1702 Grand Ave · Emmetsburg, IA 50536

$64,900

2 bd · 1.0 ba · 1,204 sqft · SingleFamily public records · 36 Days on market

Built 1840 9,504 sqft lot $54/sqft · 41% below area Est $111k · 41% under ↓ 1% since listing

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +5.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking! This 2-bedroom, 1-bath home sits on a corner lot and is perfect for investors, landlords, or buyers ready to build equity. With a newer metal roof, vinyl siding, single-car garage, and appliances included (yes, washer and dryer too), the foundation is here—just bring your vision. Whether you’re flipping, renting, or renovating, this is your chance to turn potential into profit. Priced to move—don’t miss it!

Key facts

• Single-car garage
• Appliances included
• Vinyl siding

Tags

• CORNER LOT
• NEWER METAL ROOF
• VINYL SIDING
• APPLIANCES INCLUDED
• SINGLE-CAR GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels / 2 stories; Residential property
• Construction: Vinyl siding
• Exterior features: Metal roof; Corner lot; Publicly maintained road

Interior

• Kitchen: Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Dryer; Microwave; Refrigerator; Washer; Gas water heater; Partial basement
• Laundry & utility: Main level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($775 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.7% in Emmetsburg — 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 83/100 on livability (#31 in IA, #881 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Emmetsburg Community School District (town): math 64% / reading 71% proficiency, ranked #176 of 289 in IA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1840 — 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 A-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. 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: 1.19% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $110,805
• List price: $64,900
• Delta: -41.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 Grand Ave	0.00mi	2/1.0	1,204 (0%)	0mo	$64,200	$53	100
2004 Grand Ave	0.21mi	3/1.0 (+1)	1,208 (+0%)	2mo	$81,750	$68	83
1707 Lake St	0.24mi	2/1.5	1,224 (+2%)	3mo	$92,500	$76	82
1402 Madison St	0.43mi	2/1.0	1,224 (+2%)	0mo	$123,000	$100	77
1507 Broadway St	0.18mi	3/1.0 (+1)	1,244 (+3%)	6mo	$110,000	$88	76
1802 Pleasant St	0.09mi	2/2.5	1,076 (-11%)	5mo	$157,500	$146	68
1701 Palmer St	0.29mi	3/1.5 (+1)	1,162 (-4%)	9mo	$30,000	$26	66
1704 11th St	0.40mi	2/1.0	1,096 (-9%)	4mo	$110,000	$100	63
2005 12th St	0.34mi	3/1.0 (+1)	1,123 (-7%)	7mo	$120,000	$107	62
2507 15th St	0.41mi	2/1.5	1,384 (+15%)	5mo	$112,500	$81	50
1703 10th St	0.49mi	3/2.0 (+1)	1,096 (-9%)	6mo	$95,500	$87	48
1706 7th St	0.63mi	3/1.0 (+1)	1,108 (-8%)	5mo	$108,000	$97	48

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $2,371
• Equity at exit: $9,677

10-year hold

• IRR: 12.9%
• Equity multiple: 2.02×
• Total profit: $18,625
• Equity at exit: $5,611

Cash invested: $18,172 (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 50536

• Home prices YoY: -7.0%
• Active inventory: 47
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $775 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$42 /mo · $508/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $203

Break-even live

Break-even rent $519

Max offer price $64,900

Occupancy floor 69%

Sensitivity live

Price	-10% $239	-5% $221	+0% $203	+5% $184	+10% $166
Rent	-10% $141	-5% $172	+0% $203	+5% $233	+10% $264
Rate	-1.0pp $235	-0.5pp $219	base $203	+0.5pp $186	+1.0pp $169

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2805 Schroeder Dr Apt 18 Emmetsburg, IA	2.0	1.0	780	$775	$0.99	44d	1	1.45mi

Listing history 12 events

1. 2026-06-12
   statusdays on market $64,900 Pending 36 DOM
2. 2026-06-09
   days on market $64,900 Active Under Contract 35 DOM
3. 2026-06-08
   days on market $64,900 Active Under Contract 34 DOM
4. 2026-06-07
   days on market $64,900 Active Under Contract 33 DOM
5. 2026-06-05
   days on market $64,900 Active Under Contract 31 DOM
6. 2026-06-04
   days on market $64,900 Active Under Contract 29 DOM
7. 2026-06-02
   days on market $64,900 Active Under Contract 28 DOM
8. 2026-06-01
   days on market $64,900 Active Under Contract 27 DOM
9. 2026-05-31
   days on market $64,900 Active Under Contract 26 DOM
10. 2026-05-31
    days on market $64,900 Active Under Contract 25 DOM
11. 2026-05-11
    historical Active Under Contract 459-char remark
12. 2026-05-04
    listed $64,900 Active 459-char remark

ⓘ 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: $508 · $42/mo
• Projected year-2 tax: $763 · $64/mo
• Expected delta: +$255/yr (+$21/mo · 50.3%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,300
• − Mortgage interest: −$3,635
• − Property taxes: −$508
• − Insurance: −$324
• − Repairs & maintenance: −$744
• − Management: −$744
• − Depreciation: −$1,888
• Taxable income: $1,456
• Est. tax owed @ 24.0%: −$349
• After-tax cash flow: $2,081/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: Emmetsburg Community School District
• NCES district ID: 1910950
• Math proficiency: 64% ▲ 2.00%
• Reading proficiency: 71% ▲ 7.00%
• Median HH income: $46,839
• Composite: 56.97/100
• National rank: #1110
• State rank: #176 of 289 in IA

Livability — Emmetsburg

• Score: 83/100
• State rank: #31
• US rank: #881

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emmetsburg, IA
• City population: 4,287
• Population (ZIP): 4,287

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1% Two or more races 1% Asian 1%
• Common ancestry: Portuguese 10% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 99% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.96%
• Current HPI: 237.1703
• 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

-1.1% since first listed

4 events — show timeline

• 2026-06-16 Sold (MLS) $64,200 Iowa Great Lakes BOR
• 2026-06-10 Pending — Iowa Great Lakes BOR
• 2026-05-11 Contingent — Iowa Great Lakes BOR
• 2026-05-04 Listed $64,900 Iowa Great Lakes BOR

Property tax history

+4.5%/yr

Latest (2025): $508 · +1.6% YoY. Source: county tax records.