215 Main St S

Williamson, IA 50272

$45,000B+

2 bd · 1.0 ba · 1,032 sqft · Built 1900 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $955/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $451/mo
• Annual: $5,408/yr
• Cap rate: 18.31%
• Cash-on-cash: 42.92%
• DSCR: 2.91
• 1% rule: 2.12%
• Cash to close: $12,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $45k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 50/100 on livability (#954 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Chariton Community School District (town): math 57% / reading 65% proficiency, ranked #241 of 289 in IA (top 83%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 3 units permitted in Lucas County in 2024 (0 in 5+ unit buildings).
• Lucas County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.