110 Cottage Ln · Montezuma, IA 50171

$469,000

4 bd · 3.0 ba · 2,240 sqft · SingleFamily public records · 103 Days on market

Built 1979 0.58 ac lot $209/sqft · 28% below area Est $650k · 28% 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 +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

110 Cottage Lane Lake Ponderosa offered for sale. This 4 bed, 2 bath ranch with a walkout finished lower level offers updated interiors, large yard, right off the paved road, steps to the lake and your boat lift, large detached garage and more. This is a must see home! Call to view.

Key facts

• Boat lift
• Steps to the lake
• Large yard

Tags

• WALKOUT FINISHED LOWER LEVEL
• LARGE YARD
• STEPS TO THE LAKE
• BOAT LIFT
• LARGE DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $469k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (70.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (72.2% below list).
• Recommended offer: $130k (72.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#228 in IA, #4,319 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Montezuma Community School District (rural): math 73% / reading 79% proficiency, ranked #55 of 289 in IA (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Montezuma Elementary School (math 92% / reading 77%, grade A+, #31 of 616 statewide, top 6%, 229 students, 34% FRL); Montezuma Junior High School (math 62% / reading 72%, grade A-, #140 of 246 statewide, top 60%, 112 students, 39% FRL); Montezuma High School (math 67% / reading 87%, grade A-, #60 of 336 statewide, top 21%, 148 students, 28% FRL).
• Market conditions: 67 active listings in the ZIP; 27 units permitted in Poweshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $50k of equity ($3k loan paydown + $47k appreciation (10.0% local appreciation)).
• Poweshiek County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($427k) is reasonable based on typical stale-listing flexibility.
• 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 $112k; list at $469k implies a 319% gain — meaningful room to come down on a strong offer.

Recommended offer $130,332 (72.2% 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 103 days. Have you received any prior offers? Is the seller open to a 72% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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 A-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: 0.28% ✗
• Cap rate: 1.52%
• Cash-on-cash: -17.06%
• DSCR: 0.24
• GRM: 30.0

CMA / ARV

• ARV (median comp): $650,000
• List price: $469,000
• Delta: -27.85%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Cottage Ln	0.09mi	3/2.0 (-1)	2,163 (-3%)	1mo	$1,000,000	$462	80
102 Sunrise Ln	0.37mi	3/1.5 (-1)	2,128 (-5%)	8mo	$350,000	$164	56
251 Whippoorwill Rd	0.68mi	4/2.0	2,184 (-2%)	5mo	$650,000	$298	56
146 Scenic Dr	0.60mi	4/2.0	2,112 (-6%)	4mo	$630,000	$298	55
239 Whippoorwill Rd Rd	0.65mi	4/3.5	2,524 (+13%)	12mo	$1,100,000	$436	37

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 2.04×
• Total profit: $136,352
• Equity at exit: $422,512

10-year hold

• IRR: 12.9%
• Equity multiple: 4.77×
• Total profit: $494,642
• Equity at exit: $911,164

Cash invested: $131,320 (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 50171

• Home prices YoY: 9.3%
• Active inventory: 67
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$2,459
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-1,867

Break-even live

Break-even rent $3,666

Max offer price $139,255

Occupancy floor —

Sensitivity live

Price	-10% $-1,601	-5% $-1,734	+0% $-1,867	+5% $-1,999	+10% $-2,132
Rent	-10% $-1,970	-5% $-1,918	+0% $-1,867	+5% $-1,815	+10% $-1,764
Rate	-1.0pp $-1,630	-0.5pp $-1,747	base $-1,867	+0.5pp $-1,988	+1.0pp $-2,112

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $469,000 Active 103 DOM
2. 2026-06-21
   days on market $469,000 Active 102 DOM
3. 2026-06-21
   days on market $469,000 Active 101 DOM
4. 2026-06-18
   days on market $469,000 Active 99 DOM
5. 2026-06-17
   days on market $469,000 Active 98 DOM
6. 2026-06-16
   days on market $469,000 Active 97 DOM
7. 2026-06-15
   days on market $469,000 Active 96 DOM
8. 2026-06-13
   days on market $469,000 Active 94 DOM
9. 2026-06-12
   days on market $469,000 Active 93 DOM
10. 2026-06-09
    days on market $469,000 Active 90 DOM
11. 2026-06-08
    days on market $469,000 Active 89 DOM
12. 2026-06-07
    days on market $469,000 Active 88 DOM
13. 2026-06-05
    days on market $469,000 Active 86 DOM
14. 2026-06-04
    days on market $469,000 Active 84 DOM
15. 2026-06-02
    days on market $469,000 Active 83 DOM
16. 2026-06-01
    days on market $469,000 Active 82 DOM
17. 2026-05-31
    days on market $469,000 Active 81 DOM
18. 2026-05-31
    days on market $469,000 Active 80 DOM
19. 2026-05-11
    price $469,000 284-char remark

    Show marketing remark (284 chars)

    110 Cottage Lane Lake Ponderosa offered for sale. This 4 bed, 2 bath ranch with a walkout finished lower level offers updated interiors, large yard, right off the paved road, steps to the lake and your boat lift, large detached garage and more. This is a must see home! Call to view.

20. 2026-03-11
    status Active

    Show marketing remark (284 chars)

    110 Cottage Lane Lake Ponderosa offered for sale. This 4 bed, 2 bath ranch with a walkout finished lower level offers updated interiors, large yard, right off the paved road, steps to the lake and your boat lift, large detached garage and more. This is a must see home! Call to view.

21. 2026-03-11
    listed $479,000 Active 284-char remark

    Show marketing remark (284 chars)

    110 Cottage Lane Lake Ponderosa offered for sale. This 4 bed, 2 bath ranch with a walkout finished lower level offers updated interiors, large yard, right off the paved road, steps to the lake and your boat lift, large detached garage and more. This is a must see home! Call to view.

22. 2026-01-27
    price $474,000
23. 2025-07-29
    listed $479,000 Active
24. 2007-05-14
    soldstatus $112,000

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $5,130 · $427/mo
• Expected delta: +$2,234/yr (+$186/mo · 77.1%)

ⓘ 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 ≥103°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: $15,640
• − Mortgage interest: −$26,271
• − Property taxes: −$2,896
• − Insurance: −$2,345
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$13,644
• Taxable loss: −$32,018
• Est. tax savings @ 24.0%: +$7,684
• After-tax cash flow: $-14,715/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: Montezuma Community School District
• NCES district ID: 1919590
• Math proficiency: 73% ▼ -6.00%
• Reading proficiency: 79% ▲ 3.00%
• Median HH income: $57,449
• Composite: 65.04/100
• National rank: #503
• State rank: #55 of 289 in IA

Livability — Montezuma

• Score: 75/100
• State rank: #228
• US rank: #4319

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,445
• Population (ZIP): 2,445

Population outlook (Poweshiek County) Hauer SSP2

• Today (2025): 18,601 people
• By 2030: 18,342 · -1.4%
• By 2040: 17,944 · -3.5%
• By 2050: 18,029 · -3.1%
• By 2075: 19,945 · +7.2%
• By 2100: 22,637 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 5% Portuguese 5% Lithuanian 3%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Poweshiek

• 2024 margin: R (+17.0) · D 40.8% · R 57.8% · Other 1.5%
• 2008→2024 swing: -28.7pp toward R · 2008: 11.8pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+13.3 2016: R+6.8 2012: D+9.1 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.91%
• Current HPI: 364.6554
• 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

+318.8% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $469,000 IAR
• 2026-03-11 Relisted — IAR
• 2026-03-11 Listed $479,000 IAR
• 2026-01-27 Price Changed $474,000 IAR
• 2025-07-29 Listed $479,000 IAR
• 2007-05-14 Sold (Public Records) $112,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,896 · -3.7% YoY. Source: county tax records.