5365 Longhorn Trl · Melrose, IA 52569

$159,000

3 bd · 2.0 ba · 2,040 sqft · SingleFamily · 7 Days on market

Built 2016 8,000 sqft lot $75/mo HOA · 6% of rent ↓ 44% since listing

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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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +3.6/10.0
• Livability +2.9/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

Key facts

• 4 season room
• Spacious kitchen
• Private community

Tags

• PRIVATE COMMUNITY
• SOLID ALDER WOODEN DOORS
• SPACIOUS KITCHEN
• MAPLE CABINETS
• STAINLESS STEEL APPLIANCES
• 4 SEASON ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (14.4% below list).
• Recommended offer: $136k (14.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#919 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, schools F, amenities F.
• Albia Community School District (town): math 68% / reading 77% proficiency, ranked #117 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 26 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $201k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $136,056 (14.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.86% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.4%
• Equity multiple: 2.81×
• Total profit: $80,359
• Equity at exit: $143,240

10-year hold

• IRR: 20.1%
• Equity multiple: 6.43×
• Total profit: $241,733
• Equity at exit: $308,902

Cash invested: $44,520 (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 52569

• Home prices YoY: 5.3%
• Active inventory: 26
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$75
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-99

Break-even live

Break-even rent $1,486

Max offer price $144,679

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-44	+0% $-99	+5% $-154	+10% $-209
Rent	-10% $-206	-5% $-153	+0% $-99	+5% $-45	+10% $9
Rate	-1.0pp $-19	-0.5pp $-59	base $-99	+0.5pp $-140	+1.0pp $-182

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $75 · $900/yr
• Likely covers: watersewerelectricpool

Listing history 16 events

1. 2026-06-16
   status $159,000 Pending 7 DOM
2. 2026-06-15
   days on market $159,000 Active 7 DOM
3. 2026-06-13
   days on market $159,000 Active 5 DOM
4. 2026-06-12
   days on market $159,000 Active 4 DOM
5. 2026-06-09
   remarks 651-char remark
6. 2026-06-09
   pricedays on marketlisting id $159,000 Active 1 DOM
7. 2026-05-31
   days on market $199,900 Active 718 DOM
8. 2026-05-31
   days on market $199,900 Active 717 DOM
9. 2026-03-03
   price $199,900 647-char remark

   Show marketing remark (647 chars)

   2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

10. 2025-06-30
    price $229,000 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

11. 2025-06-10
    status Active 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

12. 2025-05-29
    historical 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

13. 2025-03-26
    price $269,000 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

14. 2024-09-25
    price $299,000 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

15. 2024-07-25
    price $324,000 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

16. 2024-05-31
    listed $360,000 Active 647-char remark

    Show marketing remark (647 chars)

    2016 built 2040 sq ft ranch, modular home in a poured wall crawl space foundation. Details like solid alder wooden doors on every room and closet, very spacious kitchen with Maple cabinets, multiple lazy susan’s, stainless steel appliances, Home has 3 bedrooms, 2 bath, master suite with jet tub and walk in closet. Interior 4 season room and covered front porch, Attached 26x26 foot garage. All electric utilities. Home is in a private rural community with pool, fishing pond, community center and holds multiple events throughout the year for the residence. Private Home Owners Association annual fee $800. Private sewer, community water.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 14 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: $16,327
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − HOA: −$900
• − Depreciation: −$4,625
• Taxable loss: −$3,897
• Est. tax savings @ 24.0%: +$935
• After-tax cash flow: $-252/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: Albia Community School District
• NCES district ID: 1903270
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $44,429
• Composite: 60.88/100
• National rank: #814
• State rank: #117 of 289 in IA

Livability — Melrose

• Score: 57/100
• State rank: #919
• US rank: #22357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 541
• Population (ZIP): 541

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 7,921 people
• By 2030: 7,918 · +-0.0%
• By 2040: 7,873 · -0.6%
• By 2050: 7,776 · -1.8%
• By 2075: 7,556 · -4.6%
• By 2100: 7,055 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 10%
• Common ancestry: Slovak 3% Romanian 3% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+50.7) · D 24.2% · R 74.9%
• 2008→2024 swing: -45.5pp toward R · 2008: -5.2pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+46.4 2016: R+41.2 2012: R+7.7 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.12%
• Current HPI: 199.977
• 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

-44.5% since first listed

8 events — show timeline

• 2026-03-03 Price Changed $199,900 DMMLS
• 2025-06-30 Price Changed $229,000 DMMLS
• 2025-06-10 Relisted — DMMLS
• 2025-05-29 Listing Removed — DMMLS
• 2025-03-26 Price Changed $269,000 DMMLS
• 2024-09-25 Price Changed $299,000 DMMLS
• 2024-07-25 Price Changed $324,000 DMMLS
• 2024-05-31 Listed $360,000 DMMLS