826 N 12th St · Keokuk, IA 52632

$54,900

3 bd · 1.0 ba · 1,685 sqft · SingleFamily public records · 6 Days on market

Built 1848 6,970 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This ideally located 3 bedroom home with unique charm is waiting for you! Property features include a spacious kitchen, formal dining room, main floor laundry, walk-out basement, detached garage, nice curb appeal and patio. Call for your private showing today. Property being sold as-is.

Key facts

• Formal dining room
• Spacious kitchen
• Main floor laundry

Tags

• SPACIOUS KITCHEN
• FORMAL DINING ROOM
• MAIN FLOOR LAUNDRY
• WALK-OUT BASEMENT
• DETACHED GARAGE
• PATIO

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Stucco construction
• Exterior features: Lot approximately 0.16 acres (50 x 140)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 14.6% vs local median 8.2% in Keokuk — 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 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee 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.
• Lee 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 $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $36k; list at $55k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1848 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,900

Questions for the listing agent

1. Built in 1848 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.92% ✓
• Cap rate: 14.61%
• Cash-on-cash: 29.70%
• DSCR: 2.32
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $133,115
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1014 Leighton St	0.15mi	3/1.5	1,490 (-12%)	5mo	$99,500	$67	67
906 Morgan St	0.42mi	4/2.0 (+1)	1,664 (-1%)	5mo	$32,000	$19	66
1322 Blondeau St	0.58mi	3/2.0	1,648 (-2%)	1mo	$169,000	$103	65
1818 Grand Ave	0.45mi	3/2.0	1,775 (+5%)	2mo	$192,000	$108	64
1220 Leighton	0.08mi	4/2.0 (+1)	1,512 (-10%)	10mo	$85,000	$56	62
712 N 8th St	0.31mi	3/2.0	1,530 (-9%)	5mo	$168,500	$110	62
1002 Orleans Ave	0.21mi	3/2.5	1,856 (+10%)	6mo	$133,000	$72	62
1616 High St	0.52mi	3/1.5	1,568 (-7%)	6mo	$125,000	$80	57
1901 Orleans Ave	0.48mi	4/2.0 (+1)	1,728 (+3%)	10mo	$136,500	$79	56
622 Morgan St	0.53mi	2/1.0 (-1)	1,820 (+8%)	7mo	$25,000	$14	51
2210 Grand Ave	0.67mi	3/2.5	1,827 (+8%)	1mo	$234,900	$129	48
508 Fulton St	0.57mi	3/1.5	1,920 (+14%)	8mo	$89,000	$46	41

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: 24.3%
• Equity multiple: 2.00×
• Total profit: $15,399
• Equity at exit: $8,186

10-year hold

• IRR: 32.2%
• Equity multiple: 3.92×
• Total profit: $44,865
• 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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,057 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$144 /mo · $1,722/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $380

Break-even live

Break-even rent $575

Max offer price $54,900

Occupancy floor 59%

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 12 events

1. 2026-06-03
   status $54,900 Pending 6 DOM
2. 2026-06-02
   days on market $54,900 Active 6 DOM
3. 2026-06-01
   days on market $54,900 Active 5 DOM
4. 2026-05-31
   days on market $54,900 Active 4 DOM
5. 2026-05-31
   days on market $54,900 Active 3 DOM
6. 2026-05-27
   listed $54,900 Active
7. 2026-02-08
   historical Active Under Contract
8. 2025-12-07
   price $64,900
9. 2025-11-23
   status Active
10. 2025-11-17
    historical Active Under Contract
11. 2025-11-10
    listed $67,900 Active
12. 2025-10-24
    soldstatus $36,000

ⓘ 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: $1,722 · $144/mo
• Projected year-2 tax: $1,722 · $144/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,680
• − Mortgage interest: −$3,075
• − Property taxes: −$1,722
• − Insurance: −$274
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$1,597
• Taxable income: $3,982
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $3,610/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.80%
• Current HPI: 122.2866
• 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

+52.5% since first listed

7 events — show timeline

• 2026-05-27 Listed $54,900 IAR
• 2026-02-08 Contingent — IAR
• 2025-12-07 Price Changed $64,900 IAR
• 2025-11-23 Relisted — IAR
• 2025-11-17 Contingent — IAR
• 2025-11-10 Listed $67,900 IAR
• 2025-10-24 Sold (Public Records) $36,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,722 · +5.8% YoY. Source: county tax records.