516 N 7th St · Forest City, IA 50436

$110,000

2 bd · 1.0 ba · 959 sqft · SingleFamily public records · 258 Days on market

Built 1914 6,970 sqft lot $115/sqft · 15% above area Est $129k · 15% under

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Why this score? — see what drove the D+ 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).

• ARV discount +14.1/15.0
• Cash flow +10.6/30.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CRAFTSMAN BUNGALOW WITH UPDATES AND FLEX SPACE Welcoming 3-seasons front porch with beadboard walls and ceiling opens to warm, wood-trimmed living spaces. The living room connects to a formal dining room through Craftsman colonnades with leaded-glass built-ins, plus a beautiful built-in hutch for extra storage and display. Two main-floor bedrooms feature hardwood floors and tall windows. The vintage-style hall bath offers beadboard wainscoting and a claw-foot tub. The bright eat-in kitchen delivers extensive cabinetry, long counters, and all appliances included—refrigerator, range, and dishwasher. Upstairs is a large finished attic—ideal as a flex room, office, play space, or potential third bedroom (non-conforming; no closet). The basement provides laundry and additional storage. Outside, enjoy a level yard on an alley-adjacent lot with alley access to a single-stall garage that includes an attached shop/storage area. Recent improvements add peace of mind: brand-new water heater and roof and furnace in 2019. The home also includes double-pane windows.

Key facts

• Craftsman colonnades
• Built-in hutch
• 6,970 sq ft lot

Tags

• 3-SEASONS FRONT PORCH
• WOOD-TRIMMED LIVING SPACES
• CRAFTSMAN COLONNADES
• LEADED-GLASS BUILT-INS
• BUILT-IN HUTCH
• VINTAGE-STYLE HALL BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-54 ($-651/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (20.0% below list).
• Recommended offer: $88k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.1% in Forest City — 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 (#160 in IA, #2,902 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Forest City Community School District (town): math 67% / reading 78% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 45 active listings in the ZIP; 6 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Winnebago County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $76k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,012 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.11%
• DSCR: 0.91
• GRM: 10.4

CMA / ARV

• ARV (median comp): $129,073
• List price: $110,000
• Delta: -14.78%
• 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
245 W N St	0.03mi	2/1.5	960 (+0%)	7mo	$84,750	$88	91
315 N 9th St	0.17mi	2/1.5	1,072 (+12%)	5mo	$128,500	$120	67
215 N 10th St	0.26mi	3/1.0 (+1)	1,037 (+8%)	5mo	$61,000	$59	65
335 S 11th St St	0.52mi	2/1.0	904 (-6%)	6mo	$79,500	$88	61
746 W M St	0.29mi	2/1.0	1,065 (+11%)	8mo	$27,500	$26	61
536 W K St	0.29mi	3/1.5 (+1)	1,046 (+9%)	9mo	$95,000	$91	57
212 W L St	0.19mi	2/2.0	1,102 (+15%)	15mo	$158,000	$143	50
202 N 6th St	0.20mi	2/2.0	1,102 (+15%)	18mo	$160,000	$145	47
206 N 6th St	0.21mi	1/1.5 (-1)	1,102 (+15%)	20mo	$172,000	$156	42
946 W M St	0.41mi	3/1.0 (+1)	1,088 (+14%)	16mo	$123,000	$113	41
209 N 7th St	0.20mi	1/2.0 (-1)	1,102 (+15%)	22mo	$179,000	$162	39
315 S 8th St	0.47mi	3/1.0 (+1)	824 (-14%)	22mo	$127,900	$155	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: -19.8%
• Equity multiple: 0.31×
• Total profit: $-21,272
• Equity at exit: $16,401

10-year hold

• IRR: -12.6%
• Equity multiple: 0.26×
• Total profit: $-22,943
• Equity at exit: $9,511

Cash invested: $30,800 (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 50436

• Home prices YoY: -25.3%
• Active inventory: 45
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $-54

Break-even live

Break-even rent $949

Max offer price $100,421

Occupancy floor —

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $110,000 Active 258 DOM
2. 2026-06-17
   days on market $110,000 Active 257 DOM
3. 2026-06-16
   days on market $110,000 Active 256 DOM
4. 2026-06-15
   days on market $110,000 Active 255 DOM
5. 2026-06-13
   days on market $110,000 Active 253 DOM
6. 2026-06-12
   days on market $110,000 Active 252 DOM
7. 2026-06-09
   days on market $110,000 Active 249 DOM
8. 2026-06-08
   days on market $110,000 Active 248 DOM
9. 2026-06-07
   days on market $110,000 Active 247 DOM
10. 2026-06-07
    days on market $110,000 Active 246 DOM
11. 2026-06-04
    days on market $110,000 Active 243 DOM
12. 2026-06-02
    days on market $110,000 Active 242 DOM
13. 2026-06-01
    days on market $110,000 Active 241 DOM
14. 2026-05-31
    days on market $110,000 Active 240 DOM
15. 2026-05-31
    days on market $110,000 Active 239 DOM
16. 2026-02-24
    price $110,000 1080-char remark

    Show marketing remark (1080 chars)

    CRAFTSMAN BUNGALOW WITH UPDATES AND FLEX SPACE Welcoming 3-seasons front porch with beadboard walls and ceiling opens to warm, wood-trimmed living spaces. The living room connects to a formal dining room through Craftsman colonnades with leaded-glass built-ins, plus a beautiful built-in hutch for extra storage and display. Two main-floor bedrooms feature hardwood floors and tall windows. The vintage-style hall bath offers beadboard wainscoting and a claw-foot tub. The bright eat-in kitchen delivers extensive cabinetry, long counters, and all appliances included—refrigerator, range, and dishwasher. Upstairs is a large finished attic—ideal as a flex room, office, play space, or potential third bedroom (non-conforming; no closet). The basement provides laundry and additional storage. Outside, enjoy a level yard on an alley-adjacent lot with alley access to a single-stall garage that includes an attached shop/storage area. Recent improvements add peace of mind: brand-new water heater and roof and furnace in 2019. The home also includes double-pane windows.

17. 2025-10-02
    listed $114,900 Active 1080-char remark

    Show marketing remark (1080 chars)

    CRAFTSMAN BUNGALOW WITH UPDATES AND FLEX SPACE Welcoming 3-seasons front porch with beadboard walls and ceiling opens to warm, wood-trimmed living spaces. The living room connects to a formal dining room through Craftsman colonnades with leaded-glass built-ins, plus a beautiful built-in hutch for extra storage and display. Two main-floor bedrooms feature hardwood floors and tall windows. The vintage-style hall bath offers beadboard wainscoting and a claw-foot tub. The bright eat-in kitchen delivers extensive cabinetry, long counters, and all appliances included—refrigerator, range, and dishwasher. Upstairs is a large finished attic—ideal as a flex room, office, play space, or potential third bedroom (non-conforming; no closet). The basement provides laundry and additional storage. Outside, enjoy a level yard on an alley-adjacent lot with alley access to a single-stall garage that includes an attached shop/storage area. Recent improvements add peace of mind: brand-new water heater and roof and furnace in 2019. The home also includes double-pane windows.

18. 2020-08-24
    soldstatus $76,000

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $1,624 · $135/mo
• Expected delta: +$102/yr (+$9/mo · 6.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $10,561
• − Mortgage interest: −$6,162
• − Property taxes: −$1,522
• − Insurance: −$550
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$3,200
• Taxable loss: −$2,562
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $-36/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: Forest City Community School District
• NCES district ID: 1911790
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 78% ▲ 1.00%
• Median HH income: $46,674
• Composite: 61.08/100
• National rank: #789
• State rank: #111 of 289 in IA

Livability — Forest City

• Score: 77/100
• State rank: #160
• US rank: #2902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, IA
• Population (ZIP): 5,760

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 10,099 people
• By 2030: 9,831 · -2.7%
• By 2040: 9,326 · -7.7%
• By 2050: 9,073 · -10.2%
• By 2075: 9,448 · -6.4%
• By 2100: 10,279 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 6% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Iranian 1%
• Foreign-born: 5% · China, Canada, Vietnam
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Winnebago

• 2024 margin: Solid R (+30.7) · D 33.9% · R 64.6% · Other 1.5%
• 2008→2024 swing: -39.3pp toward R · 2008: 8.6pp · 2024: -30.7pp
• All cycles: 2024: R+30.7 2020: R+26.3 2016: R+26.5 2012: R+0.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.62%
• Current HPI: 187.8639
• 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

+44.7% since first listed

3 events — show timeline

• 2026-02-24 Price Changed $110,000 IAR
• 2025-10-02 Listed $114,900 IAR
• 2020-08-24 Sold (Public Records) $76,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,522 · +4.5% YoY. Source: county tax records.