436 N 4th St

Oskaloosa, IA 52577

$149,900C

4 bd · 1.5 ba · 1,460 sqft · Built 1930 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,445/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$229
• HOA: −$0
• Vac / Maint / Mgmt: −$303
• Net cashflow: $127/mo
• Annual: $1,524/yr
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• 1% rule: 0.96%
• Cash to close: $41,972

Investor read

• This is a 4-bed/1.5-bath single-family listed at $150k.
• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (3.6% below list).
• It's been on market 45 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (3.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#57 in IA, #1,325 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Oskaloosa Community School District (rural): math 62% / reading 67% proficiency, ranked #208 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oskaloosa Elementary School (math 67% / reading 62%, grade B, #317 of 616 statewide, top 58%, 886 students, 53% FRL); Oskaloosa Middle School (math 65% / reading 71%, grade A-, #131 of 246 statewide, top 53%, 454 students, 49% FRL); Oskaloosa High School (math 55% / reading 67%, grade C+, #258 of 336 statewide, top 78%, 600 students, 36% FRL) — zoned schools at 46% FRL track the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 73 active listings in the ZIP; 13 units permitted in Mahaska County in 2024 (0 in 5+ unit buildings).
• Mahaska County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y 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 $109k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.3% vs local median 4.9% in Oskaloosa — 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.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.