1829 Main St · Keokuk, IA 52632

$25,000

4 bd · 2.0 ba · 1,765 sqft · SingleFamily public records · 301 Days on market

Built 1891 5,227 sqft lot $14/sqft · 74% below area ↓ 34% since listing

---

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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

Key facts

• Durable metal roof
• High-demand area
• 5,227 sq ft lot

Tags

• DURABLE METAL ROOF
• HIGH-DEMAND AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $707 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 40.2% vs local median 8.2% in Keokuk — 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 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 301 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $13k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 301 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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. 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: 4.43% ✓
• Cap rate: 40.24%
• Cash-on-cash: 121.24%
• DSCR: 6.39
• GRM: 1.9

CMA / ARV

• ARV (median comp): $95,615
• List price: $25,000
• Delta: -73.85%
• 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
1821 Johnson St	0.08mi	4/2.0	1,960 (+11%)	7mo	$24,000	$12	72
1409 Des Moines St	0.47mi	4/2.5	1,708 (-3%)	4mo	$85,000	$50	67
1322 Blondeau St	0.36mi	3/2.0 (-1)	1,648 (-7%)	1mo	$169,000	$103	67
1613 Des Moines St	0.39mi	4/1.0	1,899 (+8%)	5mo	$17,500	$9	61
1616 High St	0.24mi	3/1.5 (-1)	1,568 (-11%)	6mo	$125,000	$80	58
515 Hickory Ter	0.55mi	3/2.0 (-1)	1,656 (-6%)	5mo	$138,000	$83	55
906 Morgan St	0.71mi	4/2.0	1,664 (-6%)	5mo	$32,000	$19	53
2017 Palean St	0.44mi	3/1.5 (-1)	1,618 (-8%)	8mo	$58,000	$36	52
825 Bank St	0.74mi	4/1.5	1,640 (-7%)	3mo	$134,000	$82	50
1220 Leighton	0.69mi	4/2.0	1,512 (-14%)	10mo	$85,000	$56	36
902 S 14th St	0.73mi	3/1.0 (-1)	1,558 (-12%)	2mo	$65,000	$42	36
776 Eicher St	0.68mi	5/2.0 (+1)	1,500 (-15%)	4mo	$110,000	$73	35

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.86×
• Total profit: $41,006
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.39×
• Total profit: $93,763
• Equity at exit: $2,162

Cash invested: $7,000 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $707

Break-even live

Break-even rent $212

Max offer price $25,000

Occupancy floor 31%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $25,000 Active 301 DOM
2. 2026-06-17
   days on market $25,000 Active 300 DOM
3. 2026-06-16
   days on market $25,000 Active 299 DOM
4. 2026-06-15
   days on market $25,000 Active 298 DOM
5. 2026-06-13
   days on market $25,000 Active 296 DOM
6. 2026-06-12
   days on market $25,000 Active 295 DOM
7. 2026-06-09
   days on market $25,000 Active 292 DOM
8. 2026-06-08
   days on market $25,000 Active 291 DOM
9. 2026-06-07
   days on market $25,000 Active 290 DOM
10. 2026-06-07
    days on market $25,000 Active 289 DOM
11. 2026-06-04
    days on market $25,000 Active 286 DOM
12. 2026-06-02
    days on market $25,000 Active 285 DOM
13. 2026-06-01
    days on market $25,000 Active 284 DOM
14. 2026-05-31
    days on market $25,000 Active 283 DOM
15. 2026-05-31
    days on market $25,000 Active 282 DOM
16. 2026-04-14
    status Active 853-char remark

    Show marketing remark (853 chars)

    Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

17. 2026-04-08
    historical Active Under Contract 853-char remark

    Show marketing remark (853 chars)

    Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

18. 2026-02-19
    price $25,000 853-char remark

    Show marketing remark (853 chars)

    Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

19. 2025-12-15
    price $30,000 853-char remark

    Show marketing remark (853 chars)

    Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

20. 2025-08-21
    listed $38,000 Active 853-char remark

    Show marketing remark (853 chars)

    Located in the heart of Keokuk, this 4-bedroom, 2-bathroom home offers an incredible opportunity for a savvy investor or a DIY-enthusiast. Situated on Main Street, the property boasts a desirable and highly convenient location. Imagine being able to walk to doctor's offices, a variety of restaurants, and shopping destinations—all just steps from your front door. The home features a durable metal roof, providing long-term peace of mind and protection from the elements. While the interior is in need of some TLC, it is ready for a transformation. This property is a blank canvas, perfect for someone with a vision to create a beautiful family home or a lucrative rental property in a high-demand area. This property is being sold "as-is" and is priced to reflect the work needed. Schedule a showing today and bring your ideas to life!

ⓘ 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: $310 · $26/mo
• Projected year-2 tax: $351 · $29/mo
• Expected delta: +$41/yr (+$3/mo · 13.3%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,285
• − Mortgage interest: −$1,400
• − Property taxes: −$310
• − Insurance: −$125
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$727
• Taxable income: $8,597
• Est. tax owed @ 24.0%: −$2,063
• After-tax cash flow: $6,424/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.80%
• Current HPI: 122.2866
• 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

-34.2% since first listed

5 events — show timeline

• 2026-04-14 Relisted — IAR
• 2026-04-08 Contingent — IAR
• 2026-02-19 Price Changed $25,000 IAR
• 2025-12-15 Price Changed $30,000 IAR
• 2025-08-21 Listed $38,000 IAR

Property tax history

-4.3%/yr

Latest (2025): $310 · -49.8% YoY. Source: county tax records.