472 6th Ave · Manilla, IA 51454

$115,000

3 bd · 1.5 ba · 2,260 sqft · SingleFamily public records · 42 Days on market

Built 1890 Est $156k · 26% under ↓ 9% since listing

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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 +17.3/30.0
• ARV discount +15.0/15.0
• Appreciation +8.4/10.0
• Schools +6.5/10.0
• DSCR +5.4/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

Key facts

• Sunny corner lot
• Gorgeous wood floors
• Built 1890

Tags

• TWO STORY FAMILY HOME
• SUNNY CORNER LOT
• GORGEOUS WOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (10.9% below list).
• Recommended offer: $102k (10.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#680 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Ikm-Manning Community School District (rural): math 75% / reading 78% proficiency, ranked #58 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Ikm-Manning Middle School (math 78% / reading 80%, grade A+, #42 of 246 statewide, top 17%, 284 students, 35% FRL); Ikm-Manning High School (math 67% / reading 82%, grade B+, #89 of 336 statewide, top 30%, 196 students, 39% FRL).
• Market conditions: 7 active listings in the ZIP; 18 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($795 loan paydown + $8k appreciation (6.7% local appreciation)).
• Crawford County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,488 (10.9% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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?
5. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.11%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $155,940
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 9th Ave	0.18mi	3/2.5	2,184 (-3%)	13mo	$150,000	$69	71
848 Main St	0.30mi	2/1.0 (-1)	2,240 (-1%)	13mo	$68,000	$30	67
432 Highway 45	0.48mi	3/2.0	1,986 (-12%)	19mo	$185,000	$93	39

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

Projected returns pro-forma

6.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.35×
• Total profit: $43,553
• Equity at exit: $77,675

10-year hold

• IRR: 18.6%
• Equity multiple: 4.81×
• Total profit: $122,783
• Equity at exit: $145,755

Cash invested: $32,200 (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 51454

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,025 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $83

Break-even live

Break-even rent $919

Max offer price $115,000

Occupancy floor 87%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-03-31
   soldstatus $118,000 Closed 684-char remark

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

2. 2026-02-24
   status Pending

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

3. 2026-02-24
   status Pending 684-char remark

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

4. 2026-02-15
   price $115,000

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

5. 2026-02-15
   price $115,000 684-char remark

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

6. 2026-01-13
   listed $125,000 Active

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

7. 2026-01-13
   listed $125,000 Active

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

8. 2026-01-13
   listed $125,000 Active 684-char remark

   Show marketing remark (684 chars)

   Motivated Seller! Come into this beautifully maintained 3 bedroom, 2 bath charmer with 2,260 sq ft of warm, inviting living space. Featuring gorgeous hardwood floors, an eat-in kitchen, and a formal dining room with fireplace, this home blends vintage elegance with everyday comfort. The primary suite upstairs boasts a cozy sunroom retreat, while a bonus room and enclosed porch offer even more flexible space. Enjoy entertaining on the generously sized deck, and play safely in the fully fenced front yard. Recent updates include a new roof (2019) and water heater (2023). With endless charm throughout, this home offers the perfect mix of character, space, and small-town serenity.

9. 2025-12-02
   price $130,000
10. 2025-11-22
    listed $130,000,000 Active
11. 2025-09-27
    listed $130,000 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: $902 · $75/mo
• Projected year-2 tax: $1,354 · $113/mo
• Expected delta: +$452/yr (+$38/mo · 50.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,299
• − Mortgage interest: −$6,442
• − Property taxes: −$902
• − Insurance: −$575
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$3,345
• Taxable loss: −$933
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $1,226/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: Ikm-Manning Community School District
• NCES district ID: 1914880
• Math proficiency: 75% ▼ -1.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $49,285
• Composite: 64.68/100
• National rank: #524
• State rank: #58 of 289 in IA

Livability — Manilla

• Score: 63/100
• State rank: #680
• US rank: #15748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manilla, IA
• Population (ZIP): 1,399

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 17,186 people
• By 2030: 17,322 · +0.8%
• By 2040: 17,948 · +4.4%
• By 2050: 18,955 · +10.3%
• By 2075: 22,130 · +28.8%
• By 2100: 25,483 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 5% Portuguese 5% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+43.5) · D 27.8% · R 71.3%
• 2008→2024 swing: -48.6pp toward R · 2008: 5.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+36.8 2016: R+38.2 2012: R+8.2 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.73%
• Current HPI: 199.6247
• 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

-9.2% since first listed

11 events — show timeline

• 2026-03-31 Sold (MLS) $118,000 IAR
• 2026-02-24 Pending — SWIAR
• 2026-02-24 Pending — IAR
• 2026-02-15 Price Changed $115,000 SWIAR
• 2026-02-15 Price Changed $115,000 IAR
• 2026-01-13 Listed $125,000 SWIAR
• 2026-01-13 Listed $125,000 SWIAR
• 2026-01-13 Listed $125,000 IAR
• 2025-12-02 Price Changed $130,000 IAR
• 2025-11-22 Listed $130,000,000 IAR
• 2025-09-27 Listed $130,000 SWIAR

Property tax history

+2.6%/yr

Latest (2025): $902 · -3.0% YoY. Source: county tax records.