1301 6th St · Eldora, IA 50627

$54,900

3 bd · 2.0 ba · 1,610 sqft · SingleFamily public records · 77 Days on market

Built 1958 0.29 ac lot $34/sqft · 61% below area Est $100k · 45% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks MLS

Fixer upper on a large lot. Property being sold in AS IS, WHERE IS condition. No repairs will be made by the seller. This property is also being marketed via auction.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1958

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#336 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Eldora-New Providence Community School District (rural): math 60% / reading 66% proficiency, ranked #217 of 289 in IA (top 75%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1958 — 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 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 2.01% ✓
• Cap rate: 15.75%
• Cash-on-cash: 33.77%
• DSCR: 2.50
• GRM: 4.1

CMA / ARV

• ARV (median comp): $100,159
• List price: $54,900
• Delta: -45.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 6th St	0.02mi	3/2.0	1,620 (+1%)	10mo	$155,000	$96	90
816 17th Ave	0.31mi	3/2.0	1,616 (+0%)	9mo	$163,500	$101	78
1510 3rd St	0.23mi	4/2.5 (+1)	1,648 (+2%)	3mo	$180,000	$109	76
1606 3rd St Pl	0.30mi	3/3.0	1,536 (-5%)	8mo	$148,000	$96	68
1302 4th St	0.10mi	4/3.0 (+1)	1,840 (+14%)	2mo	$160,000	$87	61
902 7th St	0.31mi	2/1.0 (-1)	1,702 (+6%)	13mo	$132,000	$78	56
1714 12th St	0.52mi	4/1.0 (+1)	1,569 (-2%)	8mo	$24,000	$15	56
1702 Washington St	0.57mi	3/1.5	1,464 (-9%)	4mo	$120,000	$82	53
806 12th St	0.56mi	3/2.0	1,546 (-4%)	17mo	$158,000	$102	53
1409 10th St	0.30mi	4/2.0 (+1)	1,825 (+13%)	7mo	$150,000	$82	52
2006 10th St	0.55mi	4/3.0 (+1)	1,740 (+8%)	10mo	$385,000	$221	44
1513 16th Ave	0.69mi	2/2.0 (-1)	1,512 (-6%)	18mo	$166,000	$110	38

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

Projected returns pro-forma

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

5-year hold

• IRR: 29.1%
• Equity multiple: 2.22×
• Total profit: $18,713
• Equity at exit: $8,186

10-year hold

• IRR: 36.5%
• Equity multiple: 4.38×
• Total profit: $51,993
• Equity at exit: $4,747

Cash invested: $15,372 (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 50627

• Home prices YoY: -3.7%
• Active inventory: 29
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $433

Break-even live

Break-even rent $555

Max offer price $54,900

Occupancy floor 56%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-03-10
   listed $54,900 Active 166-char remark

   Show marketing remark (166 chars)

   Fixer upper on a large lot. Property being sold in AS IS, WHERE IS condition. No repairs will be made by the seller. This property is also being marketed via auction.

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $1,534 · $128/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $13,234
• − Mortgage interest: −$3,075
• − Property taxes: −$1,534
• − Insurance: −$274
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$1,597
• Taxable income: $4,636
• Est. tax owed @ 24.0%: −$1,113
• After-tax cash flow: $4,079/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: Eldora-New Providence Community School District
• NCES district ID: 1910690
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,655
• Composite: 53.42/100
• National rank: #1470
• State rank: #217 of 289 in IA

Livability — Eldora

• Score: 71/100
• State rank: #336
• US rank: #6849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eldora, IA
• City population: 3,431
• Population (ZIP): 3,431

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Vietnam
• Languages at home: 95% English-only · Vietnamese 1% Arabic 1% Spanish 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.92%
• Current HPI: 155.9198
• 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

• 2026-03-10 Listed $54,900 CIBOR

Property tax history

-0.6%/yr

Latest (2025): $1,534 · +8.8% YoY. Source: county tax records.