1112 N 6th St #72 · Indianola, IA 50125

$138,000

2 bd · 2.0 ba · 986 sqft · Condo public records · 118 Days on market

Built 2005 $140/sqft · at area comps Est $134k · at est. $200/mo HOA · 11% of rent

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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 +22.0/30.0
• 1% rule +7.8/10.0
• DSCR +7.0/10.0
• ARV discount +6.3/15.0
• Schools +6.3/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy easy, low-maintenance living in this inviting upper-level condominium featuring 2 bedrooms and 2 full baths. The open layout connects the kitchen and living room. Step out onto the private balcony to enjoy fresh air and natural light. The spacious primary bedroom includes its own full bath, while the second bedroom is conveniently located near an additional full bath, ideal for guests or a home office. All kitchen appliances, plus the washer and dryer, are included for added convenience. You'll also appreciate the assigned one-car detached garage. The association takes care of exterior maintenance, lawn care, and snow removal, so you can spend more time enjoying nearby bike trails, shopping, and everyday amenities just minutes away.

Key facts

• Private balcony
• Open layout
• Bike trails nearby

Tags

• PRIVATE BALCONY
• OPEN LAYOUT
• KITCHEN APPLIANCES INCLUDED
• DETACHED GARAGE
• BIKE TRAILS NEARBY
• SHOPPING NEARBY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $138k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.3% in Indianola — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#10 in IA, #332 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Indianola Community School District (town): math 74% / reading 72% proficiency, ranked #83 of 289 in IA (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 241 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $954 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago 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.

Recommended offer $125,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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. 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: 1.28% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 6.5

CMA / ARV

• ARV (median comp): $134,311
• List price: $138,000
• Delta: 2.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-8,255
• Equity at exit: $20,576

10-year hold

• IRR: 4.0%
• Equity multiple: 1.30×
• Total profit: $11,429
• Equity at exit: $11,932

Cash invested: $38,640 (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 50125

• Home prices YoY: -34.5%
• Active inventory: 241
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$724
• Tax from tax record: −$194 /mo · $2,328/yr
• Insurance: −$58
• HOA: −$200
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $219

Break-even live

Break-even rent $1,488

Max offer price $138,000

Occupancy floor 83%

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 N 6th St Unit 8-2 Indianola, IA	2.0	1.0	952	$1,300	$1.37	14d	1	0.09mi
1100 N 6th St #8 Indianola, IA	2.0	1.0	952	$2,600	$2.73	19d	1	0.09mi
1210 N 9th St Indianola, IA	3.0	1.0	1008	$1,195	$1.19	2d	8	0.35mi
1603 N 9th St Indianola, IA	2.0	1.0	818	$1,300	$1.59	2d	1	0.50mi
205 W Boston Ave Apt 1 Indianola, IA	1.0	1.0	600	$990	$1.65	2d	1	0.78mi
311 S Howard St Unit 4 Indianola, IA	2.0	1.0	600	$795	$1.32	14d	1	0.99mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: landscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $138,000 Active 118 DOM
2. 2026-06-17
   days on market $138,000 Active 117 DOM
3. 2026-06-16
   days on market $138,000 Active 116 DOM
4. 2026-06-15
   days on market $138,000 Active 115 DOM
5. 2026-06-14
   days on market $138,000 Active 113 DOM
6. 2026-06-13
   days on market $138,000 Active 112 DOM
7. 2026-06-10
   days on market $138,000 Active 110 DOM
8. 2026-06-09
   days on market $138,000 Active 109 DOM
9. 2026-06-08
   days on market $138,000 Active 108 DOM
10. 2026-06-07
    days on market $138,000 Active 107 DOM
11. 2026-06-05
    days on market $138,000 Active 104 DOM
12. 2026-06-03
    days on market $138,000 Active 103 DOM
13. 2026-06-02
    days on market $138,000 Active 102 DOM
14. 2026-06-01
    days on market $138,000 Active 101 DOM
15. 2026-05-31
    days on market $138,000 Active 100 DOM
16. 2026-05-31
    days on market $138,000 Active 99 DOM
17. 2026-02-20
    listed $138,000 Active 748-char remark

    Show marketing remark (748 chars)

    Enjoy easy, low-maintenance living in this inviting upper-level condominium featuring 2 bedrooms and 2 full baths. The open layout connects the kitchen and living room. Step out onto the private balcony to enjoy fresh air and natural light. The spacious primary bedroom includes its own full bath, while the second bedroom is conveniently located near an additional full bath, ideal for guests or a home office. All kitchen appliances, plus the washer and dryer, are included for added convenience. You'll also appreciate the assigned one-car detached garage. The association takes care of exterior maintenance, lawn care, and snow removal, so you can spend more time enjoying nearby bike trails, shopping, and everyday amenities just minutes away.

18. 2025-09-16
    soldstatus $127,000
19. 2025-09-12
    soldstatus $127,000 Closed 597-char remark

    Show marketing remark (597 chars)

    This is an upper level condominium that has two bedrooms and two full baths. Close to the bike trail, Wal-Mart and HyVee. The kitchen appliances and washer-dryer all stay. The living room is situated next to the kitchen with an island that can be used for eating or serving. A balcony opens off the living room for added morning light. The master bedroom also has its own full bath, while the second bedroom is situated next to a second full bath. Exterior maintenance is covered by the association, as well as lawn care and snow removal. There is a one car detached garage assigned to this unit.

20. 2025-09-02
    status Pending 597-char remark

    Show marketing remark (597 chars)

    This is an upper level condominium that has two bedrooms and two full baths. Close to the bike trail, Wal-Mart and HyVee. The kitchen appliances and washer-dryer all stay. The living room is situated next to the kitchen with an island that can be used for eating or serving. A balcony opens off the living room for added morning light. The master bedroom also has its own full bath, while the second bedroom is situated next to a second full bath. Exterior maintenance is covered by the association, as well as lawn care and snow removal. There is a one car detached garage assigned to this unit.

21. 2025-08-07
    price $129,000 597-char remark

    Show marketing remark (597 chars)

    This is an upper level condominium that has two bedrooms and two full baths. Close to the bike trail, Wal-Mart and HyVee. The kitchen appliances and washer-dryer all stay. The living room is situated next to the kitchen with an island that can be used for eating or serving. A balcony opens off the living room for added morning light. The master bedroom also has its own full bath, while the second bedroom is situated next to a second full bath. Exterior maintenance is covered by the association, as well as lawn care and snow removal. There is a one car detached garage assigned to this unit.

22. 2025-04-01
    listed $133,000 Active 597-char remark

    Show marketing remark (597 chars)

    This is an upper level condominium that has two bedrooms and two full baths. Close to the bike trail, Wal-Mart and HyVee. The kitchen appliances and washer-dryer all stay. The living room is situated next to the kitchen with an island that can be used for eating or serving. A balcony opens off the living room for added morning light. The master bedroom also has its own full bath, while the second bedroom is situated next to a second full bath. Exterior maintenance is covered by the association, as well as lawn care and snow removal. There is a one car detached garage assigned to this unit.

23. 2014-11-17
    soldstatus $73,000
24. 2014-11-17
    soldstatus $73,000
25. 2014-04-01
    listed $79,900
26. 2004-06-16
    listed $94,500

ⓘ 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: $2,328 · $194/mo
• Projected year-2 tax: $2,328 · $194/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,177
• − Mortgage interest: −$7,730
• − Property taxes: −$2,328
• − Insurance: −$690
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − HOA: −$2,400
• − Depreciation: −$4,015
• Taxable income: $626
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $2,477/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: Indianola Community School District
• NCES district ID: 1914640
• Math proficiency: 74% ▼ -3.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $59,896
• Composite: 62.81/100
• National rank: #666
• State rank: #83 of 289 in IA

Livability — Indianola

• Score: 87/100
• State rank: #10
• US rank: #332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indianola, IA
• Population (ZIP): 20,009

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Iranian 4% Portuguese 3% Italian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Vietnamese 1%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.04%
• Current HPI: 202.9852
• 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

+46.0% since first listed

10 events — show timeline

• 2026-02-20 Listed $138,000 DMMLS
• 2025-09-16 Sold (Public Records) $127,000 Public Records
• 2025-09-12 Sold (MLS) $127,000 DMMLS
• 2025-09-02 Pending — DMMLS
• 2025-08-07 Price Changed $129,000 DMMLS
• 2025-04-01 Listed $133,000 DMMLS
• 2014-11-17 Sold (Public Records) $73,000 Public Records
• 2014-11-17 Sold (MLS) $73,000 DMMLS
• 2014-04-01 Listed $79,900 DMMLS
• 2004-06-16 Listed $94,500 DMMLS

Property tax history

+2.8%/yr

Latest (2025): $2,328 · +1.3% YoY. Source: county tax records.