506 E Temple St · Lenox, IA 50851

$145,000

4 bd · 2.0 ba · 1,509 sqft · SingleFamily · 132 Days on market

Built 1920 Good condition 10,019 sqft lot $96/sqft · 28% below area Est $201k · 28% under ↓ 3% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• Schools +5.9/10.0
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

This charming four-bedroom, two-bathroom home offers 1,509 square feet of comfortable living space that perfectly blends classic character with modern updates. Step inside to discover beautiful original hardwood floors and woodwork throughout, complemented by a stunning staircase and elegant leaded glass windows that add timeless appeal. The updated kitchen provides a fresh, functional space for daily cooking and entertaining, while the renovated bathrooms offer modern comfort. Four bedrooms provide plenty of flexibility for family life, guests, or a home office setup. Outside, you'll find a covered front porch perfect for morning coffee or evening relaxation, plus a large back deck that's ideal for outdoor gatherings. The single car attached garage adds convenience and storage options. Located just down the street from Lenox City Park, outdoor recreation is practically at your doorstep. The home's classic features, like original hardwood and period details, create warmth and character while thoughtful updates ensure modern comfort. This property offers the perfect opportunity to enjoy small-town living with both charm and functionality in every corner. Give us a call today for additional information or to take a look! Price Reduced!

Key facts

• Covered front porch
• Renovated bathrooms
• Leaded glass windows

Tags

• ORIGINAL HARDWOOD FLOORS
• STUNNING STAIRCASE
• LEADED GLASS WINDOWS
• UPDATED KITCHEN
• RENOVATED BATHROOMS
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-40 ($-483/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (16.0% below list).
• Recommended offer: $122k (16.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#127 in IA, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lenox Community School District (rural): math 72% / reading 68% proficiency, ranked #157 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 4 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, 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 132 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $121,752 (16.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (median comp): $200,824
• List price: $145,000
• Delta: -27.80%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.4%
• Equity multiple: 1.37×
• Total profit: $14,924
• Equity at exit: $65,198

10-year hold

• IRR: 9.3%
• Equity multiple: 2.40×
• Total profit: $56,766
• Equity at exit: $100,478

Cash invested: $40,600 (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 50851

• Active inventory: 4
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-40

Break-even live

Break-even rent $1,268

Max offer price $139,180

Occupancy floor 98%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $145,000 Active 132 DOM
2. 2026-06-17
   days on market $145,000 Active 131 DOM
3. 2026-06-16
   days on market $145,000 Active 130 DOM
4. 2026-06-15
   days on market $145,000 Active 129 DOM
5. 2026-06-13
   days on market $145,000 Active 127 DOM
6. 2026-06-12
   days on market $145,000 Active 126 DOM
7. 2026-06-09
   days on market $145,000 Active 123 DOM
8. 2026-06-08
   days on market $145,000 Active 122 DOM
9. 2026-06-07
   days on market $145,000 Active 121 DOM
10. 2026-06-05
    days on market $145,000 Active 119 DOM
11. 2026-06-04
    days on market $145,000 Active 117 DOM
12. 2026-06-02
    days on market $145,000 Active 116 DOM
13. 2026-06-01
    days on market $145,000 Active 115 DOM
14. 2026-05-31
    days on market $145,000 Active 114 DOM
15. 2026-05-31
    days on market $145,000 Active 113 DOM
16. 2026-03-26
    price $145,000 1253-char remark

    Show marketing remark (1253 chars)

    This charming four-bedroom, two-bathroom home offers 1,509 square feet of comfortable living space that perfectly blends classic character with modern updates. Step inside to discover beautiful original hardwood floors and woodwork throughout, complemented by a stunning staircase and elegant leaded glass windows that add timeless appeal. The updated kitchen provides a fresh, functional space for daily cooking and entertaining, while the renovated bathrooms offer modern comfort. Four bedrooms provide plenty of flexibility for family life, guests, or a home office setup. Outside, you'll find a covered front porch perfect for morning coffee or evening relaxation, plus a large back deck that's ideal for outdoor gatherings. The single car attached garage adds convenience and storage options. Located just down the street from Lenox City Park, outdoor recreation is practically at your doorstep. The home's classic features, like original hardwood and period details, create warmth and character while thoughtful updates ensure modern comfort. This property offers the perfect opportunity to enjoy small-town living with both charm and functionality in every corner. Give us a call today for additional information or to take a look! Price Reduced!

17. 2026-02-07
    listed $149,900 Active 1253-char remark

    Show marketing remark (1253 chars)

    This charming four-bedroom, two-bathroom home offers 1,509 square feet of comfortable living space that perfectly blends classic character with modern updates. Step inside to discover beautiful original hardwood floors and woodwork throughout, complemented by a stunning staircase and elegant leaded glass windows that add timeless appeal. The updated kitchen provides a fresh, functional space for daily cooking and entertaining, while the renovated bathrooms offer modern comfort. Four bedrooms provide plenty of flexibility for family life, guests, or a home office setup. Outside, you'll find a covered front porch perfect for morning coffee or evening relaxation, plus a large back deck that's ideal for outdoor gatherings. The single car attached garage adds convenience and storage options. Located just down the street from Lenox City Park, outdoor recreation is practically at your doorstep. The home's classic features, like original hardwood and period details, create warmth and character while thoughtful updates ensure modern comfort. This property offers the perfect opportunity to enjoy small-town living with both charm and functionality in every corner. Give us a call today for additional information or to take a look! Price Reduced!

ⓘ 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 2/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,610
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$4,218
• Taxable loss: −$2,968
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $230/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming four-bedroom home offers 1,509 square feet of comfortable living space with original hardwood floors and leaded glass windows. The updated kitchen and bathrooms provide modern comfort, and the covered porch and large back deck add to the home's appeal.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental clean gutters — improves property maintenance

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental clean gutters — improves property maintenance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lenox Community School District
• NCES district ID: 1916620
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 68% ▼ -2.00%
• Median HH income: $40,932
• Composite: 58.52/100
• National rank: #995
• State rank: #157 of 289 in IA

Livability — Lenox

• Score: 79/100
• State rank: #127
• US rank: #2338

Category grades

Amenities F 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: Lenox, IA
• Population (ZIP): 2,145

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 6,143 people
• By 2030: 6,100 · -0.7%
• By 2040: 6,080 · -1.0%
• By 2050: 6,146 · +0.0%
• By 2075: 6,596 · +7.4%
• By 2100: 6,954 · +13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 8%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 3% Iranian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+55.7) · D 21.6% · R 77.4% · Other 1.0%
• 2008→2024 swing: -47.1pp toward R · 2008: -8.6pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+52.9 2016: R+45.1 2012: R+14.1 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-3.3% since first listed

2 events — show timeline

• 2026-03-26 Price Changed $145,000 IAR
• 2026-02-07 Listed $149,900 IAR