204 N 8th St · Oskaloosa, IA 52577

$69,900

3 bd · 3.0 ba · 2,366 sqft · SingleFamily public records · 47 Days on market

Built 1900 7,405 sqft lot

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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 +5.4/10.0
• 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

Large home on a corner lot with endless possibilities!!! This home is a work in progress with so much potential. New roof 2019, upgraded electrical, new waterlines, new waste lines. With 3 bedrooms and 2 baths, a beautiful open stairway and transom windows above bedroom doors. Master has large walk-in closet. Laundry located on the second floor. Call today to see this house that is waiting for you to make it HOME!

Key facts

• 7,405 sq ft lot
• Garage
• Built 1900

Tags

• ALL APPLIANCES WILL REMAIN

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 4.8% in Oskaloosa — 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 81/100 on livability (#57 in IA, #1,325 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Oskaloosa Community School District (rural): math 62% / reading 67% proficiency, ranked #208 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 13 units permitted in Mahaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mahaska County population projected at -10% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1900 — 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 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?
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: 1.94% ✓
• Cap rate: 16.42%
• Cash-on-cash: 36.16%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $215,306
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
462 N 9th St	0.30mi	3/2.0	2,288 (-3%)	3mo	$209,250	$91	74
409 N 3rd St	0.38mi	4/2.5 (+1)	2,521 (+7%)	1mo	$174,900	$69	63
310 N 8th St	0.09mi	3/2.0	2,054 (-13%)	8mo	$259,000	$126	63
110 North 4th St	0.25mi	4/1.0 (+1)	2,302 (-3%)	12mo	$63,750	$28	61
1008 1st Ave E	0.18mi	3/2.0	2,639 (+12%)	10mo	$238,500	$90	59
714 1st Ave E	0.18mi	4/2.5 (+1)	2,058 (-13%)	6mo	$210,000	$102	58
212 N 8th St	0.04mi	4/2.0 (+1)	2,017 (-15%)	12mo	$214,900	$107	54
401 K Ave E	0.65mi	4/2.0 (+1)	2,406 (+2%)	9mo	$103,000	$43	50
516 2nd Ave E	0.30mi	4/1.5 (+1)	2,044 (-14%)	7mo	$150,000	$73	46
1315 N 3rd St N	0.74mi	3/1.0	2,176 (-8%)	7mo	$185,000	$85	38
411 C Ave W	0.75mi	2/2.0 (-1)	2,102 (-11%)	3mo	$245,000	$117	35
510 N C St	0.72mi	4/2.5 (+1)	2,578 (+9%)	12mo	$235,000	$91	35

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: 31.9%
• Equity multiple: 2.34×
• Total profit: $26,261
• Equity at exit: $10,422

10-year hold

• IRR: 39.0%
• Equity multiple: 4.64×
• Total profit: $71,325
• Equity at exit: $6,044

Cash invested: $19,572 (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 52577

• Home prices YoY: -25.4%
• Active inventory: 71
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $590

Break-even live

Break-even rent $612

Max offer price $69,900

Occupancy floor 52%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-03-23
   status Pending
2. 2026-03-06
   price $69,900
3. 2026-02-25
   price $74,900
4. 2026-02-23
   price $79,900
5. 2026-02-04
   listed $89,900 Active
6. 2021-07-27
   soldstatus $50,000
7. 2021-07-26
   soldstatus $49,900 417-char remark

   Show marketing remark (417 chars)

   Large home on a corner lot with endless possibilities!!! This home is a work in progress with so much potential. New roof 2019, upgraded electrical, new waterlines, new waste lines. With 3 bedrooms and 2 baths, a beautiful open stairway and transom windows above bedroom doors. Master has large walk-in closet. Laundry located on the second floor. Call today to see this house that is waiting for you to make it HOME!

8. 2020-09-16
   listed $49,900 417-char remark

   Show marketing remark (417 chars)

   Large home on a corner lot with endless possibilities!!! This home is a work in progress with so much potential. New roof 2019, upgraded electrical, new waterlines, new waste lines. With 3 bedrooms and 2 baths, a beautiful open stairway and transom windows above bedroom doors. Master has large walk-in closet. Laundry located on the second floor. Call today to see this house that is waiting for you to make it HOME!

9. 2016-12-13
   soldstatus $51,000 315-char remark

   Show marketing remark (315 chars)

   If you're looking for a great big home with all of the quaint qualities, this is it. Built in 1900 this home is full of possibility. Needs some updating but the possibilities are endless. Open stairway, large bedrooms, many closets, kitchenette upstairs. This house priced under assessed value. All appliances stay.

10. 2016-07-19
    listed $54,900 315-char remark

    Show marketing remark (315 chars)

    If you're looking for a great big home with all of the quaint qualities, this is it. Built in 1900 this home is full of possibility. Needs some updating but the possibilities are endless. Open stairway, large bedrooms, many closets, kitchenette upstairs. This house priced under assessed value. All appliances stay.

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,078 · $90/mo
• Expected delta: +$20/yr (+$2/mo · 1.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $16,309
• − Mortgage interest: −$3,915
• − Property taxes: −$1,058
• − Insurance: −$350
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$2,033
• Taxable income: $6,343
• Est. tax owed @ 24.0%: −$1,522
• After-tax cash flow: $5,556/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: Oskaloosa Community School District
• NCES district ID: 1921870
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 67% ▬ 0.00%
• Median HH income: $44,362
• Composite: 54.26/100
• National rank: #1373
• State rank: #208 of 289 in IA

Livability — Oskaloosa

• Score: 81/100
• State rank: #57
• US rank: #1325

Category grades

Amenities D- 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: Oskaloosa, IA
• Population (ZIP): 14,336

Population outlook (Mahaska County) Hauer SSP2

• Today (2025): 22,032 people
• By 2030: 21,682 · -1.6%
• By 2040: 20,750 · -5.8%
• By 2050: 19,800 · -10.1%
• By 2075: 17,839 · -19.0%
• By 2100: 15,829 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Iranian 8% Italian 3% Portuguese 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Mahaska

• 2024 margin: Solid R (+51.6) · D 23.6% · R 75.2% · Other 1.1%
• 2008→2024 swing: -35.1pp toward R · 2008: -16.5pp · 2024: -51.6pp
• All cycles: 2024: R+51.6 2020: R+47.4 2016: R+45.7 2012: R+20.5 2008: R+16.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.78%
• Current HPI: 239.9131
• 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

+27.3% since first listed

10 events — show timeline

• 2026-03-23 Pending — IAR
• 2026-03-06 Price Changed $69,900 IAR
• 2026-02-25 Price Changed $74,900 IAR
• 2026-02-23 Price Changed $79,900 IAR
• 2026-02-04 Listed $89,900 IAR
• 2021-07-27 Sold (Public Records) $50,000 Public Records
• 2021-07-26 Sold (MLS) $49,900 IAR
• 2020-09-16 Listed $49,900 IAR
• 2016-12-13 Sold (MLS) $51,000 IAR
• 2016-07-19 Listed $54,900 IAR

Property tax history

-2.9%/yr

Latest (2025): $1,058 · +0.8% YoY. Source: county tax records.