811 N 3rd St · Red Oak, IA 51566

$95,000

3 bd · 2.0 ba · 1,998 sqft · SingleFamily public records · 10 Days on market

Built 1905 5,040 sqft lot Est $152k · 37% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If your're looking for a large 3 bedroom house this may just be the one for you! The home has vinyl siding, many newer windows, all wallpaper has been stripped away, with a newer furnace, newer water heater and an estimated $20K in roof repairs and replacement. Also includes a detached garage with a 2nd floor.

Key facts

• Upstairs storage
• Outdoor space
• Off-street parking

Tags

• CORNER LOT
• OFF-STREET PARKING
• DETACHED GARAGE
• UPSTAIRS STORAGE
• OUTDOOR SPACE

Property features AI

Finance

• HOA & community: Community sidewalks

Exterior

• Parking: Off-street parking; 2-car garage
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; Two-story home; Frame construction
• Construction: Composition roof
• Exterior features: Patio; Waterfront lot; Lot approximately 45 x 112

Interior

• Heating & cooling: Central air conditioning; Natural gas heating with forced air
• Interior features: Full unfinished basement; Sidewalks on the property
• Laundry & utility: Washer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 11.4% vs local median 3.6% in Red Oak — 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 68/100 on livability (#428 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Red Oak Community School District (town): math 58% / reading 59% proficiency, ranked #255 of 289 in IA (top 88%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Inman Elementary School (math 63% / reading 47%, grade C, #459 of 616 statewide, top 75%, 496 students, 59% FRL); Red Oak Early Childhood Center (74 students, 62% FRL); Red Oak Junior/Senior High School (math 55% / reading 67%, grade C+, #258 of 336 statewide, top 78%, 474 students, 55% FRL).
• Market conditions: 56 active listings in the ZIP; 13 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $60k; list at $95k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.44% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.40%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $151,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1010 N 6th St	0.24mi	3/2.0	1,874 (-6%)	3mo	$143,000	$76	76
207 E Joy St	0.03mi	3/2.0	1,760 (-12%)	4mo	$122,500	$70	76
701 E Oak St	0.43mi	4/3.0 (+1)	1,968 (-2%)	9mo	$165,000	$84	61
907 N 7th St	0.25mi	2/1.5 (-1)	1,876 (-6%)	12mo	$93,500	$50	61
306 Maple St	0.25mi	4/2.0 (+1)	1,810 (-9%)	10mo	$138,500	$77	60
1509 N 8th St	0.54mi	3/2.0	2,117 (+6%)	12mo	$209,000	$99	55
711 E Oak St	0.45mi	3/1.5	2,253 (+13%)	2mo	$139,500	$62	54
1012 E Corning St	0.53mi	2/2.0 (-1)	1,800 (-10%)	0mo	$130,000	$72	53
210 N 8th St	0.49mi	3/2.0	1,732 (-13%)	5mo	$50,000	$29	51
1123 Boundary St	0.49mi	4/2.0 (+1)	1,878 (-6%)	14mo	$310,000	$165	51
1406 N 6th St	0.42mi	2/1.5 (-1)	1,768 (-12%)	12mo	$75,000	$42	45
1406 Forest Ave	0.73mi	3/2.5	2,224 (+11%)	9mo	$250,000	$112	37

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $10,607
• Equity at exit: $14,165

10-year hold

• IRR: 19.2%
• Equity multiple: 2.61×
• Total profit: $42,799
• Equity at exit: $8,214

Cash invested: $26,600 (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 51566

• Home prices YoY: -33.3%
• Active inventory: 56
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $408

Break-even live

Break-even rent $849

Max offer price $95,000

Occupancy floor 65%

Sensitivity live

Price	-10% $462	-5% $435	+0% $408	+5% $381	+10% $354
Rent	-10% $300	-5% $354	+0% $408	+5% $462	+10% $516
Rate	-1.0pp $456	-0.5pp $432	base $408	+0.5pp $383	+1.0pp $358

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-22
   days on market $95,000 Active 10 DOM
2. 2026-06-21
   days on market $95,000 Active 9 DOM
3. 2026-06-21
   days on market $95,000 Active 8 DOM
4. 2026-06-18
   days on market $95,000 Active 6 DOM
5. 2026-06-17
   days on market $95,000 Active 5 DOM
6. 2026-06-16
   days on market $95,000 Active 4 DOM
7. 2026-06-15
   days on market $95,000 Active 3 DOM
8. 2026-06-13
   remarks 333-char remark
9. 2026-06-13
   listed $95,000 Active 1 DOM

ⓘ 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: $1,596 · $133/mo
• Projected year-2 tax: $1,596 · $133/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $16,383
• − Mortgage interest: −$5,321
• − Property taxes: −$1,596
• − Insurance: −$475
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$2,764
• Taxable income: $3,606
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $4,028/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: Red Oak Community School District
• NCES district ID: 1924000
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $38,902
• Composite: 48.77/100
• National rank: #2092
• State rank: #255 of 289 in IA

Livability — Red Oak

• Score: 68/100
• State rank: #428
• US rank: #9239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Oak, IA
• City population: 7,004
• Population (ZIP): 7,004

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 9,518 people
• By 2030: 9,116 · -4.2%
• By 2040: 8,303 · -12.8%
• By 2050: 7,595 · -20.2%
• By 2075: 6,568 · -31.0%
• By 2100: 5,800 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 1% Asian 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+39.1) · D 29.8% · R 68.9% · Other 1.3%
• 2008→2024 swing: -28.5pp toward R · 2008: -10.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+39.0 2016: R+42.4 2012: R+21.6 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.42%
• Current HPI: 187.1643
• 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

+106.5% since first listed

10 events — show timeline

• 2026-06-11 Listed $95,000 SWIAR
• 2025-06-04 Pending — IAR
• 2025-05-20 Price Changed $79,900 IAR
• 2025-02-20 Listed $84,900 IAR
• 2019-02-25 Sold (Public Records) $60,000 Public Records
• 2019-02-21 Sold (MLS) $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-21 Sold (MLS) $60,000 IAR
• 2018-06-13 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-13 Listed $69,900 IAR
• 2006-11-09 Sold (Public Records) $46,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,596 · +4.6% YoY. Source: county tax records.