416 E North St · Algona, IA 50511

$120,000

4 bd · 1.5 ba · 1,781 sqft · SingleFamily public records · 84 Days on market

Built 1900 8,580 sqft lot $67/sqft · 17% below area Est $137k · 13% under

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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 +25.8/30.0
• ARV discount +13.2/15.0
• DSCR +8.6/10.0
• 1% rule +6.3/10.0
• Schools +5.7/10.0
• 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

Looking for a nice home with a large 3 stall garage in Algona? Look no further. Walk in and embrace the spacious living space along with a kitchen that has great cabinet storage. On the main level you will also find 2 bedrooms and bathroom. Upstairs you will find 2 more large bedrooms. Don't miss the almost 900 sq ft garage that could be a handyman's dream! Come take a look today!

Key facts

• 8,580 sq ft lot
• 3 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.7% in Algona — 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 79/100 on livability (#98 in IA, #2,006 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D+, amenities F, commute F.
• Algona Community School District (town): math 65% / reading 70% proficiency, ranked #170 of 289 in IA (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 50 active listings in the ZIP; 15 units permitted in Kossuth County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kossuth County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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: 1.13% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (median comp): $137,272
• List price: $120,000
• Delta: -12.58%
• 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
503 E Lucas St	0.11mi	3/1.5 (-1)	1,732 (-3%)	5mo	$144,500	$83	81
405 N Phillips St	0.27mi	3/2.5 (-1)	1,878 (+5%)	0mo	$162,500	$87	69
508 N Church St	0.28mi	4/2.0	1,572 (-12%)	1mo	$185,300	$118	65
703 N Thorington St	0.42mi	3/2.0 (-1)	1,876 (+5%)	1mo	$360,000	$192	64
120 S Roan St	0.61mi	3/2.5 (-1)	1,792 (+1%)	2mo	$195,000	$109	60
1007 N Minnesota St	0.43mi	4/2.0	1,632 (-8%)	6mo	$225,000	$138	59
619 S Harlan St St	0.53mi	5/1.5 (+1)	1,712 (-4%)	9mo	$95,000	$55	57
602 N Hall St	0.40mi	3/2.0 (-1)	1,613 (-9%)	3mo	$162,900	$101	57
417 S Sample St	0.53mi	3/2.0 (-1)	1,719 (-4%)	10mo	$165,000	$96	54
715 S Dodge St	0.62mi	3/2.0 (-1)	1,640 (-8%)	11mo	$225,000	$137	42
121 N Lowe St	0.68mi	3/2.0 (-1)	2,018 (+13%)	2mo	$165,000	$82	38
615 W State St St	0.65mi	3/2.0 (-1)	2,024 (+14%)	10mo	$175,000	$86	32

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-933
• Equity at exit: $17,892

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $22,996
• Equity at exit: $10,375

Cash invested: $33,600 (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 50511

• Home prices YoY: -27.4%
• Active inventory: 50
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $291

Break-even live

Break-even rent $987

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $359	-5% $325	+0% $291	+5% $257	+10% $223
Rent	-10% $184	-5% $237	+0% $291	+5% $344	+10% $398
Rate	-1.0pp $351	-0.5pp $321	base $291	+0.5pp $260	+1.0pp $228

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $120,000 Active 84 DOM
2. 2026-06-18
   days on market $120,000 Active 82 DOM
3. 2026-06-17
   days on market $120,000 Active 81 DOM
4. 2026-06-16
   days on market $120,000 Active 80 DOM
5. 2026-06-15
   days on market $120,000 Active 79 DOM
6. 2026-06-13
   days on market $120,000 Active 77 DOM
7. 2026-06-12
   days on market $120,000 Active 76 DOM
8. 2026-06-09
   days on market $120,000 Active 73 DOM
9. 2026-06-08
   days on market $120,000 Active 72 DOM
10. 2026-06-07
    days on market $120,000 Active 71 DOM
11. 2026-06-07
    days on market $120,000 Active 70 DOM
12. 2026-06-04
    days on market $120,000 Active 67 DOM
13. 2026-06-02
    days on market $120,000 Active 66 DOM
14. 2026-06-01
    days on market $120,000 Active 65 DOM
15. 2026-05-31
    days on market $120,000 Active 64 DOM
16. 2026-05-31
    days on market $120,000 Active 63 DOM
17. 2026-03-28
    listed $120,000 Active 383-char remark

    Show marketing remark (383 chars)

    Looking for a nice home with a large 3 stall garage in Algona? Look no further. Walk in and embrace the spacious living space along with a kitchen that has great cabinet storage. On the main level you will also find 2 bedrooms and bathroom. Upstairs you will find 2 more large bedrooms. Don't miss the almost 900 sq ft garage that could be a handyman's dream! Come take a look today!

ⓘ 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: $1,206 · $100/mo
• Projected year-2 tax: $1,545 · $129/mo
• Expected delta: +$339/yr (+$28/mo · 28.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $16,262
• − Mortgage interest: −$6,722
• − Property taxes: −$1,206
• − Insurance: −$600
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$3,491
• Taxable income: $1,642
• Est. tax owed @ 24.0%: −$394
• After-tax cash flow: $3,096/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: Algona Community School District
• NCES district ID: 1903360
• Math proficiency: 65% ▼ -8.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $51,369
• Composite: 57.41/100
• National rank: #1076
• State rank: #170 of 289 in IA

Livability — Algona

• Score: 79/100
• State rank: #98
• US rank: #2006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Algona, IA
• City population: 6,987
• Population (ZIP): 6,987

Population outlook (Kossuth County) Hauer SSP2

• Today (2025): 14,667 people
• By 2030: 14,445 · -1.5%
• By 2040: 14,093 · -3.9%
• By 2050: 13,825 · -5.7%
• By 2075: 14,039 · -4.3%
• By 2100: 13,662 · -6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Portuguese 7% Lithuanian 3% Iranian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Kossuth

• 2024 margin: Solid R (+44.2) · D 27.3% · R 71.4% · Other 1.3%
• 2008→2024 swing: -47.4pp toward R · 2008: 3.2pp · 2024: -44.2pp
• All cycles: 2024: R+44.2 2020: R+39.4 2016: R+36.5 2012: R+12.3 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 180.5984
• 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

1 event — show timeline

• 2026-03-28 Listed $120,000 IAR

Property tax history

+4.8%/yr

Latest (2025): $1,206 · +2.9% YoY. Source: county tax records.