621 Harrison St · Remsen, IA 51050

$150,000

4 bd · 1.0 ba · 1,651 sqft · SingleFamily public records · 83 Days on market

Built 1920 0.28 ac lot $91/sqft · 13% below area Est $179k · 16% 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).

• Cash flow +14.7/30.0
• ARV discount +14.7/15.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this 4-bedroom, 2-bath home located on a large lot in Remsen. This property offers plenty of space both inside and out, making it a great opportunity for homeowners or investors alike. The home is move-in ready, with solid bones and functional layout, while still offering room for cosmetic updates to truly make it your own. Having previously been used as a rental, it presents excellent potential as a primary residence, investment property, or value-add project. Additional features include a single-car garage accessed from the alley, ample yard space, and a convenient location close to town amenities. 4 Bedrooms 2 Bathrooms Large lot Alley-access garage Former rental Selling AS-IS If you’re looking for space, potential, and value in a small-town setting, this one is worth a look! Owner has never lived in this home only used as rental.

Key facts

• Large lot
• Convenient location
• Ample yard space

Tags

• LARGE LOT
• ALLEY-ACCESS GARAGE
• AMPLE YARD SPACE
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $39 ($473/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (15.0% below list).
• Recommended offer: $127k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#78 in IA, #1,646 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Remsen-Union Community School District (rural): math 72% / reading 79% proficiency, ranked #59 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 7 active listings in the ZIP; 147 units permitted in Plymouth County in 2024 (112 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,450 (15.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (median comp): $178,553
• List price: $150,000
• Delta: -15.99%
• 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
621 Harrison St	0.00mi	4/2.0	1,701 (+3%)	1mo	$115,000	$68	90
622 S Washington St	0.17mi	3/2.0 (-1)	1,705 (+3%)	2mo	$259,000	$152	76
405 W 6th St	0.38mi	5/2.0 (+1)	1,667 (+1%)	7mo	$232,000	$139	66
640 Fulton St	0.12mi	3/2.0 (-1)	1,680 (+2%)	23mo	$195,000	$116	63
402 Madison St	0.21mi	4/1.8	1,759 (+6%)	21mo	$165,000	$94	58
401 S Washington St	0.25mi	3/1.8 (-1)	1,735 (+5%)	19mo	$150,000	$86	56
619 S Marion St	0.32mi	3/2.0 (-1)	1,521 (-8%)	10mo	$195,000	$128	55
138 Madison St	0.40mi	4/2.0	1,429 (-13%)	5mo	$105,000	$73	51
211 Jackson St	0.44mi	4/1.0	1,459 (-12%)	12mo	$170,000	$117	50
117 Franklin St	0.44mi	3/3.0 (-1)	1,678 (+2%)	23mo	$250,000	$149	45
513 E 2nd St	0.47mi	3/1.0 (-1)	1,476 (-11%)	24mo	$177,000	$120	36
203 E Nothem Ave	0.58mi	3/1.5 (-1)	1,512 (-8%)	24mo	$155,000	$103	32

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: 25.1%
• Equity multiple: 3.00×
• Total profit: $84,180
• Equity at exit: $135,132

10-year hold

• IRR: 22.1%
• Equity multiple: 6.85×
• Total profit: $245,878
• Equity at exit: $291,417

Cash invested: $42,000 (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 51050

• Home prices YoY: 8.1%
• Active inventory: 7
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,274 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$118 /mo · $1,420/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $39

Break-even live

Break-even rent $1,225

Max offer price $150,000

Occupancy floor 92%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending 879-char remark

   Show marketing remark (879 chars)

   Welcome to this 4-bedroom, 2-bath home located on a large lot in Remsen. This property offers plenty of space both inside and out, making it a great opportunity for homeowners or investors alike. The home is move-in ready, with solid bones and functional layout, while still offering room for cosmetic updates to truly make it your own. Having previously been used as a rental, it presents excellent potential as a primary residence, investment property, or value-add project. Additional features include a single-car garage accessed from the alley, ample yard space, and a convenient location close to town amenities. 4 Bedrooms 2 Bathrooms Large lot Alley-access garage Former rental Selling AS-IS If you’re looking for space, potential, and value in a small-town setting, this one is worth a look! Owner has never lived in this home only used as rental.

2. 2026-02-17
   listed $150,000 Active 879-char remark

   Show marketing remark (879 chars)

   Welcome to this 4-bedroom, 2-bath home located on a large lot in Remsen. This property offers plenty of space both inside and out, making it a great opportunity for homeowners or investors alike. The home is move-in ready, with solid bones and functional layout, while still offering room for cosmetic updates to truly make it your own. Having previously been used as a rental, it presents excellent potential as a primary residence, investment property, or value-add project. Additional features include a single-car garage accessed from the alley, ample yard space, and a convenient location close to town amenities. 4 Bedrooms 2 Bathrooms Large lot Alley-access garage Former rental Selling AS-IS If you’re looking for space, potential, and value in a small-town setting, this one is worth a look! Owner has never lived in this home only used as rental.

ⓘ 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: $1,420 · $118/mo
• Projected year-2 tax: $1,888 · $157/mo
• Expected delta: +$468/yr (+$39/mo · 32.9%)

ⓘ 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 ≥100°F today · 15 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: $15,294
• − Mortgage interest: −$8,402
• − Property taxes: −$1,420
• − Insurance: −$750
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$4,364
• Taxable loss: −$2,089
• Est. tax savings @ 24.0%: +$501
• After-tax cash flow: $974/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: Remsen-Union Community School District
• NCES district ID: 1924120
• Math proficiency: 72% ▲ 8.00%
• Reading proficiency: 79% ▲ 14.00%
• Median HH income: $57,017
• Composite: 64.57/100
• National rank: #534
• State rank: #59 of 289 in IA

Livability — Remsen

• Score: 80/100
• State rank: #78
• US rank: #1646

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Remsen, IA
• Population (ZIP): 2,909

Population outlook (Plymouth County) Hauer SSP2

• Today (2025): 25,214 people
• By 2030: 25,257 · +0.2%
• By 2040: 25,304 · +0.4%
• By 2050: 25,421 · +0.8%
• By 2075: 26,820 · +6.4%
• By 2100: 27,604 · +9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 3%

Political lean MEDSL · Plymouth

• 2024 margin: Solid R (+54.2) · D 22.3% · R 76.5% · Other 1.2%
• 2008→2024 swing: -29.2pp toward R · 2008: -25.1pp · 2024: -54.2pp
• All cycles: 2024: R+54.2 2020: R+49.3 2016: R+51.9 2012: R+34.3 2008: R+25.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.38%
• Current HPI: 259.7886
• 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

2 events — show timeline

• 2026-05-11 Pending — NWIA
• 2026-02-17 Listed $150,000 NWIA

Property tax history

+20.2%/yr

Latest (2025): $1,420 · +50.4% YoY. Source: county tax records.