705 Mechanic St · Osage, IA 50461

$159,880

3 bd · 2.5 ba · 2,172 sqft · SingleFamily public records · 8 Days on market

Built 1869 0.34 ac lot $74/sqft · 11% below area Est $181k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.7/15.0
• Cash flow +9.3/30.0
• Schools +6.1/10.0
• Livability +4.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attractive 4 bedroom, 2-1/2 bath on large corner lot with double garage in very convenient location near public daycare, elementary school, grocery store, and shopping and eating venues. Has bedroom, 1-1/2 baths, and laundry on the main floor, nice oak kitchen, formal dining, & attractive covered porches. Both the home and the garage have new roofs and seamless gutters were installed on the home. You can take immediate possession on this one.

Key facts

• Huge walk-in closet
• Formal dining room
• Large corner lot

Tags

• LARGE CORNER LOT
• MODERN STYLE OPEN DESIGN
• FORMAL DINING ROOM
• BUILT-IN GLASS DISPLAY CABINET
• MAIN FLOOR LAUNDRY
• HUGE WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Has carport (2 spaces); Detached garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Residential single-family home
• Construction: Stucco exterior; Shingle (asphalt) roof; Basement: crawl space, partially finished with interior entry
• Exterior features: Covered, enclosed patio/porch; Landscaped yard; Corner lot; Level lot

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Microwave
• Bathrooms: One full bathroom; One three-quarter bathroom; One half bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced-air heating; Natural gas heating
• Interior features: Water softener (owned); Electric water heater; No fireplace reported
• Laundry & utility: Washer and dryer included; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (26.2% below list).
• Recommended offer: $118k (26.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#80 in IA, #1,667 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Osage Community School District (town): math 68% / reading 76% proficiency, ranked #108 of 289 in IA (top 37%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Osage Middle School (math 68% / reading 82%, grade A, #72 of 246 statewide, top 30%, 268 students, 33% FRL); Osage High School (math 63% / reading 77%, grade B+, #146 of 336 statewide, top 45%, 313 students, 26% FRL).
• Market conditions: 43 active listings in the ZIP; 41 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mitchell County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $132k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1869 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,001 (26.2% below list)

Questions for the listing agent

1. 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?
2. Built in 1869 — 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 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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.15%
• DSCR: 0.86
• GRM: 11.3

CMA / ARV

• ARV (median comp): $180,587
• List price: $159,880
• Delta: -11.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Ash St St	0.11mi	4/2.0 (+1)	2,106 (-3%)	9mo	$207,000	$98	75
421 State St	0.31mi	3/2.5	2,040 (-6%)	10mo	$137,000	$67	68
1027 Sunshine Ave	0.51mi	3/2.0	2,238 (+3%)	4mo	$218,000	$97	66
809 Mechanic St	0.10mi	4/2.0 (+1)	1,879 (-14%)	2mo	$75,000	$40	64
1105 Pleasant St	0.44mi	4/2.0 (+1)	2,064 (-5%)	1mo	$247,000	$120	63
220 Pleasant St	0.51mi	2/2.0 (-1)	2,207 (+2%)	5mo	$205,000	$93	63
1115 Sunshine Ave	0.55mi	3/1.5	2,065 (-5%)	5mo	$237,000	$115	58
1033 Mechanic St	0.32mi	4/1.5 (+1)	1,990 (-8%)	10mo	$170,000	$85	54
19 Maple Ln	0.31mi	3/2.0	1,850 (-15%)	10mo	$169,000	$91	51
506 S 3rd St	0.59mi	3/1.0	1,972 (-9%)	1mo	$365,000	$185	50
914 Poplar St St	0.36mi	4/2.5 (+1)	2,486 (+14%)	10mo	$317,500	$128	46
1208 Oak St	0.58mi	4/2.0 (+1)	2,414 (+11%)	10mo	$235,000	$97	39

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: -21.6%
• Equity multiple: 0.25×
• Total profit: $-33,407
• Equity at exit: $23,839

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-38,793
• Equity at exit: $13,824

Cash invested: $44,766 (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 50461

• Home prices YoY: -22.9%
• Active inventory: 43
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$838
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $-118

Break-even live

Break-even rent $1,329

Max offer price $139,122

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-72	+0% $-118	+5% $-163	+10% $-208
Rent	-10% $-211	-5% $-164	+0% $-118	+5% $-71	+10% $-24
Rate	-1.0pp $-37	-0.5pp $-77	base $-118	+0.5pp $-159	+1.0pp $-201

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: $39,970
• Closing costs: $4,796
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-08
   status Pending 1160-char remark
2. 2026-05-01
   listed $159,880 Active 1160-char remark
3. 2023-01-20
   soldstatus $132,000 Closed 451-char remark

   Show marketing remark (451 chars)

   Attractive 4 bedroom, 2-1/2 bath on large corner lot with double garage in very convenient location near public daycare, elementary school, grocery store, and shopping and eating venues. Has bedroom, 1-1/2 baths, and laundry on the main floor, nice oak kitchen, formal dining, & attractive covered porches. Both the home and the garage have new roofs and seamless gutters were installed on the home. You can take immediate possession on this one.

4. 2023-01-20
   soldstatus $132,000

   Show marketing remark (451 chars)

   Attractive 4 bedroom, 2-1/2 bath on large corner lot with double garage in very convenient location near public daycare, elementary school, grocery store, and shopping and eating venues. Has bedroom, 1-1/2 baths, and laundry on the main floor, nice oak kitchen, formal dining, & attractive covered porches. Both the home and the garage have new roofs and seamless gutters were installed on the home. You can take immediate possession on this one.

5. 2022-12-06
   status Pending 451-char remark

   Show marketing remark (451 chars)

   Attractive 4 bedroom, 2-1/2 bath on large corner lot with double garage in very convenient location near public daycare, elementary school, grocery store, and shopping and eating venues. Has bedroom, 1-1/2 baths, and laundry on the main floor, nice oak kitchen, formal dining, & attractive covered porches. Both the home and the garage have new roofs and seamless gutters were installed on the home. You can take immediate possession on this one.

6. 2022-12-01
   listed $136,000 Active 451-char remark

   Show marketing remark (451 chars)

   Attractive 4 bedroom, 2-1/2 bath on large corner lot with double garage in very convenient location near public daycare, elementary school, grocery store, and shopping and eating venues. Has bedroom, 1-1/2 baths, and laundry on the main floor, nice oak kitchen, formal dining, & attractive covered porches. Both the home and the garage have new roofs and seamless gutters were installed on the home. You can take immediate possession on this one.

7. 2014-11-03
   soldstatus $83,000

ⓘ 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: $1,736 · $145/mo
• Projected year-2 tax: $2,123 · $177/mo
• Expected delta: +$387/yr (+$32/mo · 22.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $14,160
• − Mortgage interest: −$8,956
• − Property taxes: −$1,736
• − Insurance: −$799
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$4,651
• Taxable loss: −$4,248
• Est. tax savings @ 24.0%: +$1,019
• After-tax cash flow: $-391/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: Osage Community School District
• NCES district ID: 1921840
• Math proficiency: 68% ▼ -1.00%
• Reading proficiency: 76% ▲ 9.00%
• Median HH income: $51,488
• Composite: 61.14/100
• National rank: #784
• State rank: #108 of 289 in IA

Livability — Osage

• Score: 80/100
• State rank: #80
• US rank: #1667

Category grades

Amenities F 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: Osage, IA
• Population (ZIP): 5,094

Population outlook (Mitchell County) Hauer SSP2

• Today (2025): 10,729 people
• By 2030: 10,702 · -0.3%
• By 2040: 10,632 · -0.9%
• By 2050: 10,346 · -3.6%
• By 2075: 9,770 · -8.9%
• By 2100: 8,351 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 1% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 16% Lithuanian 2% Scandinavian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Mitchell

• 2024 margin: Solid R (+31.1) · D 33.8% · R 64.9% · Other 1.4%
• 2008→2024 swing: -43.5pp toward R · 2008: 12.3pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+27.9 2016: R+24.3 2012: D+3.4 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.47%
• Current HPI: 233.9644
• 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

+92.6% since first listed

7 events — show timeline

• 2026-05-08 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-01 Listed $159,880 NEIRBR as distributed by MLS GRID
• 2023-01-20 Sold (Public Records) $132,000 Public Records
• 2023-01-20 Sold (MLS) $132,000 NEIRBR as distributed by MLS GRID
• 2022-12-06 Pending — NEIRBR as distributed by MLS GRID
• 2022-12-01 Listed $136,000 NEIRBR as distributed by MLS GRID
• 2014-11-03 Sold (Public Records) $83,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,736 · +6.6% YoY. Source: county tax records.