303 S 2nd St Unit A · Oskaloosa, IA 52577

$159,900

2 bd · 1.5 ba · 1,361 sqft · Condo public records · 34 Days on market

Built 1980

---

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).

• Cash flow +12.7/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single Condo Unit (Lower level) For Sale! This well maintained building is conveniently located to Oskaloosa's beautiful downtown, our lovely Carnegie Library, numerous grocery stores, restaurants, shops & boutiques. Inside you will find 2 bedrooms and 2 baths, large living room with garden windows, dining room and peninsula bar to eat at. All appliances will stay and you could move right in! See it Today!

Key facts

• Updated open area
• Walk-in closet
• New lvp flooring

Tags

• WALK-IN CLOSET
• UPDATED OPEN AREA
• NEW LVP FLOORING
• NEW KITCHEN MARBLE BACKSPLASH
• QUARTZ COUNTER TOPS
• FRESHLY PAINTED CABINETS

Property features AI

Exterior

• Parking: Carport; 1-car garage
• Utilities: Public water service; Public sewer service
• Home design: Condominium; Residential property
• Construction: Brick construction
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-18 ($-218/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (16.0% below list).
• Recommended offer: $134k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Oskaloosa — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#57 in IA, #1,325 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Oskaloosa Community School District (rural): math 62% / reading 67% proficiency, ranked #208 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oskaloosa Elementary School (math 67% / reading 62%, grade B, #317 of 616 statewide, top 58%, 886 students, 53% FRL); Oskaloosa Middle School (math 65% / reading 71%, grade A-, #131 of 246 statewide, top 53%, 454 students, 49% FRL); Oskaloosa High School (math 55% / reading 67%, grade C+, #258 of 336 statewide, top 78%, 600 students, 36% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 73 active listings in the ZIP; 13 units permitted in Mahaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mahaska 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 34 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $134,279 (16.0% 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 34 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-27,065
• Equity at exit: $23,842

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-25,042
• Equity at exit: $13,825

Cash invested: $44,772 (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 52577

• Home prices YoY: -25.4%
• Active inventory: 73
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-18

Break-even live

Break-even rent $1,366

Max offer price $156,687

Occupancy floor 96%

Sensitivity live

Price	-10% $72	-5% $27	+0% $-18	+5% $-63	+10% $-109
Rent	-10% $-124	-5% $-71	+0% $-18	+5% $35	+10% $88
Rate	-1.0pp $62	-0.5pp $22	base $-18	+0.5pp $-60	+1.0pp $-102

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-22
   days on market $159,900 Active 34 DOM
2. 2026-06-21
   days on market $159,900 Active 33 DOM
3. 2026-06-21
   days on market $159,900 Active 32 DOM
4. 2026-06-18
   days on market $159,900 Active 30 DOM
5. 2026-06-17
   days on market $159,900 Active 29 DOM
6. 2026-06-16
   days on market $159,900 Active 28 DOM
7. 2026-06-15
   days on market $159,900 Active 27 DOM
8. 2026-06-13
   days on market $159,900 Active 25 DOM
9. 2026-06-12
   pricedays on market $159,900 Active 24 DOM
10. 2026-06-09
    days on market $169,900 Active 21 DOM
11. 2026-06-08
    days on market $169,900 Active 20 DOM
12. 2026-06-07
    days on market $169,900 Active 19 DOM
13. 2026-06-07
    days on market $169,900 Active 18 DOM
14. 2026-06-04
    days on market $169,900 Active 15 DOM
15. 2026-06-02
    days on market $169,900 Active 14 DOM
16. 2026-06-01
    price $169,900 Active 13 DOM
17. 2026-06-01
    days on market $174,900 Active 13 DOM
18. 2026-05-31
    days on market $174,900 Active 12 DOM
19. 2026-05-31
    days on market $174,900 Active 11 DOM
20. 2026-05-19
    listed $179,900 Active
21. 2023-04-19
    soldstatus $115,000 Closed 417-char remark

    Show marketing remark (417 chars)

    Single Condo Unit (Lower level) For Sale! This well maintained building is conveniently located to Oskaloosa's beautiful downtown, our lovely Carnegie Library, numerous grocery stores, restaurants, shops & boutiques. Inside you will find 2 bedrooms and 2 baths, large living room with garden windows, dining room and peninsula bar to eat at. All appliances will stay and you could move right in! See it Today!

22. 2023-04-06
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Single Condo Unit (Lower level) For Sale! This well maintained building is conveniently located to Oskaloosa's beautiful downtown, our lovely Carnegie Library, numerous grocery stores, restaurants, shops & boutiques. Inside you will find 2 bedrooms and 2 baths, large living room with garden windows, dining room and peninsula bar to eat at. All appliances will stay and you could move right in! See it Today!

23. 2022-11-21
    listed $109,900 Active 417-char remark

    Show marketing remark (417 chars)

    Single Condo Unit (Lower level) For Sale! This well maintained building is conveniently located to Oskaloosa's beautiful downtown, our lovely Carnegie Library, numerous grocery stores, restaurants, shops & boutiques. Inside you will find 2 bedrooms and 2 baths, large living room with garden windows, dining room and peninsula bar to eat at. All appliances will stay and you could move right in! See it Today!

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $2,298 · $192/mo
• Expected delta: +$212/yr (+$18/mo · 10.2%)

ⓘ 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 ≥103°F today · 16 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: $16,113
• − Mortgage interest: −$8,957
• − Property taxes: −$2,086
• − Insurance: −$800
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$4,652
• Taxable loss: −$2,959
• Est. tax savings @ 24.0%: +$710
• After-tax cash flow: $492/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: Oskaloosa Community School District
• NCES district ID: 1921870
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 67% ▬ 0.00%
• Median HH income: $44,362
• Composite: 54.26/100
• National rank: #1373
• State rank: #208 of 289 in IA

Livability — Oskaloosa

• Score: 81/100
• State rank: #57
• US rank: #1325

Category grades

Amenities D- 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: Oskaloosa, IA
• Population (ZIP): 14,336

Population outlook (Mahaska County) Hauer SSP2

• Today (2025): 22,032 people
• By 2030: 21,682 · -1.6%
• By 2040: 20,750 · -5.8%
• By 2050: 19,800 · -10.1%
• By 2075: 17,839 · -19.0%
• By 2100: 15,829 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Iranian 8% Italian 3% Portuguese 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Mahaska

• 2024 margin: Solid R (+51.6) · D 23.6% · R 75.2% · Other 1.1%
• 2008→2024 swing: -35.1pp toward R · 2008: -16.5pp · 2024: -51.6pp
• All cycles: 2024: R+51.6 2020: R+47.4 2016: R+45.7 2012: R+20.5 2008: R+16.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.78%
• Current HPI: 239.9131
• 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

+45.5% since first listed

7 events — show timeline

• 2026-06-11 Price Changed $159,900 IAR
• 2026-06-01 Price Changed $169,900 IAR
• 2026-05-29 Price Changed $174,900 IAR
• 2026-05-19 Listed $179,900 IAR
• 2023-04-19 Sold (MLS) $115,000 IAR
• 2023-04-06 Pending — IAR
• 2022-11-21 Listed $109,900 IAR

Property tax history

+1.5%/yr

Latest (2025): $2,086 · +0.7% YoY. Source: county tax records.