1326 141st St #1324

River Sioux, IA 51545

$42,500B+

3 bd · 1.0 ba · 1,090 sqft · Built 1914 · SingleFamily · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,037/mo
• Mortgage (P&I): −$223
• Tax + insurance: −$110
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $487/mo
• Annual: $5,839/yr
• Cap rate: 20.03%
• Cash-on-cash: 49.07%
• DSCR: 3.18
• 1% rule: 2.44%
• Cash to close: $11,900

Investor read

• This is a 3-bed/1.0-bath single-family listed at $42k.
• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• It's been on market 23 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($294 loan paydown + $2k appreciation (3.9% local appreciation)).
• Location reads 58/100 on livability (#884 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• West Harrison Community School District (rural): math 55% / reading 65% proficiency, ranked #281 of 330 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Harrison Elementary (math 54% / reading 54%, grade C, #462 of 616 statewide, top 79%, 161 students, 55% FRL); West Harrison Middle School/High School (math 57% / reading 62%, grade C+, #263 of 336 statewide, top 81%, 148 students, 43% FRL) — zoned schools average 49% FRL vs 32% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.6% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 41 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.