65 13 Ave W · Albia, IA 52531

$1

2 bd · 1.0 ba · 1,108 sqft · Other · 81 Days on market

Built 1910 0.26 ac lot $0/sqft · 100% below area

---

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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-kept 2-bedroom, 1-bath bungalow featuring a masonry fireplace and a functional layout. Exterior amenities include a 2-car detached garage with a small built-in shop, plus a covered carport with a garage door for additional sheltered parking. A large concrete driveway provides ample space for extra vehicles, trailers, or guest parking. Solid property with versatile storage and workspace options.

Key facts

• 0.26 acre lot
• 3 garage spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $1.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $1).

Location & tenants

• Location reads 73/100 on livability (#265 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Albia Community School District (town): math 68% / reading 77% proficiency, ranked #117 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 30 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• At projected returns (10.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 97441.00% ✓
• Cap rate: 923738.68%
• Cash-on-cash: 3299044.24%
• DSCR: 146789.90
• GRM: 0.0

CMA / ARV

• ARV (median comp): $101,910
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 175153.68×
• Total profit: $49,043
• Equity at exit: $1

10-year hold

• IRR: —
• Equity multiple: 378205.18×
• Total profit: $105,897
• Equity at exit: $2

Cash invested: $0 (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 52531

• Home prices YoY: 23.6%
• Active inventory: 30

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $770

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-15
   days on market $1 Active 81 DOM
2. 2026-06-13
   days on market $1 Active 79 DOM
3. 2026-06-12
   days on market $1 Active 78 DOM
4. 2026-06-09
   days on market $1 Active 75 DOM
5. 2026-06-08
   days on market $1 Active 74 DOM
6. 2026-06-07
   days on market $1 Active 73 DOM
7. 2026-06-05
   days on market $1 Active 71 DOM
8. 2026-06-04
   days on market $1 Active 69 DOM
9. 2026-06-02
   days on market $1 Active 68 DOM
10. 2026-06-01
    days on market $1 Active 67 DOM
11. 2026-05-31
    days on market $1 Active 66 DOM
12. 2026-05-31
    days on market $1 Active 65 DOM
13. 2026-03-26
    listed $1 Active 402-char remark

    Show marketing remark (402 chars)

    Well-kept 2-bedroom, 1-bath bungalow featuring a masonry fireplace and a functional layout. Exterior amenities include a 2-car detached garage with a small built-in shop, plus a covered carport with a garage door for additional sheltered parking. A large concrete driveway provides ample space for extra vehicles, trailers, or guest parking. Solid property with versatile storage and workspace options.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $11,693
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$0
• Taxable income: $9,822
• Est. tax owed @ 24.0%: −$2,357
• After-tax cash flow: $6,880/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: Albia Community School District
• NCES district ID: 1903270
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $44,429
• Composite: 60.88/100
• National rank: #814
• State rank: #117 of 289 in IA

Livability — Albia

• Score: 73/100
• State rank: #265
• US rank: #5139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albia, IA
• City population: 5,885
• Population (ZIP): 5,885

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 7,921 people
• By 2030: 7,918 · +-0.0%
• By 2040: 7,873 · -0.6%
• By 2050: 7,776 · -1.8%
• By 2075: 7,556 · -4.6%
• By 2100: 7,055 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 1%
• Common ancestry: Iranian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 2% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+50.7) · D 24.2% · R 74.9%
• 2008→2024 swing: -45.5pp toward R · 2008: -5.2pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+46.4 2016: R+41.2 2012: R+7.7 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 60.82%
• Current HPI: 318.4427
• 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

Property tax history

+5.3%/yr

Latest (2018): $582 · +1.4% YoY. Source: county tax records.