24891 Mcclelland Dr · Orleans, IA 51360

$69,900

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 77 Days on market

Built 1977 $67/sqft · 87% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Land is not included in the cabin sale and must be purchased separately from a separate landowner at the same time as the cabin. Current land lease is not transferable, and a new lease will not be offered. Sweet 2-bedroom cottage with loft, a sun-filled open kitchen and living area, and views overlooking the sand beach on Big Spirit. Full of classic cabin charm, this inviting lakeside retreat offers a lovely setting for quiet mornings, sunny afternoons on the deck, and simple days at the lake.

Key facts

• Lakeside retreat
• Living area
• Open kitchen

Tags

• OPEN KITCHEN
• LIVING AREA
• VIEWS OVERLOOKING SAND BEACH
• LAKESIDE RETREAT
• SUNNY AFTERNOONS ON THE DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#902 in IA) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: schools C-, employment C-, health & safety D+.
• Spirit Lake Community School District (town): math 73% / reading 78% proficiency, ranked #59 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 143 active listings in the ZIP; 295 units permitted in Dickinson County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dickinson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.02% ✓
• Cap rate: 17.35%
• Cash-on-cash: 39.49%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

• ARV (median comp): $524,237
• List price: $69,900
• Delta: -86.67%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.8%
• Equity multiple: 2.52×
• Total profit: $29,710
• Equity at exit: $10,422

10-year hold

• IRR: 42.5%
• Equity multiple: 5.02×
• Total profit: $78,753
• Equity at exit: $6,044

Cash invested: $19,572 (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 51360

• Active inventory: 143
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$76 /mo · $908/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $644

Break-even live

Break-even rent $597

Max offer price $69,900

Occupancy floor 49%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $69,900 Active 77 DOM
2. 2026-06-17
   days on market $69,900 Active 76 DOM
3. 2026-06-16
   days on market $69,900 Active 75 DOM
4. 2026-06-15
   days on market $69,900 Active 74 DOM
5. 2026-06-13
   days on market $69,900 Active 72 DOM
6. 2026-06-12
   days on market $69,900 Active 71 DOM
7. 2026-06-09
   days on market $69,900 Active 68 DOM
8. 2026-06-08
   days on market $69,900 Active 67 DOM
9. 2026-06-07
   days on market $69,900 Active 66 DOM
10. 2026-06-07
    days on market $69,900 Active 65 DOM
11. 2026-06-04
    days on market $69,900 Active 62 DOM
12. 2026-06-03
    price $69,900 Active 61 DOM
13. 2026-06-02
    days on market $99,900 Active 61 DOM
14. 2026-06-01
    days on market $99,900 Active 60 DOM
15. 2026-05-31
    days on market $99,900 Active 59 DOM
16. 2026-05-31
    days on market $99,900 Active 58 DOM
17. 2026-04-02
    listed $99,900 Active 498-char remark

    Show marketing remark (498 chars)

    Land is not included in the cabin sale and must be purchased separately from a separate landowner at the same time as the cabin. Current land lease is not transferable, and a new lease will not be offered. Sweet 2-bedroom cottage with loft, a sun-filled open kitchen and living area, and views overlooking the sand beach on Big Spirit. Full of classic cabin charm, this inviting lakeside retreat offers a lovely setting for quiet mornings, sunny afternoons on the deck, and simple days at the lake.

ⓘ 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: $908 · $76/mo
• Projected year-2 tax: $1,003 · $84/mo
• Expected delta: +$95/yr (+$8/mo · 10.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥98°F today · 14 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: $16,944
• − Mortgage interest: −$3,915
• − Property taxes: −$908
• − Insurance: −$350
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$2,033
• Taxable income: $7,026
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $6,043/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: Spirit Lake Community School District
• NCES district ID: 1927000
• Math proficiency: 73% ▼ -9.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $56,797
• Composite: 64.57/100
• National rank: #535
• State rank: #59 of 289 in IA

Livability — Orleans

• Score: 58/100
• State rank: #902
• US rank: #21395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,561

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,133 people
• By 2030: 18,610 · +2.6%
• By 2040: 19,456 · +7.3%
• By 2050: 20,307 · +12.0%
• By 2075: 23,155 · +27.7%
• By 2100: 24,449 · +34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Portuguese 9% Iranian 8% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+40.0) · D 29.5% · R 69.5% · Other 1.1%
• 2008→2024 swing: -34.6pp toward R · 2008: -5.4pp · 2024: -40.0pp
• All cycles: 2024: R+40.0 2020: R+33.6 2016: R+36.0 2012: R+18.0 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.60%
• Current HPI: 209.6205
• 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

1 event — show timeline

• 2026-04-02 Listed $99,900 Iowa Great Lakes BOR

Property tax history

+3.2%/yr

Latest (2025): $908 · -3.4% YoY. Source: county tax records.