615 1st Ave · Ackley, IA 50601

$55,000

4 bd · 1.5 ba · 2,151 sqft · SingleFamily public records · 143 Days on market

Built 1872 0.50 ac lot $26/sqft · 67% below area

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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
• Appreciation +6.4/10.0
• Schools +5.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for a fixer upper or possible investment property? Make sure to add this one to your list! With 4 bedrooms, 2 baths, and over 2,000 sq ft this property could make a great family home. This home includes two lots giving you a half-acre in town with tons of fruit trees and off-street parking! A brand-new boiler system has been added along with new windows and flooring in the huge master bedroom/den upstairs.

Key facts

• Two lots
• Half-acre
• Fruit trees

Tags

• TWO LOTS
• HALF-ACRE
• FRUIT TREES
• OFF-STREET PARKING
• BRAND-NEW BOILER SYSTEM
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#377 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Agwsr Community School District (rural): math 60% / reading 69% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (2.8% local appreciation)).
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $13k; list at $55k implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1872 — 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 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?
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: 2.12% ✓
• Cap rate: 18.91%
• Cash-on-cash: 45.08%
• DSCR: 3.01
• GRM: 3.9

CMA / ARV

• ARV (median comp): $165,834
• List price: $55,000
• Delta: -66.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 1st Ave Ave	0.25mi	4/2.0	2,142 (-0%)	5mo	$162,000	$76	81
1004 2nd Ave Ave	0.32mi	4/1.5	2,332 (+8%)	1mo	$200,000	$86	71
101 Hilltop Dr	0.66mi	3/2.0 (-1)	2,162 (+0%)	6mo	$162,000	$75	56
1009 Main	0.32mi	4/1.5	1,860 (-14%)	13mo	$172,900	$93	51
1113 State St	0.57mi	4/2.0	2,238 (+4%)	23mo	$219,900	$98	46
917 2nd Ave	0.27mi	4/1.5	2,444 (+14%)	24mo	$240,000	$98	45
905 10th Ave	0.67mi	5/2.0 (+1)	2,089 (-3%)	23mo	$196,000	$94	38

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

Projected returns pro-forma

2.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.1%
• Equity multiple: 3.79×
• Total profit: $42,966
• Equity at exit: $24,201

10-year hold

• IRR: 50.0%
• Equity multiple: 7.62×
• Total profit: $101,944
• Equity at exit: $36,890

Cash invested: $15,400 (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 50601

• Home prices YoY: 1.9%
• Active inventory: 29
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $376/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $578

Break-even live

Break-even rent $434

Max offer price $55,000

Occupancy floor 45%

Sensitivity live

Price	-10% $610	-5% $594	+0% $578	+5% $563	+10% $547
Rent	-10% $486	-5% $532	+0% $578	+5% $625	+10% $671
Rate	-1.0pp $606	-0.5pp $592	base $578	+0.5pp $564	+1.0pp $550

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $55,000 Active 143 DOM
2. 2026-06-18
   days on market $55,000 Active 141 DOM
3. 2026-06-17
   days on market $55,000 Active 140 DOM
4. 2026-06-16
   days on market $55,000 Active 139 DOM
5. 2026-06-15
   days on market $55,000 Active 138 DOM
6. 2026-06-13
   days on market $55,000 Active 136 DOM
7. 2026-06-12
   days on market $55,000 Active 135 DOM
8. 2026-06-09
   days on market $55,000 Active 132 DOM
9. 2026-06-08
   days on market $55,000 Active 131 DOM
10. 2026-06-07
    days on market $55,000 Active 130 DOM
11. 2026-06-07
    days on market $55,000 Active 129 DOM
12. 2026-06-04
    days on market $55,000 Active 126 DOM
13. 2026-06-02
    days on market $55,000 Active 125 DOM
14. 2026-06-01
    days on market $55,000 Active 124 DOM
15. 2026-05-31
    days on market $55,000 Active 123 DOM
16. 2026-05-31
    days on market $55,000 Active 122 DOM
17. 2026-01-27
    listed $55,000 Active 417-char remark

    Show marketing remark (417 chars)

    Looking for a fixer upper or possible investment property? Make sure to add this one to your list! With 4 bedrooms, 2 baths, and over 2,000 sq ft this property could make a great family home. This home includes two lots giving you a half-acre in town with tons of fruit trees and off-street parking! A brand-new boiler system has been added along with new windows and flooring in the huge master bedroom/den upstairs.

18. 2019-10-03
    soldstatus $13,250 289-char remark

    Show marketing remark (289 chars)

    2 story vintage home with that do it yourself feel. Is being sold as is. Cash 4 bedrooms. Close to downtown Ackley. Has a large detached garage with alley access. Adjacent vacant to the east ( 891902252018) lot is being sold along with house property. Estate listing. No seller disclosures

19. 2019-10-03
    soldstatus $13,250

    Show marketing remark (289 chars)

    2 story vintage home with that do it yourself feel. Is being sold as is. Cash 4 bedrooms. Close to downtown Ackley. Has a large detached garage with alley access. Adjacent vacant to the east ( 891902252018) lot is being sold along with house property. Estate listing. No seller disclosures

20. 2019-06-17
    listed $17,500 289-char remark

    Show marketing remark (289 chars)

    2 story vintage home with that do it yourself feel. Is being sold as is. Cash 4 bedrooms. Close to downtown Ackley. Has a large detached garage with alley access. Adjacent vacant to the east ( 891902252018) lot is being sold along with house property. Estate listing. No seller disclosures

21. 2019-06-17
    listed $17,500

    Show marketing remark (289 chars)

    2 story vintage home with that do it yourself feel. Is being sold as is. Cash 4 bedrooms. Close to downtown Ackley. Has a large detached garage with alley access. Adjacent vacant to the east ( 891902252018) lot is being sold along with house property. Estate listing. No seller disclosures

ⓘ 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: $376 · $31/mo
• Projected year-2 tax: $620 · $52/mo
• Expected delta: +$244/yr (+$20/mo · 64.8%)

ⓘ 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 ≥102°F today · 15 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: $13,992
• − Mortgage interest: −$3,081
• − Property taxes: −$376
• − Insurance: −$275
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$1,600
• Taxable income: $6,422
• Est. tax owed @ 24.0%: −$1,541
• After-tax cash flow: $5,401/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: Agwsr Community School District
• NCES district ID: 1903060
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -1.00%
• Median HH income: $51,863
• Composite: 54.95/100
• National rank: #1304
• State rank: #198 of 289 in IA

Livability — Ackley

• Score: 70/100
• State rank: #377
• US rank: #7968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ackley, IA
• Population (ZIP): 2,377

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Iranian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.83%
• Current HPI: 154.031
• 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

+214.3% since first listed

5 events — show timeline

• 2026-01-27 Listed $55,000 IAR
• 2019-10-03 Sold (MLS) $13,250 NEIRBR as distributed by MLS GRID
• 2019-10-03 Sold (MLS) $13,250 IAR
• 2019-06-17 Listed $17,500 NEIRBR as distributed by MLS GRID
• 2019-06-17 Listed $17,500 IAR

Property tax history

-2.5%/yr

Latest (2025): $376 · -9.2% YoY. Source: county tax records.