1106 N 6th St #43 · Indianola, IA 50125

$132,900

2 bd · 2.0 ba · 986 sqft · Condo public records · 146 Days on market

Built 2004 $135/sqft · at area comps Est $133k · at est. $200/mo HOA · 11% of rent

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Why this score? — see what drove the C+ 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 +23.7/30.0
• 1% rule +8.2/10.0
• DSCR +7.6/10.0
• ARV discount +7.4/15.0
• Schools +6.3/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully refreshed 2-bedroom, 2-bath condo is ready to impress! Fresh paint throughout (yes, even the ceilings!) and new LVP flooring give the space a clean, modern feel. The spacious open-concept living and dining areas is perfect for relaxing or entertaining, complete with a cozy fireplace. Plus, enjoy the convenience of a one-car detached garage - the closest one to the building! All of this in a fantastic location close to shopping and everyday conveniences.

Key facts

• Fantastic location
• New lvp flooring
• Cozy fireplace

Tags

• NEW LVP FLOORING
• COZY FIREPLACE
• ONE-CAR DETACHED GARAGE
• FANTASTIC LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $133k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.3% in Indianola — 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 87/100 on livability (#10 in IA, #332 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Indianola Community School District (town): math 74% / reading 72% proficiency, ranked #83 of 289 in IA (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 241 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $919 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $78k; list at $133k implies a 70% gain — meaningful room to come down on a strong offer.

Recommended offer $116,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 6.3

CMA / ARV

• ARV (median comp): $132,737
• List price: $132,900
• Delta: 0.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-5,337
• Equity at exit: $19,816

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $16,645
• Equity at exit: $11,491

Cash invested: $37,212 (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 50125

• Home prices YoY: -34.5%
• Active inventory: 241
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$697
• Tax from tax record: −$178 /mo · $2,140/yr
• Insurance: −$55
• HOA: −$200
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $252

Break-even live

Break-even rent $1,431

Max offer price $132,900

Occupancy floor 81%

Sensitivity live

Price	-10% $327	-5% $289	+0% $252	+5% $214	+10% $177
Rent	-10% $114	-5% $183	+0% $252	+5% $321	+10% $390
Rate	-1.0pp $319	-0.5pp $286	base $252	+0.5pp $217	+1.0pp $182

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 N 6th St #8 Indianola, IA	2.0	1.0	952	$2,600	$2.73	20d	1	0.06mi
1100 N 6th St Unit 8-2 Indianola, IA	2.0	1.0	952	$1,300	$1.37	15d	1	0.06mi
1210 N 9th St Indianola, IA	3.0	1.0	1008	$1,195	$1.19	3d	8	0.38mi
1603 N 9th St Indianola, IA	2.0	1.0	818	$1,300	$1.59	3d	1	0.47mi
205 W Boston Ave Apt 1 Indianola, IA	1.0	1.0	600	$990	$1.65	3d	1	0.80mi
311 S Howard St Unit 4 Indianola, IA	2.0	1.0	600	$795	$1.32	15d	1	1.03mi
300 S J St Apt 11 Indianola, IA	2.0	1.0	750	$800	$1.07	45d	1	1.50mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $132,900 Active 146 DOM
2. 2026-06-17
   days on market $132,900 Active 145 DOM
3. 2026-06-16
   pricedays on market $132,900 Active 144 DOM
4. 2026-06-15
   days on market $133,900 Active 143 DOM
5. 2026-06-14
   days on market $133,900 Active 141 DOM
6. 2026-06-13
   days on market $133,900 Active 140 DOM
7. 2026-06-10
   days on market $133,900 Active 138 DOM
8. 2026-06-09
   days on market $133,900 Active 137 DOM
9. 2026-06-08
   days on market $133,900 Active 136 DOM
10. 2026-06-07
    days on market $133,900 Active 135 DOM
11. 2026-06-05
    days on market $133,900 Active 132 DOM
12. 2026-06-03
    days on market $133,900 Active 131 DOM
13. 2026-06-02
    days on market $133,900 Active 130 DOM
14. 2026-06-01
    days on market $133,900 Active 129 DOM
15. 2026-05-31
    days on market $133,900 Active 128 DOM
16. 2026-05-31
    days on market $133,900 Active 127 DOM
17. 2026-05-11
    price $133,900 474-char remark

    Show marketing remark (474 chars)

    This beautifully refreshed 2-bedroom, 2-bath condo is ready to impress! Fresh paint throughout (yes, even the ceilings!) and new LVP flooring give the space a clean, modern feel. The spacious open-concept living and dining areas is perfect for relaxing or entertaining, complete with a cozy fireplace. Plus, enjoy the convenience of a one-car detached garage - the closest one to the building! All of this in a fantastic location close to shopping and everyday conveniences.

18. 2026-04-02
    price $134,900 474-char remark

    Show marketing remark (474 chars)

    This beautifully refreshed 2-bedroom, 2-bath condo is ready to impress! Fresh paint throughout (yes, even the ceilings!) and new LVP flooring give the space a clean, modern feel. The spacious open-concept living and dining areas is perfect for relaxing or entertaining, complete with a cozy fireplace. Plus, enjoy the convenience of a one-car detached garage - the closest one to the building! All of this in a fantastic location close to shopping and everyday conveniences.

19. 2026-01-23
    listed $136,000 Active 474-char remark

    Show marketing remark (474 chars)

    This beautifully refreshed 2-bedroom, 2-bath condo is ready to impress! Fresh paint throughout (yes, even the ceilings!) and new LVP flooring give the space a clean, modern feel. The spacious open-concept living and dining areas is perfect for relaxing or entertaining, complete with a cozy fireplace. Plus, enjoy the convenience of a one-car detached garage - the closest one to the building! All of this in a fantastic location close to shopping and everyday conveniences.

20. 2015-08-31
    soldstatus $78,000
21. 2014-07-24
    historical
22. 2014-01-13
    listed $85,000
23. 2004-06-16
    listed $92,500
24. 2004-05-26
    soldstatus $384,000

ⓘ 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: $2,140 · $178/mo
• Projected year-2 tax: $2,140 · $178/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $21,000
• − Mortgage interest: −$7,444
• − Property taxes: −$2,140
• − Insurance: −$664
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − HOA: −$2,400
• − Depreciation: −$3,866
• Taxable income: $1,125
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $2,752/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: Indianola Community School District
• NCES district ID: 1914640
• Math proficiency: 74% ▼ -3.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $59,896
• Composite: 62.81/100
• National rank: #666
• State rank: #83 of 289 in IA

Livability — Indianola

• Score: 87/100
• State rank: #10
• US rank: #332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indianola, IA
• Population (ZIP): 20,009

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Iranian 4% Portuguese 3% Italian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Vietnamese 1%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.04%
• Current HPI: 202.9852
• 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

-65.1% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $133,900 DMMLS
• 2026-04-02 Price Changed $134,900 DMMLS
• 2026-01-23 Listed $136,000 DMMLS
• 2015-08-31 Sold (Public Records) $78,000 Public Records
• 2014-07-24 Listing Removed — DMMLS
• 2014-01-13 Listed $85,000 DMMLS
• 2004-06-16 Listed $92,500 DMMLS
• 2004-05-26 Sold (Public Records) $384,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,140 · +1.5% YoY. Source: county tax records.