211 N Shuffleton St

Sigourney, IA 52591

$170,000D+

3 bd · 1.5 ba · 2,830 sqft · Built 1900 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$278
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-159/mo
• Annual: $-1,912/yr
• Cap rate: 5.17%
• Cash-on-cash: -4.02%
• DSCR: 0.82
• 1% rule: 0.75%
• Cash to close: $47,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $170k.
• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (24.8% below list).
• It's been on market 53 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (24.8% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#108 in IA, #2,086 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sigourney Community School District (rural): math 76% / reading 68% proficiency, ranked #122 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Sigourney Elementary (math 82% / reading 57%, grade A-, #224 of 616 statewide, top 42%, 323 students, 39% FRL); Sigourney Jr-Sr High Sch (math 72% / reading 75%, grade B+, #108 of 336 statewide, top 33%, 270 students, 34% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.