109 S 5th St. St · Mallard, IA 50562

$64,900

3 bd · 2.0 ba · 1,387 sqft · SingleFamily public records · 150 Days on market

Built 1900 9,750 sqft lot $47/sqft · 21% above area Est $54k · 21% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Appreciation +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

This is a great starter home in a smaller but younger community with a friendly and big heart. Everyone is helpful and ready to help out. There is 4 larger towns surrounded Mallard. There is Pocahontas, West Bend, Emmetsburg, & Laurens Right in the middle of the hub of the area.

Key facts

• 9,750 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#461 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• West Bend-Mallard Community School District (rural): math 71% / reading 82% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($449 loan paydown + $699 appreciation (1.1% local appreciation)).
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% 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: 2.13% ✓
• Cap rate: 18.98%
• Cash-on-cash: 45.31%
• DSCR: 3.02
• GRM: 3.9

CMA / ARV

• ARV (median comp): $53,764
• List price: $64,900
• Delta: 20.71%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S 4th St	0.06mi	3/1.0	1,353 (-2%)	18mo	$46,000	$34	75

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

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.48×
• Total profit: $45,153
• Equity at exit: $22,415

10-year hold

• IRR: 49.6%
• Equity multiple: 6.95×
• Total profit: $108,061
• Equity at exit: $29,988

Cash invested: $18,172 (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 50562

• Home prices YoY: 1.0%
• Active inventory: 4
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$41 /mo · $490/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $686

Break-even live

Break-even rent $517

Max offer price $64,900

Occupancy floor 45%

Sensitivity live

Price	-10% $723	-5% $704	+0% $686	+5% $668	+10% $649
Rent	-10% $577	-5% $631	+0% $686	+5% $741	+10% $796
Rate	-1.0pp $719	-0.5pp $703	base $686	+0.5pp $669	+1.0pp $652

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $64,900 Active 150 DOM
2. 2026-06-18
   days on market $64,900 Active 148 DOM
3. 2026-06-17
   days on market $64,900 Active 147 DOM
4. 2026-06-16
   days on market $64,900 Active 146 DOM
5. 2026-06-15
   days on market $64,900 Active 145 DOM
6. 2026-06-13
   days on market $64,900 Active 143 DOM
7. 2026-06-12
   days on market $64,900 Active 142 DOM
8. 2026-06-09
   days on market $64,900 Active 139 DOM
9. 2026-06-08
   days on market $64,900 Active 138 DOM
10. 2026-06-07
    days on market $64,900 Active 137 DOM
11. 2026-06-04
    days on market $64,900 Active 133 DOM
12. 2026-06-02
    days on market $64,900 Active 132 DOM
13. 2026-06-01
    days on market $64,900 Active 131 DOM
14. 2026-05-31
    days on market $64,900 Active 130 DOM
15. 2026-01-21
    listed $64,900 Active 285-char remark

    Show marketing remark (285 chars)

    This is a great starter home in a smaller but younger community with a friendly and big heart. Everyone is helpful and ready to help out. There is 4 larger towns surrounded Mallard. There is Pocahontas, West Bend, Emmetsburg, & Laurens Right in the middle of the hub of the area.

ⓘ 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: $490 · $41/mo
• Projected year-2 tax: $754 · $63/mo
• Expected delta: +$264/yr (+$22/mo · 54.0%)

ⓘ 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: $16,623
• − Mortgage interest: −$3,635
• − Property taxes: −$490
• − Insurance: −$324
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$1,888
• Taxable income: $7,625
• Est. tax owed @ 24.0%: −$1,830
• After-tax cash flow: $6,403/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: West Bend-Mallard Community School District
• NCES district ID: 1930720
• Math proficiency: 71% ▲ 1.00%
• Reading proficiency: 82% ▲ 7.00%
• Median HH income: $45,858
• Composite: 64.32/100
• National rank: #554
• State rank: #64 of 289 in IA

Livability — Mallard

• Score: 67/100
• State rank: #461
• US rank: #10171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mallard, IA
• Population (ZIP): 346

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Portuguese 9% Serbian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.08%
• Current HPI: 113.6462
• 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

• 2026-01-21 Listed $64,900 IAR

Property tax history

+8.1%/yr

Latest (2025): $490 · +0.2% YoY. Source: county tax records.