504 Pleasant St · Oakville, IA 52646

$118,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 76 Days on market

Built 1967 0.66 ac lot $134/sqft · 22% below area Est $152k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• Appreciation +6.9/10.0
• Schools +4.6/10.0
• DSCR +3.5/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two huge lots come with this 2 bed 1 bath ranch style house with a detached garage. Lots of room to build a bigger shed/garage or an house on the extra lots.

Key facts

• Extra lots
• Huge lots
• Detached garage

Tags

• HUGE LOTS
• DETACHED GARAGE
• EXTRA LOTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $-32 ($-381/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (19.9% below list).
• Recommended offer: $94k (19.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#825 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, employment D.
• Wapello Community School District (rural): math 52% / reading 56% proficiency, ranked #267 of 289 in IA (top 92%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 9 units permitted in Louisa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($816 loan paydown + $5k appreciation (3.8% local appreciation)).
• Louisa County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $96k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $94,499 (19.9% 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 76 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 1967 — 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 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?
7. 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.
8. 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.
9. 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: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 10.4

CMA / ARV

• ARV (median comp): $152,196
• List price: $118,000
• Delta: -22.47%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E River Rd	0.27mi	3/1.0	900 (+2%)	7mo	$150,000	$167	77

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

Projected returns pro-forma

3.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.53×
• Total profit: $17,504
• Equity at exit: $58,719

10-year hold

• IRR: 10.9%
• Equity multiple: 2.78×
• Total profit: $58,806
• Equity at exit: $95,165

Cash invested: $33,040 (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 52646

• Home prices YoY: 4.0%
• Active inventory: 2
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $945 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $-32

Break-even live

Break-even rent $985

Max offer price $112,389

Occupancy floor 98%

Sensitivity live

Price	-10% $35	-5% $2	+0% $-32	+5% $-65	+10% $-99
Rent	-10% $-106	-5% $-69	+0% $-32	+5% $6	+10% $43
Rate	-1.0pp $28	-0.5pp $-2	base $-32	+0.5pp $-62	+1.0pp $-93

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $118,000 Active 76 DOM
2. 2026-06-18
   days on market $118,000 Active 74 DOM
3. 2026-06-17
   price $118,000 Active 73 DOM
4. 2026-06-17
   days on market $120,900 Active 73 DOM
5. 2026-06-16
   days on market $120,900 Active 72 DOM
6. 2026-06-15
   days on market $120,900 Active 71 DOM
7. 2026-06-13
   days on market $120,900 Active 69 DOM
8. 2026-06-12
   days on market $120,900 Active 68 DOM
9. 2026-06-09
   days on market $120,900 Active 65 DOM
10. 2026-06-08
    days on market $120,900 Active 64 DOM
11. 2026-06-07
    days on market $120,900 Active 63 DOM
12. 2026-06-05
    statusdays on market $120,900 Active 61 DOM
13. 2026-04-24
    price $120,900 157-char remark

    Show marketing remark (157 chars)

    Two huge lots come with this 2 bed 1 bath ranch style house with a detached garage. Lots of room to build a bigger shed/garage or an house on the extra lots.

14. 2026-03-27
    listed $128,900 Active 157-char remark

    Show marketing remark (157 chars)

    Two huge lots come with this 2 bed 1 bath ranch style house with a detached garage. Lots of room to build a bigger shed/garage or an house on the extra lots.

15. 2013-11-06
    soldstatus $96,500
16. 2011-02-10
    soldstatus $45,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,588 · $132/mo
• Expected delta: +$264/yr (+$22/mo · 20.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,340
• − Mortgage interest: −$6,610
• − Property taxes: −$1,324
• − Insurance: −$590
• − Repairs & maintenance: −$907
• − Management: −$907
• − Depreciation: −$3,433
• Taxable loss: −$2,431
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $202/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: Wapello Community School District
• NCES district ID: 1929730
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $49,857
• Composite: 46.08/100
• National rank: #2515
• State rank: #267 of 289 in IA

Livability — Oakville

• Score: 60/100
• State rank: #825
• US rank: #19025

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakville, IA
• Population (ZIP): 266

Population outlook (Louisa County) Hauer SSP2

• Today (2025): 11,061 people
• By 2030: 10,869 · -1.7%
• By 2040: 10,400 · -6.0%
• By 2050: 9,878 · -10.7%
• By 2075: 9,425 · -14.8%
• By 2100: 9,584 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 9%
• Common ancestry: Portuguese 8% Serbian 7% Iranian 4%
• Foreign-born: 1%

Political lean MEDSL · Louisa

• 2024 margin: Solid R (+41.0) · D 28.8% · R 69.8% · Other 1.4%
• 2008→2024 swing: -45.2pp toward R · 2008: 4.2pp · 2024: -41.0pp
• All cycles: 2024: R+41.0 2020: R+33.3 2016: R+28.7 2012: D+0.7 2008: D+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.84%
• Current HPI: 100.444
• 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

+168.7% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $120,900 IAR
• 2026-03-27 Listed $128,900 IAR
• 2013-11-06 Sold (Public Records) $96,500 Public Records
• 2011-02-10 Sold (Public Records) $45,000 Public Records

Property tax history

+15.0%/yr

Latest (2025): $1,324 · +0.2% YoY. Source: county tax records.