10675 Four Point Ln · Moravia, IA 52571

$81,500

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 64 Days on market

Built 1989 4,792 sqft 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 +29.7/30.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention Lake Rathbun goers and investors…here is your chance just in time for lake season! This 2 bedroom 2 bathroom lake property, in the Antler Acres subdivision, has lots of refreshes and comes mostly furnished and turn-key! The large living room and kitchen island make a perfect space for entertaining family and friends. With all appliances included, you can show up for a weekend and be ready to enjoy the season. The large primary bedroom has its own bathroom, complete with a separate soaker tub and shower. The second bedroom at the other end allows privacy between guests. The large front deck is a great gathering spot for the whole gang and has room for a grill, with a fire pit and additional seating close by. While it currently sleeps six, add a sofa sleeper and you can house even more. Whether you are looking for a summer or weekend retreat or a short-term rental property, get in touch with your favorite agent and schedule your showing today!

Key facts

• Lake property
• Fire pit
• Kitchen island

Tags

• LAKE PROPERTY
• ANTLER ACRES SUBDIVISION
• KITCHEN ISLAND
• ALL APPLIANCES INCLUDED
• LARGE FRONT DECK
• FIRE PIT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $77k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#454 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F, employment F.
• Moravia Community School District (rural): math 49% / reading 59% proficiency, ranked #269 of 289 in IA (top 93%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 6 units permitted in Appanoose County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($563 loan paydown + $6k appreciation (8.0% local appreciation)).
• Appanoose County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.
• Current owner paid $62k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $76,610 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.66%
• DSCR: 1.70
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 3.29×
• Total profit: $52,243
• Equity at exit: $61,621

10-year hold

• IRR: 28.7%
• Equity multiple: 7.02×
• Total profit: $137,450
• Equity at exit: $122,034

Cash invested: $22,820 (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 52571

• Home prices YoY: 3.4%
• Active inventory: 33
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$427
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $298

Break-even live

Break-even rent $653

Max offer price $81,500

Occupancy floor 66%

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: $20,375
• Closing costs: $2,445
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $81,500 Active 64 DOM
2. 2026-06-17
   days on market $81,500 Active 63 DOM
3. 2026-06-16
   days on market $81,500 Active 62 DOM
4. 2026-06-15
   days on market $81,500 Active 61 DOM
5. 2026-06-13
   days on market $81,500 Active 59 DOM
6. 2026-06-12
   days on market $81,500 Active 58 DOM
7. 2026-06-09
   days on market $81,500 Active 55 DOM
8. 2026-06-08
   days on market $81,500 Active 54 DOM
9. 2026-06-07
   days on market $81,500 Active 53 DOM
10. 2026-06-07
    days on market $81,500 Active 52 DOM
11. 2026-06-04
    days on market $81,500 Active 49 DOM
12. 2026-06-02
    days on market $81,500 Active 48 DOM
13. 2026-06-01
    days on market $81,500 Active 47 DOM
14. 2026-05-31
    days on market $81,500 Active 46 DOM
15. 2026-05-31
    days on market $81,500 Active 45 DOM
16. 2026-05-18
    price $81,500 974-char remark

    Show marketing remark (974 chars)

    Attention Lake Rathbun goers and investors…here is your chance just in time for lake season! This 2 bedroom 2 bathroom lake property, in the Antler Acres subdivision, has lots of refreshes and comes mostly furnished and turn-key! The large living room and kitchen island make a perfect space for entertaining family and friends. With all appliances included, you can show up for a weekend and be ready to enjoy the season. The large primary bedroom has its own bathroom, complete with a separate soaker tub and shower. The second bedroom at the other end allows privacy between guests. The large front deck is a great gathering spot for the whole gang and has room for a grill, with a fire pit and additional seating close by. While it currently sleeps six, add a sofa sleeper and you can house even more. Whether you are looking for a summer or weekend retreat or a short-term rental property, get in touch with your favorite agent and schedule your showing today!

17. 2026-04-15
    listed $84,900 Active 974-char remark

    Show marketing remark (974 chars)

    Attention Lake Rathbun goers and investors…here is your chance just in time for lake season! This 2 bedroom 2 bathroom lake property, in the Antler Acres subdivision, has lots of refreshes and comes mostly furnished and turn-key! The large living room and kitchen island make a perfect space for entertaining family and friends. With all appliances included, you can show up for a weekend and be ready to enjoy the season. The large primary bedroom has its own bathroom, complete with a separate soaker tub and shower. The second bedroom at the other end allows privacy between guests. The large front deck is a great gathering spot for the whole gang and has room for a grill, with a fire pit and additional seating close by. While it currently sleeps six, add a sofa sleeper and you can house even more. Whether you are looking for a summer or weekend retreat or a short-term rental property, get in touch with your favorite agent and schedule your showing today!

18. 2024-08-01
    soldstatus $62,000
19. 2024-07-23
    status Pending 920-char remark

    Show marketing remark (920 chars)

    Price Improvement - Motivated Seller! !Weekend Retreat! Manufactured 2 Bedroom, 2 Bath, Corner Lot close to Lake Rathbun and Honey Creek State Park & Resort awaits you. As you step inside, you're greeted by a spacious living area. The open floor plan creates a seamless flow from the living room to the kitchen, making it perfect for entertaining guests or enjoying family time. Both bedrooms are generously sized, providing comfort for you, your family, and any guests. This property invites you to relax and unwind from the hustle-bustle. It's perfect for enjoying morning coffee or evening barbecues. You can transform this manufactured home into your dream vacation getaway. Seller is providing most of the furnishings too. Don't miss this opportunity to make it your own and create lasting memories in a space that reflects your unique style and personality! Inventory is very low, call soon to snag this one!

20. 2024-06-24
    historical Active Under Contract 920-char remark

    Show marketing remark (920 chars)

    Price Improvement - Motivated Seller! !Weekend Retreat! Manufactured 2 Bedroom, 2 Bath, Corner Lot close to Lake Rathbun and Honey Creek State Park & Resort awaits you. As you step inside, you're greeted by a spacious living area. The open floor plan creates a seamless flow from the living room to the kitchen, making it perfect for entertaining guests or enjoying family time. Both bedrooms are generously sized, providing comfort for you, your family, and any guests. This property invites you to relax and unwind from the hustle-bustle. It's perfect for enjoying morning coffee or evening barbecues. You can transform this manufactured home into your dream vacation getaway. Seller is providing most of the furnishings too. Don't miss this opportunity to make it your own and create lasting memories in a space that reflects your unique style and personality! Inventory is very low, call soon to snag this one!

21. 2024-06-14
    price $71,000 920-char remark

    Show marketing remark (920 chars)

    Price Improvement - Motivated Seller! !Weekend Retreat! Manufactured 2 Bedroom, 2 Bath, Corner Lot close to Lake Rathbun and Honey Creek State Park & Resort awaits you. As you step inside, you're greeted by a spacious living area. The open floor plan creates a seamless flow from the living room to the kitchen, making it perfect for entertaining guests or enjoying family time. Both bedrooms are generously sized, providing comfort for you, your family, and any guests. This property invites you to relax and unwind from the hustle-bustle. It's perfect for enjoying morning coffee or evening barbecues. You can transform this manufactured home into your dream vacation getaway. Seller is providing most of the furnishings too. Don't miss this opportunity to make it your own and create lasting memories in a space that reflects your unique style and personality! Inventory is very low, call soon to snag this one!

22. 2024-04-24
    listed $79,000 Active 920-char remark

    Show marketing remark (920 chars)

    Price Improvement - Motivated Seller! !Weekend Retreat! Manufactured 2 Bedroom, 2 Bath, Corner Lot close to Lake Rathbun and Honey Creek State Park & Resort awaits you. As you step inside, you're greeted by a spacious living area. The open floor plan creates a seamless flow from the living room to the kitchen, making it perfect for entertaining guests or enjoying family time. Both bedrooms are generously sized, providing comfort for you, your family, and any guests. This property invites you to relax and unwind from the hustle-bustle. It's perfect for enjoying morning coffee or evening barbecues. You can transform this manufactured home into your dream vacation getaway. Seller is providing most of the furnishings too. Don't miss this opportunity to make it your own and create lasting memories in a space that reflects your unique style and personality! Inventory is very low, call soon to snag this one!

23. 2023-09-19
    price $98,500
24. 2023-08-26
    status Active
25. 2023-08-09
    historical
26. 2023-08-07
    price $109,000
27. 2023-07-10
    listed $115,000 Active
28. 2004-07-31
    soldstatus $62,000 Closed 920-char remark

    Show marketing remark (920 chars)

    Price Improvement - Motivated Seller! !Weekend Retreat! Manufactured 2 Bedroom, 2 Bath, Corner Lot close to Lake Rathbun and Honey Creek State Park & Resort awaits you. As you step inside, you're greeted by a spacious living area. The open floor plan creates a seamless flow from the living room to the kitchen, making it perfect for entertaining guests or enjoying family time. Both bedrooms are generously sized, providing comfort for you, your family, and any guests. This property invites you to relax and unwind from the hustle-bustle. It's perfect for enjoying morning coffee or evening barbecues. You can transform this manufactured home into your dream vacation getaway. Seller is providing most of the furnishings too. Don't miss this opportunity to make it your own and create lasting memories in a space that reflects your unique style and personality! Inventory is very low, call soon to snag this one!

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$311/yr (+$26/mo · 47.2%)

ⓘ 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 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: $12,363
• − Mortgage interest: −$4,565
• − Property taxes: −$658
• − Insurance: −$408
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,371
• Taxable income: $2,383
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $3,001/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: Moravia Community School District
• NCES district ID: 1919710
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $46,306
• Composite: 45.71/100
• National rank: #2575
• State rank: #269 of 289 in IA

Livability — Moravia

• Score: 68/100
• State rank: #454
• US rank: #9947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,516

Population outlook (Appanoose County) Hauer SSP2

• Today (2025): 11,726 people
• By 2030: 11,194 · -4.5%
• By 2040: 10,063 · -14.2%
• By 2050: 8,976 · -23.5%
• By 2075: 6,785 · -42.1%
• By 2100: 4,819 · -58.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Asian 3% Black 2% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Iranian 6% Italian 4% Portuguese 2%
• Foreign-born: 3% · South Korea

Political lean MEDSL · Appanoose

• 2024 margin: Solid R (+46.7) · D 26.1% · R 72.8% · Other 1.2%
• 2008→2024 swing: -44.8pp toward R · 2008: -1.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+40.2 2016: R+36.4 2012: R+3.5 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.95%
• Current HPI: 243.7764
• 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

+31.5% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $81,500 IAR
• 2026-04-15 Listed $84,900 IAR
• 2024-08-01 Sold (Public Records) $62,000 Public Records
• 2024-07-23 Pending — IAR
• 2024-06-24 Contingent — IAR
• 2024-06-14 Price Changed $71,000 IAR
• 2024-04-24 Listed $79,000 IAR
• 2023-09-19 Price Changed $98,500 IAR
• 2023-08-26 Relisted — IAR
• 2023-08-09 Delisted — IAR
• 2023-08-07 Price Changed $109,000 IAR
• 2023-07-10 Listed $115,000 IAR
• 2004-07-31 Sold (MLS) $62,000 IAR

Property tax history

+6.7%/yr

Latest (2025): $658 · -0.6% YoY. Source: county tax records.