512 Fulton St · Remsen, IA 51050

$130,000

4 bd · 2.0 ba · 1,727 sqft · SingleFamily public records · 55 Days on market

Built 1925 8,276 sqft lot $75/sqft · 65% below area Est $229k · 43% under

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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 +19.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• DSCR +6.2/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Looking for space, potential, and the chance to build equity? This 4-bedroom, 2-bath home at 512 Fulton St offers the perfect opportunity to move in and make it your own over time. With generous living spaces and key main-floor conveniences, this home is ideal for buyers ready to roll up their sleeves and create something special. The large living room and formal dining area provide plenty of room to gather, while the main floor bedroom and laundry add everyday ease. Whether you're an investor or a homeowner with vision, this property gives you the flexibility to update as you go and truly make it yours. Located in the heart of Plymouth County, Remsen is known for its strong sense of commun

Key facts

• Main floor laundry
• Large living room
• Formal dining area

Tags

• MAIN FLOOR BEDROOM
• MAIN FLOOR LAUNDRY
• LARGE LIVING ROOM
• FORMAL DINING AREA
• LOCAL PARKS
• COMMUNITY EVENTS

Property features AI

Exterior

• Parking: Detached gravel garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Wood siding construction
• Exterior features: Shingle roof; Wood siding; 0.19-acre lot

Interior

• Bathrooms: Two three-quarter bathrooms
• Heating & cooling: Central air conditioning; Electric and natural gas heating with forced air
• Interior features: Unfinished crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (2.3% below list).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#78 in IA, #1,646 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Remsen-Union Community School District (rural): math 72% / reading 79% proficiency, ranked #59 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 8 active listings in the ZIP; 147 units permitted in Plymouth County in 2024 (112 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• 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 55 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 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?
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: 0.98% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.22
• GRM: 8.5

CMA / ARV

• ARV (median comp): $228,640
• List price: $130,000
• Delta: -43.14%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 Harrison St	0.16mi	4/2.0	1,701 (-2%)	1mo	$115,000	$68	89
622 S Washington St	0.14mi	3/2.0 (-1)	1,705 (-1%)	2mo	$259,000	$152	85
401 S Washington St	0.10mi	3/1.8 (-1)	1,735 (+0%)	19mo	$150,000	$86	73
402 Madison St	0.17mi	4/1.8	1,759 (+2%)	21mo	$165,000	$94	71
405 W 6th St	0.28mi	5/2.0 (+1)	1,667 (-4%)	7mo	$232,000	$139	70
640 Fulton St	0.17mi	3/2.0 (-1)	1,680 (-3%)	23mo	$195,000	$116	63
619 S Marion St	0.24mi	3/2.0 (-1)	1,521 (-12%)	10mo	$195,000	$128	56
117 Franklin St	0.28mi	3/3.0 (-1)	1,678 (-3%)	23mo	$250,000	$149	54
203 E Nothem Ave	0.47mi	3/1.5 (-1)	1,512 (-12%)	24mo	$155,000	$103	31

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

Projected returns pro-forma

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

5-year hold

• IRR: 27.9%
• Equity multiple: 3.21×
• Total profit: $80,558
• Equity at exit: $117,114

10-year hold

• IRR: 24.4%
• Equity multiple: 7.31×
• Total profit: $229,528
• 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 51050

• Home prices YoY: 8.1%
• Active inventory: 8
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$114 /mo · $1,374/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $153

Break-even live

Break-even rent $1,076

Max offer price $130,000

Occupancy floor 83%

Sensitivity live

Price	-10% $227	-5% $190	+0% $153	+5% $117	+10% $80
Rent	-10% $53	-5% $103	+0% $153	+5% $204	+10% $254
Rate	-1.0pp $219	-0.5pp $186	base $153	+0.5pp $120	+1.0pp $85

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 18 events

1. 2026-06-21
   days on market $130,000 Active 55 DOM
2. 2026-06-21
   days on market $130,000 Active 54 DOM
3. 2026-06-18
   days on market $130,000 Active 52 DOM
4. 2026-06-17
   days on market $130,000 Active 51 DOM
5. 2026-06-16
   days on market $130,000 Active 50 DOM
6. 2026-06-15
   days on market $130,000 Active 49 DOM
7. 2026-06-13
   days on market $130,000 Active 47 DOM
8. 2026-06-12
   days on market $130,000 Active 46 DOM
9. 2026-06-09
   days on market $130,000 Active 43 DOM
10. 2026-06-08
    days on market $130,000 Active 42 DOM
11. 2026-06-07
    days on market $130,000 Active 41 DOM
12. 2026-06-07
    days on market $130,000 Active 40 DOM
13. 2026-06-04
    days on market $130,000 Active 37 DOM
14. 2026-06-02
    days on market $130,000 Active 36 DOM
15. 2026-06-01
    days on market $130,000 Active 35 DOM
16. 2026-05-31
    days on market $130,000 Active 34 DOM
17. 2026-05-31
    days on market $130,000 Active 33 DOM
18. 2026-04-27
    listed $130,000 Active 1037-char remark

ⓘ 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: $1,374 · $114/mo
• Projected year-2 tax: $1,708 · $142/mo
• Expected delta: +$334/yr (+$28/mo · 24.3%)

ⓘ 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 ≥100°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: $15,247
• − Mortgage interest: −$7,282
• − Property taxes: −$1,374
• − Insurance: −$650
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$3,782
• Taxable loss: −$281
• Est. tax savings @ 24.0%: +$67
• After-tax cash flow: $1,907/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: Remsen-Union Community School District
• NCES district ID: 1924120
• Math proficiency: 72% ▲ 8.00%
• Reading proficiency: 79% ▲ 14.00%
• Median HH income: $57,017
• Composite: 64.57/100
• National rank: #534
• State rank: #59 of 289 in IA

Livability — Remsen

• Score: 80/100
• State rank: #78
• US rank: #1646

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Remsen, IA
• Population (ZIP): 2,909

Population outlook (Plymouth County) Hauer SSP2

• Today (2025): 25,214 people
• By 2030: 25,257 · +0.2%
• By 2040: 25,304 · +0.4%
• By 2050: 25,421 · +0.8%
• By 2075: 26,820 · +6.4%
• By 2100: 27,604 · +9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 3%

Political lean MEDSL · Plymouth

• 2024 margin: Solid R (+54.2) · D 22.3% · R 76.5% · Other 1.2%
• 2008→2024 swing: -29.2pp toward R · 2008: -25.1pp · 2024: -54.2pp
• All cycles: 2024: R+54.2 2020: R+49.3 2016: R+51.9 2012: R+34.3 2008: R+25.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.38%
• Current HPI: 259.7886
• 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

• 2026-04-27 Listed $130,000 NWIA

Property tax history

+4.0%/yr

Latest (2025): $1,374 · +20.3% YoY. Source: county tax records.