702 5th St · Correctionville, IA 51016

$85,000

2 bd · 1.0 ba · 686 sqft · SingleFamily public records · 5 Days on market

Built 1890 4,356 sqft lot

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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 +15.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +5.2/10.0
• DSCR +4.7/10.0
• 1% rule +4.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment property!

Key facts

• New flooring
• Main floor laundry
• Updated home

Tags

• UPDATED HOME
• MAIN FLOOR LAUNDRY
• NEW FLOORING
• NEW WINDOWS
• NEW INSULATION
• NEW ROOF

Property features AI

Finance

• Other: Property tax approximately $530 annually

Exterior

• Parking: No parking provided
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Shingle roof
• Exterior features: Level lot

Interior

• Kitchen: Eat-in kitchen
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Has heating
• Interior features: Eat-in kitchen; Vinyl flooring; Full unfinished basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $30 ($359/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 $82k (3.6% below list).
• Recommended offer: $82k (3.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#528 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• River Valley Community School District (rural): math 60% / reading 63% proficiency, ranked #238 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: River Valley Elementary (math 62% / reading 52%, grade C+, #436 of 616 statewide, top 74%, 174 students, 60% FRL); River Valley Junior- Senior High School (math 62% / reading 67%, grade B-, #211 of 336 statewide, top 70%, 168 students, 54% FRL) — zoned schools average 57% FRL vs 34% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($588 loan paydown + $3k appreciation (3.6% local appreciation)).
• At projected returns (3.6% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $7k; list at $85k implies a 1114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,928 (3.6% below list)

Questions for the listing agent

1. Built in 1890 — 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 B-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?
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: 0.96% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $20,580
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Fir St	0.10mi	1/1.0 (-1)	660 (-4%)	17mo	$20,000	$30	69

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

Projected returns pro-forma

3.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.63×
• Total profit: $14,934
• Equity at exit: $41,152

10-year hold

• IRR: 12.5%
• Equity multiple: 2.98×
• Total profit: $47,219
• Equity at exit: $65,800

Cash invested: $23,800 (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 51016

• Home prices YoY: 1.7%
• Active inventory: 15
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $819 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$136 /mo · $1,633/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $30

Break-even live

Break-even rent $781

Max offer price $85,000

Occupancy floor 91%

Sensitivity live

Price	-10% $78	-5% $54	+0% $30	+5% $6	+10% $-18
Rent	-10% $-35	-5% $-2	+0% $30	+5% $62	+10% $95
Rate	-1.0pp $73	-0.5pp $52	base $30	+0.5pp $8	+1.0pp $-14

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-01
   status $85,000 Pending 5 DOM
2. 2026-06-01
   days on market $85,000 Active 5 DOM
3. 2026-05-31
   days on market $85,000 Active 4 DOM
4. 2026-05-31
   days on market $85,000 Active 3 DOM
5. 2026-05-27
   listed $85,000 Active
6. 2021-11-08
   soldstatus $7,000 26-char remark

   Show marketing remark (26 chars)

   Great investment property!

7. 2021-09-21
   listed $7,000 26-char remark

   Show marketing remark (26 chars)

   Great investment property!

ⓘ 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: $1,633 · $136/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,831
• − Mortgage interest: −$4,761
• − Property taxes: −$1,633
• − Insurance: −$425
• − Repairs & maintenance: −$787
• − Management: −$787
• − Depreciation: −$2,473
• Taxable loss: −$1,034
• Est. tax savings @ 24.0%: +$248
• After-tax cash flow: $608/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: River Valley Community School District
• NCES district ID: 1910340
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $43,677
• Composite: 51.71/100
• National rank: #1686
• State rank: #238 of 289 in IA

Livability — Correctionville

• Score: 66/100
• State rank: #528
• US rank: #11786

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: Correctionville, IA
• Population (ZIP): 1,095

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 16% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.61%
• Current HPI: 215.7251
• 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

+1114.3% since first listed

3 events — show timeline

• 2026-05-27 Listed $85,000 NWIA
• 2021-11-08 Sold (MLS) $7,000 IAR
• 2021-09-21 Listed $7,000 IAR

Property tax history

+21.5%/yr

Latest (2025): $1,633 · +17.9% YoY. Source: county tax records.