134 Main St · Rowan, IA 50470

$6,500

4 bd · 1.5 ba · 1,689 sqft · SingleFamily public records · 116 Days on market

Built 1914 9,583 sqft lot $4/sqft · 55% below area

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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
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

Key facts

• Woodwork
• Built in features
• 9,583 sq ft lot

Tags

• WOODWORK
• BUILT IN FEATURES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $6k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $6k).
• Recommended offer: $6k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#783 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Belmond-Klemme Community School District (rural): math 60% / reading 67% proficiency, ranked #212 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Richard O. Jacobson Elementary School (math 67% / reading 62%, grade B, #317 of 616 statewide, top 58%, 362 students, 55% FRL); Belmond-Klemme Community Jr-Sr High School (math 56% / reading 71%, grade B-, #239 of 336 statewide, top 71%, 328 students, 49% FRL).
• Market conditions: 2 active listings in the ZIP; 23 units permitted in Wright County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $138 of equity ($45 loan paydown + $93 appreciation (1.4% local appreciation)).
• Wright County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: property tax is 3.0% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $5,915 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 19.19% ✓
• Cap rate: 178.37%
• Cash-on-cash: 614.55%
• DSCR: 28.34
• GRM: 0.4

CMA / ARV

• ARV (median comp): $14,550
• List price: $6,500
• Delta: -55.33%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 Pritchett Ave	0.09mi	4/2.0	1,567 (-7%)	20mo	$14,000	$9	65

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

Projected returns pro-forma

1.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 33.77×
• Total profit: $59,649
• Equity at exit: $2,367

10-year hold

• IRR: —
• Equity multiple: 72.36×
• Total profit: $129,874
• Equity at exit: $3,263

Cash invested: $1,820 (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 50470

• Home prices YoY: 1.5%
• Active inventory: 2
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$34
• Tax from tax record: −$16 /mo · $196/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $932

Break-even live

Break-even rent $67

Max offer price $6,500

Occupancy floor 20%

Sensitivity live

Price	-10% $936	-5% $934	+0% $932	+5% $930	+10% $928
Rent	-10% $834	-5% $883	+0% $932	+5% $981	+10% $1,031
Rate	-1.0pp $935	-0.5pp $934	base $932	+0.5pp $930	+1.0pp $929

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: $1,625
• Closing costs: $195
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-15
   status Active 269-char remark

   Show marketing remark (269 chars)

   This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

2. 2026-02-24
   historical Active Under Contract 269-char remark

   Show marketing remark (269 chars)

   This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

3. 2026-02-23
   status Active 269-char remark

   Show marketing remark (269 chars)

   This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

4. 2026-02-23
   historical Active Under Contract 269-char remark

   Show marketing remark (269 chars)

   This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

5. 2026-01-30
   listed $6,500 Active 269-char remark

   Show marketing remark (269 chars)

   This property is an excellent bargain for the right buyer. Needs roof repair, and cleaned out ( the pictures don't lie ) After that, expect some repairs and updates. Many unknowns here, but there appears to be nice woodwork and built in features. sells as-is of course.

ⓘ 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: $196 · $16/mo
• Projected year-2 tax: $196 · $16/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $14,965
• − Mortgage interest: −$364
• − Property taxes: −$196
• − Insurance: −$32
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$189
• Taxable income: $11,789
• Est. tax owed @ 24.0%: −$2,829
• After-tax cash flow: $8,356/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: Belmond-Klemme Community School District
• NCES district ID: 1904680
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 67% ▲ 7.00%
• Median HH income: $46,566
• Composite: 53.63/100
• National rank: #1435
• State rank: #212 of 289 in IA

Livability — Rowan

• Score: 61/100
• State rank: #783
• US rank: #17794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rowan, IA
• Population (ZIP): 305

Population outlook (Wright County) Hauer SSP2

• Today (2025): 12,154 people
• By 2030: 11,770 · -3.2%
• By 2040: 10,981 · -9.7%
• By 2050: 10,313 · -15.1%
• By 2075: 9,217 · -24.2%
• By 2100: 8,084 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 17% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 2% Portuguese 2% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 2%

Political lean MEDSL · Wright

• 2024 margin: Solid R (+36.5) · D 31.0% · R 67.5% · Other 1.4%
• 2008→2024 swing: -35.0pp toward R · 2008: -1.5pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+34.2 2016: R+31.9 2012: R+8.3 2008: R+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.43%
• Current HPI: 98.4242
• 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

5 events — show timeline

• 2026-03-15 Relisted — IAR
• 2026-02-24 Contingent — IAR
• 2026-02-23 Relisted — IAR
• 2026-02-23 Contingent — IAR
• 2026-01-30 Listed $6,500 IAR

Property tax history

-1.2%/yr

Latest (2025): $196 · +12.6% YoY. Source: county tax records.