444 Sherman Ave · Cherokee, IA 51012

$67,500

2 bd · 1.5 ba · 1,478 sqft · SingleFamily public records · 10 Days on market

Built 1890 5,663 sqft lot $46/sqft · 40% below area Est $113k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 3 bedroom 1.75 bath bungalow home with a partial finished attic home sitting on a corner lot and is looking for it's next owner to give it some TLC. Main floor has kitchen, dining room, living room, 2 bedrooms and a full bath with laundry. Upstairs consists of an open bedroom and 3/4 bath. there are 2 open porches for your morning and evening enjoyment! There is a one car detached garage.

Key facts

• 5,663 sq ft lot
• Garage
• Built 1890

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water supply; Public sewer service
• Home design: Residential single-family home; Lot approximately 0.13 acre
• Construction: Aluminum siding
• Exterior features: Shingle roof; Public water; Public sewer

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Natural gas heating with forced air; Window cooling units
• Interior features: Water softener; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Cap rate 14.2% vs local median 4.9% in Cherokee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#83 in IA, #1,698 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cherokee Community School District (town): math 65% / reading 67% proficiency, ranked #191 of 289 in IA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cherokee Elementary School (math 57% / reading 52%, grade C, #462 of 616 statewide, top 79%, 492 students, 43% FRL); Cherokee Middle School (math 65% / reading 64%, grade A-, #157 of 246 statewide, top 67%, 355 students, 42% FRL).
• Market conditions: 44 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $55k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,500

Questions for the listing agent

1. Built in 1890 — 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 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?
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: 1.72% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.26%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $113,127
• List price: $67,500
• Delta: -40.33%
• 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
6 Sioux Valley Dr	0.44mi	3/1.0 (+1)	1,483 (+0%)	10mo	$120,000	$81	64
415 E Cedar St	0.20mi	3/1.5 (+1)	1,292 (-13%)	4mo	$87,500	$68	61
440 E Spruce St	0.25mi	3/2.0 (+1)	1,597 (+8%)	12mo	$135,000	$85	58
442 Dakota Ave	0.32mi	3/1.5 (+1)	1,360 (-8%)	11mo	$31,000	$23	57
544 Park Ave	0.32mi	3/2.0 (+1)	1,620 (+10%)	6mo	$159,250	$98	57
602 N Roosevelt Ave	0.10mi	3/1.5 (+1)	1,668 (+13%)	15mo	$190,101	$114	57
1403 Susan Ave	0.74mi	3/2.0 (+1)	1,464 (-1%)	2mo	$140,000	$96	56
1008 N Hughes Ave	0.58mi	3/2.0 (+1)	1,550 (+5%)	6mo	$124,000	$80	53
518 E Spruce St	0.30mi	3/2.0 (+1)	1,642 (+11%)	10mo	$205,000	$125	52
410 Valley View Dr	0.67mi	3/2.0 (+1)	1,310 (-11%)	1mo	$169,000	$129	42
613 Jefferies St	0.43mi	3/1.0 (+1)	1,296 (-12%)	14mo	$105,000	$81	41
526 W Maple St	0.63mi	2/1.0	1,262 (-15%)	10mo	$90,000	$71	36

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: 22.5%
• Equity multiple: 1.92×
• Total profit: $17,426
• Equity at exit: $10,064

10-year hold

• IRR: 30.5%
• Equity multiple: 3.74×
• Total profit: $51,753
• Equity at exit: $5,836

Cash invested: $18,900 (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 51012

• Home prices YoY: -21.1%
• Active inventory: 44
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $445

Break-even live

Break-even rent $595

Max offer price $67,500

Occupancy floor 57%

Sensitivity live

Price	-10% $483	-5% $464	+0% $445	+5% $426	+10% $407
Rent	-10% $354	-5% $399	+0% $445	+5% $491	+10% $537
Rate	-1.0pp $479	-0.5pp $462	base $445	+0.5pp $428	+1.0pp $410

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 W Cedar St Unit 405 Cherokee, IA	3.0	1.5	1100	$1,050	$0.95	21d	1	0.72mi
942 Riverview Dr Cherokee, IA	1.0–2.0	1.0–2.0	1050	$1,495	$1.42	14d	20	0.76mi
900 Rock Island Ave Cherokee, IA	2.0–3.0	1.0–2.0	1058	$845	$0.80	21d	12	1.11mi

Listing history 6 events

1. 2026-05-03
   status Pending 245-char remark
2. 2026-04-23
   listed $67,500 Active 245-char remark
3. 2024-12-19
   soldstatus $55,000 Closed 401-char remark

   Show marketing remark (401 chars)

   This is a 3 bedroom 1.75 bath bungalow home with a partial finished attic home sitting on a corner lot and is looking for it's next owner to give it some TLC. Main floor has kitchen, dining room, living room, 2 bedrooms and a full bath with laundry. Upstairs consists of an open bedroom and 3/4 bath. there are 2 open porches for your morning and evening enjoyment! There is a one car detached garage.

4. 2024-12-19
   soldstatus $57,500

   Show marketing remark (401 chars)

   This is a 3 bedroom 1.75 bath bungalow home with a partial finished attic home sitting on a corner lot and is looking for it's next owner to give it some TLC. Main floor has kitchen, dining room, living room, 2 bedrooms and a full bath with laundry. Upstairs consists of an open bedroom and 3/4 bath. there are 2 open porches for your morning and evening enjoyment! There is a one car detached garage.

5. 2024-11-19
   status Pending 401-char remark

   Show marketing remark (401 chars)

   This is a 3 bedroom 1.75 bath bungalow home with a partial finished attic home sitting on a corner lot and is looking for it's next owner to give it some TLC. Main floor has kitchen, dining room, living room, 2 bedrooms and a full bath with laundry. Upstairs consists of an open bedroom and 3/4 bath. there are 2 open porches for your morning and evening enjoyment! There is a one car detached garage.

6. 2024-11-12
   listed $55,000 Active 401-char remark

   Show marketing remark (401 chars)

   This is a 3 bedroom 1.75 bath bungalow home with a partial finished attic home sitting on a corner lot and is looking for it's next owner to give it some TLC. Main floor has kitchen, dining room, living room, 2 bedrooms and a full bath with laundry. Upstairs consists of an open bedroom and 3/4 bath. there are 2 open porches for your morning and evening enjoyment! There is a one car detached garage.

ⓘ 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: $1,056 · $88/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$2/yr ($0/mo · 0.2%)

ⓘ 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 6/10 Major
• 🌡 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: $13,901
• − Mortgage interest: −$3,781
• − Property taxes: −$1,056
• − Insurance: −$338
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$1,964
• Taxable income: $4,538
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $4,251/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: Cherokee Community School District
• NCES district ID: 1907170
• Math proficiency: 65% ▼ -5.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $45,935
• Composite: 55.66/100
• National rank: #1226
• State rank: #191 of 289 in IA

Livability — Cherokee

• Score: 80/100
• State rank: #83
• US rank: #1698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherokee, IA
• City population: 6,313
• Population (ZIP): 6,313

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Iranian 3% Slovak 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Asian/Pacific 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.34%
• Current HPI: 221.5831
• 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

+22.7% since first listed

6 events — show timeline

• 2026-05-03 Pending — NWIA
• 2026-04-23 Listed $67,500 NWIA
• 2024-12-19 Sold (Public Records) $57,500 Public Records
• 2024-12-19 Sold (MLS) $55,000 NWIA
• 2024-11-19 Pending — NWIA
• 2024-11-12 Listed $55,000 NWIA

Property tax history

+0.4%/yr

Latest (2025): $1,056 · -1.5% YoY. Source: county tax records.