101 4 Street St SE · West Bend, IA 50597

$164,900

4 bd · 2.0 ba · 2,104 sqft · SingleFamily public records · 182 Days on market

Built 1934 9,148 sqft lot $78/sqft · 23% below area Est $213k · 23% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Schools +6.4/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.0/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing 4 bed, 2 bath, 5 car (heated!) 1.5 story on a corner lot. New interior paint and carpet/LVP. New stainless steel appliances. Remodeled 2nd floor bathroom includes a new shower, vanity, top. Walk in closets. Main floor bedroom with 3 more bedrooms on the 2nd floor. Office and family room in the basement. Beautiful wood floors. Many newer vinyl windows. FP

Key facts

• Office
• Remodeled bathroom
• Walk in closets

Tags

• CORNER LOT
• NEW INTERIOR PAINT
• NEW STAINLESS STEEL APPLIANCES
• REMODELED BATHROOM
• WALK IN CLOSETS
• OFFICE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (24.6% below list).
• Recommended offer: $124k (24.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#207 in IA, #3,770 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• West Bend-Mallard Community School District (rural): math 71% / reading 82% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $99k; list at $165k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,276 (24.6% 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 182 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 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• GRM: 11.1

CMA / ARV

• ARV (median comp): $213,453
• List price: $164,900
• Delta: -22.75%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 SW 8th St	0.40mi	4/3.0	1,946 (-8%)	9mo	$350,000	$180	58

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: 5.4%
• Equity multiple: 1.31×
• Total profit: $14,392
• Equity at exit: $74,146

10-year hold

• IRR: 8.4%
• Equity multiple: 2.27×
• Total profit: $58,859
• Equity at exit: $114,268

Cash invested: $46,172 (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 50597

• Active inventory: 8
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,243 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$134 /mo · $1,606/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-86

Break-even live

Break-even rent $1,351

Max offer price $149,793

Occupancy floor —

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $164,900 Active 182 DOM
2. 2026-06-17
   days on market $164,900 Active 181 DOM
3. 2026-06-16
   days on market $164,900 Active 180 DOM
4. 2026-06-15
   days on market $164,900 Active 179 DOM
5. 2026-06-13
   days on market $164,900 Active 177 DOM
6. 2026-06-12
   pricedays on market $164,900 Active 176 DOM
7. 2026-06-09
   days on market $169,900 Active 173 DOM
8. 2026-06-08
   days on market $169,900 Active 172 DOM
9. 2026-06-07
   days on market $169,900 Active 171 DOM
10. 2026-06-04
    days on market $169,900 Active 167 DOM
11. 2026-06-02
    days on market $169,900 Active 166 DOM
12. 2026-06-01
    days on market $169,900 Active 165 DOM
13. 2026-05-31
    days on market $169,900 Active 164 DOM
14. 2025-12-17
    listed $175,000 Active 364-char remark

    Show marketing remark (364 chars)

    Amazing 4 bed, 2 bath, 5 car (heated!) 1.5 story on a corner lot. New interior paint and carpet/LVP. New stainless steel appliances. Remodeled 2nd floor bathroom includes a new shower, vanity, top. Walk in closets. Main floor bedroom with 3 more bedrooms on the 2nd floor. Office and family room in the basement. Beautiful wood floors. Many newer vinyl windows. FP

15. 2018-02-13
    soldstatus $99,000

ⓘ 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: $1,606 · $134/mo
• Projected year-2 tax: $2,097 · $175/mo
• Expected delta: +$491/yr (+$41/mo · 30.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $14,913
• − Mortgage interest: −$9,237
• − Property taxes: −$1,606
• − Insurance: −$824
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$4,797
• Taxable loss: −$3,938
• Est. tax savings @ 24.0%: +$945
• After-tax cash flow: $-81/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: West Bend-Mallard Community School District
• NCES district ID: 1930720
• Math proficiency: 71% ▲ 1.00%
• Reading proficiency: 82% ▲ 7.00%
• Median HH income: $45,858
• Composite: 64.32/100
• National rank: #554
• State rank: #64 of 289 in IA

Livability — West Bend

• Score: 76/100
• State rank: #207
• US rank: #3770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Bend, IA
• Population (ZIP): 1,363

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 10% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 5% Portuguese 5% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+76.8% since first listed

2 events — show timeline

• 2025-12-17 Listed $175,000 NWIA
• 2018-02-13 Sold (Public Records) $99,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,606 · +0.9% YoY. Source: county tax records.