2304 Lawler St · Emmetsburg, IA 50536

$49,900

3 bd · 1.0 ba · 640 sqft · SingleFamily public records · 18 Days on market

Built 1948 8,712 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This is your opportunity to get into the investment property world. This charming 1 1/2 story home has great possibilities! On the main floor of the interior you will find the kitchen, a dining room, living room, one bedroom and a 3/4 bath. The upper level offers 2 additional bedrooms. There is a single attached garage with a carport. Located in a quiet neighborhood, this charmer could be a great opportunity to make a sweet cottage. Take a look at what this one has to offer!

Key facts

• 8,712 sq ft lot
• Garage
• Built 1948

Property features AI

Exterior

• Parking: Attached garage; Carport; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding
• Exterior features: Shingle roof; Lot dimensions approximately 66 x 132

Interior

• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($935 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 2.4% 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: 46 active listings in the ZIP; 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.87% ✓
• Cap rate: 15.94%
• Cash-on-cash: 34.44%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.9%
• Equity multiple: 2.25×
• Total profit: $17,465
• Equity at exit: $7,440

10-year hold

• IRR: 37.2%
• Equity multiple: 4.45×
• Total profit: $48,137
• Equity at exit: $4,314

Cash invested: $13,972 (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: 46
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $935 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$55 /mo · $662/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $401

Break-even live

Break-even rent $427

Max offer price $49,900

Occupancy floor 52%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   statusdays on market $49,900 Pending 18 DOM
2. 2026-06-08
   days on market $49,900 Active 17 DOM
3. 2026-06-07
   days on market $49,900 Active 16 DOM
4. 2026-06-05
   days on market $49,900 Active 14 DOM
5. 2026-06-04
   days on market $49,900 Active 12 DOM
6. 2026-06-02
   days on market $49,900 Active 11 DOM
7. 2026-06-01
   days on market $49,900 Active 10 DOM
8. 2026-05-31
   days on market $49,900 Active 9 DOM
9. 2026-05-31
   days on market $49,900 Active 8 DOM
10. 2026-05-21
    listed $49,900 Active

ⓘ 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: $662 · $55/mo
• Projected year-2 tax: $723 · $60/mo
• Expected delta: +$61/yr (+$5/mo · 9.2%)

ⓘ 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 ≥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: $11,220
• − Mortgage interest: −$2,795
• − Property taxes: −$662
• − Insurance: −$250
• − Repairs & maintenance: −$898
• − Management: −$898
• − Depreciation: −$1,452
• Taxable income: $4,267
• Est. tax owed @ 24.0%: −$1,024
• After-tax cash flow: $3,788/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 event — show timeline

• 2026-05-21 Listed $49,900 IAR

Property tax history

+3.0%/yr

Latest (2025): $662 · +0.9% YoY. Source: county tax records.