1001 E 6th St · Atlantic, IA 50022

$70,000

3 bd · 2.0 ba · 1,706 sqft · Other · 22 Days on market

Built 1999 Fair condition

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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
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living without giving up space, storage, or comfort. This mobile home sits in a fantastic location just outside the Sycamore Village Mobile Home Park in Atlantic and comes with a rare bonus & acirc; & euro; & rdquo; a two-car garage! Inside, you & acirc; & euro; & trade; ll find a spacious open layout flowing from the kitchen to dining and living areas, creating a bright and connected feel throughout the home. The oversized primary suite offers a large bathroom and plenty of room to unwind, while the separate laundry room adds convenience you & acirc; & euro; & trade; ll appreciate every day. Outside, the beautiful vegetation and outdoor space

Key facts

• Outdoor space
• Two-car garage
• Spacious open layout

Tags

• TWO-CAR GARAGE
• SPACIOUS OPEN LAYOUT
• SEPARATE LAUNDRY ROOM
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.0% in Atlantic — 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 74/100 on livability (#243 in IA, #4,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, amenities F, commute F.
• Atlantic Community School District (town): math 68% / reading 72% proficiency, ranked #155 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 51 active listings in the ZIP; 14 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.65% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.18%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.9%
• Equity multiple: 1.81×
• Total profit: $15,913
• Equity at exit: $10,437

10-year hold

• IRR: 28.2%
• Equity multiple: 3.50×
• Total profit: $49,002
• Equity at exit: $6,052

Cash invested: $19,600 (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 50022

• Home prices YoY: -28.8%
• Active inventory: 51
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $428

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 58%

Sensitivity live

Price	-10% $476	-5% $452	+0% $428	+5% $403	+10% $379
Rent	-10% $337	-5% $382	+0% $428	+5% $473	+10% $519
Rate	-1.0pp $463	-0.5pp $445	base $428	+0.5pp $410	+1.0pp $391

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $70,000 Active 22 DOM
2. 2026-06-18
   days on market $70,000 Active 20 DOM
3. 2026-06-17
   days on market $70,000 Active 19 DOM
4. 2026-06-16
   days on market $70,000 Active 18 DOM
5. 2026-06-15
   days on market $70,000 Active 17 DOM
6. 2026-06-13
   days on market $70,000 Active 15 DOM
7. 2026-06-12
   days on market $70,000 Active 14 DOM
8. 2026-06-09
   days on market $70,000 Active 11 DOM
9. 2026-06-08
   days on market $70,000 Active 10 DOM
10. 2026-06-07
    days on market $70,000 Active 9 DOM
11. 2026-06-07
    days on market $70,000 Active 8 DOM
12. 2026-06-04
    days on market $70,000 Active 5 DOM
13. 2026-06-02
    days on market $70,000 Active 4 DOM
14. 2026-06-01
    days on market $70,000 Active 3 DOM
15. 2026-05-31
    days on market $70,000 Active 2 DOM
16. 2026-05-30
    listed $70,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $13,845
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$2,036
• Taxable income: $4,272
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $4,107/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

The home requires significant repairs and maintenance, including roof, siding, flooring, and interior wall repairs, as well as HVAC maintenance and landscaping improvements. These updates will significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage and potential leaks.
• Major siding — The siding is worn and discolored, indicating it may need repainting or replacement.
• Major flooring — The exterior flooring is worn and may need repair or replacement.
• Major interior walls/paint — The interior walls and paint are in poor condition, indicating a need for repainting or repairs.
• Major landscaping — The landscaping is overgrown and in need of trimming and maintenance.
• Major HVAC — The HVAC system appears old and may need maintenance or replacement.
• Major foundation — There are visible signs of wear and potential structural issues that may need addressing.

Value-add opportunities

• Both painting — Painting the exterior and interior will improve the home's curb appeal and interior condition.
• Both landscaping — Trimming and maintaining the landscaping will improve the home's curb appeal and overall appearance.
• Both HVAC maintenance — Maintaining the HVAC system will improve comfort and energy efficiency, making the home more attractive to buyers and renters.
• Both roof repair — Repairing the roof will address a major issue and prevent further damage, improving the home's overall condition and value.
• Both siding repair/replacement — Repairing or replacing the siding will improve the home's appearance and increase its value.
• Both flooring repair/replacement — Repairing or replacing the flooring will improve the home's appearance and increase its value.
• Both interior wall and paint repair — Repairing or repainting the interior walls will improve the home's appearance and increase its value.
• Both foundation repair — Repairing the foundation will address potential structural issues and improve the home's overall condition and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and discoloration suggest significant damage and potential leaks.	Major	$15,000–50,000
siding · The siding is worn and discolored, indicating it may need repainting or replacement.	Major	$15,000–50,000
flooring · The exterior flooring is worn and may need repair or replacement.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint are in poor condition, indicating a need for repainting or repairs.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and in need of trimming and maintenance.	Major	$15,000–50,000
HVAC · The HVAC system appears old and may need maintenance or replacement.	Major	$15,000–50,000
foundation · There are visible signs of wear and potential structural issues that may need addressing.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both painting — Painting the exterior and interior will improve the home's curb appeal and interior condition. ↑
• Both landscaping — Trimming and maintaining the landscaping will improve the home's curb appeal and overall appearance. ↑
• Both HVAC maintenance — Maintaining the HVAC system will improve comfort and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both roof repair — Repairing the roof will address a major issue and prevent further damage, improving the home's overall condition and value. ↑
• Both siding repair/replacement — Repairing or replacing the siding will improve the home's appearance and increase its value. ↑
• Both flooring repair/replacement — Repairing or replacing the flooring will improve the home's appearance and increase its value. ↑
• Both interior wall and paint repair — Repairing or repainting the interior walls will improve the home's appearance and increase its value. ↑
• Both foundation repair — Repairing the foundation will address potential structural issues and improve the home's overall condition and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Atlantic Community School District
• NCES district ID: 1903930
• Math proficiency: 68% ▬ 0.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $41,877
• Composite: 58.58/100
• National rank: #987
• State rank: #155 of 289 in IA

Livability — Atlantic

• Score: 74/100
• State rank: #243
• US rank: #4704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic, IA
• City population: 8,472
• Population (ZIP): 8,472

Population outlook (Cass County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 11,911 · -4.3%
• By 2040: 10,904 · -12.4%
• By 2050: 10,005 · -19.7%
• By 2075: 8,030 · -35.5%
• By 2100: 5,865 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+40.7) · D 28.9% · R 69.6% · Other 1.5%
• 2008→2024 swing: -29.9pp toward R · 2008: -10.8pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+38.0 2016: R+39.8 2012: R+18.9 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.62%
• Current HPI: 162.2127
• 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

1 event — show timeline

• 2026-05-30 Listed $70,000 FSBO.com