315 W Maple St · Ringsted, IA 50578

$12,500

4 bd · 2.0 ba · 1,449 sqft · SingleFamily public records · 69 Days on market

Built 1909 0.26 ac lot $9/sqft · 86% below area ↓ 59% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +6.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Calling all my investors and DIYers! We've got another great property just waiting to get the time and effort she deserves put back into her. Whether investing or looking to make it your own, this house has the potential to become a great home for anyone willing to do the work. She won't be here for long, so bring us your offers and let's work something out.

Key facts

• 0.26 acre lot
• Garage
• Built 1909

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $12k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#782 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime C-, health & safety C-, schools D+.
• North Union Community School District (rural): math 68% / reading 83% proficiency, ranked #73 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 2 active listings in the ZIP; 11 units permitted in Emmet County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $644 of equity ($86 loan paydown + $558 appreciation (4.5% local appreciation)).
• Emmet County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,750 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 9.51% ✓
• Cap rate: 89.27%
• Cash-on-cash: 296.35%
• DSCR: 14.19
• GRM: 0.9

CMA / ARV

• ARV (median comp): $91,457
• List price: $12,500
• Delta: -86.33%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

4.47% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.45×
• Total profit: $57,565
• Equity at exit: $6,681

10-year hold

• IRR: —
• Equity multiple: 37.18×
• Total profit: $126,637
• Equity at exit: $11,212

Cash invested: $3,500 (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 50578

• Home prices YoY: 4.9%
• Active inventory: 2
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$66
• Tax from tax record: −$4 /mo · $42/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $864

Break-even live

Break-even rent $94

Max offer price $12,500

Occupancy floor 22%

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-16
   days on market $12,500 Active 69 DOM
2. 2026-06-15
   days on market $12,500 Active 68 DOM
3. 2026-06-13
   days on market $12,500 Active 66 DOM
4. 2026-06-12
   days on market $12,500 Active 65 DOM
5. 2026-06-09
   days on market $12,500 Active 62 DOM
6. 2026-06-08
   days on market $12,500 Active 61 DOM
7. 2026-06-07
   days on market $12,500 Active 60 DOM
8. 2026-06-07
   pricedays on market $12,500 Active 59 DOM
9. 2026-06-04
   days on market $15,000 Active 56 DOM
10. 2026-06-02
    days on market $15,000 Active 55 DOM
11. 2026-06-01
    days on market $15,000 Active 54 DOM
12. 2026-05-31
    days on market $15,000 Active 53 DOM
13. 2026-05-31
    days on market $15,000 Active 52 DOM
14. 2026-04-22
    price $15,000 360-char remark

    Show marketing remark (360 chars)

    Calling all my investors and DIYers! We've got another great property just waiting to get the time and effort she deserves put back into her. Whether investing or looking to make it your own, this house has the potential to become a great home for anyone willing to do the work. She won't be here for long, so bring us your offers and let's work something out.

15. 2026-04-15
    price $17,500 360-char remark

    Show marketing remark (360 chars)

    Calling all my investors and DIYers! We've got another great property just waiting to get the time and effort she deserves put back into her. Whether investing or looking to make it your own, this house has the potential to become a great home for anyone willing to do the work. She won't be here for long, so bring us your offers and let's work something out.

16. 2026-04-08
    listed $20,900 Active 360-char remark

    Show marketing remark (360 chars)

    Calling all my investors and DIYers! We've got another great property just waiting to get the time and effort she deserves put back into her. Whether investing or looking to make it your own, this house has the potential to become a great home for anyone willing to do the work. She won't be here for long, so bring us your offers and let's work something out.

17. 2026-03-24
    price $32,900
18. 2026-03-19
    price $34,900
19. 2026-03-13
    listed $36,900 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: $42 · $4/mo
• Projected year-2 tax: $119 · $10/mo
• Expected delta: +$77/yr (+$6/mo · 183.6%)

ⓘ 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 2/10 Low 7 d/yr ≥99°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: $14,258
• − Mortgage interest: −$700
• − Property taxes: −$42
• − Insurance: −$62
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$364
• Taxable income: $10,808
• Est. tax owed @ 24.0%: −$2,594
• After-tax cash flow: $7,778/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: North Union Community School District
• NCES district ID: 1903850
• Math proficiency: 68% ▲ 8.00%
• Reading proficiency: 83% ▲ 8.00%
• Median HH income: $49,521
• Composite: 63.83/100
• National rank: #592
• State rank: #73 of 289 in IA

Livability — Ringsted

• Score: 61/100
• State rank: #782
• US rank: #17791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ringsted, IA
• Population (ZIP): 659

Population outlook (Emmet County) Hauer SSP2

• Today (2025): 9,084 people
• By 2030: 8,626 · -5.0%
• By 2040: 7,751 · -14.7%
• By 2050: 6,991 · -23.0%
• By 2075: 5,854 · -35.6%
• By 2100: 5,563 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 1%
• Common ancestry: Portuguese 11% Iranian 4% Lithuanian 2%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Emmet

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5% · Other 1.0%
• 2008→2024 swing: -48.0pp toward R · 2008: 3.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+36.0 2016: R+37.5 2012: R+8.9 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.47%
• Current HPI: 95.4991
• 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

-59.3% since first listed

6 events — show timeline

• 2026-04-22 Price Changed $15,000 Iowa Great Lakes BOR
• 2026-04-15 Price Changed $17,500 Iowa Great Lakes BOR
• 2026-04-08 Listed $20,900 Iowa Great Lakes BOR
• 2026-03-24 Price Changed $32,900 IAR
• 2026-03-19 Price Changed $34,900 IAR
• 2026-03-13 Listed $36,900 IAR

Property tax history

-20.0%/yr

Latest (2025): $42 · -25.0% YoY. Source: county tax records.