2403 297th Ave · Sidney, IA 51652

$130,000

3 bd · 2.5 ba · 924 sqft · Manufactured public records · 26 Days on market

Built 1900 2.00 ac lot ↓ 13% 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 +10.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 2403 297th Avenue, Sidney, IA. This unique acreage offers a peaceful country setting tucked just off the highway with the convenience of easy access. The home currently features 3 bedrooms and 1 bathroom with plenty of potential for updates and customization to make it your own. Situated on just over 2 acres, the property includes mature trees, open outdoor space, and a detached 2-car garage. A great opportunity for buyers looking for a rural setting with room to grow.

Key facts

• Easy access
• Open outdoor space
• Rural setting

Tags

• PEACEFUL COUNTRY SETTING
• EASY ACCESS
• MATURE TREES
• OPEN OUTDOOR SPACE
• DETACHED 2-CAR GARAGE
• RURAL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $-72 ($-864/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (22.1% below list).
• Recommended offer: $101k (22.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#180 in IA, #3,220 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sidney Community School District (rural): math 71% / reading 67% proficiency, ranked #159 of 289 in IA (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 7 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Fremont County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,275 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.82×
• Total profit: $66,215
• Equity at exit: $117,114

10-year hold

• IRR: 20.2%
• Equity multiple: 6.46×
• Total profit: $198,597
• Equity at exit: $252,561

Cash invested: $36,400 (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 51652

• Home prices YoY: 5.3%
• Active inventory: 10
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$136 /mo · $1,634/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-72

Break-even live

Break-even rent $1,104

Max offer price $117,282

Occupancy floor —

Sensitivity live

Price	-10% $2	-5% $-35	+0% $-72	+5% $-109	+10% $-146
Rent	-10% $-152	-5% $-112	+0% $-72	+5% $-32	+10% $8
Rate	-1.0pp $-7	-0.5pp $-39	base $-72	+0.5pp $-106	+1.0pp $-140

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-09
   days on market $130,000 Active 26 DOM
2. 2026-06-08
   days on market $130,000 Active 25 DOM
3. 2026-06-07
   days on market $130,000 Active 24 DOM
4. 2026-06-07
   days on market $130,000 Active 23 DOM
5. 2026-06-04
   days on market $130,000 Active 20 DOM
6. 2026-06-02
   days on market $130,000 Active 19 DOM
7. 2026-06-01
   days on market $130,000 Active 18 DOM
8. 2026-05-31
   days on market $130,000 Active 17 DOM
9. 2026-05-31
   days on market $130,000 Active 16 DOM
10. 2026-05-14
    listed $130,000 Active 484-char remark

    Show marketing remark (484 chars)

    Welcome to 2403 297th Avenue, Sidney, IA. This unique acreage offers a peaceful country setting tucked just off the highway with the convenience of easy access. The home currently features 3 bedrooms and 1 bathroom with plenty of potential for updates and customization to make it your own. Situated on just over 2 acres, the property includes mature trees, open outdoor space, and a detached 2-car garage. A great opportunity for buyers looking for a rural setting with room to grow.

11. 2025-03-04
    listed $150,000 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: $1,634 · $136/mo
• Projected year-2 tax: $1,838 · $153/mo
• Expected delta: +$204/yr (+$17/mo · 12.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°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: $12,153
• − Mortgage interest: −$7,282
• − Property taxes: −$1,634
• − Insurance: −$650
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,782
• Taxable loss: −$3,139
• Est. tax savings @ 24.0%: +$753
• After-tax cash flow: $-111/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: Sidney Community School District
• NCES district ID: 1926250
• Math proficiency: 71% ▼ -4.00%
• Reading proficiency: 67% ▼ -2.00%
• Median HH income: $49,071
• Composite: 58.47/100
• National rank: #1001
• State rank: #159 of 289 in IA

Livability — Sidney

• Score: 77/100
• State rank: #180
• US rank: #3220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,551

Population outlook (Fremont County) Hauer SSP2

• Today (2025): 6,095 people
• By 2030: 5,632 · -7.6%
• By 2040: 4,806 · -21.1%
• By 2050: 4,106 · -32.6%
• By 2075: 2,947 · -51.6%
• By 2100: 2,205 · -63.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fremont

• 2024 margin: Solid R (+44.6) · D 27.0% · R 71.6% · Other 1.4%
• 2008→2024 swing: -41.0pp toward R · 2008: -3.6pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+42.3 2016: R+40.6 2012: R+9.2 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.83%
• Current HPI: 353.5363
• 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

-13.3% since first listed

2 events — show timeline

• 2026-05-14 Listed $130,000 IAR
• 2025-03-04 Listed $150,000 IAR

Property tax history

+1.0%/yr

Latest (2025): $1,634 · +2.0% YoY. Source: county tax records.