400 N Richland St · Richland, IA 52585

$29,000

5 bd · 1.0 ba · 1,452 sqft · SingleFamily public records · 25 Days on market

Built 1895

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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 +8.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Project home, needs lots of work.

Key facts

• Built 1895
• Listed 25 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#650 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, health & safety D.
• Pekin Community School District (rural): math 71% / reading 73% proficiency, ranked #121 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 6 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($200 loan paydown + $2k appreciation (5.9% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,565 (1.5% below list)

Questions for the listing agent

1. Built in 1895 — 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: 4.18% ✓
• Cap rate: 37.95%
• Cash-on-cash: 113.06%
• DSCR: 6.03
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $197,472
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 E South St	0.33mi	4/2.0 (-1)	1,288 (-11%)	1mo	$175,000	$136	56

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

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.02×
• Total profit: $57,000
• Equity at exit: $18,110

10-year hold

• IRR: —
• Equity multiple: 16.96×
• Total profit: $129,568
• Equity at exit: $32,738

Cash invested: $8,120 (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 52585

• Home prices YoY: 4.0%
• Active inventory: 6
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $765

Break-even live

Break-even rent $245

Max offer price $29,000

Occupancy floor 32%

Sensitivity live

Price	-10% $781	-5% $773	+0% $765	+5% $757	+10% $749
Rent	-10% $669	-5% $717	+0% $765	+5% $813	+10% $861
Rate	-1.0pp $780	-0.5pp $772	base $765	+0.5pp $758	+1.0pp $750

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $29,000 Active 25 DOM
2. 2026-06-18
   days on market $29,000 Active 23 DOM
3. 2026-06-17
   days on market $29,000 Active 22 DOM
4. 2026-06-16
   days on market $29,000 Active 21 DOM
5. 2026-06-15
   days on market $29,000 Active 20 DOM
6. 2026-06-13
   days on market $29,000 Active 18 DOM
7. 2026-06-12
   days on market $29,000 Active 17 DOM
8. 2026-06-09
   days on market $29,000 Active 14 DOM
9. 2026-06-08
   days on market $29,000 Active 13 DOM
10. 2026-06-07
    days on market $29,000 Active 12 DOM
11. 2026-06-07
    days on market $29,000 Active 11 DOM
12. 2026-06-04
    days on market $29,000 Active 8 DOM
13. 2026-06-02
    days on market $29,000 Active 7 DOM
14. 2026-06-01
    days on market $29,000 Active 6 DOM
15. 2026-05-31
    days on market $29,000 Active 5 DOM
16. 2026-05-31
    days on market $29,000 Active 4 DOM
17. 2026-05-26
    listed $29,000 Active

ⓘ 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: $352 · $29/mo
• Projected year-2 tax: $404 · $34/mo
• Expected delta: +$52/yr (+$4/mo · 14.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°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: $14,560
• − Mortgage interest: −$1,624
• − Property taxes: −$352
• − Insurance: −$145
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$844
• Taxable income: $9,265
• Est. tax owed @ 24.0%: −$2,224
• After-tax cash flow: $6,957/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: Pekin Community School District
• NCES district ID: 1922440
• Math proficiency: 71% ▼ -3.00%
• Reading proficiency: 73% ▲ 7.00%
• Median HH income: $44,890
• Composite: 60.54/100
• National rank: #838
• State rank: #121 of 289 in IA

Livability — Richland

• Score: 63/100
• State rank: #650
• US rank: #14950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland, IA
• City population: 849
• Population (ZIP): 849

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Italian 8% Romanian 4% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Chinese 1% Arabic 0%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 154.3869
• 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

• 2026-05-26 Listed $29,000 FSBO.com

Property tax history

-3.4%/yr

Latest (2025): $352 · +2.9% YoY. Source: county tax records.