1103 Franklin St · Keokuk, IA 52632

$19,900

4 bd · 2.0 ba · 2,995 sqft · SingleFamily public records · 14 Days on market

Built 1870 ↓ 28% since listing

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Why this score? — see what drove the D+ 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
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This corner lot home awaits your decorating ideas and has 4 BDRS, 2 baths and a 2 car detached garage. Previously an up/down duplex it could be again for the handyman. NEW roof in 2016, vinyl siding and mostly vinyl windows all around with a privacy fence on the extra half lot that goes with it. Bring it back to life and you'll have a nice home, rental or flipper.

Key facts

• Built 1870
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 53.0% vs local median 8.2% in Keokuk — 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 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Lee County population projected at -15% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,900

Questions for the listing agent

1. Built in 1870 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.80% ✓
• Cap rate: 52.98%
• Cash-on-cash: 166.74%
• DSCR: 8.42
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $152,745
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1102 High St	0.24mi	5/1.0 (+1)	2,825 (-6%)	5mo	$50,000	$18	66
911 Orleans Ave	0.14mi	3/2.0 (-1)	3,244 (+8%)	14mo	$125,000	$39	63
429 Franklin St. St	0.44mi	4/2.5	3,128 (+4%)	11mo	$152,900	$49	61
1111 Grand Ave	0.32mi	3/3.0 (-1)	3,162 (+6%)	11mo	$370,000	$117	57
605 Franklin St	0.35mi	4/2.0	2,562 (-14%)	5mo	$130,000	$51	56
717 Timea St	0.75mi	4/1.5	2,900 (-3%)	5mo	$63,110	$22	54
7 Carriage Green Est	0.61mi	3/2.5 (-1)	3,137 (+5%)	6mo	$375,000	$120	52
1905 Grand Ave	0.67mi	5/3.5 (+1)	3,266 (+9%)	4mo	$178,000	$55	39
1913 Grand Ave	0.69mi	3/3.5 (-1)	3,169 (+6%)	19mo	$300,000	$95	31

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.27×
• Total profit: $46,102
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 19.61×
• Total profit: $103,710
• Equity at exit: $1,721

Cash invested: $5,572 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$104
• Tax est. 1.5%: −$25 /mo · $298/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $774

Break-even live

Break-even rent $174

Max offer price $19,900

Occupancy floor 28%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $19,900 Active 14 DOM
2. 2026-06-17
   days on market $19,900 Active 13 DOM
3. 2026-06-16
   days on market $19,900 Active 12 DOM
4. 2026-06-15
   days on market $19,900 Active 11 DOM
5. 2026-06-13
   days on market $19,900 Active 9 DOM
6. 2026-06-12
   days on market $19,900 Active 8 DOM
7. 2026-06-09
   days on market $19,900 Active 5 DOM
8. 2026-06-08
   days on market $19,900 Active 4 DOM
9. 2026-06-07
   days on market $19,900 Active 3 DOM
10. 2026-06-07
    remarks 592-char remark
11. 2026-06-07
    listed $19,900 Active 2 DOM

ⓘ 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 ≥106°F today · 16 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: $13,849
• − Mortgage interest: −$1,115
• − Property taxes: −$298
• − Insurance: −$100
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$579
• Taxable income: $9,542
• Est. tax owed @ 24.0%: −$2,290
• After-tax cash flow: $7,000/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.80%
• Current HPI: 122.2866
• 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

-27.6% since first listed

20 events — show timeline

• 2026-06-05 Listed $19,900 FSBO.com
• 2024-08-28 Rental Removed $639 Avail
• 2024-08-20 Rental Removed $639 RENT.
• 2024-08-07 Listed for Rent $639 Avail
• 2024-04-24 Listed for Rent $639 RENT.
• 2024-03-14 Rental Removed $639 APPFOLIO
• 2024-03-01 Rental Removed $639 RENT.
• 2023-12-13 Listed for Rent $639 APPFOLIO
• 2023-12-13 Rental Removed $639 Avail
• 2023-12-10 Listed for Rent $639 Avail
• 2023-11-07 Listed for Rent $639 RENT.
• 2023-09-28 Rental Removed $639 RENT.
• 2023-09-14 Listed for Rent $639 RENT.
• 2023-09-07 Rental Removed $639 RENT.
• 2023-08-30 Rental Removed $639 Avail
• 2023-08-16 Listed for Rent $639 RENT.
• 2023-08-16 Listed for Rent $639 Avail
• 2023-01-26 Sold (Public Records) $55,050 Public Records
• 2021-08-31 Sold (MLS) $23,000 IAR
• 2021-03-25 Listed $27,500 IAR

Property tax history

-4.5%/yr

Latest (2025): $1,026 · -59.4% YoY. Source: county tax records.