307 Anna St · Shenandoah, IA 51601

$57,900

5 bd · 1.5 ba · 2,038 sqft · SingleFamily public records · 24 Days on market

Built 1910 Est $114k · 49% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1.5-story brick home with 5 bedrooms and 2 baths, full of character and opportunity. This fixer-upper offers solid bones, generous room sizes, and endless potential. Ideal for experienced investors, flippers, or buyers ready to take on a complete renovation project and add back it's original charm. AMA, sq ft per country. Property sold as-is, CASH only. Seller is Secretary of Veterans Affairs, exempt from sellers disclosure. Does NOT pay customary closing costs: incl title, escrow fees, survey or transfer fees.

Key facts

• Built 1910
• Listed 24 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#206 in IA, #3,757 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute 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: 24 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 25 units permitted in Page County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Page County population projected at -12% 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,031 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.16% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.36%
• DSCR: 2.57
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $114,128
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Anna St	0.00mi	5/2.0	2,038 (0%)	1mo	$57,500	$28	97
306 W Sheridan Ave	0.19mi	5/1.0	2,044 (+0%)	13mo	$189,900	$93	78
508 West St	0.12mi	4/1.5 (-1)	2,311 (+13%)	10mo	$130,000	$56	59
509 5th Ave	0.16mi	5/2.0	1,791 (-12%)	20mo	$20,000	$11	53
602 6th Ave	0.16mi	4/2.0 (-1)	1,736 (-15%)	19mo	$40,000	$23	45
306 E Farnham St	0.42mi	4/2.0 (-1)	1,781 (-13%)	14mo	$140,000	$79	40

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: 31.0%
• Equity multiple: 2.30×
• Total profit: $21,132
• Equity at exit: $8,633

10-year hold

• IRR: 38.3%
• Equity multiple: 4.57×
• Total profit: $57,932
• Equity at exit: $5,006

Cash invested: $16,212 (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 51601

• Home prices YoY: -14.9%
• Active inventory: 24
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $478

Break-even live

Break-even rent $645

Max offer price $57,900

Occupancy floor 57%

Sensitivity live

Price	-10% $511	-5% $494	+0% $478	+5% $461	+10% $445
Rent	-10% $379	-5% $428	+0% $478	+5% $527	+10% $576
Rate	-1.0pp $507	-0.5pp $492	base $478	+0.5pp $463	+1.0pp $447

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 5th Ave Shenandoah, IA	4.0	2.0	1721	$1,250	$0.73	15d	1	0.30mi

Listing history 6 events

1. 2026-03-02
   status Pending
2. 2026-02-06
   listed $57,900 Active
3. 2021-11-02
   soldstatus $155,000
4. 2008-09-12
   soldstatus $95,500
5. 2002-04-08
   soldstatus $58,000
6. 1991-12-19
   soldstatus $20,500

ⓘ 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: $2,184 · $182/mo
• Projected year-2 tax: $2,184 · $182/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $15,000
• − Mortgage interest: −$3,243
• − Property taxes: −$2,184
• − Insurance: −$290
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,684
• Taxable income: $5,199
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $4,485/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 — Shenandoah

• Score: 76/100
• State rank: #206
• US rank: #3757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shenandoah, IA
• Population (ZIP): 5,562

Population outlook (Page County) Hauer SSP2

• Today (2025): 15,052 people
• By 2030: 14,709 · -2.3%
• By 2040: 13,981 · -7.1%
• By 2050: 13,302 · -11.6%
• By 2075: 11,678 · -22.4%
• By 2100: 9,213 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Greek 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Page

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.6% · Other 1.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -19.7pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+43.0 2016: R+44.1 2012: R+24.9 2008: R+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.90%
• Current HPI: 181.7259
• 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

+182.4% since first listed

6 events — show timeline

• 2026-03-02 Pending — SWIAR
• 2026-02-06 Listed $57,900 SWIAR
• 2021-11-02 Sold (Public Records) $155,000 Public Records
• 2008-09-12 Sold (Public Records) $95,500 Public Records
• 2002-04-08 Sold (Public Records) $58,000 Public Records
• 1991-12-19 Sold (Public Records) $20,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,184 · -1.2% YoY. Source: county tax records.