1621 Durant St · Harlan, IA 51537

$179,900

3 bd · 2.5 ba · 1,562 sqft · SingleFamily public records · 46 Days on market

Built 1964 $115/sqft · 14% below area Est $236k · 24% 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 +15.0/15.0
• Cash flow +8.0/30.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold Before Print

Key facts

• Walkout basement
• Utility shed
• Patio

Tags

• COMPOSITE DECK
• PATIO
• WALKOUT BASEMENT
• UTILITY SHED
• NEW ROOF
• NEW A C UNIT

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; One-story; Frame construction
• Construction: Frame construction; Composition roof; Finished walk-out full basement
• Exterior features: Patio; Deck; Sidewalks; Concrete road access; Storage/outbuilding on property

Interior

• Flooring: Wood flooring
• Heating & cooling: Natural gas forced-air heating; Central air; Electric cooling; Ceiling fan(s)
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Washer hookup in basement; Basement laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (25.5% below list).
• Recommended offer: $134k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 4.0% in Harlan — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#79 in IA, #1,656 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Harlan Community School District (town): math 72% / reading 77% proficiency, ranked #81 of 289 in IA (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Harlan Primary (369 students, 44% FRL); Harlan Community Middle School (math 70% / reading 81%, grade A, #65 of 246 statewide, top 29%, 342 students, 36% FRL); Harlan High School (math 77% / reading 82%, grade A-, #34 of 336 statewide, top 14%, 477 students, 31% FRL).
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Shelby 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.
• Shelby County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $140k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $134,100 (25.5% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.31%
• DSCR: 0.81
• GRM: 11.2

CMA / ARV

• ARV (median comp): $235,783
• List price: $179,900
• Delta: -23.70%
• 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
1613 Farnam St	0.19mi	3/2.0	1,532 (-2%)	12mo	$240,000	$157	76
1203 Durant St	0.42mi	3/2.5	1,544 (-1%)	11mo	$192,000	$124	69
2008 18th St	0.53mi	4/2.0 (+1)	1,581 (+1%)	2mo	$215,000	$136	65
1401 College Blvd	0.56mi	3/2.0	1,622 (+4%)	7mo	$185,000	$114	60
503 12th St St	0.60mi	3/3.0	1,396 (-11%)	1mo	$298,000	$213	52
1509 Linda Ln	0.45mi	3/1.5	1,713 (+10%)	10mo	$184,500	$108	50
2009 Franklin Ave	0.59mi	2/2.0 (-1)	1,719 (+10%)	4mo	$168,000	$98	45
1008 Baldwin St	0.56mi	3/1.5	1,717 (+10%)	11mo	$70,000	$41	44
805 Baldwin St	0.70mi	4/2.5 (+1)	1,694 (+8%)	9mo	$234,900	$139	41
1102 Hill St	0.56mi	2/2.0 (-1)	1,750 (+12%)	8mo	$103,000	$59	40
1216 Garfield Ave	0.72mi	2/2.5 (-1)	1,430 (-8%)	11mo	$265,000	$185	38
1320 Garfield Ave	0.66mi	3/3.0	1,347 (-14%)	8mo	$212,000	$157	38

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: -23.6%
• Equity multiple: 0.19×
• Total profit: $-40,660
• Equity at exit: $26,824

10-year hold

• IRR: -18.4%
• Equity multiple: 0.00×
• Total profit: $-50,174
• Equity at exit: $15,554

Cash invested: $50,372 (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 51537

• Home prices YoY: -26.9%
• Active inventory: 35
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-181

Break-even live

Break-even rent $1,570

Max offer price $147,928

Occupancy floor —

Sensitivity live

Price	-10% $-79	-5% $-130	+0% $-181	+5% $-232	+10% $-283
Rent	-10% $-287	-5% $-234	+0% $-181	+5% $-128	+10% $-75
Rate	-1.0pp $-90	-0.5pp $-135	base $-181	+0.5pp $-228	+1.0pp $-275

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 Gary Scull Dr Unit 12-405 Harlan, IA	3.0	2.0	1738	$1,400	$0.81	45d	1	0.97mi
611 Gary Scull Dr Unit 10-305 Harlan, IA	3.0	2.0	1738	$1,282	$0.74	45d	1	0.97mi

Listing history 26 events

1. 2026-06-21
   days on market $179,900 Active 46 DOM
2. 2026-06-21
   days on market $179,900 Active 45 DOM
3. 2026-06-18
   days on market $179,900 Active 43 DOM
4. 2026-06-17
   days on market $179,900 Active 42 DOM
5. 2026-06-16
   days on market $179,900 Active 41 DOM
6. 2026-06-15
   days on market $179,900 Active 40 DOM
7. 2026-06-13
   days on market $179,900 Active 38 DOM
8. 2026-06-12
   days on market $179,900 Active 37 DOM
9. 2026-06-09
   days on market $179,900 Active 34 DOM
10. 2026-06-08
    days on market $179,900 Active 33 DOM
11. 2026-06-07
    days on market $179,900 Active 32 DOM
12. 2026-06-05
    days on market $179,900 Active 30 DOM
13. 2026-06-04
    days on market $179,900 Active 28 DOM
14. 2026-06-02
    days on market $179,900 Active 27 DOM
15. 2026-06-01
    days on market $179,900 Active 26 DOM
16. 2026-05-31
    days on market $179,900 Active 25 DOM
17. 2026-05-31
    days on market $179,900 Active 24 DOM
18. 2026-05-06
    listed $179,900 Active 593-char remark
19. 2021-09-03
    soldstatus $140,000
20. 2021-09-02
    soldstatus $140,000 17-char remark

    Show marketing remark (733 chars)

    ACCEPTED OFFER WITH CONTINGENCIES. Come see this move-in-ready 4 bedroom home. The split-level home has 1572 sq feet of finished living space. The main level features 3 bedrooms and a bathroom. A large bay window brings in a lot of natural light on the main floor. There are oak cabinets in the kitchen and the appliances (stove, microwave, refrigerator, and dishwasher) are all included. The basement features a spacious living room with a wet bar, a huge laundry room, and a second bathroom. There is a bedroom with a walk-out to the back yard where you'll find a storage shed, concrete patio, composite deck, and several established gardens and flower beds. The home has a great location not far from the Harlan Community schools.

21. 2021-09-02
    soldstatus $140,000

    Show marketing remark (733 chars)

    ACCEPTED OFFER WITH CONTINGENCIES. Come see this move-in-ready 4 bedroom home. The split-level home has 1572 sq feet of finished living space. The main level features 3 bedrooms and a bathroom. A large bay window brings in a lot of natural light on the main floor. There are oak cabinets in the kitchen and the appliances (stove, microwave, refrigerator, and dishwasher) are all included. The basement features a spacious living room with a wet bar, a huge laundry room, and a second bathroom. There is a bedroom with a walk-out to the back yard where you'll find a storage shed, concrete patio, composite deck, and several established gardens and flower beds. The home has a great location not far from the Harlan Community schools.

22. 2021-08-08
    listed $139,900 17-char remark

    Show marketing remark (17 chars)

    Sold Before Print

23. 2021-07-13
    listed $139,900

    Show marketing remark (733 chars)

    ACCEPTED OFFER WITH CONTINGENCIES. Come see this move-in-ready 4 bedroom home. The split-level home has 1572 sq feet of finished living space. The main level features 3 bedrooms and a bathroom. A large bay window brings in a lot of natural light on the main floor. There are oak cabinets in the kitchen and the appliances (stove, microwave, refrigerator, and dishwasher) are all included. The basement features a spacious living room with a wet bar, a huge laundry room, and a second bathroom. There is a bedroom with a walk-out to the back yard where you'll find a storage shed, concrete patio, composite deck, and several established gardens and flower beds. The home has a great location not far from the Harlan Community schools.

24. 2019-07-05
    soldstatus $115,000
25. 2019-07-05
    soldstatus $115,000
26. 2019-04-11
    listed $119,900

ⓘ 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: $2,664 · $222/mo
• Projected year-2 tax: $2,744 · $229/mo
• Expected delta: +$80/yr (+$7/mo · 3.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $16,092
• − Mortgage interest: −$10,077
• − Property taxes: −$2,664
• − Insurance: −$900
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$5,233
• Taxable loss: −$5,357
• Est. tax savings @ 24.0%: +$1,286
• After-tax cash flow: $-886/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: Harlan Community School District
• NCES district ID: 1913500
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 77% ▼ -3.00%
• Median HH income: $48,557
• Composite: 62.95/100
• National rank: #656
• State rank: #81 of 289 in IA

Livability — Harlan

• Score: 80/100
• State rank: #79
• US rank: #1656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harlan, IA
• Population (ZIP): 6,480

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 11,637 people
• By 2030: 11,472 · -1.4%
• By 2040: 11,146 · -4.2%
• By 2050: 10,791 · -7.3%
• By 2075: 10,601 · -8.9%
• By 2100: 10,338 · -11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 3% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.2%
• 2008→2024 swing: -33.3pp toward R · 2008: -9.7pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+40.3 2016: R+42.9 2012: R+22.2 2008: R+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.04%
• Current HPI: 209.5911
• 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

+50.0% since first listed

9 events — show timeline

• 2026-05-06 Listed $179,900 SWIAR
• 2021-09-03 Sold (Public Records) $140,000 Public Records
• 2021-09-02 Sold (MLS) $140,000 IAR
• 2021-09-02 Sold (MLS) $140,000 SWIAR
• 2021-08-08 Listed $139,900 SWIAR
• 2021-07-13 Listed $139,900 IAR
• 2019-07-05 Sold (Public Records) $115,000 Public Records
• 2019-07-05 Sold (MLS) $115,000 IAR
• 2019-04-11 Listed $119,900 IAR

Property tax history

+4.2%/yr

Latest (2025): $2,664 · +3.0% YoY. Source: county tax records.