903 E Pennsylvania Ave · Ottumwa, IA 52501

$98,500

3 bd · 1.0 ba · 982 sqft · SingleFamily public records · 166 Days on market

Built 1955 8,276 sqft lot $100/sqft · 31% below area Est $143k · 31% 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.8/10.0
• Schools +4.3/10.0
• 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

Great location near Ottumwa Regional Health Center, Indian Hills, and many amenities. Original hardwood floors. Open kitchen and dining area. Remaining appliances and storage shed are included. Call your favorite realtor for a showing. Please note that the furnace is not working and needs fixed or replaced. The property is priced accordingly.

Key facts

• Storage shed
• 8,276 sq ft lot
• Built 1955

Tags

• OPEN KITCHEN AND DINING AREA
• ORIGINAL HARDWOOD FLOORS
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.6% in Ottumwa — 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 (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 192 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.28% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• GRM: 6.5

CMA / ARV

• ARV (median comp): $142,849
• List price: $98,500
• Delta: -31.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1218 Brentwood Dr	0.08mi	3/1.5	864 (-12%)	1mo	$115,000	$133	74
1332 Brentwood Dr	0.07mi	2/1.0 (-1)	1,056 (+8%)	18mo	$91,000	$86	64
1354 Brentwood Dr	0.11mi	2/1.0 (-1)	875 (-11%)	15mo	$90,000	$103	59
817 Grant St	0.72mi	3/1.0	976 (-1%)	18mo	$64,000	$66	50
801 N Ash St	0.66mi	2/1.0 (-1)	983 (+0%)	24mo	$18,000	$18	44
524 E Alta Vista Ave	0.72mi	2/2.0 (-1)	974 (-1%)	15mo	$85,000	$87	44
752 N Jefferson St	0.57mi	3/1.0	896 (-9%)	20mo	$58,000	$65	42
1016 Grant St	0.69mi	3/1.0	1,122 (+14%)	8mo	$75,000	$67	37
1207 George St	0.57mi	3/1.5	1,080 (+10%)	24mo	$192,400	$178	35
11632 Bladensburg Rd	0.50mi	4/2.5 (+1)	1,080 (+10%)	22mo	$230,000	$213	31

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,349
• Equity at exit: $14,687

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $25,730
• Equity at exit: $8,516

Cash invested: $27,580 (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 52501

• Active inventory: 192
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $287

Break-even live

Break-even rent $902

Max offer price $98,500

Occupancy floor 72%

Sensitivity live

Price	-10% $343	-5% $315	+0% $287	+5% $259	+10% $231
Rent	-10% $187	-5% $237	+0% $287	+5% $337	+10% $387
Rate	-1.0pp $336	-0.5pp $312	base $287	+0.5pp $261	+1.0pp $235

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $98,500 Active 166 DOM
2. 2026-06-18
   days on market $98,500 Active 164 DOM
3. 2026-06-17
   days on market $98,500 Active 163 DOM
4. 2026-06-16
   days on market $98,500 Active 162 DOM
5. 2026-06-15
   days on market $98,500 Active 161 DOM
6. 2026-06-13
   days on market $98,500 Active 159 DOM
7. 2026-06-12
   days on market $98,500 Active 158 DOM
8. 2026-06-09
   days on market $98,500 Active 155 DOM
9. 2026-06-08
   days on market $98,500 Active 154 DOM
10. 2026-06-07
    days on market $98,500 Active 153 DOM
11. 2026-06-07
    days on market $98,500 Active 152 DOM
12. 2026-06-04
    days on market $98,500 Active 149 DOM
13. 2026-06-02
    days on market $98,500 Active 148 DOM
14. 2026-06-01
    days on market $98,500 Active 147 DOM
15. 2026-05-31
    days on market $98,500 Active 146 DOM
16. 2026-05-31
    days on market $98,500 Active 145 DOM
17. 2026-01-04
    listed $98,500 Active 344-char remark

    Show marketing remark (344 chars)

    Great location near Ottumwa Regional Health Center, Indian Hills, and many amenities. Original hardwood floors. Open kitchen and dining area. Remaining appliances and storage shed are included. Call your favorite realtor for a showing. Please note that the furnace is not working and needs fixed or replaced. The property is priced accordingly.

18. 2025-10-29
    price $98,500
19. 2025-10-20
    price $89,500
20. 2025-08-26
    price $99,900
21. 2025-07-10
    price $112,500
22. 2025-07-03
    listed $119,900 Active
23. 2022-05-06
    soldstatus $92,000
24. 2021-11-23
    listed $97,500
25. 2021-04-09
    soldstatus $75,000
26. 2021-04-06
    soldstatus $75,000
27. 2021-02-22
    listed $75,000
28. 2019-10-30
    soldstatus $52,000
29. 2019-10-29
    soldstatus $52,000
30. 2018-11-01
    listed $69,900

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $1,862 · $155/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,184
• − Mortgage interest: −$5,518
• − Property taxes: −$1,862
• − Insurance: −$492
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$2,865
• Taxable income: $2,017
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $2,958/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+40.9% since first listed

14 events — show timeline

• 2026-01-04 Listed $98,500 IAR
• 2025-10-29 Price Changed $98,500 IAR
• 2025-10-20 Price Changed $89,500 IAR
• 2025-08-26 Price Changed $99,900 IAR
• 2025-07-10 Price Changed $112,500 IAR
• 2025-07-03 Listed $119,900 IAR
• 2022-05-06 Sold (MLS) $92,000 IAR
• 2021-11-23 Listed $97,500 IAR
• 2021-04-09 Sold (Public Records) $75,000 Public Records
• 2021-04-06 Sold (MLS) $75,000 IAR
• 2021-02-22 Listed $75,000 IAR
• 2019-10-30 Sold (Public Records) $52,000 Public Records
• 2019-10-29 Sold (MLS) $52,000 IAR
• 2018-11-01 Listed $69,900 IAR

Property tax history

+1.4%/yr

Latest (2025): $1,862 · +5.6% YoY. Source: county tax records.