113 Hearn St · Eldon, IA 52554

$6,900

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 152 Days on market

Built 1888 4,792 sqft lot $9/sqft · 92% below area ↓ 37% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This cozy 2 bedroom home is partially demoed out and needs considerable work , but has plenty of potential and sits on a nice level corner lot. At this price, call today!

Key facts

• 4,792 sq ft lot
• Built 1888
• Listed 152 days

🏷️ Possibly a rental listed for sale. The $6,900 price doesn't fit this home's estimated sale value (~$88,338) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $7k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($817 rent vs $7k).
• Recommended offer: $6k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#863 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, health & safety C-.
• Cardinal Community School District (rural): math 54% / reading 58% proficiency, ranked #262 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $125 of equity ($48 loan paydown + $77 appreciation (1.1% local appreciation)).
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($6k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $6,072 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 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 1888 — 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. 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.
6. 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.
7. 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: 11.84% ✓
• Cap rate: 110.25%
• Cash-on-cash: 371.29%
• DSCR: 17.52
• GRM: 0.7

CMA / ARV

• ARV (median comp): $88,338
• List price: $6,900
• Delta: -92.19%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Des Moines St	0.36mi	2/1.0	746 (-0%)	1mo	$8,200	$11	82

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

Projected returns pro-forma

1.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 20.80×
• Total profit: $38,253
• Equity at exit: $2,397

10-year hold

• IRR: —
• Equity multiple: 44.34×
• Total profit: $83,729
• Equity at exit: $3,218

Cash invested: $1,932 (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 52554

• Home prices YoY: 0.8%
• Active inventory: 1
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $817 medium
• Mortgage (P&I): −$36
• Tax from tax record: −$9 /mo · $104/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $598

Break-even live

Break-even rent $60

Max offer price $6,900

Occupancy floor 22%

Sensitivity live

Price	-10% $602	-5% $600	+0% $598	+5% $596	+10% $594
Rent	-10% $533	-5% $566	+0% $598	+5% $630	+10% $662
Rate	-1.0pp $601	-0.5pp $600	base $598	+0.5pp $596	+1.0pp $594

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: $1,725
• Closing costs: $207
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $6,900 Active 152 DOM
2. 2026-06-18
   days on market $6,900 Active 150 DOM
3. 2026-06-17
   days on market $6,900 Active 149 DOM
4. 2026-06-16
   days on market $6,900 Active 148 DOM
5. 2026-06-15
   days on market $6,900 Active 147 DOM
6. 2026-06-13
   days on market $6,900 Active 145 DOM
7. 2026-06-12
   days on market $6,900 Active 144 DOM
8. 2026-06-09
   days on market $6,900 Active 141 DOM
9. 2026-06-08
   days on market $6,900 Active 140 DOM
10. 2026-06-07
    days on market $6,900 Active 139 DOM
11. 2026-06-05
    days on market $6,900 Active 137 DOM
12. 2026-06-04
    days on market $6,900 Active 135 DOM
13. 2026-06-02
    days on market $6,900 Active 134 DOM
14. 2026-06-01
    days on market $6,900 Active 133 DOM
15. 2026-05-31
    days on market $6,900 Active 132 DOM
16. 2026-05-31
    days on market $6,900 Active 131 DOM
17. 2026-01-19
    listed $6,900 Active 170-char remark

    Show marketing remark (170 chars)

    This cozy 2 bedroom home is partially demoed out and needs considerable work , but has plenty of potential and sits on a nice level corner lot. At this price, call today!

18. 2024-10-01
    soldstatus $11,000

ⓘ 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: $104 · $9/mo
• Projected year-2 tax: $106 · $9/mo
• Expected delta: +$2/yr ($0/mo · 2.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $9,805
• − Mortgage interest: −$387
• − Property taxes: −$104
• − Insurance: −$34
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$201
• Taxable income: $7,511
• Est. tax owed @ 24.0%: −$1,803
• After-tax cash flow: $5,371/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: Cardinal Community School District
• NCES district ID: 1906240
• Math proficiency: 54% ▼ -2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $45,438
• Composite: 47.32/100
• National rank: #2298
• State rank: #262 of 289 in IA

Livability — Eldon

• Score: 59/100
• State rank: #863
• US rank: #20055

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eldon, IA
• Population (ZIP): 1,221

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 4% Iranian 2% Serbian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1% Spanish 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: ▲ 1.12%
• Current HPI: 132.373
• 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

-37.3% since first listed

2 events — show timeline

• 2026-01-19 Listed $6,900 IAR
• 2024-10-01 Sold (Public Records) $11,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $104 · +6.1% YoY. Source: county tax records.