1110 S Mill St · Decorah, IA 52101

$214,900

3 bd · 1.5 ba · 1,293 sqft · SingleFamily public records · 11 Days on market

Built 1963 9,225 sqft lot Est $247k · 13% under

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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).

• ARV discount +13.3/15.0
• Cash flow +12.7/30.0
• Schools +7.0/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice ranch home located on a quiet dead end street in a great location. Would make a great starter or retirement home.

Key facts

• Recent updates
• Quiet dead-end road
• Fenced-in backyard

Tags

• QUIET DEAD-END ROAD
• FENCED-IN BACKYARD
• TWO EGRESS WINDOWS
• RECENT UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-23 ($-281/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (15.5% below list).
• Recommended offer: $182k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.4% in Decorah — 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 85/100 on livability (#16 in IA, #499 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Decorah Community School District (town): math 80% / reading 84% proficiency, ranked #21 of 289 in IA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: John Cline Elementary School (354 students, 28% FRL); Decorah Middle School (math 77% / reading 83%, grade A+, #32 of 246 statewide, top 13%, 461 students, 26% FRL); Decorah High School (math 85% / reading 92%, grade A, #3 of 336 statewide, top 1%, 576 students, 22% FRL).
• Market conditions: 77 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 49 units permitted in Winneshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Winneshiek County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $144k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $181,612 (15.5% 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.85% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $246,963
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1110 S Mill St	0.00mi	3/2.0	1,293 (0%)	1mo	$207,000	$160	97
1112 S Mill St St	0.01mi	3/1.5	1,396 (+8%)	2mo	$266,000	$191	84
1020 Mechanic St	0.09mi	3/1.0	1,272 (-2%)	19mo	$147,500	$116	75
1500 Division St	0.34mi	3/2.0	1,196 (-8%)	3mo	$240,000	$201	67
405 Washington St	0.68mi	4/1.5 (+1)	1,279 (-1%)	1mo	$199,000	$156	61
406 Twin View Drive Dr	0.34mi	3/1.5	1,114 (-14%)	7mo	$250,000	$224	55
201 Hollihan St	0.50mi	3/1.0	1,407 (+9%)	10mo	$222,000	$158	52
603 Day St	0.65mi	4/1.5 (+1)	1,278 (-1%)	16mo	$140,000	$110	49
608 Day St. St	0.65mi	3/2.0	1,354 (+5%)	14mo	$280,000	$207	48
605 River St	0.50mi	3/2.0	1,192 (-8%)	18mo	$309,900	$260	46
614 Mechanic St	0.46mi	3/1.5	1,110 (-14%)	11mo	$85,000	$77	46
610 Vernon St	0.54mi	3/1.5	1,171 (-9%)	22mo	$261,000	$223	41

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-36,305
• Equity at exit: $32,042

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-33,491
• Equity at exit: $18,581

Cash invested: $60,172 (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 52101

• Home prices YoY: -26.7%
• Active inventory: 77
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,816 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$242 /mo · $2,900/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-23

Break-even live

Break-even rent $1,846

Max offer price $210,761

Occupancy floor 96%

Sensitivity live

Price	-10% $98	-5% $37	+0% $-23	+5% $-84	+10% $-145
Rent	-10% $-167	-5% $-95	+0% $-23	+5% $48	+10% $120
Rate	-1.0pp $85	-0.5pp $31	base $-23	+0.5pp $-79	+1.0pp $-136

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Washington St Decorah, IA	4.0	1.5	1279	$1,800	$1.41	4d	1	0.68mi
510 W Main St Decorah, IA	3.0	2.0	1482	$2,200	$1.48	25d	1	0.79mi

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   price $214,900
3. 2026-04-16
   listed $235,000 Active
4. 2017-05-26
   soldstatus $144,500
5. 2017-05-25
   soldstatus $145,000 118-char remark

   Show marketing remark (118 chars)

   Nice ranch home located on a quiet dead end street in a great location. Would make a great starter or retirement home.

6. 2017-04-11
   listed $149,000 118-char remark

   Show marketing remark (118 chars)

   Nice ranch home located on a quiet dead end street in a great location. Would make a great starter or retirement home.

ⓘ 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: $2,900 · $242/mo
• Projected year-2 tax: $3,137 · $261/mo
• Expected delta: +$237/yr (+$20/mo · 8.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $21,793
• − Mortgage interest: −$12,038
• − Property taxes: −$2,900
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − Depreciation: −$6,252
• Taxable loss: −$3,957
• Est. tax savings @ 24.0%: +$950
• After-tax cash flow: $669/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: Decorah Community School District
• NCES district ID: 1908730
• Math proficiency: 80% ▼ -4.00%
• Reading proficiency: 84% ▬ 0.00%
• Median HH income: $54,304
• Composite: 69.72/100
• National rank: #294
• State rank: #21 of 289 in IA

Livability — Decorah

• Score: 85/100
• State rank: #16
• US rank: #499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decorah, IA
• County: Winneshiek County · 12,706 people
• City population: 12,706
• Metro: nan
• Population (ZIP): 12,706
• Household income: $73,484
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 207.0

Population outlook (Winneshiek County) Hauer SSP2

• Today (2025): 20,379 people
• By 2030: 19,937 · -2.2%
• By 2040: 18,697 · -8.3%
• By 2050: 17,392 · -14.7%
• By 2075: 14,921 · -26.8%
• By 2100: 12,836 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 25% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Winneshiek

• 2024 margin: Lean R (+9.3) · D 44.6% · R 53.9% · Other 1.5%
• 2008→2024 swing: -31.9pp toward R · 2008: 22.7pp · 2024: -9.3pp
• All cycles: 2024: R+9.3 2020: R+5.1 2016: R+0.8 2012: D+14.8 2008: D+22.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.20%
• Current HPI: 189.63
• Rent YoY: —
• Metro: nan
• 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

+44.2% since first listed

6 events — show timeline

• 2026-04-27 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-23 Price Changed $214,900 NEIRBR as distributed by MLS GRID
• 2026-04-16 Listed $235,000 NEIRBR as distributed by MLS GRID
• 2017-05-26 Sold (Public Records) $144,500 Public Records
• 2017-05-25 Sold (MLS) $145,000 NEIRBR as distributed by MLS GRID
• 2017-04-11 Listed $149,000 NEIRBR as distributed by MLS GRID

Property tax history

+4.2%/yr

Latest (2025): $2,900 · +4.4% YoY. Source: county tax records.