624 Hamilton St · Ottumwa, IA 52501

$1

3 bd · 2.0 ba · 1,312 sqft · SingleFamily public records · 11 Days on market

Built 1952 0.28 ac lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-kept 912 sq ft home featuring 3 bedrooms and 1 bath on the main level, plus a full basement offering added living or large storage potential. The property includes a detached garage with a concrete floor, driveway, and a built-in shop area. The backyard offers a well-maintained lawn and a concrete patio for outdoor seating. Conveniently located close to schools and local businesses.

Key facts

• Well-maintained lawn
• Full basement
• Concrete patio

Tags

• FULL BASEMENT
• DETACHED GARAGE
• CONCRETE FLOOR
• BUILT-IN SHOP AREA
• WELL-MAINTAINED LAWN
• CONCRETE PATIO

Property features AI

Exterior

• Parking: Detached garage with garage door opener; Concrete driveway; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot dimensions approximately 88 x 141 feet

Interior

• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 1338356.0% vs local median 5.6% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 192 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. Built in 1952 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 141177.00% ✓
• Cap rate: 1338355.96%
• Cash-on-cash: 4779820.24%
• DSCR: 212676.10
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $167,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 W Finley Ave	0.21mi	3/1.5	1,252 (-5%)	5mo	$163,400	$131	76
519 W Finley Ave	0.17mi	3/1.0	1,196 (-9%)	2mo	$127,500	$107	72
419 S Ferry St	0.34mi	2/1.0 (-1)	1,284 (-2%)	1mo	$125,000	$97	71
321 Lynwood Ave	0.50mi	3/2.0	1,248 (-5%)	2mo	$195,000	$156	67
401 S Willard St	0.57mi	3/2.0	1,284 (-2%)	5mo	$153,000	$119	65
313 W Williams St	0.40mi	2/1.5 (-1)	1,248 (-5%)	3mo	$160,000	$128	63
1005 Hamilton St	0.20mi	3/1.0	1,142 (-13%)	8mo	$153,000	$134	58
1410 W Finley Ave	0.46mi	2/1.0 (-1)	1,230 (-6%)	6mo	$175,000	$142	54
120 Shaul Ave	0.59mi	3/2.0	1,448 (+10%)	4mo	$215,000	$148	52
249 S Ransom St	0.60mi	2/2.0 (-1)	1,162 (-11%)	3mo	$147,000	$127	45
448 Mckinley Ave	0.64mi	3/1.0	1,120 (-15%)	2mo	$114,000	$102	40
311 Minneopa Ave	0.69mi	2/1.5 (-1)	1,460 (+11%)	6mo	$185,000	$127	37

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: —
• Equity multiple: 253767.57×
• Total profit: $71,055
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 547953.32×
• Total profit: $153,427
• Equity at exit: $0

Cash invested: $0 (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 52501

• Active inventory: 192

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $1,115

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,115	-5% $1,115	+0% $1,115	+5% $1,115	+10% $1,115
Rent	-10% $1,004	-5% $1,060	+0% $1,115	+5% $1,171	+10% $1,227
Rate	-1.0pp $1,115	-0.5pp $1,115	base $1,115	+0.5pp $1,115	+1.0pp $1,115

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $1 Active 11 DOM
2. 2026-06-21
   days on market $1 Active 10 DOM
3. 2026-06-18
   days on market $1 Active 8 DOM
4. 2026-06-17
   days on market $1 Active 7 DOM
5. 2026-06-16
   days on market $1 Active 6 DOM
6. 2026-06-15
   days on market $1 Active 5 DOM
7. 2026-06-13
   days on market $1 Active 3 DOM
8. 2026-06-12
   remarks 390-char remark
9. 2026-06-12
   listed $1 Active 2 DOM

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 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: $16,941
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$0
• Taxable income: $14,231
• Est. tax owed @ 24.0%: −$3,415
• After-tax cash flow: $9,968/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

Property tax history

-1.0%/yr

Latest (2025): $1,606 · -2.9% YoY. Source: county tax records.