1507 Center St · Ruthven, IA 51358

$70,000

2 bd · 1.5 ba · 864 sqft · SingleFamily public records · 128 Days on market

Built 1914 4,928 sqft lot $81/sqft · 25% below area Est $93k · 25% under

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Why this score? — see what drove the A- 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Appreciation +5.7/10.0
• Schools +4.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

So Much Potential - This 2-bedroom, 1-bath, one-story home in Ruthven offers a simple layout and an opportunity for someone ready to add value over time. The main-level living provides a straightforward floor plan with room for updates and personal touches. While the home does need some care, it presents honest potential for the right buyer. Whether you’re seeking an affordable place to start, a project to build equity, or a property to improve in your spare time. Located just minutes from Lost Island Lake and with an easy commute to Emmetsburg or Spencer, this property may also appeal to investors exploring long-term rental or short-term lodging possibilities in a popular lake-area community.

Key facts

• Simple layout
• Main-level living
• 4,928 sq ft lot

Tags

• MAIN-LEVEL LIVING
• SIMPLE LAYOUT
• MINUTES FROM LOST ISLAND LAKE
• EASY COMMUTE TO EMMETSBURG
• EASY COMMUTE TO SPENCER
• POPULAR LAKE-AREA COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#534 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• Ruthven-Ayrshire Community School District (rural): math 50% / reading 60% proficiency, ranked #309 of 330 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($484 loan paydown + $958 appreciation (1.4% local appreciation)).
• 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 (1.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $70k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.22% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (median comp): $93,044
• List price: $70,000
• Delta: -24.77%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

1.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.92×
• Total profit: $18,011
• Equity at exit: $25,251

10-year hold

• IRR: 20.5%
• Equity multiple: 3.56×
• Total profit: $50,237
• Equity at exit: $34,629

Cash invested: $19,600 (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 51358

• Home prices YoY: 0.5%
• Active inventory: 16
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $855 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$37 /mo · $444/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $243

Break-even live

Break-even rent $548

Max offer price $70,000

Occupancy floor 67%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $70,000 Active 128 DOM
2. 2026-06-17
   days on market $70,000 Active 127 DOM
3. 2026-06-16
   days on market $70,000 Active 126 DOM
4. 2026-06-15
   days on market $70,000 Active 125 DOM
5. 2026-06-13
   days on market $70,000 Active 123 DOM
6. 2026-06-12
   days on market $70,000 Active 122 DOM
7. 2026-06-09
   days on market $70,000 Active 119 DOM
8. 2026-06-08
   days on market $70,000 Active 118 DOM
9. 2026-06-07
   days on market $70,000 Active 117 DOM
10. 2026-06-05
    days on market $70,000 Active 115 DOM
11. 2026-06-04
    days on market $70,000 Active 113 DOM
12. 2026-06-02
    days on market $70,000 Active 112 DOM
13. 2026-06-01
    days on market $70,000 Active 111 DOM
14. 2026-05-31
    days on market $70,000 Active 110 DOM
15. 2026-05-31
    days on market $70,000 Active 109 DOM
16. 2026-02-10
    listed $70,000 Active 708-char remark

    Show marketing remark (708 chars)

    So Much Potential - This 2-bedroom, 1-bath, one-story home in Ruthven offers a simple layout and an opportunity for someone ready to add value over time. The main-level living provides a straightforward floor plan with room for updates and personal touches. While the home does need some care, it presents honest potential for the right buyer. Whether you’re seeking an affordable place to start, a project to build equity, or a property to improve in your spare time. Located just minutes from Lost Island Lake and with an easy commute to Emmetsburg or Spencer, this property may also appeal to investors exploring long-term rental or short-term lodging possibilities in a popular lake-area community.

17. 2014-04-22
    soldstatus $38,000
18. 2011-10-03
    soldstatus $38,000
19. 2010-12-16
    soldstatus $10,000

ⓘ 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: $444 · $37/mo
• Projected year-2 tax: $772 · $64/mo
• Expected delta: +$328/yr (+$27/mo · 73.8%)

ⓘ 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 2/10 Low 7 d/yr ≥99°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: $10,265
• − Mortgage interest: −$3,921
• − Property taxes: −$444
• − Insurance: −$350
• − Repairs & maintenance: −$821
• − Management: −$821
• − Depreciation: −$2,036
• Taxable income: $1,871
• Est. tax owed @ 24.0%: −$449
• After-tax cash flow: $2,461/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: Ruthven-Ayrshire Community School District
• NCES district ID: 1925050
• Math proficiency: 50% ▼ -25.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $44,398
• Composite: 48.19/100
• National rank: #4727
• State rank: #309 of 330 in IA

Livability — Ruthven

• Score: 66/100
• State rank: #534
• US rank: #11944

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruthven, IA
• City population: 1,277
• Population (ZIP): 1,277

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 (87%)
• Race & ethnicity: White 87% Two or more races 11% Hispanic / Latino 5% Asian 1%
• Common ancestry: Portuguese 5% Russian 3% Iranian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 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: ▲ 1.37%
• Current HPI: 266.9712
• 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

+600.0% since first listed

4 events — show timeline

• 2026-02-10 Listed $70,000 Iowa Great Lakes BOR
• 2014-04-22 Sold (Public Records) $38,000 Public Records
• 2011-10-03 Sold (Public Records) $38,000 Public Records
• 2010-12-16 Sold (Public Records) $10,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $444 · +5.7% YoY. Source: county tax records.