438 N 4th St · Oskaloosa, IA 52577

$130,000

3 bd · 1.0 ba · 1,138 sqft · SingleFamily public records · 44 Days on market

Built 1920 7,200 sqft lot $114/sqft · 23% below area Est $170k · 23% under

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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 +17.1/30.0
• ARV discount +15.0/15.0
• Schools +5.4/10.0
• DSCR +5.3/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

Key facts

• Functional kitchen
• Durable metal siding
• Full basement

Tags

• 1920S CHARACTER
• HISTORIC DOWNTOWN LOCATION
• FUNCTIONAL KITCHEN
• ORIGINAL WOOD FLOORING
• FULL BASEMENT
• DURABLE METAL SIDING

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Rectangular lot; Concrete road access; Zoned R
• Construction: Metal siding; Asphalt shingle roof; Unfinished basement
• Exterior features: Covered patio; Outdoor storage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window unit cooling
• Interior features: Dining area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (8.1% below list).
• Recommended offer: $120k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.8% in Oskaloosa — 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 81/100 on livability (#57 in IA, #1,325 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Oskaloosa Community School District (rural): math 62% / reading 67% proficiency, ranked #208 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 13 units permitted in Mahaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mahaska County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

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

Recommended offer $119,500 (8.1% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (median comp): $169,876
• List price: $130,000
• Delta: -23.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 N 1st St	0.23mi	3/1.0	1,092 (-4%)	2mo	$89,000	$82	81
214 College Ave	0.43mi	3/1.0	1,089 (-4%)	1mo	$77,000	$71	72
505 A Ave E	0.25mi	2/1.0 (-1)	1,188 (+4%)	6mo	$129,000	$109	71
306 4th Ave E	0.60mi	2/1.5 (-1)	1,120 (-2%)	5mo	$182,000	$163	58
415 College Ave	0.55mi	2/1.0 (-1)	1,092 (-4%)	5mo	$151,000	$138	58
710 N C St	0.44mi	3/1.0	1,242 (+9%)	7mo	$60,000	$48	58
501 4th Ave E	0.56mi	2/1.0 (-1)	1,201 (+6%)	6mo	$19,000	$16	55
1013 4th Ave E	0.66mi	3/2.0	1,040 (-9%)	3mo	$163,000	$157	48
1012 5th Ave E	0.74mi	3/1.5	1,028 (-10%)	1mo	$162,500	$158	47
1117 3rd Ave	0.64mi	3/1.0	992 (-13%)	4mo	$175,000	$176	46
712 N H St	0.74mi	3/1.0	1,276 (+12%)	0mo	$165,000	$129	45
411 College Hill Ave	0.62mi	2/1.5 (-1)	1,032 (-9%)	4mo	$150,000	$145	45

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: -11.6%
• Equity multiple: 0.58×
• Total profit: $-15,312
• Equity at exit: $19,383

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-5,952
• Equity at exit: $11,240

Cash invested: $36,400 (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 52577

• Home prices YoY: -25.4%
• Active inventory: 71
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $90

Break-even live

Break-even rent $1,080

Max offer price $130,000

Occupancy floor 87%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 B Ave W Unit 26 Oskaloosa, IA	2.0	1.0	856	$1,195	$1.40	43d	1	1.08mi
1315 B Ave W Unit 6 Oskaloosa, IA	2.0	1.0	856	$1,195	$1.40	43d	1	1.10mi

Listing history 27 events

1. 2026-06-18
   days on market $130,000 Active 44 DOM
2. 2026-06-17
   days on market $130,000 Active 43 DOM
3. 2026-06-16
   days on market $130,000 Active 42 DOM
4. 2026-06-15
   days on market $130,000 Active 41 DOM
5. 2026-06-13
   days on market $130,000 Active 39 DOM
6. 2026-06-12
   days on market $130,000 Active 38 DOM
7. 2026-06-09
   days on market $130,000 Active 35 DOM
8. 2026-06-08
   days on market $130,000 Active 34 DOM
9. 2026-06-07
   days on market $130,000 Active 33 DOM
10. 2026-06-07
    days on market $130,000 Active 32 DOM
11. 2026-06-04
    days on market $130,000 Active 29 DOM
12. 2026-06-02
    days on market $130,000 Active 28 DOM
13. 2026-06-01
    days on market $130,000 Active 27 DOM
14. 2026-05-31
    days on market $130,000 Active 26 DOM
15. 2026-05-31
    days on market $130,000 Active 25 DOM
16. 2026-05-05
    listed $135,000 Active 1047-char remark
17. 2024-07-01
    soldstatus $115,000 Closed 1069-char remark

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

18. 2024-07-01
    soldstatus $115,000

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

19. 2024-06-12
    status Pending 1069-char remark

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

20. 2024-05-29
    historical Active Under Contract 1069-char remark

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

21. 2024-05-23
    price $107,900 1069-char remark

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

22. 2024-05-23
    listed $104,900 Active 1069-char remark

    Show marketing remark (1069 chars)

    Great location - 3 bedrooms - 1 full bath - large back yard - walkout basement - carport/driveway fits two large vehicles - large storage shed in backyard. MOVE RIGHT IN - kitchen has new backsplash - gas stove, refrigerator and fresh paint - entry way has room for everyone's coats, shoes, and book bags. Main floor has a large living room/dining room area - plus room for a home office. Check out the stairway going to the upstairs - you can enter from either side. Upper level has three bedrooms with closets and hardwood floors. Full basement with lots of storage areas, laundry area, washer and dryer will stay with the home and a walkout door to the back yard - play set and shed will stay with the property. Great neighborhood and very close to the schools. Priced to SELL! $3000 cash back at closing to repair the driveway - seller doesn't have the time to complete the job. Call your agent today to set your appointment. All offers are due to the listing agent no later than noon on May 29th, 2024. All offers will need preapproval letters or proof of funds.

23. 2021-05-13
    soldstatus $75,000
24. 2021-02-17
    soldstatus $75,000

    Show marketing remark (438 chars)

    REDUCED!!! * * * This 3 bedroom home is MOVE IN READY!!! * * * The walkout basement allows easy access to the large backyard that includes a shed & alley access. There is an attached, covered carport. New shingles in 2020, & most windows have been replaced! If you want AFFORDABLE living that is LESS THAN PAYING RENT, you must see this property TODAY! * * * $1000 back to buyer at closing for closing costs!!! * * *

25. 2021-02-17
    soldstatus $45,000

    Show marketing remark (438 chars)

    REDUCED!!! * * * This 3 bedroom home is MOVE IN READY!!! * * * The walkout basement allows easy access to the large backyard that includes a shed & alley access. There is an attached, covered carport. New shingles in 2020, & most windows have been replaced! If you want AFFORDABLE living that is LESS THAN PAYING RENT, you must see this property TODAY! * * * $1000 back to buyer at closing for closing costs!!! * * *

26. 2020-10-19
    listed $79,900

    Show marketing remark (438 chars)

    REDUCED!!! * * * This 3 bedroom home is MOVE IN READY!!! * * * The walkout basement allows easy access to the large backyard that includes a shed & alley access. There is an attached, covered carport. New shingles in 2020, & most windows have been replaced! If you want AFFORDABLE living that is LESS THAN PAYING RENT, you must see this property TODAY! * * * $1000 back to buyer at closing for closing costs!!! * * *

27. 2014-10-09
    soldstatus $45,000

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $1,726 · $144/mo
• Expected delta: +$314/yr (+$26/mo · 22.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,340
• − Mortgage interest: −$7,282
• − Property taxes: −$1,412
• − Insurance: −$650
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$3,782
• Taxable loss: −$1,080
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $1,345/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: Oskaloosa Community School District
• NCES district ID: 1921870
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 67% ▬ 0.00%
• Median HH income: $44,362
• Composite: 54.26/100
• National rank: #1373
• State rank: #208 of 289 in IA

Livability — Oskaloosa

• Score: 81/100
• State rank: #57
• US rank: #1325

Category grades

Amenities D- 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: Oskaloosa, IA
• Population (ZIP): 14,336

Population outlook (Mahaska County) Hauer SSP2

• Today (2025): 22,032 people
• By 2030: 21,682 · -1.6%
• By 2040: 20,750 · -5.8%
• By 2050: 19,800 · -10.1%
• By 2075: 17,839 · -19.0%
• By 2100: 15,829 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Iranian 8% Italian 3% Portuguese 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Mahaska

• 2024 margin: Solid R (+51.6) · D 23.6% · R 75.2% · Other 1.1%
• 2008→2024 swing: -35.1pp toward R · 2008: -16.5pp · 2024: -51.6pp
• All cycles: 2024: R+51.6 2020: R+47.4 2016: R+45.7 2012: R+20.5 2008: R+16.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.78%
• Current HPI: 239.9131
• 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

+188.9% since first listed

13 events — show timeline

• 2026-05-20 Price Changed $130,000 DMMLS
• 2026-05-05 Listed $135,000 DMMLS
• 2024-07-01 Sold (Public Records) $115,000 Public Records
• 2024-07-01 Sold (MLS) $115,000 IAR
• 2024-06-12 Pending — IAR
• 2024-05-29 Contingent — IAR
• 2024-05-23 Price Changed $107,900 IAR
• 2024-05-23 Listed $104,900 IAR
• 2021-05-13 Sold (Public Records) $75,000 Public Records
• 2021-02-17 Sold (Public Records) $45,000 Public Records
• 2021-02-17 Sold (MLS) $75,000 IAR
• 2020-10-19 Listed $79,900 IAR
• 2014-10-09 Sold (Public Records) $45,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,412 · +0.6% YoY. Source: county tax records.