402 W Adams St · Mount Ayr, IA 50854

$87,900

2 bd · 1.0 ba · 1,008 sqft · Other public records · 8 Days on market

Built 1960 8,712 sqft lot

---

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 +23.1/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +6.6/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

THIS HOME HAS HAD LOTS OF UPDATES SINCE HITTING THE MARKET! Some of these updates include new flooring in the kitchen and laundry room, new ceiling fans in the living room, and new paint throughout the entire home on the walls and trim! This 2-bed, 1-bath home is located close to the square in Mount Ayr. When you enter the home, you are welcomed into the living room that has a serving hatch between the living room and kitchen. The kitchen is nice-sized with plenty of cabinets and a side entry-way door that leads out to a small porch. There is wood flooring throughout the home. From the kitchen there is a hallway that leads to the laundry room, bathroom, the large master bedroom and second bedroom. The hot water heater was replaced recently. The home has central air and heat. There is 1,008 square feet of living space and there is a four-foot crawlspace with access on the back side of the home. The back yard is fenced-in and has a small storage shed.

Key facts

• Bright living area
• Large yard
• Practical kitchen

Tags

• FUNCTIONAL LAYOUT
• BRIGHT LIVING AREA
• PRACTICAL KITCHEN
• FLEXIBLE BEDROOM SPACES
• LARGE YARD
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $88k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($933 rent vs $88k).

Location & tenants

• Location reads 80/100 on livability (#90 in IA, #1,875 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Mount Ayr Community School District (rural): math 80% / reading 78% proficiency, ranked #41 of 289 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 20 active listings in the ZIP; 3 units permitted in Ringgold County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($608 loan paydown + $5k appreciation (6.0% local appreciation)).
• Ringgold County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $60k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $87,900

Questions for the listing agent

1. Built in 1960 — 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 A-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: 1.06% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.66%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.44×
• Total profit: $35,374
• Equity at exit: $55,250

10-year hold

• IRR: 20.7%
• Equity multiple: 4.91×
• Total profit: $96,211
• Equity at exit: $100,186

Cash invested: $24,612 (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 50854

• Home prices YoY: 3.1%
• Active inventory: 20
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $933 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$82 /mo · $990/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $157

Break-even live

Break-even rent $734

Max offer price $87,900

Occupancy floor 78%

Sensitivity live

Price	-10% $207	-5% $182	+0% $157	+5% $132	+10% $107
Rent	-10% $83	-5% $120	+0% $157	+5% $194	+10% $231
Rate	-1.0pp $201	-0.5pp $179	base $157	+0.5pp $134	+1.0pp $111

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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-05
   status Pending
2. 2026-02-20
   listed $87,900 Active
3. 2022-06-30
   soldstatus $60,500
4. 2022-06-27
   soldstatus $60,500 963-char remark

   Show marketing remark (963 chars)

   THIS HOME HAS HAD LOTS OF UPDATES SINCE HITTING THE MARKET! Some of these updates include new flooring in the kitchen and laundry room, new ceiling fans in the living room, and new paint throughout the entire home on the walls and trim! This 2-bed, 1-bath home is located close to the square in Mount Ayr. When you enter the home, you are welcomed into the living room that has a serving hatch between the living room and kitchen. The kitchen is nice-sized with plenty of cabinets and a side entry-way door that leads out to a small porch. There is wood flooring throughout the home. From the kitchen there is a hallway that leads to the laundry room, bathroom, the large master bedroom and second bedroom. The hot water heater was replaced recently. The home has central air and heat. There is 1,008 square feet of living space and there is a four-foot crawlspace with access on the back side of the home. The back yard is fenced-in and has a small storage shed.

5. 2022-02-11
   listed $68,500 963-char remark

   Show marketing remark (963 chars)

   THIS HOME HAS HAD LOTS OF UPDATES SINCE HITTING THE MARKET! Some of these updates include new flooring in the kitchen and laundry room, new ceiling fans in the living room, and new paint throughout the entire home on the walls and trim! This 2-bed, 1-bath home is located close to the square in Mount Ayr. When you enter the home, you are welcomed into the living room that has a serving hatch between the living room and kitchen. The kitchen is nice-sized with plenty of cabinets and a side entry-way door that leads out to a small porch. There is wood flooring throughout the home. From the kitchen there is a hallway that leads to the laundry room, bathroom, the large master bedroom and second bedroom. The hot water heater was replaced recently. The home has central air and heat. There is 1,008 square feet of living space and there is a four-foot crawlspace with access on the back side of the home. The back yard is fenced-in and has a small storage shed.

6. 2004-09-20
   soldstatus $31,500

ⓘ 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: $990 · $82/mo
• Projected year-2 tax: $1,185 · $99/mo
• Expected delta: +$195/yr (+$16/mo · 19.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°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: $11,198
• − Mortgage interest: −$4,924
• − Property taxes: −$990
• − Insurance: −$440
• − Repairs & maintenance: −$896
• − Management: −$896
• − Depreciation: −$2,557
• Taxable income: $496
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $1,766/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: Mount Ayr Community School District
• NCES district ID: 1919860
• Math proficiency: 80% ▼ -4.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $45,087
• Composite: 66.38/100
• National rank: #422
• State rank: #41 of 289 in IA

Livability — Mount Ayr

• Score: 80/100
• State rank: #90
• US rank: #1875

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

• Census place: Mount Ayr, IA
• Population (ZIP): 2,304

Population outlook (Ringgold County) Hauer SSP2

• Today (2025): 4,919 people
• By 2030: 4,820 · -2.0%
• By 2040: 4,617 · -6.1%
• By 2050: 4,404 · -10.5%
• By 2075: 3,931 · -20.1%
• By 2100: 3,250 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Ringgold

• 2024 margin: Solid R (+51.3) · D 23.8% · R 75.1% · Other 1.1%
• 2008→2024 swing: -45.2pp toward R · 2008: -6.1pp · 2024: -51.3pp
• All cycles: 2024: R+51.3 2020: R+46.4 2016: R+39.8 2012: R+7.2 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.00%
• Current HPI: 201.0365
• 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

+179.0% since first listed

6 events — show timeline

• 2026-03-05 Pending — IAR
• 2026-02-20 Listed $87,900 IAR
• 2022-06-30 Sold (Public Records) $60,500 Public Records
• 2022-06-27 Sold (MLS) $60,500 IAR
• 2022-02-11 Listed $68,500 IAR
• 2004-09-20 Sold (Public Records) $31,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $990 · +2.3% YoY. Source: county tax records.