608 N Fillmore St · Osceola, IA 50213

$89,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 99 Days on market

Built 1920 0.26 ac lot $101/sqft · 25% below area Est $119k · 25% under

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Why this score? — see what drove the A- 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 +27.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.6/10.0
• 1% rule +6.9/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great location for this 2 Bedroom bungalow! Close to school and pool with easy access to downtown area and minutes to I-35. Large kitchen and living room/ dining room, enclosed front porch, partial basement, covered side deck, Central heat and air-conditioning, detached garage, front deck with ramp access, enclosed back porch, and a super nice lot!

Key facts

• Enclosed back porch
• Covered side deck
• Partial basement

Tags

• ENCLOSED FRONT PORCH
• COVERED SIDE DECK
• FRONT DECK WITH RAMP ACCESS
• ENCLOSED BACK PORCH
• PARTIAL BASEMENT
• LARGE KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.2% in Osceola — 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 74/100 on livability (#253 in IA, #4,874 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F.
• Clarke Community School District (town): math 47% / reading 58% proficiency, ranked #275 of 289 in IA (top 95%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 52 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 125 units permitted in Clarke County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $89k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1920 — 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. 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: 1.19% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $118,861
• List price: $89,000
• Delta: -25.12%
• 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
701 N Main St	0.15mi	2/1.0	918 (+4%)	15mo	$77,500	$84	73
208 W Clay St	0.25mi	2/2.0	852 (-3%)	8mo	$72,825	$85	72
117 W Logan St	0.10mi	3/1.0 (+1)	1,010 (+15%)	1mo	$160,000	$158	64
220 Eastside Dr	0.57mi	2/1.0	924 (+5%)	5mo	$128,000	$139	61
410 Webster St	0.57mi	2/1.0	864 (-2%)	15mo	$130,000	$150	58
213 N Adams St	0.44mi	3/1.5 (+1)	946 (+8%)	5mo	$185,000	$196	56
520 E Webster St	0.68mi	2/1.0	952 (+8%)	2mo	$145,900	$153	53
321 W Clay St	0.25mi	3/2.0 (+1)	1,008 (+14%)	4mo	$145,000	$144	52
219 W Ayers St	0.16mi	3/1.5 (+1)	1,008 (+14%)	18mo	$116,500	$116	47
206 S Lincoln St	0.61mi	1/1.0 (-1)	953 (+8%)	8mo	$36,000	$38	46
814 Roosevelt Blvd	0.37mi	2/1.0	767 (-13%)	18mo	$65,000	$85	46
210 E Cass St	0.69mi	2/1.0	1,002 (+14%)	13mo	$149,500	$149	34

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

Projected returns pro-forma

9.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.5%
• Equity multiple: 3.61×
• Total profit: $65,076
• Equity at exit: $80,139

10-year hold

• IRR: 28.9%
• Equity multiple: 8.16×
• Total profit: $178,524
• Equity at exit: $172,779

Cash invested: $24,920 (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 50213

• Home prices YoY: 4.8%
• Active inventory: 52
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $261

Break-even live

Break-even rent $733

Max offer price $89,000

Occupancy floor 70%

Sensitivity live

Price	-10% $312	-5% $287	+0% $261	+5% $236	+10% $211
Rent	-10% $177	-5% $219	+0% $261	+5% $303	+10% $345
Rate	-1.0pp $306	-0.5pp $284	base $261	+0.5pp $238	+1.0pp $215

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 W Clay St #2 Osceola, IA	2.0	1.0	1008	$995	$0.99	20d	1	0.21mi
604 S Fillmore St Osceola, IA	2.0	1.0	600	$900	$1.50	45d	1	0.89mi
422 S Gustin Unit 1 Osceola, IA	2.0	1.0	750	$300	$0.40	4d	1	0.93mi
502 Wildflower Dr Osceola, IA	3.0	1.0–2.0	1098	$1,152	$1.05	4d	8	1.46mi

Listing history 20 events

1. 2026-06-18
   days on market $89,000 Active 99 DOM
2. 2026-06-17
   status $89,000 Active 98 DOM
3. 2026-06-15
   status $89,000 Pending 98 DOM
4. 2026-06-15
   days on market $89,000 Active 98 DOM
5. 2026-06-14
   days on market $89,000 Active 96 DOM
6. 2026-06-13
   days on market $89,000 Active 95 DOM
7. 2026-06-10
   pricedays on market $89,000 Active 93 DOM
8. 2026-06-09
   days on market $91,500 Active 92 DOM
9. 2026-06-08
   days on market $91,500 Active 91 DOM
10. 2026-06-07
    days on market $91,500 Active 90 DOM
11. 2026-06-03
    days on market $91,500 Active 86 DOM
12. 2026-06-02
    days on market $91,500 Active 85 DOM
13. 2026-06-01
    days on market $91,500 Active 84 DOM
14. 2026-05-31
    days on market $91,500 Active 83 DOM
15. 2026-05-31
    days on market $91,500 Active 82 DOM
16. 2026-05-18
    price $91,500 352-char remark

    Show marketing remark (352 chars)

    Great location for this 2 Bedroom bungalow! Close to school and pool with easy access to downtown area and minutes to I-35. Large kitchen and living room/ dining room, enclosed front porch, partial basement, covered side deck, Central heat and air-conditioning, detached garage, front deck with ramp access, enclosed back porch, and a super nice lot!

17. 2026-04-20
    price $93,900 352-char remark

    Show marketing remark (352 chars)

    Great location for this 2 Bedroom bungalow! Close to school and pool with easy access to downtown area and minutes to I-35. Large kitchen and living room/ dining room, enclosed front porch, partial basement, covered side deck, Central heat and air-conditioning, detached garage, front deck with ramp access, enclosed back porch, and a super nice lot!

18. 2026-03-30
    price $98,000 352-char remark

    Show marketing remark (352 chars)

    Great location for this 2 Bedroom bungalow! Close to school and pool with easy access to downtown area and minutes to I-35. Large kitchen and living room/ dining room, enclosed front porch, partial basement, covered side deck, Central heat and air-conditioning, detached garage, front deck with ramp access, enclosed back porch, and a super nice lot!

19. 2026-03-09
    listed $104,000 Active 352-char remark

    Show marketing remark (352 chars)

    Great location for this 2 Bedroom bungalow! Close to school and pool with easy access to downtown area and minutes to I-35. Large kitchen and living room/ dining room, enclosed front porch, partial basement, covered side deck, Central heat and air-conditioning, detached garage, front deck with ramp access, enclosed back porch, and a super nice lot!

20. 1994-04-18
    soldstatus $26,500

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $1,149 · $96/mo
• Expected delta: +$249/yr (+$21/mo · 27.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $12,762
• − Mortgage interest: −$4,985
• − Property taxes: −$900
• − Insurance: −$445
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$2,589
• Taxable income: $1,801
• Est. tax owed @ 24.0%: −$432
• After-tax cash flow: $2,704/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: Clarke Community School District
• NCES district ID: 1907410
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 58% ▲ 1.00%
• Median HH income: $44,866
• Composite: 44.33/100
• National rank: #2825
• State rank: #275 of 289 in IA

Livability — Osceola

• Score: 74/100
• State rank: #253
• US rank: #4874

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osceola, IA
• County: Clarke County · 7,489 people
• City population: 7,489
• Metro: nan
• Population (ZIP): 7,489
• Household income: $73,026
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 102.0

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 9,307 people
• By 2030: 9,294 · -0.1%
• By 2040: 9,259 · -0.5%
• By 2050: 9,345 · +0.4%
• By 2075: 10,219 · +9.8%
• By 2100: 11,526 · +23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 8%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Portuguese 2% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Asian/Pacific 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid R (+42.0) · D 28.4% · R 70.4% · Other 1.2%
• 2008→2024 swing: -44.3pp toward R · 2008: 2.2pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+35.9 2016: R+28.2 2012: D+1.4 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.99%
• Current HPI: 216.6704
• Rent YoY: —
• Metro: nan
• 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

+245.3% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $91,500 IAR
• 2026-04-20 Price Changed $93,900 IAR
• 2026-03-30 Price Changed $98,000 IAR
• 2026-03-09 Listed $104,000 IAR
• 1994-04-18 Sold (Public Records) $26,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $900 · -10.0% YoY. Source: county tax records.