603 N Collins Cir · Mount Pleasant, IA 52641

$34,500

5 bd · 2.0 ba · 1,675 sqft · SingleFamily public records · 10 Days on market

Built 1972 0.27 ac lot ↓ 56% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Check out this split foyer home with a two car garage! This home features: 2 bedrooms, a dining area open to the living room and kitchen, bathrooms on the main floor and it the partially finished basement. This is a USDA property sold as "As-Is, Where-Is". Title will only be conveyed by Quitclaim Deed. Buyers must sign the Hold Harmless form prior to entering the property. To make an offer or for more information, visit www. MyNextBid.com

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1972

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding; 750 square feet of finished below-grade area
• Exterior features: Lot approximately 0.27 acres (41 x 150)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Cap rate 28.7% vs local median 3.3% in Mount Pleasant — 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 84/100 on livability (#20 in IA, #662 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Mount Pleasant Community School District (town): math 63% / reading 66% proficiency, ranked #207 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mount Pleasant Middle School (math 64% / reading 70%, grade A-, #140 of 246 statewide, top 60%, 406 students, 49% FRL).
• Market conditions: 93 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $239 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $34,500

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.24% ✓
• Cap rate: 28.71%
• Cash-on-cash: 80.07%
• DSCR: 4.56
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $172,525
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 N Bergdahl Ct	0.03mi	4/2.0 (-1)	1,696 (+1%)	12mo	$142,000	$84	82
910 W Hill Ave. Ave	0.16mi	5/2.0	1,706 (+2%)	13mo	$175,000	$103	79
311 W State St	0.27mi	4/2.5 (-1)	1,704 (+2%)	3mo	$185,000	$109	75
907 N Aldrin Dr	0.11mi	5/2.0	1,500 (-10%)	9mo	$152,000	$101	70
409 W Broad St. St	0.33mi	4/1.5 (-1)	1,568 (-6%)	12mo	$140,000	$89	57
601 W Armstrong Ct. Ct	0.06mi	4/3.0 (-1)	1,921 (+15%)	22mo	$292,000	$152	45
708 N Main St	0.51mi	4/2.0 (-1)	1,462 (-13%)	24mo	$148,000	$101	30
308 E Old Orchard Dr	0.67mi	4/2.5 (-1)	1,490 (-11%)	18mo	$340,000	$228	28

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: 80.3%
• Equity multiple: 4.67×
• Total profit: $35,481
• Equity at exit: $5,144

10-year hold

• IRR: 83.7%
• Equity multiple: 9.68×
• Total profit: $83,830
• Equity at exit: $2,983

Cash invested: $9,660 (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 52641

• Home prices YoY: -25.2%
• Active inventory: 93
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,118 medium
• Mortgage (P&I): −$181
• Tax est. 1.5%: −$43 /mo · $518/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $645

Break-even live

Break-even rent $302

Max offer price $34,500

Occupancy floor 37%

Sensitivity live

Price	-10% $668	-5% $657	+0% $645	+5% $633	+10% $621
Rent	-10% $556	-5% $600	+0% $645	+5% $689	+10% $733
Rate	-1.0pp $662	-0.5pp $653	base $645	+0.5pp $636	+1.0pp $627

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: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $34,500 Active 10 DOM
2. 2026-06-21
   days on market $34,500 Active 9 DOM
3. 2026-06-18
   days on market $34,500 Active 7 DOM
4. 2026-06-17
   days on market $34,500 Active 6 DOM
5. 2026-06-16
   days on market $34,500 Active 5 DOM
6. 2026-06-15
   days on market $34,500 Active 4 DOM
7. 2026-06-13
   days on market $34,500 Active 2 DOM
8. 2026-06-12
   remarks 442-char remark
9. 2026-06-12
   listed $34,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥107°F today · 15 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: $13,413
• − Mortgage interest: −$1,933
• − Property taxes: −$518
• − Insurance: −$172
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − Depreciation: −$1,004
• Taxable income: $7,641
• Est. tax owed @ 24.0%: −$1,834
• After-tax cash flow: $5,901/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: Mount Pleasant Community School District
• NCES district ID: 1919890
• Math proficiency: 63% ▼ -5.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $46,805
• Composite: 54.49/100
• National rank: #1348
• State rank: #207 of 289 in IA

Livability — Mount Pleasant

• Score: 84/100
• State rank: #20
• US rank: #662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Pleasant, IA
• Population (ZIP): 12,796

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.39%
• Current HPI: 179.2437
• 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

-56.3% since first listed

2 events — show timeline

• 2026-06-11 Listed $34,500 IAR
• 2011-03-16 Sold (Public Records) $79,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,566 · +5.7% YoY. Source: county tax records.