109 Oak St · Silver City, IA 51571

$107,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 42 Days on market

Built 1890 0.34 ac lot $98/sqft · 40% below area Est $178k · 40% 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).

• Cash flow +20.2/30.0
• ARV discount +15.0/15.0
• Schools +6.7/10.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, diswasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

Key facts

• 0.34 acre lot
• Built 1890
• Listed 42 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No on-site parking
• Utilities: Public water; Public sewer
• Home design: One and one-half story single-family residence; Residential property; HardiPlank-type siding
• Construction: HardiPlank-type exterior; One and one-half story construction
• Exterior features: Lot approximately 0.34 acres (100 x 150)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Basement present; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#645 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools F, amenities F, commute F.
• Glenwood Community School District (town): math 79% / reading 76% proficiency, ranked #38 of 289 in IA (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 6 active listings in the ZIP; 39 units permitted in Mills County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mills County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $107k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,790 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $177,949
• List price: $107,000
• Delta: -39.87%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Oak St	0.03mi	4/1.0 (+1)	1,245 (+14%)	10mo	$130,810	$105	61
112 Park St	0.35mi	2/1.5 (-1)	1,200 (+10%)	12mo	$155,000	$129	49

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-8,670
• Equity at exit: $15,954

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $3,625
• Equity at exit: $9,251

Cash invested: $29,960 (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 51571

• Active inventory: 6
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $136

Break-even live

Break-even rent $911

Max offer price $107,000

Occupancy floor 82%

Sensitivity live

Price	-10% $197	-5% $166	+0% $136	+5% $106	+10% $75
Rent	-10% $50	-5% $93	+0% $136	+5% $179	+10% $222
Rate	-1.0pp $190	-0.5pp $163	base $136	+0.5pp $108	+1.0pp $80

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-16
   days on market $107,000 Active 42 DOM
2. 2026-06-15
   days on market $107,000 Active 41 DOM
3. 2026-06-13
   days on market $107,000 Active 39 DOM
4. 2026-06-10
   days on market $107,000 Active 36 DOM
5. 2026-06-09
   days on market $107,000 Active 35 DOM
6. 2026-06-08
   days on market $107,000 Active 34 DOM
7. 2026-06-07
   days on market $107,000 Active 33 DOM
8. 2026-06-03
   days on market $107,000 Active 29 DOM
9. 2026-06-03
   days on market $107,000 Active 28 DOM
10. 2026-06-01
    days on market $107,000 Active 27 DOM
11. 2026-05-31
    days on market $107,000 Active 26 DOM
12. 2026-05-13
    price $115,000 398-char remark
13. 2026-05-05
    listed $118,000 Active 398-char remark
14. 2019-06-28
    soldstatus $30,000
15. 2019-06-26
    soldstatus $30,000 501-char remark

    Show marketing remark (501 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, diswasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

16. 2019-06-25
    soldstatus $30,000

    Show marketing remark (502 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, dishwasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

17. 2019-06-25
    soldstatus $30,000

    Show marketing remark (502 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, dishwasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

18. 2019-06-01
    listed $35,000 501-char remark

    Show marketing remark (502 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, dishwasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

19. 2019-06-01
    listed $35,000

    Show marketing remark (502 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, dishwasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

20. 2019-06-01
    listed $35,000

    Show marketing remark (502 chars)

    * $16,400 under assessed value! * Two story home built in 1890, sits on a large private lot, on your way out of town! Newer tool shed, plus 2 other utility sheds included. 2 large bedrooms upstairs, eat-in kitchen, living room, den/office, full bath, and enclosed porch with laundry on the main floor. All appliances including, gas stove, dishwasher, refrigerator, washer and dryer stay. This is a Investor or Handyman special, home has good bones, original woodwork and is only 20 min to the metro.

ⓘ 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: $1,372 · $114/mo
• Projected year-2 tax: $1,526 · $127/mo
• Expected delta: +$154/yr (+$13/mo · 11.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,004
• − Mortgage interest: −$5,994
• − Property taxes: −$1,372
• − Insurance: −$535
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,113
• Taxable loss: −$90
• Est. tax savings @ 24.0%: +$22
• After-tax cash flow: $1,654/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: Glenwood Community School District
• NCES district ID: 1912690
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $64,166
• Composite: 66.96/100
• National rank: #396
• State rank: #38 of 289 in IA

Livability — Silver City

• Score: 63/100
• State rank: #645
• US rank: #14881

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver City, IA
• Population (ZIP): 858

Population outlook (Mills County) Hauer SSP2

• Today (2025): 14,342 people
• By 2030: 13,928 · -2.9%
• By 2040: 12,997 · -9.4%
• By 2050: 12,123 · -15.5%
• By 2075: 10,462 · -27.1%
• By 2100: 9,025 · -37.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 4% Asian 2%
• Common ancestry: Iranian 4% Italian 4% Lithuanian 3%
• Foreign-born: 2%

Political lean MEDSL · Mills

• 2024 margin: Solid R (+39.1) · D 29.9% · R 69.0% · Other 1.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -16.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+37.2 2016: R+39.0 2012: R+19.1 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.80%
• Current HPI: 115.6755
• 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

+205.7% since first listed

11 events — show timeline

• 2026-05-29 Price Changed $107,000 IAR
• 2026-05-20 Price Changed $110,000 IAR
• 2026-05-13 Price Changed $115,000 IAR
• 2026-05-05 Listed $118,000 IAR
• 2019-06-28 Sold (Public Records) $30,000 Public Records
• 2019-06-26 Sold (MLS) $30,000 SWIAR
• 2019-06-25 Sold (MLS) $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-25 Sold (MLS) $30,000 IAR
• 2019-06-01 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-01 Listed $35,000 IAR
• 2019-06-01 Listed $35,000 SWIAR

Property tax history

+5.4%/yr

Latest (2025): $1,372 · +8.5% YoY. Source: county tax records.