82,450 Active 434-char remark

   Show marketing remark (434 chars)

   Cozy Two-Bedroom Ranch with Oversized Garage & Walk-Out Basement in a private setting. This two-bedroom ranch offers the perfect blend of comfort, functionality, and expansion potential. Set on a gentle slope, the home features a full walk-out basement that opens up to the backyard, ideal for future finishing or creating a multi-use space. The property also features a large two car garage and shop area attached to the house.

6. 2026-01-06
   price $82,450
7. 2026-01-03
   status Active
8. 2025-11-26
   price $87,300
9. 2025-11-12
   price $92,150
10. 2025-11-07
    status Active
11. 2025-10-17
    status Pending
12. 2025-10-01
    price $97,000
13. 2025-09-04
    listed $160,200 Active
14. 2025-07-30
    price $160,200
15. 2025-07-02
    price $169,100
16. 2025-06-03
    listed $178,000 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: $1,212 · $101/mo
• Projected year-2 tax: $1,212 · $101/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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $12,957
• − Mortgage interest: −$3,635
• − Property taxes: −$1,212
• − Insurance: −$324
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$1,888
• Taxable income: $3,824
• Est. tax owed @ 24.0%: −$918
• After-tax cash flow: $3,697/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: River Valley Community School District
• NCES district ID: 1910340
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $43,677
• Composite: 51.71/100
• National rank: #1686
• State rank: #238 of 289 in IA

Livability — Quimby

• Score: 59/100
• State rank: #854
• US rank: #19737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 469
• Population (ZIP): 6,313

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Iranian 3% Slovak 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Asian/Pacific 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.34%
• Current HPI: 221.5831
• 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

-63.5% since first listed

16 events — show timeline

• 2026-05-18 Relisted — NWIA
• 2026-04-24 Price Changed $64,900 NWIA
• 2026-04-15 Relisted — NWIA
• 2026-04-04 Pending — NWIA
• 2026-02-18 Listed $82,450 NWIA
• 2026-01-06 Price Changed $82,450 NWIA
• 2026-01-03 Relisted — NWIA
• 2025-11-26 Price Changed $87,300 NWIA
• 2025-11-12 Price Changed $92,150 NWIA
• 2025-11-07 Relisted — NWIA
• 2025-10-17 Pending — NWIA
• 2025-10-01 Price Changed $97,000 NWIA
• 2025-09-04 Listed $160,200 NWIA
• 2025-07-30 Price Changed $160,200 NWIA
• 2025-07-02 Price Changed $169,100 NWIA
• 2025-06-03 Listed $178,000 NWIA

Property tax history

+2.3%/yr

Latest (2025): $1,212 · +3.2% YoY. Source: county tax records.