700 E Kellogg St · Garden Grove, IA 50103

$75,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 132 Days on market

Built 2006 0.78 ac lot

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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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.2/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in a quiet small town in southern Iowa, this affordable property offers a great option for a hunting basecamp or weekend retreat. With easy access to nearby hunting land and outdoor recreation, it provides a simple, convenient place to stay during hunting season or while enjoying the surrounding countryside. A great opportunity for those seeking a peaceful, low-maintenance getaway.

Key facts

• Outdoor recreation
• 0.78 acre lot
• Built 2006

Tags

• EASY ACCESS TO HUNTING LAND
• OUTDOOR RECREATION
• LOW MAINTENANCE GETAWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#823 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Mormon Trail Community School District (rural): math 55% / reading 65% proficiency, ranked #284 of 330 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Decatur County population projected at -16% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.5%
• Equity multiple: 2.11×
• Total profit: $23,360
• Equity at exit: $33,723

10-year hold

• IRR: 20.8%
• Equity multiple: 4.00×
• Total profit: $63,045
• Equity at exit: $51,972

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 50103

• Active inventory: 2
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$43 /mo · $520/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $225

Break-even live

Break-even rent $592

Max offer price $75,000

Occupancy floor 69%

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 21 events

1. 2026-06-18
   days on market $75,000 Active 132 DOM
2. 2026-06-17
   days on market $75,000 Active 131 DOM
3. 2026-06-16
   days on market $75,000 Active 130 DOM
4. 2026-06-15
   days on market $75,000 Active 129 DOM
5. 2026-06-13
   days on market $75,000 Active 127 DOM
6. 2026-06-12
   days on market $75,000 Active 126 DOM
7. 2026-06-09
   days on market $75,000 Active 123 DOM
8. 2026-06-08
   days on market $75,000 Active 122 DOM
9. 2026-06-07
   days on market $75,000 Active 121 DOM
10. 2026-06-05
    days on market $75,000 Active 119 DOM
11. 2026-06-04
    days on market $75,000 Active 117 DOM
12. 2026-06-02
    days on market $75,000 Active 116 DOM
13. 2026-06-01
    days on market $75,000 Active 115 DOM
14. 2026-05-31
    days on market $75,000 Active 114 DOM
15. 2026-05-31
    days on market $75,000 Active 113 DOM
16. 2026-02-06
    listed $75,000 Active 392-char remark

    Show marketing remark (392 chars)

    Located in a quiet small town in southern Iowa, this affordable property offers a great option for a hunting basecamp or weekend retreat. With easy access to nearby hunting land and outdoor recreation, it provides a simple, convenient place to stay during hunting season or while enjoying the surrounding countryside. A great opportunity for those seeking a peaceful, low-maintenance getaway.

17. 2025-02-13
    soldstatus $55,000
18. 2025-02-11
    soldstatus $55,000 Closed 206-char remark

    Show marketing remark (206 chars)

    Super cute and very affordable! This 2 Bedroom home is located in the small quiet town of Garden Grove! Close to everything but still holds all of the charm of a rural community! Setting on 2 large lots!

19. 2025-01-29
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Super cute and very affordable! This 2 Bedroom home is located in the small quiet town of Garden Grove! Close to everything but still holds all of the charm of a rural community! Setting on 2 large lots!

20. 2025-01-22
    listed $57,500 Active 206-char remark

    Show marketing remark (206 chars)

    Super cute and very affordable! This 2 Bedroom home is located in the small quiet town of Garden Grove! Close to everything but still holds all of the charm of a rural community! Setting on 2 large lots!

21. 2025-01-21
    soldstatus $37,000

ⓘ 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: $520 · $43/mo
• Projected year-2 tax: $849 · $71/mo
• Expected delta: +$329/yr (+$27/mo · 63.2%)

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

Taxation est. · year 1

• Rental income: $10,528
• − Mortgage interest: −$4,201
• − Property taxes: −$520
• − Insurance: −$375
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$2,182
• Taxable income: $1,565
• Est. tax owed @ 24.0%: −$376
• After-tax cash flow: $2,327/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: Mormon Trail Community School District
• NCES district ID: 1919740
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $46,693
• Composite: 52.35/100
• National rank: #3427
• State rank: #284 of 330 in IA

Livability — Garden Grove

• Score: 60/100
• State rank: #823
• US rank: #18950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden Grove, IA
• Population (ZIP): 398

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 7,720 people
• By 2030: 7,467 · -3.3%
• By 2040: 6,935 · -10.2%
• By 2050: 6,500 · -15.8%
• By 2075: 6,761 · -12.4%
• By 2100: 6,215 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Iranian 4% Romanian 3% Scottish 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+47.1) · D 25.7% · R 72.7% · Other 1.6%
• 2008→2024 swing: -46.2pp toward R · 2008: -0.8pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+39.3 2016: R+29.6 2012: R+4.1 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+102.7% since first listed

6 events — show timeline

• 2026-02-06 Listed $75,000 IAR
• 2025-02-13 Sold (Public Records) $55,000 Public Records
• 2025-02-11 Sold (MLS) $55,000 IAR
• 2025-01-29 Pending — IAR
• 2025-01-22 Listed $57,500 IAR
• 2025-01-21 Sold (Public Records) $37,000 Public Records

Property tax history

-2.6%/yr

Latest (2024): $520 · -39.3% YoY. Source: county tax records.