123 1st Ave · Waucoma, IA 52171

$69,500

3 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 68 Days on market

Built 2003 6,600 sqft lot $39/sqft · 56% below area

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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 +6.3/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 bedroom, 2 bath home with over 1,700 sq ft of living space on the main level. Full basement is partially finished and features egress windows, offering great potential for additional bedrooms or family room. Main floor laundry and a deck perfect for relaxing and enjoying quiet evenings. This home is ready for your finishing touches and updates. This home is being sold "as is" condition with no warranties expressed or implied.

Key facts

• 6,600 sq ft lot
• Built 2003
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#594 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Turkey Valley Community School District (rural): math 71% / reading 78% proficiency, ranked #82 of 289 in IA (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Turkey Valley Elementary School (math 92% / reading 82%, grade A+, #16 of 616 statewide, top 3%, 192 students, 36% FRL); Turkey Valley Jr-Sr High School (math 62% / reading 77%, grade B, #152 of 336 statewide, top 52%, 183 students, 38% FRL) — zoned schools average 37% FRL vs 16% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($481 loan paydown + $2k appreciation (3.0% local appreciation)).
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $65,329 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.75% ✓
• Cap rate: 13.85%
• Cash-on-cash: 27.00%
• DSCR: 2.20
• GRM: 4.8

CMA / ARV

• ARV (median comp): $156,436
• List price: $69,500
• Delta: -55.57%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.0%
• Equity multiple: 2.87×
• Total profit: $36,301
• Equity at exit: $31,250

10-year hold

• IRR: 33.3%
• Equity multiple: 5.64×
• Total profit: $90,219
• Equity at exit: $48,160

Cash invested: $19,460 (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 52171

• Active inventory: 3
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$128 /mo · $1,536/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $438

Break-even live

Break-even rent $660

Max offer price $69,500

Occupancy floor 59%

Sensitivity live

Price	-10% $477	-5% $457	+0% $438	+5% $418	+10% $398
Rent	-10% $342	-5% $390	+0% $438	+5% $486	+10% $534
Rate	-1.0pp $473	-0.5pp $456	base $438	+0.5pp $420	+1.0pp $401

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $69,500 Active 68 DOM
2. 2026-06-21
   days on market $69,500 Active 67 DOM
3. 2026-06-18
   days on market $69,500 Active 65 DOM
4. 2026-06-17
   days on market $69,500 Active 64 DOM
5. 2026-06-16
   days on market $69,500 Active 63 DOM
6. 2026-06-15
   days on market $69,500 Active 62 DOM
7. 2026-06-13
   days on market $69,500 Active 60 DOM
8. 2026-06-12
   days on market $69,500 Active 59 DOM
9. 2026-06-09
   days on market $69,500 Active 56 DOM
10. 2026-06-08
    days on market $69,500 Active 55 DOM
11. 2026-06-07
    days on market $69,500 Active 54 DOM
12. 2026-06-07
    pricedays on market $69,500 Active 53 DOM
13. 2026-06-04
    days on market $79,500 Active 50 DOM
14. 2026-06-02
    days on market $79,500 Active 49 DOM
15. 2026-06-01
    days on market $79,500 Active 48 DOM
16. 2026-05-31
    days on market $79,500 Active 47 DOM
17. 2026-05-31
    days on market $79,500 Active 46 DOM
18. 2026-05-15
    price $79,500 441-char remark

    Show marketing remark (441 chars)

    3 bedroom, 2 bath home with over 1,700 sq ft of living space on the main level. Full basement is partially finished and features egress windows, offering great potential for additional bedrooms or family room. Main floor laundry and a deck perfect for relaxing and enjoying quiet evenings. This home is ready for your finishing touches and updates. This home is being sold "as is" condition with no warranties expressed or implied.

19. 2026-04-14
    listed $89,500 Active 441-char remark

    Show marketing remark (441 chars)

    3 bedroom, 2 bath home with over 1,700 sq ft of living space on the main level. Full basement is partially finished and features egress windows, offering great potential for additional bedrooms or family room. Main floor laundry and a deck perfect for relaxing and enjoying quiet evenings. This home is ready for your finishing touches and updates. This home is being sold "as is" condition with no warranties expressed or implied.

20. 2023-08-14
    soldstatus $60,000

ⓘ 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: $1,536 · $128/mo
• Projected year-2 tax: $1,536 · $128/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $14,571
• − Mortgage interest: −$3,893
• − Property taxes: −$1,536
• − Insurance: −$348
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$2,022
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,188/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: Turkey Valley Community School District
• NCES district ID: 1928110
• Math proficiency: 71% ▲ 6.00%
• Reading proficiency: 78% ▲ 13.00%
• Median HH income: $48,496
• Composite: 62.93/100
• National rank: #657
• State rank: #82 of 289 in IA

Livability — Waucoma

• Score: 65/100
• State rank: #594
• US rank: #13577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waucoma, IA
• Population (ZIP): 1,172

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 10% Slovak 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+32.5% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $79,500 NEIRBR as distributed by MLS GRID
• 2026-04-14 Listed $89,500 NEIRBR as distributed by MLS GRID
• 2023-08-14 Sold (Public Records) $60,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,536 · +14.1% YoY. Source: county tax records.