331 SW 4th St

Ogden, IA 50212

$75,000B+

1 bd · 1.0 ba · 1,430 sqft · Built 1944 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $240/mo
• Annual: $2,882/yr
• Cap rate: 10.14%
• Cash-on-cash: 13.72%
• DSCR: 1.61
• 1% rule: 1.33%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $75k).
• It's been on market 22 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 81/100 on livability (#70 in IA, #1,530 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Ogden Community School District (rural): math 74% / reading 77% proficiency, ranked #61 of 289 in IA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Ogden Elementary School (math 82% / reading 77%, grade A, #71 of 616 statewide, top 15%, 321 students, 25% FRL); Ogden Middle School (math 72% / reading 72%, grade A, #95 of 246 statewide, top 42%, 165 students, 27% FRL); Ogden High School (math 67% / reading 82%, grade B+, #89 of 336 statewide, top 30%, 238 students, 23% FRL).
• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).
• Current owner paid $60k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.1% vs local median 2.8% in Ogden — 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.

Questions for listing agent

• Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.