109 E Rock Is · Knoxville, IA 50138

$47,900

2 bd · 1.0 ba · 848 sqft · SingleFamily public records · 64 Days on market

Built 1893 7,552 sqft lot ↓ 20% since listing

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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 +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 2-bedroom, 1-bath fixer-upper home in Knoxville, IA offering a fantastic opportunity for investors or homeowners looking to build equity. This property sits on a generous corner lot and is within 9 blocks of the Knoxville Raceway. It is minutes from parks, schools, and the square in town with all it's many ammenities. This property is ready for it's new owner.

Key facts

• Minutes from parks
• Corner lot
• 7,552 sq ft lot

Tags

• CORNER LOT
• MINUTES FROM PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

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 ($954 rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 2.4% in Knoxville — 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 69/100 on livability (#406 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Knoxville Community School District (town): math 62% / reading 63% proficiency, ranked #220 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $331 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Marion 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,026 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — 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: 1.99% ✓
• Cap rate: 16.34%
• Cash-on-cash: 35.89%
• DSCR: 2.60
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $124,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 N 3rd St	0.25mi	2/1.5	902 (+6%)	2mo	$160,000	$177	74
313 N Roche St	0.30mi	2/2.0	819 (-3%)	14mo	$120,000	$147	65
701 W Middle St	0.51mi	2/1.0	840 (-1%)	15mo	$95,000	$113	62
706 W Jones St	0.46mi	2/1.0	780 (-8%)	10mo	$78,000	$100	57
905 N Harlan St	0.17mi	3/1.0 (+1)	960 (+13%)	12mo	$120,000	$125	55
309 N 3rd St	0.31mi	2/1.0	934 (+10%)	16mo	$136,900	$147	55
114 N Attica Rd	0.71mi	2/2.0	864 (+2%)	6mo	$159,000	$184	55
910 E Marion St	0.64mi	3/1.0 (+1)	911 (+7%)	6mo	$82,000	$90	48
110 S Harlan St	0.52mi	2/1.5	950 (+12%)	10mo	$105,000	$111	46
1205 N Depot St	0.39mi	3/2.0 (+1)	970 (+14%)	10mo	$182,000	$188	41
1419 Glover St	0.57mi	3/2.0 (+1)	936 (+10%)	10mo	$180,000	$192	39
314 W South St	0.75mi	3/1.0 (+1)	960 (+13%)	19mo	$162,500	$169	22

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: 31.6%
• Equity multiple: 2.33×
• Total profit: $17,811
• Equity at exit: $7,142

10-year hold

• IRR: 38.7%
• Equity multiple: 4.62×
• Total profit: $48,516
• Equity at exit: $4,142

Cash invested: $13,412 (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 50138

• Home prices YoY: -25.3%
• Active inventory: 100
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$251
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $401

Break-even live

Break-even rent $446

Max offer price $47,900

Occupancy floor 53%

Sensitivity live

Price	-10% $428	-5% $415	+0% $401	+5% $388	+10% $374
Rent	-10% $326	-5% $363	+0% $401	+5% $439	+10% $476
Rate	-1.0pp $425	-0.5pp $413	base $401	+0.5pp $389	+1.0pp $376

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1870 W Pleasant St Unit 14 Knoxville, IA	3.0	1.0	962	$1,150	$1.20	44d	1	1.07mi
1870 W Pleasant St Unit 33 Knoxville, IA	2.0	1.0	740	$925	$1.25	44d	1	1.07mi

Listing history 4 events

1. 2026-04-14
   status Pending
2. 2026-03-31
   price $47,900
3. 2026-02-27
   price $54,900
4. 2026-02-09
   listed $59,900 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: $976 · $81/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,447
• − Mortgage interest: −$2,683
• − Property taxes: −$976
• − Insurance: −$240
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$1,393
• Taxable income: $4,323
• Est. tax owed @ 24.0%: −$1,038
• After-tax cash flow: $3,776/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: Knoxville Community School District
• NCES district ID: 1915840
• Math proficiency: 62% ▼ -6.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $49,594
• Composite: 53.11/100
• National rank: #1512
• State rank: #220 of 289 in IA

Livability — Knoxville

• Score: 69/100
• State rank: #406
• US rank: #8643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knoxville, IA
• County: Marion County · 25,533 people
• City population: 11,117
• Metro: Pella, IA
• Population (ZIP): 11,117
• Household income: $74,693
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 122.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 12% Portuguese 4% Italian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.37%
• Current HPI: 237.7055
• Rent YoY: —
• Metro: Pella, IA
• 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

-20.0% since first listed

4 events — show timeline

• 2026-04-14 Pending — DMMLS
• 2026-03-31 Price Changed $47,900 DMMLS
• 2026-02-27 Price Changed $54,900 DMMLS
• 2026-02-09 Listed $59,900 DMMLS

Property tax history

+4.9%/yr

Latest (2025): $976 · +118.8% YoY. Source: county tax records.