702 W Locust St · Ogden, IA 50212

$80,000

3 bd · 2.5 ba · 1,804 sqft · SingleFamily public records · 49 Days on market

Built 1979 0.40 ac lot $44/sqft · 63% below area

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 3-bedroom, 2-bath ranch offering incredible potential! This investor special features a large layout with two separate living areas, a generously sized kitchen, and a large garage that includes a bonus space perfect for a workshop, storage, or future conversion. With solid bones and plenty of square footage, this property is ready for your vision. Updates include a new metal roof in July of 2021 and a new furnace and A/C in July of 2015. Don't miss this opportunity to build equity!

Key facts

• New metal roof
• New furnace
• Large layout

Tags

• LARGE LAYOUT
• TWO SEPARATE LIVING AREAS
• GENEROUSLY SIZED KITCHEN
• BONUS SPACE
• NEW METAL ROOF
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.8% in Ogden — 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 81/100 on livability (#70 in IA, #1,530 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Ogden Community School District (rural): math 74% / reading 77% proficiency, ranked #61 of 289 in IA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 31 active listings in the ZIP; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($553 loan paydown + $8k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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 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?
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.19%
• DSCR: 1.94
• GRM: 5.3

CMA / ARV

• ARV (median comp): $217,395
• List price: $80,000
• Delta: -63.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 W Locust St	0.00mi	3/2.0	1,804 (0%)	0mo	$72,000	$40	98
107 SW 8th St	0.11mi	3/3.5	1,738 (-4%)	10mo	$410,000	$236	76
714 W Sycamore St	0.06mi	4/2.0 (+1)	1,704 (-6%)	9mo	$186,665	$110	73
513 W Maple St	0.21mi	3/1.5	1,922 (+6%)	12mo	$126,108	$66	65
107 SW 2nd St	0.39mi	4/2.0 (+1)	1,880 (+4%)	7mo	$59,900	$32	62
214 N 1st St	0.43mi	4/1.0 (+1)	1,683 (-7%)	1mo	$135,000	$80	57
534 SW 5th St	0.56mi	4/3.5 (+1)	1,804 (0%)	11mo	$420,000	$233	56
308 E Walnut St	0.62mi	3/1.0	2,008 (+11%)	1mo	$118,000	$59	46
631 W Division St	0.35mi	4/2.0 (+1)	1,562 (-13%)	13mo	$267,000	$171	44
244 SE 4th St	0.72mi	3/2.0	2,016 (+12%)	4mo	$220,000	$109	42
201 SE 2nd St	0.54mi	2/2.0 (-1)	1,544 (-14%)	4mo	$205,000	$133	40
219 S 1st St	0.48mi	4/2.0 (+1)	1,536 (-15%)	9mo	$220,000	$143	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 4.07×
• Total profit: $68,819
• Equity at exit: $72,070

10-year hold

• IRR: 34.6%
• Equity multiple: 9.17×
• Total profit: $182,944
• Equity at exit: $155,422

Cash invested: $22,400 (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 50212

• Home prices YoY: 5.1%
• Active inventory: 31
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$151 /mo · $1,808/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $396

Break-even live

Break-even rent $764

Max offer price $80,000

Occupancy floor 64%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-12
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Spacious 3-bedroom, 2-bath ranch offering incredible potential! This investor special features a large layout with two separate living areas, a generously sized kitchen, and a large garage that includes a bonus space perfect for a workshop, storage, or future conversion. With solid bones and plenty of square footage, this property is ready for your vision. Updates include a new metal roof in July of 2021 and a new furnace and A/C in July of 2015. Don't miss this opportunity to build equity!

2. 2026-04-28
   status Pending 519-char remark

   Show marketing remark (519 chars)

   Spacious 3-bedroom, 2-bath ranch offering incredible potential! This investor special features a large layout with two separate living areas, a generously sized kitchen, a large backyard, and an oversized garage that includes a bonus space perfect for a workshop, storage, or future conversion. With solid bones and plenty of square footage, this property is ready for your vision. Updates include a new metal roof in July of 2021 and a new furnace and A/C in July of 2015. Don't miss this opportunity to build equity!

3. 2026-03-24
   listed $80,000 Active 519-char remark

   Show marketing remark (496 chars)

   Spacious 3-bedroom, 2-bath ranch offering incredible potential! This investor special features a large layout with two separate living areas, a generously sized kitchen, and a large garage that includes a bonus space perfect for a workshop, storage, or future conversion. With solid bones and plenty of square footage, this property is ready for your vision. Updates include a new metal roof in July of 2021 and a new furnace and A/C in July of 2015. Don't miss this opportunity to build equity!

4. 2026-03-24
   listed $80,000 Active 496-char remark

   Show marketing remark (496 chars)

   Spacious 3-bedroom, 2-bath ranch offering incredible potential! This investor special features a large layout with two separate living areas, a generously sized kitchen, and a large garage that includes a bonus space perfect for a workshop, storage, or future conversion. With solid bones and plenty of square footage, this property is ready for your vision. Updates include a new metal roof in July of 2021 and a new furnace and A/C in July of 2015. Don't miss this opportunity to build equity!

ⓘ 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: $1,808 · $151/mo
• Projected year-2 tax: $1,808 · $151/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $15,177
• − Mortgage interest: −$4,481
• − Property taxes: −$1,808
• − Insurance: −$400
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$2,327
• Taxable income: $3,732
• Est. tax owed @ 24.0%: −$896
• After-tax cash flow: $3,852/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: Ogden Community School District
• NCES district ID: 1921660
• Math proficiency: 74% ▼ -9.00%
• Reading proficiency: 77% ▼ -7.00%
• Median HH income: $56,714
• Composite: 64.56/100
• National rank: #536
• State rank: #61 of 289 in IA

Livability — Ogden

• Score: 81/100
• State rank: #70
• US rank: #1530

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: Ogden, IA
• Population (ZIP): 3,109

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Iranian 6% Portuguese 6% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.76%
• Current HPI: 263.0
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-12 Pending — DMMLS
• 2026-04-28 Pending — CIBOR
• 2026-03-24 Listed $80,000 CIBOR
• 2026-03-24 Listed $80,000 DMMLS

Property tax history

+1.2%/yr

Latest (2025): $1,808 · +0.4% YoY. Source: county tax records.