405 S Front St · Farmersburg, IA 52047

$84,900

4 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 8 Days on market

Built 1902 $55/sqft · 8% below area Est $139k · 39% under

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Why this score? — see what drove the A 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Appreciation +8.9/10.0
• Schools +5.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Don't miss out on this single-family home located on a corner lot in a small-town setting! The property is full of potential!

Key facts

• Garage
• Built 1902
• Listed 8 days

Property features AI

Finance

• Other: Lot approximately 0.43 acre (about 18,810 sq ft)
• Financial info: No investor or income/expense information provided
• HOA & community: HOA information not specified

Exterior

• Parking: 2 parking spaces; Garage with opener
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Single-family detached home; Two levels; Residential zoning
• Construction: Foundation: Other; Construction materials not specified; Year built not specified
• Exterior features: Other exterior features; Metal roof

Interior

• Kitchen: Refrigerator, Range, Dishwasher, Microwave, Garbage disposal
• Bedrooms: Bedrooms not specified
• Flooring: Flooring not specified
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Other heating type
• Interior features: Refrigerator; Range; Dishwasher; Microwave; Garbage disposal; Water softener; No fireplace; Has basement (other type)
• Laundry & utility: Main-level laundry; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 58/100 on livability (#886 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: health & safety C-, amenities F, commute F.
• Mfl Marmac Community School District (rural): math 62% / reading 68% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mfl Marmac Hs (math 67% / reading 77%, grade B+, #117 of 336 statewide, top 39%, 262 students, 31% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($587 loan paydown + $7k appreciation (7.8% local appreciation)).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1902 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.43% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (median comp): $139,125
• List price: $84,900
• Delta: -38.98%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 E Washington St	0.29mi	4/2.0	1,440 (-6%)	1mo	$118,500	$82	72
108 S Main St	0.17mi	4/2.0	1,530 (-0%)	20mo	$95,000	$62	70
105 E Adams St	0.21mi	3/1.5 (-1)	1,680 (+9%)	7mo	$145,000	$86	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.8%
• Equity multiple: 3.52×
• Total profit: $59,808
• Equity at exit: $63,429

10-year hold

• IRR: 32.0%
• Equity multiple: 7.49×
• Total profit: $154,300
• Equity at exit: $124,897

Cash invested: $23,772 (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 52047

• Home prices YoY: 3.7%
• Active inventory: 1
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$76 /mo · $910/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $406

Break-even live

Break-even rent $704

Max offer price $84,900

Occupancy floor 62%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-09
   status Pending 125-char remark
2. 2026-04-30
   listed $84,900 Active 125-char remark

ⓘ 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: $910 · $76/mo
• Projected year-2 tax: $1,121 · $93/mo
• Expected delta: +$211/yr (+$18/mo · 23.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $14,615
• − Mortgage interest: −$4,756
• − Property taxes: −$910
• − Insurance: −$424
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$2,470
• Taxable income: $3,717
• Est. tax owed @ 24.0%: −$892
• After-tax cash flow: $3,977/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: Mfl Marmac Community School District
• NCES district ID: 1918120
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 68% ▼ -3.00%
• Median HH income: $47,395
• Composite: 54.95/100
• National rank: #1305
• State rank: #198 of 289 in IA

Livability — Farmersburg

• Score: 58/100
• State rank: #886
• US rank: #20662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmersburg, IA
• Population (ZIP): 697

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 16,656 people
• By 2030: 15,986 · -4.0%
• By 2040: 14,554 · -12.6%
• By 2050: 13,187 · -20.8%
• By 2075: 11,131 · -33.2%
• By 2100: 9,733 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 7% Two or more races 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 4% Serbian 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 4% Tagalog/Filipino 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid R (+34.5) · D 32.2% · R 66.7% · Other 1.2%
• 2008→2024 swing: -51.7pp toward R · 2008: 17.2pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+28.8 2016: R+22.8 2012: D+6.9 2008: D+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.81%
• Current HPI: 217.5981
• 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

2 events — show timeline

• 2026-05-09 Pending — ECIMLS
• 2026-04-30 Listed $84,900 ECIMLS

Property tax history

+7.2%/yr

Latest (2025): $910 · -8.8% YoY. Source: county tax records.