363 6th Ave · Manilla, IA 51454

$74,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 18 Days on market

Built 1910 0.33 ac lot $62/sqft · 9% below area Est $82k · 9% 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 +11.5/15.0
• DSCR +9.6/10.0
• Appreciation +8.4/10.0
• 1% rule +7.2/10.0
• Schools +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located in Manilla — this unique property offers both a 3-bedroom home and an incredible 32' x 32' building full of possibilities! The home features a very large living room, eat-in kitchen, main-floor laundry, and a bath with shower. With a few updates, this property could become a wonderful place to call home. The impressive detached building (2017) includes a concrete floor, multiple overhead/access doors, and endless potential for storage, workshop space, hobbies, business use, or future finishing opportunities. So much potential in one property — call today to schedule your personal tour!

Key facts

• Large living room
• Detached building
• Eat-in kitchen

Tags

• 3 BEDROOM HOME
• LARGE LIVING ROOM
• EAT-IN KITCHEN
• MAIN-FLOOR LAUNDRY
• BATH WITH SHOWER
• DETACHED BUILDING

Property features AI

Finance

• Financial info: Annual taxes listed (amount available)

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single-family residential property
• Construction: Vinyl siding construction; Shingle roof
• Exterior features: Shingle roof; Vinyl siding; Lot approx. 0.33 acres (100 x 142)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($917 rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#680 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Ikm-Manning Community School District (rural): math 75% / reading 78% proficiency, ranked #58 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 7 active listings in the ZIP; 18 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($518 loan paydown + $5k appreciation (6.7% local appreciation)).
• Crawford County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $75k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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: 1.22% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $82,111
• List price: $74,900
• Delta: -8.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
272 6th Ave	0.04mi	2/1.0 (-1)	1,231 (+3%)	6mo	$32,500	$26	84
462 6th Ave	0.07mi	3/1.0	1,128 (-6%)	18mo	$81,000	$72	72
436 3rd Ave	0.20mi	3/1.0	1,317 (+10%)	9mo	$87,000	$66	66
533 2nd Ave	0.34mi	2/1.5 (-1)	1,198 (-0%)	13mo	$119,900	$100	66
632 2nd Ave	0.35mi	4/1.0 (+1)	1,294 (+8%)	14mo	$125,000	$97	54

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

Projected returns pro-forma

6.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 2.85×
• Total profit: $38,817
• Equity at exit: $50,590

10-year hold

• IRR: 25.0%
• Equity multiple: 5.89×
• Total profit: $102,593
• Equity at exit: $94,931

Cash invested: $20,972 (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 51454

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $917 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $218

Break-even live

Break-even rent $640

Max offer price $74,900

Occupancy floor 71%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   listed $74,900 Active 613-char remark
2. 2021-06-11
   soldstatus $30,000
3. 2007-08-10
   soldstatus $27,450

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,080 · $90/mo
• Expected delta: +$96/yr (+$8/mo · 9.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,999
• − Mortgage interest: −$4,196
• − Property taxes: −$984
• − Insurance: −$374
• − Repairs & maintenance: −$880
• − Management: −$880
• − Depreciation: −$2,179
• Taxable income: $1,506
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $2,256/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: Ikm-Manning Community School District
• NCES district ID: 1914880
• Math proficiency: 75% ▼ -1.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $49,285
• Composite: 64.68/100
• National rank: #524
• State rank: #58 of 289 in IA

Livability — Manilla

• Score: 63/100
• State rank: #680
• US rank: #15748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manilla, IA
• Population (ZIP): 1,399

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 17,186 people
• By 2030: 17,322 · +0.8%
• By 2040: 17,948 · +4.4%
• By 2050: 18,955 · +10.3%
• By 2075: 22,130 · +28.8%
• By 2100: 25,483 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 5% Portuguese 5% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+43.5) · D 27.8% · R 71.3%
• 2008→2024 swing: -48.6pp toward R · 2008: 5.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+36.8 2016: R+38.2 2012: R+8.2 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.73%
• Current HPI: 199.6247
• 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

+172.9% since first listed

4 events — show timeline

• 2026-05-29 Pending — IAR
• 2026-05-11 Listed $74,900 IAR
• 2021-06-11 Sold (Public Records) $30,000 Public Records
• 2007-08-10 Sold (Public Records) $27,450 Public Records

Property tax history

+23.2%/yr

Latest (2025): $984 · +19.7% YoY. Source: county tax records.