209 E Main St · Pulaski, IA 52584

$45,000

3 bd · 2.0 ba · 1,947 sqft · SingleFamily public records · 102 Days on market

Built 1890 0.46 ac lot

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 3-bedroom, 1-bath home is perfect for someone ready to bring their vision to life. It features an additional unfinished bedroom and bathroom upstairs, offering the opportunity to expand your living space. Sitting on a generous lot, the property boasts a very large yard—great for outdoor activities or future landscaping projects. This property has a brand new heating unit in it. Don’t miss the chance to make this home your own!

Key facts

• Unfinished bathroom
• Large yard
• Unfinished bedroom

Tags

• UNFINISHED BEDROOM
• UNFINISHED BATHROOM
• LARGE YARD
• NEW HEATING UNIT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.46 acres (100 x 200)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (other); Window air conditioning unit(s)
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#670 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Davis County Community School District (rural): math 59% / reading 63% proficiency, ranked #236 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Davis County Elementary (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 480 students, 48% FRL); Davis County Middle School (math 63% / reading 64%, grade B+, #169 of 246 statewide, top 69%, 356 students, 46% FRL); Davis County Community High School (math 51% / reading 65%, grade C, #275 of 336 statewide, top 83%, 408 students, 38% FRL).
• Market conditions: 2 active listings in the ZIP; 2 units permitted in Davis County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (2.9% local appreciation)).
• Davis County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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 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: 2.35% ✓
• Cap rate: 19.11%
• Cash-on-cash: 45.79%
• DSCR: 3.04
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.0%
• Equity multiple: 3.84×
• Total profit: $35,847
• Equity at exit: $19,982

10-year hold

• IRR: 50.7%
• Equity multiple: 7.75×
• Total profit: $85,061
• Equity at exit: $30,601

Cash invested: $12,600 (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 52584

• Home prices YoY: 2.6%
• Active inventory: 2
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $481

Break-even live

Break-even rent $450

Max offer price $45,000

Occupancy floor 50%

Sensitivity live

Price	-10% $506	-5% $493	+0% $481	+5% $468	+10% $455
Rent	-10% $397	-5% $439	+0% $481	+5% $523	+10% $564
Rate	-1.0pp $503	-0.5pp $492	base $481	+0.5pp $469	+1.0pp $457

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-16
   status $45,000 Pending 102 DOM
2. 2026-06-15
   days on market $45,000 Active Under Contract 102 DOM
3. 2026-06-13
   days on market $45,000 Active Under Contract 100 DOM
4. 2026-06-12
   days on market $45,000 Active Under Contract 99 DOM
5. 2026-06-09
   days on market $45,000 Active Under Contract 96 DOM
6. 2026-06-08
   days on market $45,000 Active Under Contract 95 DOM
7. 2026-06-07
   days on market $45,000 Active Under Contract 94 DOM
8. 2026-06-07
   days on market $45,000 Active Under Contract 93 DOM
9. 2026-06-04
   days on market $45,000 Active Under Contract 90 DOM
10. 2026-06-02
    days on market $45,000 Active Under Contract 89 DOM
11. 2026-06-01
    days on market $45,000 Active Under Contract 88 DOM
12. 2026-05-31
    days on market $45,000 Active Under Contract 87 DOM
13. 2026-05-31
    days on market $45,000 Active Under Contract 86 DOM
14. 2026-04-20
    historical Active Under Contract
15. 2026-03-05
    price $45,000
16. 2026-03-05
    listed $50,000 Active
17. 2025-10-07
    price $50,000
18. 2025-08-12
    price $67,900
19. 2025-07-28
    listed $69,900 Active
20. 2016-12-27
    soldstatus $44,500

ⓘ 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: $1,206 · $100/mo
• Projected year-2 tax: $1,206 · $100/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 ≥106°F today · 15 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: $12,699
• − Mortgage interest: −$2,521
• − Property taxes: −$1,206
• − Insurance: −$225
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,309
• Taxable income: $5,406
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $4,472/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: Davis County Community School District
• NCES district ID: 1908610
• Math proficiency: 59% ▼ -8.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $48,810
• Composite: 51.78/100
• National rank: #1674
• State rank: #236 of 289 in IA

Livability — Pulaski

• Score: 63/100
• State rank: #670
• US rank: #15569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pulaski, IA
• Population (ZIP): 650

Population outlook (Davis County) Hauer SSP2

• Today (2025): 8,553 people
• By 2030: 8,396 · -1.8%
• By 2040: 8,139 · -4.8%
• By 2050: 7,799 · -8.8%
• By 2075: 6,614 · -22.7%
• By 2100: 5,053 · -40.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 3% Slovak 2% Portuguese 1%
• Languages at home: 94% English-only · German/W. Germanic 6%

Political lean MEDSL · Davis

• 2024 margin: Solid R (+54.4) · D 22.2% · R 76.6% · Other 1.1%
• 2008→2024 swing: -45.3pp toward R · 2008: -9.1pp · 2024: -54.4pp
• All cycles: 2024: R+54.4 2020: R+49.2 2016: R+45.2 2012: R+16.4 2008: R+9.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 113.4104
• 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

+1.1% since first listed

7 events — show timeline

• 2026-04-20 Contingent — IAR
• 2026-03-05 Price Changed $45,000 IAR
• 2026-03-05 Listed $50,000 IAR
• 2025-10-07 Price Changed $50,000 IAR
• 2025-08-12 Price Changed $67,900 IAR
• 2025-07-28 Listed $69,900 IAR
• 2016-12-27 Sold (Public Records) $44,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,206 · -1.1% YoY. Source: county tax records.