303 N Oak St St

Inwood, IA 51240

$149,000C-

4 bd · 2.5 ba · 1,645 sqft · Built 1900 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,283/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $2/mo
• Annual: $20/yr
• Cap rate: 6.31%
• Cash-on-cash: 0.05%
• DSCR: 1.00
• 1% rule: 0.86%
• Cash to close: $41,720

Investor read

• This is a 4-bed/2.5-bath single-family listed at $149k.
• At list price, monthly cash flow is $2 ($20/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 $128k (13.9% below list).
• It's been on market 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (13.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#411 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• West Lyon Community School District (rural): math 86% / reading 83% proficiency, ranked #13 of 289 in IA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: West Lyon Elementary School (math 85% / reading 85%, grade A+, #30 of 616 statewide, top 5%, 556 students, 28% FRL); West Lyon Junior High School (math 87% / reading 72%, grade A+, #35 of 246 statewide, top 16%, 133 students, 29% FRL); West Lyon High School (math 89% / reading 88%, grade A, #3 of 336 statewide, top 1%, 307 students, 21% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 54 units permitted in Lyon County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 3y 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.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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.