515 2nd Ave Ave · Ackley, IA 50601

$139,900

4 bd · 1.5 ba · 2,368 sqft · SingleFamily public records · 142 Days on market

Built 1897 8,400 sqft lot $59/sqft · 12% below area Est $158k · 12% under ↓ 7% since listing

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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 +15.4/30.0
• ARV discount +12.7/15.0
• Appreciation +6.4/10.0
• Schools +5.5/10.0
• DSCR +4.7/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this charming two-story home in a nice, quiet neighborhood! Inside, you will find an open concept living area on the main floor as well as many recent updates throughout the house! The spacious eat-in kitchen is designed with ample storage and counterspace! This home includes 4 bedrooms, 2 full bathrooms, a main-floor laundry room as well as a newer furnace, AC and electrical service! Outside you find covered patio spaces in the front and the back as well as a 1-stall detached garage! Call today to schedule a showing!

Key facts

• Covered patio spaces
• Ample storage
• 8,400 sq ft lot

Tags

• OPEN CONCEPT LIVING AREA
• SPACIOUS EAT-IN KITCHEN
• AMPLE STORAGE
• COVERED PATIO SPACES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $53 ($631/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 $116k (16.7% below list).
• Recommended offer: $116k (16.7% below list) — sets the bar for 1% rule.

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 $5k of equity ($967 loan paydown + $4k 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,476 (16.7% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — 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: 0.83% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (median comp): $158,287
• List price: $139,900
• Delta: -11.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 2nd Ave Ave	0.38mi	4/1.5	2,332 (-2%)	1mo	$200,000	$86	79
918 1st Ave Ave	0.34mi	4/2.0	2,142 (-10%)	5mo	$162,000	$76	62
917 2nd Ave	0.34mi	4/1.5	2,444 (+3%)	24mo	$240,000	$98	59
1113 State St	0.53mi	4/2.0	2,238 (-6%)	23mo	$219,900	$98	45
905 10th Ave	0.64mi	5/2.0 (+1)	2,089 (-12%)	23mo	$196,000	$94	24

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: 8.5%
• Equity multiple: 1.48×
• Total profit: $18,890
• Equity at exit: $61,558

10-year hold

• IRR: 11.1%
• Equity multiple: 2.64×
• Total profit: $64,103
• Equity at exit: $93,833

Cash invested: $39,172 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$76 /mo · $908/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $53

Break-even live

Break-even rent $1,098

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $132	-5% $92	+0% $53	+5% $13	+10% $-27
Rent	-10% $-39	-5% $7	+0% $53	+5% $99	+10% $145
Rate	-1.0pp $123	-0.5pp $88	base $53	+0.5pp $16	+1.0pp $-21

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $139,900 Active 142 DOM
2. 2026-06-18
   days on market $139,900 Active 140 DOM
3. 2026-06-17
   days on market $139,900 Active 139 DOM
4. 2026-06-16
   days on market $139,900 Active 138 DOM
5. 2026-06-15
   days on market $139,900 Active 137 DOM
6. 2026-06-13
   days on market $139,900 Active 135 DOM
7. 2026-06-12
   days on market $139,900 Active 134 DOM
8. 2026-06-09
   days on market $139,900 Active 131 DOM
9. 2026-06-08
   days on market $139,900 Active 130 DOM
10. 2026-06-07
    days on market $139,900 Active 129 DOM
11. 2026-06-07
    days on market $139,900 Active 128 DOM
12. 2026-06-04
    days on market $139,900 Active 125 DOM
13. 2026-06-02
    days on market $139,900 Active 124 DOM
14. 2026-06-01
    days on market $139,900 Active 123 DOM
15. 2026-05-31
    days on market $139,900 Active 122 DOM
16. 2026-05-31
    days on market $139,900 Active 121 DOM
17. 2026-04-23
    price $139,900 535-char remark

    Show marketing remark (535 chars)

    Welcome to this charming two-story home in a nice, quiet neighborhood! Inside, you will find an open concept living area on the main floor as well as many recent updates throughout the house! The spacious eat-in kitchen is designed with ample storage and counterspace! This home includes 4 bedrooms, 2 full bathrooms, a main-floor laundry room as well as a newer furnace, AC and electrical service! Outside you find covered patio spaces in the front and the back as well as a 1-stall detached garage! Call today to schedule a showing!

18. 2026-04-23
    price $139,900 535-char remark

    Show marketing remark (535 chars)

    Welcome to this charming two-story home in a nice, quiet neighborhood! Inside, you will find an open concept living area on the main floor as well as many recent updates throughout the house! The spacious eat-in kitchen is designed with ample storage and counterspace! This home includes 4 bedrooms, 2 full bathrooms, a main-floor laundry room as well as a newer furnace, AC and electrical service! Outside you find covered patio spaces in the front and the back as well as a 1-stall detached garage! Call today to schedule a showing!

19. 2026-01-29
    listed $149,900 Active 535-char remark

    Show marketing remark (535 chars)

    Welcome to this charming two-story home in a nice, quiet neighborhood! Inside, you will find an open concept living area on the main floor as well as many recent updates throughout the house! The spacious eat-in kitchen is designed with ample storage and counterspace! This home includes 4 bedrooms, 2 full bathrooms, a main-floor laundry room as well as a newer furnace, AC and electrical service! Outside you find covered patio spaces in the front and the back as well as a 1-stall detached garage! Call today to schedule a showing!

20. 2026-01-29
    listed $149,900 Active 535-char remark

    Show marketing remark (535 chars)

    Welcome to this charming two-story home in a nice, quiet neighborhood! Inside, you will find an open concept living area on the main floor as well as many recent updates throughout the house! The spacious eat-in kitchen is designed with ample storage and counterspace! This home includes 4 bedrooms, 2 full bathrooms, a main-floor laundry room as well as a newer furnace, AC and electrical service! Outside you find covered patio spaces in the front and the back as well as a 1-stall detached garage! Call today to schedule a showing!

ⓘ 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: $908 · $76/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$644/yr (+$54/mo · 70.9%)

ⓘ 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: $13,977
• − Mortgage interest: −$7,837
• − Property taxes: −$908
• − Insurance: −$700
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$4,070
• Taxable loss: −$1,773
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $1,056/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

-6.7% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $139,900 IAR
• 2026-04-23 Price Changed $139,900 NEIRBR as distributed by MLS GRID
• 2026-01-29 Listed $149,900 NEIRBR as distributed by MLS GRID
• 2026-01-29 Listed $149,900 IAR

Property tax history

+2.7%/yr

Latest (2025): $908 · -9.9% YoY. Source: county tax records.