826 2nd St · Meservey, IA 50457

$59,900

3 bd · 1.0 ba · 1,464 sqft · SingleFamily public records · 85 Days on market

Built 1913 0.48 ac lot $41/sqft · 24% below area Est $79k · 24% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.2/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come take a look at this property in Meservey that sits a large 140’ x 150’ lot on the North edge of town. The 3 bedroom home offers plenty of space and the 30 x 36 detached garage is a huge perk to the property. The large, beautiful backyard makes this property a must see!

Key facts

• Large lot
• Beautiful backyard
• Detached garage

Tags

• LARGE LOT
• DETACHED GARAGE
• BEAUTIFUL BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#558 in IA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• West Fork Community School District (rural): math 54% / reading 69% proficiency, ranked #230 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 54 units permitted in Cerro Gordo County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (2.4% local appreciation)).
• Cerro Gordo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.84% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.06%
• DSCR: 2.52
• GRM: 4.5

CMA / ARV

• ARV (median comp): $78,814
• List price: $59,900
• Delta: -24.00%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735 3rd St St	0.09mi	3/1.5	1,308 (-11%)	6mo	$73,000	$56	71
642 4th St	0.21mi	2/2.5 (-1)	1,344 (-8%)	11mo	$147,000	$109	56

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

Projected returns pro-forma

2.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.12×
• Total profit: $35,522
• Equity at exit: $24,790

10-year hold

• IRR: 39.3%
• Equity multiple: 6.16×
• Total profit: $86,557
• Equity at exit: $36,615

Cash invested: $16,772 (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 50457

• Home prices YoY: 1.9%
• Active inventory: 1
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $476

Break-even live

Break-even rent $501

Max offer price $59,900

Occupancy floor 52%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-12
   status Pending 286-char remark

   Show marketing remark (286 chars)

   Come take a look at this property in Meservey that sits a large 140’ x 150’ lot on the North edge of town. The 3 bedroom home offers plenty of space and the 30 x 36 detached garage is a huge perk to the property. The large, beautiful backyard makes this property a must see!

2. 2026-04-03
   price $59,900 286-char remark

   Show marketing remark (286 chars)

   Come take a look at this property in Meservey that sits a large 140’ x 150’ lot on the North edge of town. The 3 bedroom home offers plenty of space and the 30 x 36 detached garage is a huge perk to the property. The large, beautiful backyard makes this property a must see!

3. 2026-02-16
   listed $66,500 Active 286-char remark

   Show marketing remark (286 chars)

   Come take a look at this property in Meservey that sits a large 140’ x 150’ lot on the North edge of town. The 3 bedroom home offers plenty of space and the 30 x 36 detached garage is a huge perk to the property. The large, beautiful backyard makes this property a must see!

4. 2020-08-26
   soldstatus $30,000

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $808 · $67/mo
• Expected delta: +$132/yr (+$11/mo · 19.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $13,236
• − Mortgage interest: −$3,355
• − Property taxes: −$676
• − Insurance: −$300
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$1,743
• Taxable income: $5,045
• Est. tax owed @ 24.0%: −$1,211
• After-tax cash flow: $4,501/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: West Fork Community School District
• NCES district ID: 1925920
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $50,147
• Composite: 52.28/100
• National rank: #1596
• State rank: #230 of 289 in IA

Livability — Meservey

• Score: 65/100
• State rank: #558
• US rank: #12607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meservey, IA
• Population (ZIP): 504

Population outlook (Cerro Gordo County) Hauer SSP2

• Today (2025): 41,080 people
• By 2030: 39,746 · -3.2%
• By 2040: 36,608 · -10.9%
• By 2050: 33,682 · -18.0%
• By 2075: 29,702 · -27.7%
• By 2100: 27,399 · -33.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 15% Hispanic / Latino 12%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Romanian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 87% English-only · Spanish 13%

Political lean MEDSL · Cerro Gordo

• 2024 margin: R (+11.7) · D 43.4% · R 55.0% · Other 1.6%
• 2008→2024 swing: -32.5pp toward R · 2008: 20.8pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+6.3 2016: R+7.7 2012: D+13.2 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.36%
• Current HPI: 127.9236
• 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

+99.7% since first listed

4 events — show timeline

• 2026-05-12 Pending — IAR
• 2026-04-03 Price Changed $59,900 IAR
• 2026-02-16 Listed $66,500 IAR
• 2020-08-26 Sold (Public Records) $30,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $676 · +6.5% YoY. Source: county tax records.