3684 550th Ave · Cylinder, IA 50528

$66,400

4 bd · 1.0 ba · 1,366 sqft · SingleFamily public records · 281 Days on market

Built 1890 3.83 ac lot ↓ 44% since listing

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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
• Appreciation +6.3/10.0
• Schools +5.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

Key facts

• Block walls
• Roll up door
• Full cement floor

Tags

• ALL STEEL MACHINE SHED
• FULL CEMENT FLOOR
• SLIDING DOORS
• ROLL UP DOOR
• BLOCK WALLS
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $58k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#315 in IA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Emmetsburg Community School District (town): math 64% / reading 71% proficiency, ranked #176 of 289 in IA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Elementary School (math 72% / reading 77%, grade A, #131 of 616 statewide, top 27%, 300 students, 41% FRL); Emmetsburg Middle School (math 68% / reading 67%, grade A-, #133 of 246 statewide, top 56%, 225 students, 48% FRL); Emmetsburg High School (math 57% / reading 72%, grade B-, #211 of 336 statewide, top 70%, 245 students, 33% FRL).
• Market conditions: 3 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($459 loan paydown + $2k appreciation (2.7% local appreciation)).
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,432 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.78% ✓
• Cap rate: 13.80%
• Cash-on-cash: 26.81%
• DSCR: 2.19
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.80×
• Total profit: $33,388
• Equity at exit: $28,667

10-year hold

• IRR: 32.9%
• Equity multiple: 5.48×
• Total profit: $83,280
• Equity at exit: $43,275

Cash invested: $18,592 (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 50528

• Home prices YoY: 2.2%
• Active inventory: 3
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$348
• Tax from tax record: −$143 /mo · $1,714/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $415

Break-even live

Break-even rent $657

Max offer price $66,400

Occupancy floor 60%

Sensitivity live

Price	-10% $453	-5% $434	+0% $415	+5% $397	+10% $378
Rent	-10% $322	-5% $369	+0% $415	+5% $462	+10% $509
Rate	-1.0pp $449	-0.5pp $432	base $415	+0.5pp $398	+1.0pp $381

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: $16,600
• Closing costs: $1,992
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $66,400 Active 281 DOM
2. 2026-06-21
   days on market $66,400 Active 280 DOM
3. 2026-06-21
   days on market $66,400 Active 279 DOM
4. 2026-06-18
   days on market $66,400 Active 277 DOM
5. 2026-06-17
   days on market $66,400 Active 276 DOM
6. 2026-06-16
   days on market $66,400 Active 275 DOM
7. 2026-06-15
   days on market $66,400 Active 274 DOM
8. 2026-06-13
   days on market $66,400 Active 272 DOM
9. 2026-06-12
   days on market $66,400 Active 271 DOM
10. 2026-06-09
    days on market $66,400 Active 268 DOM
11. 2026-06-08
    days on market $66,400 Active 267 DOM
12. 2026-06-07
    days on market $66,400 Active 266 DOM
13. 2026-06-05
    days on market $66,400 Active 264 DOM
14. 2026-06-04
    days on market $66,400 Active 262 DOM
15. 2026-06-02
    days on market $66,400 Active 261 DOM
16. 2026-06-01
    days on market $66,400 Active 260 DOM
17. 2026-05-31
    days on market $66,400 Active 259 DOM
18. 2026-05-31
    days on market $66,400 Active 258 DOM
19. 2026-05-07
    price $66,500 956-char remark

    Show marketing remark (956 chars)

    This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

20. 2026-03-03
    price $82,500 956-char remark

    Show marketing remark (956 chars)

    This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

21. 2025-12-04
    price $89,000 956-char remark

    Show marketing remark (956 chars)

    This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

22. 2025-10-22
    price $109,000 956-char remark

    Show marketing remark (956 chars)

    This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

23. 2025-09-14
    listed $119,000 Active 956-char remark

    Show marketing remark (956 chars)

    This 3.83 acre acreage has a lot to offer. The 46' X 80' all steel machine shed is an excellent shape, with electric, 2 sets of sliding doors, and full cement floor. The 18' X 50' shed is steel, is in good shape as well. There is also a nice garage size shed- steel, with roll op door, that needs door repair but otherwise good. There is also a very cool traditional barn with block walls- needs roof repair but is nice and straight. The house has been neglected for some time, and could be rehabbed by the right person, but no value is being considered in the listing for the home, and the GWH will list the house as being razed. Buyer can change that after closing. This acreage offers a nice set of buildings in an excellent location, and would be a great investment for rehab, rent out the buildings, or a perfect spot to build a home, or use the land and the excellent buildings to suit your needs. Call or text today on this excelllent opportunity

ⓘ 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: $1,714 · $143/mo
• Projected year-2 tax: $1,714 · $143/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,188
• − Mortgage interest: −$3,719
• − Property taxes: −$1,714
• − Insurance: −$332
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$1,932
• Taxable income: $4,221
• Est. tax owed @ 24.0%: −$1,013
• After-tax cash flow: $3,971/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: Emmetsburg Community School District
• NCES district ID: 1910950
• Math proficiency: 64% ▲ 2.00%
• Reading proficiency: 71% ▲ 7.00%
• Median HH income: $46,839
• Composite: 56.97/100
• National rank: #1110
• State rank: #176 of 289 in IA

Livability — Cylinder

• Score: 72/100
• State rank: #315
• US rank: #6193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 365

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 11% Iranian 2% Slovak 2%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.68%
• Current HPI: 121.7645
• 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

-44.1% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $66,500 IAR
• 2026-03-03 Price Changed $82,500 IAR
• 2025-12-04 Price Changed $89,000 IAR
• 2025-10-22 Price Changed $109,000 IAR
• 2025-09-14 Listed $119,000 IAR

Property tax history

+7.7%/yr

Latest (2025): $1,714 · +2.3% YoY. Source: county tax records.