4890 455th Ave Ave · Mallard, IA 50562

$60,000

2 bd · 1.0 ba · 713 sqft · SingleFamily public records · 80 Days on market

Built 1900 0.63 ac lot $84/sqft · 80% above area ↓ 8% 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 +6.4/10.0
• Appreciation +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very nice private area. Smaller home but a very large lot on the edge of town. Move in ready.

Key facts

• Large lot
• Move in ready
• 0.63 acre lot

Tags

• LARGE LOT
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#461 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• West Bend-Mallard Community School District (rural): math 71% / reading 82% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($415 loan paydown + $646 appreciation (1.1% local appreciation)).
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.67%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $33,309
• List price: $60,000
• Delta: 80.13%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.1%
• Equity multiple: 2.60×
• Total profit: $26,901
• Equity at exit: $20,722

10-year hold

• IRR: 33.4%
• Equity multiple: 5.04×
• Total profit: $67,842
• Equity at exit: $27,724

Cash invested: $16,800 (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 50562

• Home prices YoY: 1.0%
• Active inventory: 4
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $978 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $401

Break-even live

Break-even rent $470

Max offer price $60,000

Occupancy floor 54%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $60,000 Active 80 DOM
2. 2026-06-17
   days on market $60,000 Active 79 DOM
3. 2026-06-16
   days on market $60,000 Active 78 DOM
4. 2026-06-15
   days on market $60,000 Active 77 DOM
5. 2026-06-13
   days on market $60,000 Active 75 DOM
6. 2026-06-12
   days on market $60,000 Active 74 DOM
7. 2026-06-09
   days on market $60,000 Active 71 DOM
8. 2026-06-08
   days on market $60,000 Active 70 DOM
9. 2026-06-07
   days on market $60,000 Active 69 DOM
10. 2026-06-04
    days on market $60,000 Active 65 DOM
11. 2026-06-02
    days on market $60,000 Active 64 DOM
12. 2026-06-01
    days on market $60,000 Active 63 DOM
13. 2026-05-31
    days on market $60,000 Active 62 DOM
14. 2026-05-15
    price $60,000 93-char remark

    Show marketing remark (93 chars)

    Very nice private area. Smaller home but a very large lot on the edge of town. Move in ready.

15. 2026-03-30
    listed $64,900 Active 93-char remark

    Show marketing remark (93 chars)

    Very nice private area. Smaller home but a very large lot on the edge of town. Move in ready.

ⓘ 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: $382 · $32/mo
• Projected year-2 tax: $662 · $55/mo
• Expected delta: +$280/yr (+$23/mo · 73.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 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: $11,740
• − Mortgage interest: −$3,361
• − Property taxes: −$382
• − Insurance: −$300
• − Repairs & maintenance: −$939
• − Management: −$939
• − Depreciation: −$1,745
• Taxable income: $4,073
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $3,839/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 Bend-Mallard Community School District
• NCES district ID: 1930720
• Math proficiency: 71% ▲ 1.00%
• Reading proficiency: 82% ▲ 7.00%
• Median HH income: $45,858
• Composite: 64.32/100
• National rank: #554
• State rank: #64 of 289 in IA

Livability — Mallard

• Score: 67/100
• State rank: #461
• US rank: #10171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mallard, IA
• Population (ZIP): 346

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Portuguese 9% Serbian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.08%
• Current HPI: 113.6462
• 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

-7.6% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $60,000 IAR
• 2026-03-30 Listed $64,900 IAR

Property tax history

+29.1%/yr

Latest (2025): $382 · -0.8% YoY. Source: county tax records.