111 N 2nd St · Randalia, IA 52164

$65,000

2 bd · 1.0 ba · 856 sqft · SingleFamily public records · 9 Days on market

Built 1924 0.28 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Appreciation +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This two-bedroom, one-bathroom home is a perfect investment for a small family! This property includes a tidy basement with recently installed hardware (water filter, water heater, electrical box are fairly new), spacious garage that can fit up to two vehicles and all of the yard work necessities, a very large backyard featuring a bonfire area, clothesline, and cement slab. Many renovations have been done recently, a fresh coat a paint has been added to a majority of the rooms, brand new trim, and some electrical improvements have been made in the last couple of months.

Key facts

• Plumbing
• Breaker box
• Electrical wiring

Tags

• UPDATED KITCHEN
• NEW TOILET
• PLUMBING
• ELECTRICAL WIRING
• BREAKER BOX
• WATER HEATER

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Carport (1 space)
• Security: Smoke detector(s)
• Utilities: Private well water; Public sewer
• Home design: Single family residence; Residential property; Zoned R-1
• Construction: Vinyl siding; Metal roof
• Exterior features: Deck; Porch; Gravel road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating; No air conditioning
• Interior features: Vented exhaust fan; Gas water heater; Partially finished block basement; Smoke detectors
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $65k).

Location & tenants

• Location reads 54/100 on livability (#942 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• West Central Community School District (rural): math 65% / reading 65% proficiency, ranked #231 of 330 in IA (top 70%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Central Pk - 8 School (math 52% / reading 62%, grade C+, #436 of 616 statewide, top 74%, 239 students, 44% FRL).
• Market conditions: 2 active listings in the ZIP; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $20k; list at $65k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1924 — 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 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?
4. 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?
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: 1.32% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.8%
• Equity multiple: 2.41×
• Total profit: $25,599
• Equity at exit: $29,227

10-year hold

• IRR: 25.6%
• Equity multiple: 4.64×
• Total profit: $66,189
• Equity at exit: $45,042

Cash invested: $18,200 (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 52164

• Active inventory: 2
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $859 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$31 /mo · $374/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $279

Break-even live

Break-even rent $505

Max offer price $65,000

Occupancy floor 62%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-13
   listed $65,000 Active 844-char remark
2. 2026-02-01
   listed $72,000 Active 576-char remark

   Show marketing remark (576 chars)

   This two-bedroom, one-bathroom home is a perfect investment for a small family! This property includes a tidy basement with recently installed hardware (water filter, water heater, electrical box are fairly new), spacious garage that can fit up to two vehicles and all of the yard work necessities, a very large backyard featuring a bonfire area, clothesline, and cement slab. Many renovations have been done recently, a fresh coat a paint has been added to a majority of the rooms, brand new trim, and some electrical improvements have been made in the last couple of months.

3. 2019-08-30
   soldstatus $20,000

   Show marketing remark (242 chars)

   2 bedroom home with a one car attached garage. Features front porch, deck to the south and a nice size yard. New steel roof in 2019, 2017 Owners put in a new furnace, electric water heater and well tank . Own this home for less than renting.

4. 2019-03-06
   listed $24,900

   Show marketing remark (242 chars)

   2 bedroom home with a one car attached garage. Features front porch, deck to the south and a nice size yard. New steel roof in 2019, 2017 Owners put in a new furnace, electric water heater and well tank . Own this home for less than renting.

ⓘ 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: $374 · $31/mo
• Projected year-2 tax: $697 · $58/mo
• Expected delta: +$323/yr (+$27/mo · 86.4%)

ⓘ 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 · 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: $10,305
• − Mortgage interest: −$3,641
• − Property taxes: −$374
• − Insurance: −$325
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,891
• Taxable income: $2,425
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $2,769/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: West Central Community School District
• NCES district ID: 1930870
• Math proficiency: 65% ▼ -15.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $52,875
• Composite: 56.9/100
• National rank: #2381
• State rank: #231 of 330 in IA

Livability — Randalia

• Score: 54/100
• State rank: #942
• US rank: #24162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Randalia, IA
• Population (ZIP): 195

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Portuguese 5% Hungarian 1% Lithuanian 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+161.0% since first listed

5 events — show timeline

• 2026-05-22 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-13 Listed $65,000 NEIRBR as distributed by MLS GRID
• 2026-02-01 Listed $72,000 ForSaleByOwner.com
• 2019-08-30 Sold (MLS) $20,000 NEIRBR as distributed by MLS GRID
• 2019-03-06 Listed $24,900 NEIRBR as distributed by MLS GRID

Property tax history

-3.7%/yr

Latest (2025): $374 · +1.6% YoY. Source: county tax records.