1804 N 2nd Ave · Denison, IA 51442

$38,013

2 bd · 1.0 ba · 840 sqft · SingleFamily public records

Built 1948 10,010 sqft lot ↓ 31% since listing

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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
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch house in great neighborhood in Denison. Small town living affordably! Property needs TLC. Large corner lot, detached garage, great potential! Chek it out today, priced to sell! Sold As-Is.

Key facts

• 0.23 acre lot
• Garage
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $38k).
• Cap rate 16.5% vs local median 3.5% in Denison — 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.

Location & tenants

• Location reads 79/100 on livability (#103 in IA, #2,053 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Denison Community School District (town): math 61% / reading 64% proficiency, ranked #224 of 289 in IA (top 78%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Denison Elementary School (math 47% / reading 32%, grade F, #579 of 616 statewide, top 95%, 676 students, 60% FRL); Denison Middle School (math 63% / reading 70%, grade A-, #148 of 246 statewide, top 61%, 502 students, 66% FRL); Denison High School (math 59% / reading 69%, grade B-, #235 of 336 statewide, top 71%, 786 students, 59% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 50 active listings in the ZIP; 18 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Crawford County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,013

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.26% ✓
• Cap rate: 16.52%
• Cash-on-cash: 36.54%
• DSCR: 2.63
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $120,120
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 16th St N	0.16mi	2/1.0	858 (+2%)	17mo	$124,500	$145	75
1615 4th Ave N	0.17mi	2/1.0	780 (-7%)	14mo	$71,500	$92	69
616 N 18th St	0.37mi	2/1.0	960 (+14%)	8mo	$155,000	$161	52
20 S 17th St	0.22mi	1/1.0 (-1)	736 (-12%)	15mo	$105,000	$143	52
62 A Ave	0.72mi	2/1.0	920 (+10%)	5mo	$85,000	$92	46

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

Projected returns pro-forma

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

5-year hold

• IRR: 32.4%
• Equity multiple: 2.37×
• Total profit: $14,549
• Equity at exit: $5,668

10-year hold

• IRR: 39.5%
• Equity multiple: 4.71×
• Total profit: $39,528
• Equity at exit: $3,287

Cash invested: $10,644 (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 51442

• Home prices YoY: -21.4%
• Active inventory: 50
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $859 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $324

Break-even live

Break-even rent $449

Max offer price $38,013

Occupancy floor 57%

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: $9,503
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2023-08-25
   status Pending
2. 2023-08-18
   historical
3. 2017-07-10
   soldstatus $38,100 199-char remark

   Show marketing remark (199 chars)

   Ranch house in great neighborhood in Denison. Small town living affordably! Property needs TLC. Large corner lot, detached garage, great potential! Chek it out today, priced to sell! Sold As-Is.

4. 2017-05-11
   historical
5. 2017-04-25
   listed $38,013

   Show marketing remark (199 chars)

   Ranch house in great neighborhood in Denison. Small town living affordably! Property needs TLC. Large corner lot, detached garage, great potential! Chek it out today, priced to sell! Sold As-Is.

6. 2017-04-25
   listed $38,013 199-char remark

   Show marketing remark (199 chars)

   Ranch house in great neighborhood in Denison. Small town living affordably! Property needs TLC. Large corner lot, detached garage, great potential! Chek it out today, priced to sell! Sold As-Is.

7. 2008-11-12
   soldstatus $63,600
8. 2007-05-15
   soldstatus $55,000

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,670 · $139/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,305
• − Mortgage interest: −$2,129
• − Property taxes: −$1,670
• − Insurance: −$190
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,106
• Taxable income: $3,561
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,034/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: Denison Community School District
• NCES district ID: 1908910
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 64% ▲ 3.00%
• Median HH income: $45,505
• Composite: 52.71/100
• National rank: #1550
• State rank: #224 of 289 in IA

Livability — Denison

• Score: 79/100
• State rank: #103
• US rank: #2053

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Denison, IA
• City population: 9,586
• Population (ZIP): 9,586

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 17,186 people
• By 2030: 17,322 · +0.8%
• By 2040: 17,948 · +4.4%
• By 2050: 18,955 · +10.3%
• By 2075: 22,130 · +28.8%
• By 2100: 25,483 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 48% Hispanic / Latino 43% Two or more races 21% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 3% Ukrainian 2% Iranian 1%
• Foreign-born: 24% · Canada, Philippines, South Korea
• Languages at home: 59% English-only · Spanish 36% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+43.5) · D 27.8% · R 71.3%
• 2008→2024 swing: -48.6pp toward R · 2008: 5.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+36.8 2016: R+38.2 2012: R+8.2 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.48%
• Current HPI: 185.0169
• 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

-30.7% since first listed

8 events — show timeline

• 2023-08-25 Pending — SWIAR
• 2023-08-18 Delisted — SWIAR
• 2017-07-10 Sold (MLS) $38,100 GPRMLS
• 2017-05-11 Delisted — SWIAR
• 2017-04-25 Listed $38,013 GPRMLS
• 2017-04-25 Listed $38,013 SWIAR
• 2008-11-12 Sold (Public Records) $63,600 Public Records
• 2007-05-15 Sold (Public Records) $55,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,670 · +2.1% YoY. Source: county tax records.