249 S Davis St · Ottumwa, IA 52501

$49,000

3 bd · 1.0 ba · 998 sqft · SingleFamily public records · 5 Days on market

Built 1900 7,405 sqft lot Est $90k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

3 bed, 1 bath home situated on a very large yard that includes an additional lot for extra space and potential. The property also features a convenient carport and plenty of room for outdoor activities, gardening, or future improvements. This fixer-upper is a great opportunity for buyers looking to add their personal touch. With its spacious lot and endless possibilities, this property has plenty to offer!

Key facts

• Large yard
• Carport
• Spacious lot

Tags

• LARGE YARD
• ADDITIONAL LOT
• CARPORT
• SPACIOUS LOT

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public sewer
• Home design: Single-family residence
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.17 acres (55 x 132)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Cap rate 21.6% 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; 2 comparable units currently listed for rent nearby; 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 $339 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,000

Questions for the listing agent

1. Built in 1900 — 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. 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.
5. 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.
6. 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: 2.56% ✓
• Cap rate: 21.62%
• Cash-on-cash: 54.74%
• DSCR: 3.44
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $89,820
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 Ellis Ave	0.41mi	2/1.0 (-1)	960 (-4%)	2mo	$73,000	$76	68
134 Minnesota St	0.58mi	3/1.0	1,015 (+2%)	3mo	$100,000	$99	68
546 Minnesota St	0.62mi	3/1.0	994 (-0%)	4mo	$72,000	$72	67
612 Clinton Ave	0.27mi	2/1.0 (-1)	906 (-9%)	1mo	$57,000	$63	66
513 S Sheridan Ave	0.15mi	2/1.0 (-1)	867 (-13%)	3mo	$50,000	$58	64
927 E Mary St	0.58mi	2/1.0 (-1)	1,008 (+1%)	5mo	$72,000	$71	62
924 Clinton Ave. Ave	0.51mi	3/1.0	912 (-9%)	0mo	$105,000	$115	61
430 S Pocahontas St	0.70mi	3/1.0	950 (-5%)	1mo	$75,000	$79	59
419 S Pocahontas St	0.72mi	3/2.0	1,008 (+1%)	5mo	$144,000	$143	56
518 Tuttle St	0.46mi	3/2.0	864 (-13%)	1mo	$160,000	$185	52
522 S Adella St	0.43mi	2/1.0 (-1)	866 (-13%)	6mo	$88,000	$102	48
711 Elma St	0.60mi	2/1.0 (-1)	872 (-13%)	1mo	$78,500	$90	45

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: 53.0%
• Equity multiple: 3.33×
• Total profit: $31,960
• Equity at exit: $7,306

10-year hold

• IRR: 58.2%
• Equity multiple: 6.78×
• Total profit: $79,308
• Equity at exit: $4,237

Cash invested: $13,720 (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
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$90 /mo · $1,074/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $626

Break-even live

Break-even rent $464

Max offer price $49,000

Occupancy floor 45%

Sensitivity live

Price	-10% $654	-5% $640	+0% $626	+5% $612	+10% $598
Rent	-10% $527	-5% $576	+0% $626	+5% $676	+10% $725
Rate	-1.0pp $651	-0.5pp $638	base $626	+0.5pp $613	+1.0pp $600

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Minneopa Ave Unit 203 Ottumwa, IA	2.0	1.0	700	$1,150	$1.64	44d	1	1.37mi
420 Minneopa Ave Unit 204 Ottumwa, IA	2.0	1.0	800	$1,350	$1.69	44d	1	1.37mi

Listing history 2 events

1. 2026-05-21
   listed $49,000 Active
2. 2014-05-01
   soldstatus $34,500

ⓘ 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: $1,074 · $90/mo
• Projected year-2 tax: $1,074 · $90/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 4/10 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: $15,080
• − Mortgage interest: −$2,745
• − Property taxes: −$1,074
• − Insurance: −$245
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$1,425
• Taxable income: $7,178
• Est. tax owed @ 24.0%: −$1,723
• After-tax cash flow: $5,788/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

Price history

+42.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $49,000 IAR
• 2014-05-01 Sold (Public Records) $34,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,074 · +5.5% YoY. Source: county tax records.