602 Folger St · Duncombe, IA 50532

$139,900

2 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 22 Days on market

Built 1915 10,019 sqft lot Est $94k · 48% over

---

Why this score? — see what drove the F 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).

• Appreciation +8.6/10.0
• Cash flow +8.4/30.0
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

Charming and full of character, this unique bungalow-style home offers a warm and inviting feel with thoughtful updates throughout. Tall ceilings and abundant natural light create an open, airy atmosphere, while the home’s distinctive layout gives it a personality all its own. The updated kitchen is both stylish and functional, with convenient access to a spacious side deck overlooking the large fenced-in backyard—perfect for entertaining, relaxing, or enjoying summer evenings. The backyard also includes a 10x24 storage shed for tools and lawn equipment, along with a detached 24x26 two-car garage. The primary suite features a beautifully updated ensuite bathroom with double sink

Key facts

• Spacious side deck
• Updated kitchen
• 10x24 storage shed

Tags

• BUNGALOW STYLE HOME
• UPDATED KITCHEN
• SPACIOUS SIDE DECK
• LARGE FENCED IN BACKYARD
• 10X24 STORAGE SHED
• DETACHED TWO CAR GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Above-grade living area about 1,098
• Exterior features: Lot approximately 0.23 acres (100 x 100)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (31.6% below list).
• Recommended offer: $96k (31.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#458 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, amenities F.
• Webster City Community School District (town): math 60% / reading 60% proficiency, ranked #250 of 289 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 25 units permitted in Webster County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($967 loan paydown + $10k appreciation (7.2% local appreciation)).
• Webster County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,683 (31.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1915 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.68% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $94,428
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Allen St	0.19mi	3/1.0 (+1)	1,013 (-8%)	3mo	$87,000	$86	71

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

Projected returns pro-forma

7.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 2.10×
• Total profit: $42,895
• Equity at exit: $99,123

10-year hold

• IRR: 15.1%
• Equity multiple: 4.33×
• Total profit: $130,386
• Equity at exit: $190,294

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 50532

• Home prices YoY: 4.5%
• Active inventory: 3
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $957 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $-125

Break-even live

Break-even rent $1,115

Max offer price $117,810

Occupancy floor —

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 16 events

1. 2026-06-19
   days on market $139,900 Active 22 DOM
2. 2026-06-18
   days on market $139,900 Active 21 DOM
3. 2026-06-17
   days on market $139,900 Active 20 DOM
4. 2026-06-16
   days on market $139,900 Active 19 DOM
5. 2026-06-15
   days on market $139,900 Active 18 DOM
6. 2026-06-14
   days on market $139,900 Active 16 DOM
7. 2026-06-12
   days on market $139,900 Active 15 DOM
8. 2026-06-09
   days on market $139,900 Active 12 DOM
9. 2026-06-08
   days on market $139,900 Active 11 DOM
10. 2026-06-07
    days on market $139,900 Active 10 DOM
11. 2026-06-03
    days on market $139,900 Active 6 DOM
12. 2026-06-02
    days on market $139,900 Active 5 DOM
13. 2026-06-01
    days on market $139,900 Active 4 DOM
14. 2026-05-31
    days on market $139,900 Active 3 DOM
15. 2026-05-30
    days on market $139,900 Active 2 DOM
16. 2026-05-28
    listed $139,900 Active

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$564/yr (+$47/mo · 52.8%)

ⓘ 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: $11,482
• − Mortgage interest: −$7,837
• − Property taxes: −$1,068
• − Insurance: −$700
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$4,070
• Taxable loss: −$4,029
• Est. tax savings @ 24.0%: +$967
• After-tax cash flow: $-534/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: Webster City Community School District
• NCES district ID: 1930630
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 60% ▲ 2.00%
• Median HH income: $45,510
• Composite: 50.65/100
• National rank: #1831
• State rank: #250 of 289 in IA

Livability — Duncombe

• Score: 68/100
• State rank: #458
• US rank: #10067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duncombe, IA
• Population (ZIP): 889

Population outlook (Webster County) Hauer SSP2

• Today (2025): 35,895 people
• By 2030: 35,334 · -1.6%
• By 2040: 34,073 · -5.1%
• By 2050: 33,264 · -7.3%
• By 2075: 32,560 · -9.3%
• By 2100: 30,786 · -14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 9% Black 1%
• Common ancestry: Portuguese 12% Romanian 8% Lithuanian 3%
• Foreign-born: 1% · Vietnam
• Languages at home: 98% English-only · Chinese 1%

Political lean MEDSL · Webster

• 2024 margin: Solid R (+31.2) · D 33.8% · R 65.0% · Other 1.3%
• 2008→2024 swing: -39.7pp toward R · 2008: 8.5pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+24.3 2016: R+21.8 2012: D+5.5 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.24%
• Current HPI: 169.236
• 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

• 2026-05-28 Listed $139,900 IAR

Property tax history

+7.6%/yr

Latest (2025): $1,068 · +13.1% YoY. Source: county tax records.