806 11th St · Corning, IA 50841

$125,000

4 bd · 1.0 ba · 1,773 sqft · Other public records · 164 Days on market

Built 1925 $71/sqft · 20% above area Est $141k · 12% 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 +19.0/30.0
• ARV discount +12.7/15.0
• DSCR +6.0/10.0
• Schools +5.3/10.0
• Appreciation +4.9/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this charming 4-bedroom bungalow, offering the perfect blend of comfort and character. Situated on a desirable corner lot, this home provides extra space, and standout curb appeal. Recent updates provide peace of mind, including a newer roof, newer windows, and a freshly updated front porch that creates a warm, welcoming entrance. Inside, the home features a spacious living area filled with natural light, a functional kitchen ready for your personal touch, and four well-sized bedrooms offering flexibility for guests, a home office, or hobbies. Outside, enjoy the landscaped yard with plenty of room for gardening, entertaining, or simply relaxing. Whether you're starting out or settling in, this bungalow offers timeless charm just waiting for your personal touch! Don't miss the opportunity to make this lovely home your own!

Key facts

• Newer roof
• Newer windows
• Landscaped yard

Tags

• CORNER LOT
• NEWER ROOF
• NEWER WINDOWS
• UPDATED FRONT PORCH
• LANDSCAPED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (2.9% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#167 in IA, #3,006 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Corning Community School District (rural): math 60% / reading 66% proficiency, ranked #221 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Corning Elementary School (math 72% / reading 67%, grade A-, #224 of 616 statewide, top 42%, 211 students, 44% FRL); Southwest Valley High School (math 52% / reading 62%, grade C, #279 of 336 statewide, top 85%, 209 students, 43% FRL).
• Market conditions: 8 active listings in the ZIP; 5 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $594 of equity ($864 loan paydown + $-270 appreciation (-0.2% local appreciation)).
• Adams County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.97% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (median comp): $141,290
• List price: $125,000
• Delta: -11.53%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-0.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.10×
• Total profit: $3,454
• Equity at exit: $34,954

10-year hold

• IRR: 7.8%
• Equity multiple: 1.82×
• Total profit: $28,765
• Equity at exit: $40,959

Cash invested: $35,000 (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 50841

• Home prices YoY: -0.1%
• Active inventory: 8
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $132

Break-even live

Break-even rent $1,048

Max offer price $125,000

Occupancy floor 84%

Sensitivity live

Price	-10% $202	-5% $167	+0% $132	+5% $96	+10% $61
Rent	-10% $36	-5% $84	+0% $132	+5% $179	+10% $227
Rate	-1.0pp $194	-0.5pp $163	base $132	+0.5pp $99	+1.0pp $66

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 164 DOM
2. 2026-06-21
   days on market $125,000 Active 163 DOM
3. 2026-06-18
   days on market $125,000 Active 161 DOM
4. 2026-06-17
   days on market $125,000 Active 160 DOM
5. 2026-06-16
   days on market $125,000 Active 159 DOM
6. 2026-06-15
   days on market $125,000 Active 158 DOM
7. 2026-06-13
   days on market $125,000 Active 156 DOM
8. 2026-06-12
   days on market $125,000 Active 155 DOM
9. 2026-06-09
   days on market $125,000 Active 152 DOM
10. 2026-06-08
    days on market $125,000 Active 151 DOM
11. 2026-06-07
    days on market $125,000 Active 150 DOM
12. 2026-06-05
    days on market $125,000 Active 148 DOM
13. 2026-06-04
    days on market $125,000 Active 146 DOM
14. 2026-06-02
    days on market $125,000 Active 145 DOM
15. 2026-06-01
    days on market $125,000 Active 144 DOM
16. 2026-05-31
    days on market $125,000 Active 143 DOM
17. 2026-05-31
    days on market $125,000 Active 142 DOM
18. 2026-01-08
    listed $125,000 Active 844-char remark

    Show marketing remark (844 chars)

    Welcome to this charming 4-bedroom bungalow, offering the perfect blend of comfort and character. Situated on a desirable corner lot, this home provides extra space, and standout curb appeal. Recent updates provide peace of mind, including a newer roof, newer windows, and a freshly updated front porch that creates a warm, welcoming entrance. Inside, the home features a spacious living area filled with natural light, a functional kitchen ready for your personal touch, and four well-sized bedrooms offering flexibility for guests, a home office, or hobbies. Outside, enjoy the landscaped yard with plenty of room for gardening, entertaining, or simply relaxing. Whether you're starting out or settling in, this bungalow offers timeless charm just waiting for your personal touch! Don't miss the opportunity to make this lovely home your own!

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$260/yr (+$22/mo · 18.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,571
• − Mortgage interest: −$7,002
• − Property taxes: −$1,442
• − Insurance: −$625
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$3,636
• Taxable loss: −$465
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $1,690/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: Corning Community School District
• NCES district ID: 1908130
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $43,588
• Composite: 52.93/100
• National rank: #1529
• State rank: #221 of 289 in IA

Livability — Corning

• Score: 77/100
• State rank: #167
• US rank: #3006

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: Corning, IA
• Population (ZIP): 2,427

Population outlook (Adams County) Hauer SSP2

• Today (2025): 3,281 people
• By 2030: 3,046 · -7.2%
• By 2040: 2,649 · -19.3%
• By 2050: 2,299 · -29.9%
• By 2075: 1,693 · -48.4%
• By 2100: 1,219 · -62.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+44.2) · D 27.0% · R 71.2% · Other 1.8%
• 2008→2024 swing: -47.4pp toward R · 2008: 3.3pp · 2024: -44.2pp
• All cycles: 2024: R+44.2 2020: R+43.5 2016: R+39.8 2012: R+3.9 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.22%
• Current HPI: 158.8483
• 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

1 event — show timeline

• 2026-01-08 Listed $125,000 SWIAR

Property tax history

+5.0%/yr

Latest (2023): $1,442 · +11.8% YoY. Source: county tax records.