105 N High Street St

Anamosa, IA 52205

$52,000B

4 bd · 2.0 ba · 1,722 sqft · Built 1920 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,452/mo
• Mortgage (P&I): −$273
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $798/mo
• Annual: $9,571/yr
• Cap rate: 24.70%
• Cash-on-cash: 65.73%
• DSCR: 3.92
• 1% rule: 2.79%
• Cash to close: $14,560

Investor read

• This is a 4-bed/2.0-bath single-family listed at $52k.
• At list price, monthly cash flow is $798 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• It's been on market 36 days — a 3% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#240 in IA, #4,682 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Anamosa Community School District (town): math 62% / reading 65% proficiency, ranked #210 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Anamosa Middle School (math 64% / reading 63%, grade B+, #169 of 246 statewide, top 69%, 344 students, 40% FRL); Anamosa High School (math 58% / reading 72%, grade B, #208 of 336 statewide, top 62%, 397 students, 39% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 47 active listings in the ZIP; 25 units permitted in Jones County in 2024 (0 in 5+ unit buildings).
• Jones County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.7% vs local median 3.3% in Anamosa — 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.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.