201 Wilkes St · Farragut, IA 51639

$99,000

4 bd · 1.5 ba · 1,840 sqft · SingleFamily public records · 34 Days on market

Built 1890 $54/sqft · 34% below area Est $150k · 34% under

---

Why this score? — see what drove the A 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• 1% rule +8.0/10.0
• Schools +5.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this spacious 2-story home featuring 4 bedrooms and 1.5 baths! This property offers great potential for an investor, flipper, or buyer looking to build equity with a little work. Inside you'll find a functional layout, a full unfinished basement for extra storage or future finishing potential, and a newer furnace installed in 2024. Outside, enjoy the detached 1-stall garage and a unique stamped concrete patio complete with a built-in fireplace -- perfect for entertaining or relaxing evenings outdoors. The home does need flooring, clean-out, and cosmetic updates, but the possibilities are there for the right buyer willing to put in some sweat equity.

Key facts

• Built-in fireplace
• Garage
• Built 1890

Tags

• FULL UNFINISHED BASEMENT
• DETACHED 1-STALL GARAGE
• STAMPED CONCRETE PATIO
• BUILT-IN FIREPLACE

Property features AI

Exterior

• Parking: Off-street parking; 1-car garage
• Security: Smoke detector(s)
• Utilities: Natural gas available
• Home design: Single family residence; Residential property; 2 stories
• Construction: Frame construction; Composition roof
• Exterior features: Patio; Deck; Lot about 0.22 acres

Interior

• Heating & cooling: Forced air heating; Central air; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Fireplace; Full unfinished basement
• Laundry & utility: No dedicated laundry features listed

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#601 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Shenandoah Community School District (town): math 64% / reading 69% proficiency, ranked #190 of 289 in IA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shenandoah Elementary School (math 77% / reading 57%, grade B+, #273 of 616 statewide, top 51%, 375 students, 39% FRL); Shenandoah Middle School (math 61% / reading 74%, grade A-, #133 of 246 statewide, top 56%, 296 students, 38% FRL); Shenandoah High School (math 61% / reading 68%, grade B-, #211 of 336 statewide, top 70%, 259 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; 7 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($684 loan paydown + $10k appreciation (9.8% local appreciation)).
• Fremont County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $26k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $99k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.30% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.82%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

• ARV (median comp): $149,687
• List price: $99,000
• Delta: -33.86%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1110 New Orleans Ave	0.21mi	3/3.0 (-1)	2,067 (+12%)	13mo	$290,000	$140	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 3.69×
• Total profit: $74,520
• Equity at exit: $87,900

10-year hold

• IRR: 30.1%
• Equity multiple: 8.29×
• Total profit: $202,020
• Equity at exit: $188,206

Cash invested: $27,720 (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 51639

• Home prices YoY: 5.3%
• Active inventory: 4
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $342

Break-even live

Break-even rent $857

Max offer price $99,000

Occupancy floor 68%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   price $99,000 Active 34 DOM
2. 2026-06-18
   days on market $100,000 Active 34 DOM
3. 2026-06-17
   days on market $100,000 Active 33 DOM
4. 2026-06-16
   days on market $100,000 Active 32 DOM
5. 2026-06-15
   days on market $100,000 Active 31 DOM
6. 2026-06-13
   days on market $100,000 Active 29 DOM
7. 2026-06-12
   days on market $100,000 Active 28 DOM
8. 2026-06-09
   days on market $100,000 Active 25 DOM
9. 2026-06-08
   days on market $100,000 Active 24 DOM
10. 2026-06-07
    days on market $100,000 Active 23 DOM
11. 2026-06-07
    pricedays on market $100,000 Active 22 DOM
12. 2026-06-04
    days on market $105,000 Active 19 DOM
13. 2026-06-02
    days on market $105,000 Active 18 DOM
14. 2026-06-01
    days on market $105,000 Active 17 DOM
15. 2026-05-31
    days on market $105,000 Active 16 DOM
16. 2026-05-31
    pricedays on market $105,000 Active 15 DOM
17. 2026-05-15
    listed $125,000 Active 684-char remark
18. 2018-10-15
    listed $63,000
19. 2017-11-09
    soldstatus $59,000
20. 2017-11-07
    soldstatus $58,900
21. 2017-05-18
    listed $58,500
22. 2016-07-31
    listed $59,000

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$78/yr (+$7/mo · 5.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°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: $15,481
• − Mortgage interest: −$5,546
• − Property taxes: −$1,398
• − Insurance: −$495
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,880
• Taxable income: $2,685
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $3,462/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: Shenandoah Community School District
• NCES district ID: 1926070
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 69% ▼ -5.00%
• Median HH income: $41,835
• Composite: 55.67/100
• National rank: #1225
• State rank: #190 of 289 in IA

Livability — Farragut

• Score: 64/100
• State rank: #601
• US rank: #13697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farragut, IA
• Population (ZIP): 884

Population outlook (Fremont County) Hauer SSP2

• Today (2025): 6,095 people
• By 2030: 5,632 · -7.6%
• By 2040: 4,806 · -21.1%
• By 2050: 4,106 · -32.6%
• By 2075: 2,947 · -51.6%
• By 2100: 2,205 · -63.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 2% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Fremont

• 2024 margin: Solid R (+44.6) · D 27.0% · R 71.6% · Other 1.4%
• 2008→2024 swing: -41.0pp toward R · 2008: -3.6pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+42.3 2016: R+40.6 2012: R+9.2 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.82%
• Current HPI: 193.5983
• 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

+69.5% since first listed

9 events — show timeline

• 2026-06-06 Price Changed $100,000 SWIAR
• 2026-05-30 Price Changed $105,000 SWIAR
• 2026-05-21 Price Changed $115,000 SWIAR
• 2026-05-15 Listed $125,000 SWIAR
• 2018-10-15 Listed $63,000 IAR
• 2017-11-09 Sold (Public Records) $59,000 Public Records
• 2017-11-07 Sold (MLS) $58,900 IAR
• 2017-05-18 Listed $58,500 IAR
• 2016-07-31 Listed $59,000 SWIAR

Property tax history

+0.7%/yr

Latest (2025): $1,398 · +2.6% YoY. Source: county tax records.