606 S 5th St · Knoxville, IA 50138

$89,900

3 bd · 2.0 ba · 1,258 sqft · SingleFamily public records · 52 Days on market

Built 1920 7,200 sqft lot $71/sqft · 53% below area

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Handyman Special! This property is loaded with potential for investors, flippers, or anyone ready to create a fully customized dream home. The home is full of opportunity with a functional layout and space to make your own. There are 3 bedrooms and a full bathroom on the upper level with the kitchen, dining area and living room having an open concept. The lower level has another bathroom, a garage and more space to designate as you choose. It is a large corner lot so plenty of space for childres and fur babies to play. There are also 2 parking areas. 1 on the N side of the home so you can carry groceries in with minimal steps and then the east side which goes to the garage. Put your skills

Key facts

• Open concept
• Large corner lot
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• OPEN CONCEPT
• LARGE CORNER LOT
• 2 PARKING AREAS

Property features AI

Finance

• Financial info: Annual tax amount provided

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential zoning; Below-grade finished area (approx. 250)
• Construction: Asphalt shingle roof; Block foundation
• Exterior features: Concrete road frontage; Lot dimensions about 60 x 120

Interior

• Kitchen: Appliances: see remarks
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air; Window AC unit(s)
• Interior features: Dining area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.4% in Knoxville — 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 69/100 on livability (#406 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Knoxville Community School District (town): math 62% / reading 63% proficiency, ranked #220 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1920 — 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 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. 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: 1.36% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.36%
• DSCR: 1.68
• GRM: 6.1

CMA / ARV

• ARV (median comp): $192,167
• List price: $89,900
• Delta: -53.22%
• 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
510 S 4th St	0.07mi	3/1.5	1,210 (-4%)	1mo	$185,000	$153	88
118 E Madison St	0.18mi	2/1.0 (-1)	1,253 (-0%)	2mo	$158,000	$126	80
102 E Cronkhite St	0.24mi	3/1.0	1,224 (-3%)	2mo	$140,000	$114	78
506 S Attica Rd	0.39mi	3/2.0	1,176 (-6%)	4mo	$220,000	$187	68
601 W Marion St	0.65mi	3/1.5	1,281 (+2%)	3mo	$13,000	$10	62
421 N 2nd St	0.60mi	3/1.0	1,246 (-1%)	5mo	$163,500	$131	62
502 W Marion St	0.60mi	2/1.5 (-1)	1,197 (-5%)	2mo	$123,500	$103	55
713 W Main St	0.68mi	3/1.5	1,153 (-8%)	5mo	$220,000	$191	48
811 W Madison St	0.64mi	3/3.0	1,380 (+10%)	5mo	$299,900	$217	46
803 W Jefferson St	0.62mi	3/2.0	1,440 (+14%)	2mo	$175,000	$122	45
1402 E Marion St	0.63mi	4/2.0 (+1)	1,404 (+12%)	2mo	$220,000	$157	45
414 W Main St	0.55mi	4/1.0 (+1)	1,428 (+14%)	6mo	$168,000	$118	38

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $5,989
• Equity at exit: $13,404

10-year hold

• IRR: 15.5%
• Equity multiple: 2.26×
• Total profit: $31,772
• Equity at exit: $7,773

Cash invested: $25,172 (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 50138

• Home prices YoY: -25.3%
• Active inventory: 100
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $322

Break-even live

Break-even rent $813

Max offer price $89,900

Occupancy floor 69%

Sensitivity live

Price	-10% $373	-5% $348	+0% $322	+5% $297	+10% $271
Rent	-10% $226	-5% $274	+0% $322	+5% $370	+10% $419
Rate	-1.0pp $368	-0.5pp $345	base $322	+0.5pp $299	+1.0pp $275

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1870 W Pleasant St Unit 14 Knoxville, IA	3.0	1.0	962	$1,150	$1.20	44d	1	1.32mi

Listing history 18 events

1. 2026-06-19
   days on market $89,900 Active 52 DOM
2. 2026-06-18
   days on market $89,900 Active 51 DOM
3. 2026-06-17
   days on market $89,900 Active 50 DOM
4. 2026-06-16
   days on market $89,900 Active 49 DOM
5. 2026-06-15
   days on market $89,900 Active 48 DOM
6. 2026-06-14
   days on market $89,900 Active 46 DOM
7. 2026-06-12
   days on market $89,900 Active 45 DOM
8. 2026-06-09
   days on market $89,900 Active 42 DOM
9. 2026-06-08
   days on market $89,900 Active 41 DOM
10. 2026-06-07
    days on market $89,900 Active 40 DOM
11. 2026-06-05
    days on market $89,900 Active 38 DOM
12. 2026-06-03
    days on market $89,900 Active 36 DOM
13. 2026-06-02
    days on market $89,900 Active 35 DOM
14. 2026-06-01
    days on market $89,900 Active 34 DOM
15. 2026-05-31
    days on market $89,900 Active 33 DOM
16. 2026-05-30
    days on market $89,900 Active 32 DOM
17. 2026-04-27
    listed $95,000 Active 739-char remark
18. 2018-06-18
    soldstatus $88,000

ⓘ 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: $1,596 · $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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,646
• − Mortgage interest: −$5,036
• − Property taxes: −$1,596
• − Insurance: −$450
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$2,615
• Taxable income: $2,606
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $3,242/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: Knoxville Community School District
• NCES district ID: 1915840
• Math proficiency: 62% ▼ -6.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $49,594
• Composite: 53.11/100
• National rank: #1512
• State rank: #220 of 289 in IA

Livability — Knoxville

• Score: 69/100
• State rank: #406
• US rank: #8643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knoxville, IA
• County: Marion County · 25,533 people
• City population: 11,117
• Metro: Pella, IA
• Population (ZIP): 11,117
• Household income: $74,693
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 122.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 12% Portuguese 4% Italian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.37%
• Current HPI: 237.7055
• Rent YoY: —
• Metro: Pella, IA
• 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

+2.2% since first listed

3 events — show timeline

• 2026-05-26 Price Changed $89,900 DMMLS
• 2026-04-27 Listed $95,000 DMMLS
• 2018-06-18 Sold (Public Records) $88,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,596 · +2.4% YoY. Source: county tax records.