1102 Lake St · Emmetsburg, IA 50536

$75,000

4 bd · 2.0 ba · 1,843 sqft · SingleFamily public records · 233 Days on market

Built 1900 6,336 sqft lot $41/sqft · 43% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

Key facts

• In-room laundry
• Kitchenette area
• Primary en suite

Tags

• PRIMARY EN SUITE
• IN-ROOM LAUNDRY
• OPEN KITCHEN LIVING AREA
• ENCLOSED FRONT PORCH
• ORIGINAL STAIRCASE
• KITCHENETTE AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 2.4% in Emmetsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#31 in IA, #881 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Emmetsburg Community School District (town): math 64% / reading 71% proficiency, ranked #176 of 289 in IA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 47 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $10k; list at $75k implies a 659% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.54% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.55%
• DSCR: 1.74
• GRM: 5.4

CMA / ARV

• ARV (median comp): $161,321
• List price: $75,000
• Delta: -53.51%
• 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
804 Madison St	0.26mi	4/2.5	1,726 (-6%)	2mo	$155,000	$90	74
703 Superior St	0.53mi	4/2.0	1,872 (+2%)	1mo	$201,000	$107	72
1002 Call St	0.26mi	3/2.0 (-1)	1,745 (-5%)	2mo	$185,000	$106	72
1608 12th St	0.40mi	3/2.0 (-1)	1,802 (-2%)	4mo	$215,000	$119	69
1709 10th St	0.34mi	4/1.0	1,710 (-7%)	10mo	$47,500	$28	60
402 State St	0.58mi	3/2.0 (-1)	1,768 (-4%)	7mo	$220,000	$124	56
1502 Main St	0.50mi	3/1.5 (-1)	1,800 (-2%)	12mo	$169,000	$94	55
2209 Lawler St	0.73mi	3/2.5 (-1)	1,826 (-1%)	2mo	$135,000	$74	55
703 Des Moines St	0.42mi	3/2.0 (-1)	2,074 (+12%)	0mo	$150,000	$72	54
1001 Jefferson St	0.43mi	4/1.5	2,059 (+12%)	8mo	$195,000	$95	52
2808 1st St	0.73mi	4/2.0	1,764 (-4%)	12mo	$225,000	$128	49
2807 5th St	0.55mi	4/2.5	2,074 (+12%)	9mo	$328,850	$159	44

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: 7.8%
• Equity multiple: 1.30×
• Total profit: $6,380
• Equity at exit: $11,183

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $29,651
• Equity at exit: $6,485

Cash invested: $21,000 (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 50536

• Home prices YoY: -7.0%
• Active inventory: 47
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$200 /mo · $2,399/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $290

Break-even live

Break-even rent $790

Max offer price $75,000

Occupancy floor 70%

Sensitivity live

Price	-10% $332	-5% $311	+0% $290	+5% $268	+10% $247
Rent	-10% $198	-5% $244	+0% $290	+5% $335	+10% $381
Rate	-1.0pp $327	-0.5pp $309	base $290	+0.5pp $270	+1.0pp $250

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $75,000 Active 233 DOM
2. 2026-06-18
   days on market $75,000 Active 231 DOM
3. 2026-06-17
   days on market $75,000 Active 230 DOM
4. 2026-06-16
   days on market $75,000 Active 229 DOM
5. 2026-06-15
   days on market $75,000 Active 228 DOM
6. 2026-06-13
   days on market $75,000 Active 226 DOM
7. 2026-06-12
   days on market $75,000 Active 225 DOM
8. 2026-06-09
   days on market $75,000 Active 222 DOM
9. 2026-06-08
   days on market $75,000 Active 221 DOM
10. 2026-06-07
    days on market $75,000 Active 220 DOM
11. 2026-06-05
    days on market $75,000 Active 218 DOM
12. 2026-06-04
    days on market $75,000 Active 216 DOM
13. 2026-06-02
    days on market $75,000 Active 215 DOM
14. 2026-06-01
    days on market $75,000 Active 214 DOM
15. 2026-05-31
    days on market $75,000 Active 213 DOM
16. 2026-05-31
    days on market $75,000 Active 212 DOM
17. 2026-05-02
    status Active 649-char remark

    Show marketing remark (649 chars)

    Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

18. 2026-04-21
    historical Active Under Contract 649-char remark

    Show marketing remark (649 chars)

    Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

19. 2026-02-28
    status Active 649-char remark

    Show marketing remark (649 chars)

    Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

20. 2025-12-01
    historical Active Under Contract 649-char remark

    Show marketing remark (649 chars)

    Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

21. 2025-10-30
    listed $75,000 Active 649-char remark

    Show marketing remark (649 chars)

    Here is your opportunity to live on 1 level and rent out the other, as this house is already set up for a Duplex! The main floor has a primary en suite with a separate tub/shower & in-room laundry, open kitchen - living area, enclosed front porch, and the front Foyer has the original staircase that leads up to the 2nd floor. The upper Duplex has a kitchenette area, a living area with a bay window, 2 bedrooms, a 3/4 bath, and a 3rd non-conforming bedroom in the rear. The original staircase is present for the walk-up attic. There is an insulated double detached garage that has a furnace. A little TLC and this Victorian could be amazing!

22. 2024-01-23
    listed $89,900 Active
23. 2016-11-02
    soldstatus $9,875
24. 2006-12-21
    soldstatus $52,000

ⓘ 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: $2,399 · $200/mo
• Projected year-2 tax: $2,399 · $200/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,886
• − Mortgage interest: −$4,201
• − Property taxes: −$2,399
• − Insurance: −$375
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,182
• Taxable income: $2,507
• Est. tax owed @ 24.0%: −$602
• After-tax cash flow: $2,875/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: Emmetsburg Community School District
• NCES district ID: 1910950
• Math proficiency: 64% ▲ 2.00%
• Reading proficiency: 71% ▲ 7.00%
• Median HH income: $46,839
• Composite: 56.97/100
• National rank: #1110
• State rank: #176 of 289 in IA

Livability — Emmetsburg

• Score: 83/100
• State rank: #31
• US rank: #881

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: Emmetsburg, IA
• City population: 4,287
• Population (ZIP): 4,287

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1% Two or more races 1% Asian 1%
• Common ancestry: Portuguese 10% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 99% English-only · German/W. Germanic 1% Spanish 1%

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: ▼ -17.96%
• Current HPI: 237.1703
• 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

+44.2% since first listed

8 events — show timeline

• 2026-05-02 Relisted — Iowa Great Lakes BOR
• 2026-04-21 Contingent — Iowa Great Lakes BOR
• 2026-02-28 Relisted — Iowa Great Lakes BOR
• 2025-12-01 Contingent — Iowa Great Lakes BOR
• 2025-10-30 Listed $75,000 Iowa Great Lakes BOR
• 2024-01-23 Listed $89,900 Iowa Great Lakes BOR
• 2016-11-02 Sold (Public Records) $9,875 Public Records
• 2006-12-21 Sold (Public Records) $52,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $2,399 · +1.7% YoY. Source: county tax records.