810 E Washington Ave · Red Oak, IA 51566

$10,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 30 Days on market

Built 1900

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.6/30.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Online Bidding Only! Real estate closes at 10:00 am June 11th, 2026. Single Family Residence 1 1/2 story, 3 bed , 1 bath , detached garage, approximately 1304 sq. ft. living area situated on . 20 acres. Whether you are looking for a personal property to fix up and make your own or an investment this home offers tons of potential for either.

Key facts

• Garage
• Built 1900
• Listed 29 days

Property features AI

Exterior

• Parking: Off-street parking; Attached or detached 1-car garage
• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Composition roof
• Exterior features: Front porch; Deck; Corner lot; Asphalt road frontage

Interior

• Basement: Partial, unfinished basement
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Other interior features
• Laundry & utility: Laundry on the main level

🔨 Auction listing. The $10,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $134,312 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $10k).
• Recommended offer: $10k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#428 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Red Oak Community School District (town): math 58% / reading 59% proficiency, ranked #255 of 289 in IA (top 88%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Inman Elementary School (math 63% / reading 47%, grade C, #459 of 616 statewide, top 75%, 496 students, 59% FRL); Red Oak Early Childhood Center (74 students, 62% FRL); Red Oak Junior/Senior High School (math 55% / reading 67%, grade C+, #258 of 336 statewide, top 78%, 474 students, 55% FRL).
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 13 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $929 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $39k (80%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 20.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $9,850 (1.5% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.67% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.06%
• DSCR: 0.69
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $134,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 E Prospect St	0.41mi	2/1.5 (-1)	1,301 (-0%)	7mo	$155,000	$119	68
900 Boundary St	0.33mi	2/2.0 (-1)	1,270 (-3%)	9mo	$58,000	$46	64
1005 N 2nd St	0.59mi	3/2.0	1,294 (-1%)	4mo	$55,000	$43	63
1109 E Reed St	0.28mi	3/2.0	1,380 (+6%)	14mo	$110,000	$80	62
904 N 6th St	0.36mi	3/3.0	1,396 (+7%)	3mo	$188,250	$135	61
601 S 6th St	0.55mi	4/2.0 (+1)	1,394 (+7%)	5mo	$182,000	$131	50
207 W Coolbaugh St	0.60mi	2/2.0 (-1)	1,190 (-9%)	1mo	$78,000	$66	48
709 Maple St	0.57mi	3/2.0	1,468 (+13%)	3mo	$105,000	$72	46
1108 Kelly Cir	0.28mi	3/1.5	1,485 (+14%)	19mo	$169,900	$114	46
100 W Valley St	0.61mi	2/1.0 (-1)	1,164 (-11%)	9mo	$50,000	$43	41
507 E Elm St	0.54mi	2/2.0 (-1)	1,116 (-14%)	4mo	$115,000	$103	38
1104 Irene Ct	0.75mi	4/2.0 (+1)	1,182 (-9%)	15mo	$150,000	$127	28

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: -28.5%
• Equity multiple: 0.05×
• Total profit: $-35,836
• Equity at exit: $20,026

10-year hold

• IRR: -27.9%
• Equity multiple: -0.31×
• Total profit: $-49,287
• Equity at exit: $11,613

Cash invested: $37,607 (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 51566

• Home prices YoY: -33.3%
• Active inventory: 56
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$704
• Tax est. 1.5%: −$168 /mo · $2,015/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $-221

Break-even live

Break-even rent $1,175

Max offer price $102,311

Occupancy floor —

Sensitivity live

Price	-10% $-128	-5% $-175	+0% $-221	+5% $-268	+10% $-314
Rent	-10% $-292	-5% $-257	+0% $-221	+5% $-186	+10% $-150
Rate	-1.0pp $-154	-0.5pp $-187	base $-221	+0.5pp $-256	+1.0pp $-291

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: $33,578
• Closing costs: $4,029
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 N 8th St Red Oak, IA	1.0–3.0	1.0–2.0	792	$895	$1.13	16d	11	1.33mi

Listing history 18 events

1. 2026-06-18
   days on market $10,000 Active 30 DOM
2. 2026-06-17
   days on market $10,000 Active 29 DOM
3. 2026-06-16
   days on market $10,000 Active 28 DOM
4. 2026-06-15
   days on market $10,000 Active 27 DOM
5. 2026-06-13
   days on market $10,000 Active 25 DOM
6. 2026-06-12
   pricedays on market $10,000 Active 24 DOM
7. 2026-06-09
   days on market $49,000 Active 21 DOM
8. 2026-06-08
   days on market $49,000 Active 20 DOM
9. 2026-06-07
   days on market $49,000 Active 19 DOM
10. 2026-06-05
    days on market $49,000 Active 17 DOM
11. 2026-06-04
    days on market $49,000 Active 15 DOM
12. 2026-06-02
    days on market $49,000 Active 14 DOM
13. 2026-06-01
    days on market $49,000 Active 13 DOM
14. 2026-05-31
    days on market $49,000 Active 12 DOM
15. 2026-05-31
    days on market $49,000 Active 11 DOM
16. 2026-05-19
    listed $49,000 Active
17. 2020-10-22
    soldstatus $44,500
18. 2020-01-16
    listed $41,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $10,740
• − Mortgage interest: −$7,524
• − Property taxes: −$2,015
• − Insurance: −$672
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$3,907
• Taxable loss: −$5,095
• Est. tax savings @ 24.0%: +$1,223
• After-tax cash flow: $-1,431/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: Red Oak Community School District
• NCES district ID: 1924000
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $38,902
• Composite: 48.77/100
• National rank: #2092
• State rank: #255 of 289 in IA

Livability — Red Oak

• Score: 68/100
• State rank: #428
• US rank: #9239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Oak, IA
• City population: 7,004
• Population (ZIP): 7,004

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 9,518 people
• By 2030: 9,116 · -4.2%
• By 2040: 8,303 · -12.8%
• By 2050: 7,595 · -20.2%
• By 2075: 6,568 · -31.0%
• By 2100: 5,800 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 1% Asian 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+39.1) · D 29.8% · R 68.9% · Other 1.3%
• 2008→2024 swing: -28.5pp toward R · 2008: -10.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+39.0 2016: R+42.4 2012: R+21.6 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.42%
• Current HPI: 187.1643
• 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

-75.9% since first listed

4 events — show timeline

• 2026-06-11 Price Changed $10,000 SWIAR
• 2026-05-19 Listed $49,000 SWIAR
• 2020-10-22 Sold (Public Records) $44,500 Public Records
• 2020-01-16 Listed $41,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $1,334 · +4.2% YoY. Source: county tax records.