406 Highland Street St · Olin, IA 52320

$12,500

2 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 5 Days on market

Built 1900 10,220 sqft lot

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Alert! Yes, needs work but less than a used car! One bedroom on the main floor along with kitchen/dining and living and the one bathroom. Upper level has two bedrooms with one being a pass through. Detached garage features room for a workshop. SOLD in AS IS condition.

Key facts

• Kitchen dining
• Workshop
• Main floor

Tags

• MAIN FLOOR
• KITCHEN DINING
• DETACHED GARAGE
• WORKSHOP

Property features AI

Exterior

• Parking: Detached carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; R-1 zoning; Lot approximately 73 x 140 (0.24 acres)
• Construction: Masonite siding; Shingle roof; Partially finished basement with interior entry
• Exterior features: Enclosed patio/porch; Storage structure on property; Level lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $12k).

Location & tenants

• Location reads 62/100 on livability (#721 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, employment D+, amenities F.
• Olin Consolidated School District (rural): math 60% / reading 40% proficiency, ranked #320 of 330 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 25 units permitted in Jones County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $802 of equity ($86 loan paydown + $716 appreciation (5.7% local appreciation)).
• Jones County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $12,500

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 7.79% ✓
• Cap rate: 72.94%
• Cash-on-cash: 238.04%
• DSCR: 11.59
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $101,742
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Highland Street St	0.00mi	3/1.0 (+1)	1,094 (0%)	0mo	$15,000	$14	95
200 E 2nd St St	0.46mi	2/1.0	1,232 (+13%)	7mo	$115,000	$93	52
110 Midway St	0.65mi	3/2.0 (+1)	1,222 (+12%)	17mo	$168,000	$137	27

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

Projected returns pro-forma

5.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.61×
• Total profit: $47,636
• Equity at exit: $7,646

10-year hold

• IRR: —
• Equity multiple: 31.16×
• Total profit: $105,567
• Equity at exit: $13,685

Cash invested: $3,500 (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 52320

• Home prices YoY: 3.8%
• Active inventory: 6
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$66
• Tax from tax record: −$5 /mo · $56/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $694

Break-even live

Break-even rent $95

Max offer price $12,500

Occupancy floor 24%

Sensitivity live

Price	-10% $701	-5% $698	+0% $694	+5% $691	+10% $687
Rent	-10% $617	-5% $656	+0% $694	+5% $733	+10% $771
Rate	-1.0pp $701	-0.5pp $697	base $694	+0.5pp $691	+1.0pp $688

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Pending
2. 2026-05-08
   listed $12,500 Active

ⓘ 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: $56 · $5/mo
• Projected year-2 tax: $126 · $11/mo
• Expected delta: +$70/yr (+$6/mo · 125.2%)

ⓘ 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 (shaded) · 0% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,692
• − Mortgage interest: −$700
• − Property taxes: −$56
• − Insurance: −$62
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$364
• Taxable income: $8,639
• Est. tax owed @ 24.0%: −$2,073
• After-tax cash flow: $6,258/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: Olin Consolidated School District
• NCES district ID: 1921720
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 40% ▼ -30.00%
• Median HH income: $52,473
• Composite: 45.08/100
• National rank: #5829
• State rank: #320 of 330 in IA

Livability — Olin

• Score: 62/100
• State rank: #721
• US rank: #16679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olin, IA
• City population: 1,243
• Population (ZIP): 1,243

Population outlook (Jones County) Hauer SSP2

• Today (2025): 20,023 people
• By 2030: 19,702 · -1.6%
• By 2040: 19,007 · -5.1%
• By 2050: 18,396 · -8.1%
• By 2075: 17,955 · -10.3%
• By 2100: 17,448 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Slovak 9% Iranian 4% Italian 3%
• Foreign-born: 0%

Political lean MEDSL · Jones

• 2024 margin: Strong R (+26.3) · D 36.0% · R 62.3% · Other 1.7%
• 2008→2024 swing: -36.7pp toward R · 2008: 10.4pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+21.5 2016: R+19.4 2012: D+7.7 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.73%
• Current HPI: 155.6929
• 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

2 events — show timeline

• 2026-05-13 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-08 Listed $12,500 NEIRBR as distributed by MLS GRID

Property tax history

-25.2%/yr

Latest (2025): $56 · -64.1% YoY. Source: county tax records.