112 Winnebago Way · Forest City, IA 50436

$139,500

2 bd · 1.0 ba · 1,158 sqft · SingleFamily public records · 42 Days on market

Built 1972 6,970 sqft lot $120/sqft · at area comps Est $213k · 34% under ↓ 10% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This home offers an inviting open-concept design, w/ a vaulted ceiling that creates a sense of spaciousness & connects the main living areas. The eat-in kitchen features an island & solid surface countertops. An open staircase adds interest to the LR. Natural light pours into the living areas through a LR picture window & the patio door in the dining area. An over-sized primary BR offers 3 closets, 2 w/ hanging rods & 1 w/ shelving. There's a second BR on the ML. The main bath, w/ tub & shower, has tiled flooring. A dedicated ML storage room, w/ shelving, offers the potential for a ML laundry, appealing to buyers seeking one-level living! The LL expands the liv

Key facts

• Vaulted ceiling
• Picture window
• Natural light

Tags

• OPEN CONCEPT DESIGN
• VAULTED CEILING
• EAT-IN KITCHEN
• SOLID SURFACE COUNTERTOPS
• NATURAL LIGHT
• PICTURE WINDOW

Property features AI

Exterior

• Parking: Attached garage; Concrete driveway/parking; Garage door opener; 1-car garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single-family residence; Residential property
• Construction: HardiPlank-type siding
• Exterior features: Shingle roof; Storage structure

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water softener (owned); Basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (20.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (28.8% below list).
• Recommended offer: $99k (28.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 4.1% in Forest City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#160 in IA, #2,902 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Forest City Community School District (town): math 67% / reading 78% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Forest City Elementary School (math 62% / reading 72%, grade B+, #273 of 616 statewide, top 51%, 487 students, 39% FRL); Forest City Middle School (math 69% / reading 83%, grade A, #59 of 246 statewide, top 26%, 330 students, 41% FRL); Forest City High School (math 66% / reading 75%, grade B+, #140 of 336 statewide, top 43%, 324 students, 35% FRL).
• Market conditions: 45 active listings in the ZIP; 6 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $964 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Winnebago County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Recommended offer $99,288 (28.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 4.93%
• Cash-on-cash: -4.88%
• DSCR: 0.78
• GRM: 11.7

CMA / ARV

• ARV (median comp): $212,600
• List price: $139,500
• Delta: -34.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Indian Ave	0.19mi	3/2.0 (+1)	1,092 (-6%)	8mo	$180,000	$165	66
1515 W I St	0.32mi	2/1.0	1,088 (-6%)	19mo	$119,500	$110	59
715 W J St	0.58mi	1/2.5 (-1)	1,164 (+0%)	12mo	$155,000	$133	51
746 W M St	0.71mi	2/1.0	1,065 (-8%)	8mo	$27,500	$26	47
946 W M St	0.65mi	3/1.0 (+1)	1,088 (-6%)	16mo	$123,000	$113	42
106 Lawnsdale Ct	0.15mi	3/3.0 (+1)	1,304 (+13%)	22mo	$243,000	$186	41
215 N 10th St	0.70mi	3/1.0 (+1)	1,037 (-10%)	5mo	$61,000	$59	41
536 W K St	0.68mi	3/1.5 (+1)	1,046 (-10%)	9mo	$95,000	$91	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: -24.6%
• Equity multiple: 0.16×
• Total profit: $-32,717
• Equity at exit: $20,800

10-year hold

• IRR: -20.2%
• Equity multiple: -0.06×
• Total profit: $-41,504
• Equity at exit: $12,061

Cash invested: $39,060 (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 50436

• Home prices YoY: -25.3%
• Active inventory: 45
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$154 /mo · $1,842/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-159

Break-even live

Break-even rent $1,194

Max offer price $111,447

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-119	+0% $-159	+5% $-198	+10% $-238
Rent	-10% $-237	-5% $-198	+0% $-159	+5% $-120	+10% $-80
Rate	-1.0pp $-89	-0.5pp $-123	base $-159	+0.5pp $-195	+1.0pp $-232

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $139,500 Active 42 DOM
2. 2026-06-21
   days on market $139,500 Active 41 DOM
3. 2026-06-21
   days on market $139,500 Active 40 DOM
4. 2026-06-18
   days on market $139,500 Active 38 DOM
5. 2026-06-17
   days on market $139,500 Active 37 DOM
6. 2026-06-16
   pricedays on market $139,500 Active 36 DOM
7. 2026-06-15
   days on market $149,500 Active 35 DOM
8. 2026-06-13
   days on market $149,500 Active 33 DOM
9. 2026-06-12
   days on market $149,500 Active 32 DOM
10. 2026-06-09
    days on market $149,500 Active 29 DOM
11. 2026-06-08
    days on market $149,500 Active 28 DOM
12. 2026-06-07
    days on market $149,500 Active 27 DOM
13. 2026-06-07
    days on market $149,500 Active 26 DOM
14. 2026-06-04
    days on market $149,500 Active 23 DOM
15. 2026-06-02
    days on market $149,500 Active 22 DOM
16. 2026-06-01
    days on market $149,500 Active 21 DOM
17. 2026-05-31
    days on market $149,500 Active 20 DOM
18. 2026-05-31
    days on market $149,500 Active 19 DOM
19. 2026-05-11
    listed $155,000 Active 1556-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: $1,842 · $154/mo
• Projected year-2 tax: $2,016 · $168/mo
• Expected delta: +$174/yr (+$15/mo · 9.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $11,915
• − Mortgage interest: −$7,814
• − Property taxes: −$1,842
• − Insurance: −$698
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$4,058
• Taxable loss: −$4,404
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $-849/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: Forest City Community School District
• NCES district ID: 1911790
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 78% ▲ 1.00%
• Median HH income: $46,674
• Composite: 61.08/100
• National rank: #789
• State rank: #111 of 289 in IA

Livability — Forest City

• Score: 77/100
• State rank: #160
• US rank: #2902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, IA
• Population (ZIP): 5,760

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 10,099 people
• By 2030: 9,831 · -2.7%
• By 2040: 9,326 · -7.7%
• By 2050: 9,073 · -10.2%
• By 2075: 9,448 · -6.4%
• By 2100: 10,279 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 6% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Iranian 1%
• Foreign-born: 5% · China, Canada, Vietnam
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Winnebago

• 2024 margin: Solid R (+30.7) · D 33.9% · R 64.6% · Other 1.5%
• 2008→2024 swing: -39.3pp toward R · 2008: 8.6pp · 2024: -30.7pp
• All cycles: 2024: R+30.7 2020: R+26.3 2016: R+26.5 2012: R+0.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.62%
• Current HPI: 187.8639
• 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

-10.0% since first listed

3 events — show timeline

• 2026-06-16 Price Changed $139,500 IAR
• 2026-05-28 Price Changed $149,500 IAR
• 2026-05-11 Listed $155,000 IAR

Property tax history

+4.1%/yr

Latest (2025): $1,842 · +5.0% YoY. Source: county tax records.