524 7th St · Whittemore, IA 50598

$50,000

2 bd · 1.5 ba · 1,034 sqft · SingleFamily public records · 34 Days on market

Built 1920 9,372 sqft lot $48/sqft · 50% below area

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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
• Appreciation +6.5/10.0
• Schools +5.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two story + 2 bedroom + 2 bath with roomy main floor kitchen, living room and dining area. The upper level has two bedrooms and a good-sized bathroom. Detached single stall garage and adequate backyard space.

Key facts

• Living room
• Dining area
• Main floor kitchen

Tags

• MAIN FLOOR KITCHEN
• LIVING ROOM
• DINING AREA
• GOOD-SIZED BATHROOM
• DETACHED SINGLE STALL GARAGE
• ADEQUATE BACKYARD SPACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential home; Two levels (2 stories)
• Construction: Vinyl siding
• Exterior features: Asphalt roof; Public maintained road

Interior

• Kitchen: Refrigerator; Water purifier
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Eat-in kitchen; Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#436 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Algona Community School District (town): math 65% / reading 70% proficiency, ranked #170 of 289 in IA (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 8 active listings in the ZIP; 15 units permitted in Kossuth County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.1% local appreciation)).
• Kossuth County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $50k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 1.91% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.75%
• DSCR: 2.68
• GRM: 4.4

CMA / ARV

• ARV (median comp): $100,971
• List price: $50,000
• Delta: -50.48%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 6th St	0.09mi	2/1.0	956 (-8%)	23mo	$91,000	$95	62
121 4th St	0.37mi	2/1.0	960 (-7%)	15mo	$94,000	$98	56
506 Kossuth St	0.14mi	2/1.5	896 (-13%)	19mo	$83,000	$93	56
113 Palo Alto St	0.36mi	3/1.5 (+1)	991 (-4%)	21mo	$107,000	$108	54
702 7th St	0.12mi	3/1.0 (+1)	1,143 (+10%)	20mo	$80,000	$70	53
419 Clay St	0.20mi	2/1.5	880 (-15%)	18mo	$110,000	$125	51
91 Palo Alto St	0.44mi	3/3.0 (+1)	1,131 (+9%)	6mo	$170,000	$150	48
509 2nd St	0.36mi	2/2.0	1,182 (+14%)	23mo	$125,000	$106	38

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

Projected returns pro-forma

3.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.4%
• Equity multiple: 3.45×
• Total profit: $34,256
• Equity at exit: $22,679

10-year hold

• IRR: 43.2%
• Equity multiple: 6.89×
• Total profit: $82,406
• Equity at exit: $35,106

Cash invested: $14,000 (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 50598

• Home prices YoY: 2.7%
• Active inventory: 8
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $440

Break-even live

Break-even rent $399

Max offer price $50,000

Occupancy floor 49%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-16
   status $50,000 Pending 34 DOM
2. 2026-06-15
   days on market $50,000 Active 34 DOM
3. 2026-06-13
   days on market $50,000 Active 32 DOM
4. 2026-06-12
   days on market $50,000 Active 31 DOM
5. 2026-06-09
   days on market $50,000 Active 28 DOM
6. 2026-06-08
   days on market $50,000 Active 27 DOM
7. 2026-06-07
   days on market $50,000 Active 26 DOM
8. 2026-06-07
   days on market $50,000 Active 25 DOM
9. 2026-06-04
   days on market $50,000 Active 22 DOM
10. 2026-06-02
    days on market $50,000 Active 21 DOM
11. 2026-06-01
    days on market $50,000 Active 20 DOM
12. 2026-05-31
    days on market $50,000 Active 19 DOM
13. 2026-05-31
    days on market $50,000 Active 18 DOM
14. 2026-05-12
    listed $50,000 Active 208-char remark
15. 1997-03-26
    soldstatus $25,000

ⓘ 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: $382 · $32/mo
• Projected year-2 tax: $584 · $49/mo
• Expected delta: +$202/yr (+$17/mo · 52.7%)

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

Taxation est. · year 1

• Rental income: $11,473
• − Mortgage interest: −$2,801
• − Property taxes: −$382
• − Insurance: −$250
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$1,455
• Taxable income: $4,750
• Est. tax owed @ 24.0%: −$1,140
• After-tax cash flow: $4,145/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: Algona Community School District
• NCES district ID: 1903360
• Math proficiency: 65% ▼ -8.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $51,369
• Composite: 57.41/100
• National rank: #1076
• State rank: #170 of 289 in IA

Livability — Whittemore

• Score: 68/100
• State rank: #436
• US rank: #9475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whittemore, IA
• Population (ZIP): 927

Population outlook (Kossuth County) Hauer SSP2

• Today (2025): 14,667 people
• By 2030: 14,445 · -1.5%
• By 2040: 14,093 · -3.9%
• By 2050: 13,825 · -5.7%
• By 2075: 14,039 · -4.3%
• By 2100: 13,662 · -6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Native American 1%
• Common ancestry: Portuguese 13% Iranian 6% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Kossuth

• 2024 margin: Solid R (+44.2) · D 27.3% · R 71.4% · Other 1.3%
• 2008→2024 swing: -47.4pp toward R · 2008: 3.2pp · 2024: -44.2pp
• All cycles: 2024: R+44.2 2020: R+39.4 2016: R+36.5 2012: R+12.3 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.07%
• Current HPI: 115.3277
• 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

+100.0% since first listed

3 events — show timeline

• 2026-06-15 Pending — Iowa Great Lakes BOR
• 2026-05-12 Listed $50,000 Iowa Great Lakes BOR
• 1997-03-26 Sold (Public Records) $25,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $382 · +3.2% YoY. Source: county tax records.