205 Ash St · Pisgah, IA 51564

$59,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 4 Days on market

Built 1900 10,500 sqft lot ↓ 16% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.24 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Off-street parking; One-car garage
• Utilities: Electricity available; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Composition roof
• Exterior features: Front porch; Wooded lot; Waterfront lot; Asphalt road access

Interior

• Flooring: Wood floors
• Heating & cooling: Electric heating; Ceiling fans; Wall air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $59k).

Location & tenants

• Location reads 59/100 on livability (#876 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• West Harrison Community School District (rural): math 55% / reading 65% proficiency, ranked #281 of 330 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Harrison Elementary (math 54% / reading 54%, grade C, #462 of 616 statewide, top 79%, 161 students, 55% FRL); West Harrison Middle School/High School (math 57% / reading 62%, grade C+, #263 of 336 statewide, top 81%, 148 students, 43% FRL) — zoned schools average 49% FRL vs 32% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 41 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($408 loan paydown + $3k appreciation (4.8% local appreciation)).
• Harrison County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.46% ✓
• Cap rate: 12.35%
• Cash-on-cash: 21.62%
• DSCR: 1.96
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $217,616
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Polk St	0.02mi	2/1.0	852 (+5%)	6mo	$110,000	$129	85
406 E Main St	0.41mi	2/1.0	784 (-3%)	15mo	$210,000	$268	63

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

Projected returns pro-forma

4.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 2.45×
• Total profit: $23,900
• Equity at exit: $32,632

10-year hold

• IRR: 22.8%
• Equity multiple: 4.83×
• Total profit: $63,275
• Equity at exit: $55,665

Cash invested: $16,520 (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 51564

• Home prices YoY: 4.1%
• Active inventory: 5
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $861 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$25
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $172

Break-even live

Break-even rent $643

Max offer price $59,000

Occupancy floor 75%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $59,000 Active 4 DOM
2. 2026-06-17
   days on market $59,000 Active 3 DOM
3. 2026-06-16
   days on market $59,000 Active 2 DOM
4. 2026-06-15
   listed $59,000 Active 1 DOM

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $756 · $63/mo
• Expected delta: +$171/yr (+$14/mo · 29.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone A · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $10,335
• − Mortgage interest: −$3,305
• − Property taxes: −$585
• − Insurance: −$1,798
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$1,716
• Taxable income: $1,277
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $1,762/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 Harrison Community School District
• NCES district ID: 1930960
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 65% ▼ -10.00%
• Median HH income: $49,566
• Composite: 52.63/100
• National rank: #3352
• State rank: #281 of 330 in IA

Livability — Pisgah

• Score: 59/100
• State rank: #876
• US rank: #20410

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pisgah, IA
• Population (ZIP): 512

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 13,193 people
• By 2030: 12,519 · -5.1%
• By 2040: 11,134 · -15.6%
• By 2050: 9,749 · -26.1%
• By 2075: 7,254 · -45.0%
• By 2100: 5,298 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Serbian 5% Slovak 4% Iranian 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -37.2pp toward R · 2008: -4.7pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.4 2016: R+37.5 2012: R+12.7 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.78%
• Current HPI: 120.0847
• 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

-15.7% since first listed

2 events — show timeline

• 2026-06-12 Listed $59,000 SWIAR
• 2022-04-14 Sold (Public Records) $70,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $585 · -0.5% YoY. Source: county tax records.