306 N 1st St E · Delta, IA 52550

$88,888

2 bd · 1.0 ba · 1,156 sqft · SingleFamily public records · 69 Days on market

Built 1875 7,841 sqft lot Est $89k · at est.

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.6/15.0
• Appreciation +7.3/10.0
• 1% rule +6.3/10.0
• Schools +6.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two Bedroom and One Bathroom Ranch home with one car detached garage. Remodeled top to bottom 2025.

Key facts

• 7,841 sq ft lot
• Garage
• Built 1875

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#865 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D, schools F.
• Sigourney Community School District (rural): math 76% / reading 68% proficiency, ranked #122 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 3 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($615 loan paydown + $4k appreciation (4.6% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, 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 69 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $89k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,554 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1875 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.13% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $89,012
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 N 1st St E	0.00mi	2/1.0	1,156 (0%)	1mo	$88,888	$77	100
207 East St	0.12mi	2/1.0	1,192 (+3%)	8mo	$57,500	$48	83

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

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 2.35×
• Total profit: $33,555
• Equity at exit: $48,108

10-year hold

• IRR: 21.7%
• Equity multiple: 4.59×
• Total profit: $89,312
• Equity at exit: $81,213

Cash invested: $24,889 (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 52550

• Home prices YoY: 5.2%
• Active inventory: 3
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,003 medium
• Mortgage (P&I): −$466
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $239

Break-even live

Break-even rent $701

Max offer price $88,888

Occupancy floor 71%

Sensitivity live

Price	-10% $289	-5% $264	+0% $239	+5% $214	+10% $189
Rent	-10% $160	-5% $199	+0% $239	+5% $279	+10% $318
Rate	-1.0pp $284	-0.5pp $262	base $239	+0.5pp $216	+1.0pp $192

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: $22,222
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-21
   status Pending
2. 2026-04-03
   price $88,888
3. 2026-02-11
   listed $99,000 Active
4. 2013-07-09
   soldstatus $25,000

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $1,001 · $83/mo
• Expected delta: +$395/yr (+$33/mo · 65.1%)

ⓘ 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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,040
• − Mortgage interest: −$4,979
• − Property taxes: −$606
• − Insurance: −$444
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$2,586
• Taxable income: $1,498
• Est. tax owed @ 24.0%: −$360
• After-tax cash flow: $2,508/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: Sigourney Community School District
• NCES district ID: 1926280
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $44,250
• Composite: 60.52/100
• National rank: #840
• State rank: #122 of 289 in IA

Livability — Delta

• Score: 59/100
• State rank: #865
• US rank: #20132

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delta, IA
• Population (ZIP): 635

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Lithuanian 5% Iranian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.58%
• Current HPI: 93.0787
• 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

+255.6% since first listed

4 events — show timeline

• 2026-04-21 Pending — IAR
• 2026-04-03 Price Changed $88,888 IAR
• 2026-02-11 Listed $99,000 IAR
• 2013-07-09 Sold (Public Records) $25,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $606 · -1.9% YoY. Source: county tax records.