1000 E Corning St · Red Oak, IA 51566

$80,000

3 bd · 1.0 ba · 1,890 sqft · SingleFamily public records · 143 Days on market

Built 1918 8,276 sqft lot $42/sqft · 52% below area Est $148k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this classic Red Oak charmer! This 3-bedroom, 1.5-bath home is full of character you just don’t find anymore—from beautiful original woodwork to hardwood floors and an inviting open staircase. The layout offers plenty of space to spread out throughout. Out back, enjoy a private deck perfect for summer evenings and a roomy yard with lots of potential. Located in a quiet east-side neighborhood, this home is a great fit for anyone looking for comfort, charm, and value. Call your agent for immediate showing!

Key facts

• Private deck
• Original woodwork
• Roomy yard

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• PRIVATE DECK
• ROOMY YARD
• QUIET EAST-SIDE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/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: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.6% in Red Oak — 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 68/100 on livability (#428 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Red Oak Community School District (town): math 58% / reading 59% proficiency, ranked #255 of 289 in IA (top 88%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 56 active listings in the ZIP; 13 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -20% 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1918 — 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. 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: 1.71% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.11%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $148,138
• List price: $80,000
• Delta: -46.00%
• 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
1012 E Corning St	0.07mi	2/2.0 (-1)	1,800 (-5%)	0mo	$130,000	$72	80
1010 N 6th St	0.30mi	3/2.0	1,874 (-1%)	3mo	$143,000	$76	78
210 N 8th St	0.32mi	3/2.0	1,732 (-8%)	5mo	$50,000	$29	63
207 E Joy St	0.48mi	3/2.0	1,760 (-7%)	4mo	$122,500	$70	59
701 E Oak St	0.44mi	4/3.0 (+1)	1,968 (+4%)	9mo	$165,000	$84	52
306 Maple St	0.52mi	4/2.0 (+1)	1,810 (-4%)	10mo	$138,500	$77	52
8 Shaun Cir	0.72mi	4/2.0 (+1)	1,924 (+2%)	4mo	$254,000	$132	52
1213 Circle Dr	0.43mi	3/2.0	1,712 (-9%)	11mo	$188,000	$110	51
1209 Miller Ave	0.32mi	3/2.0	1,644 (-13%)	12mo	$189,000	$115	50
107 E Reed St	0.55mi	2/2.0 (-1)	1,648 (-13%)	9mo	$24,000	$15	36
502 High St	0.66mi	4/2.0 (+1)	1,626 (-14%)	2mo	$175,000	$108	35
3 Shaun Cir	0.70mi	3/2.5	1,634 (-14%)	5mo	$315,000	$193	34

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: 22.3%
• Equity multiple: 1.91×
• Total profit: $20,480
• Equity at exit: $11,928

10-year hold

• IRR: 30.3%
• Equity multiple: 3.72×
• Total profit: $60,956
• Equity at exit: $6,917

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 51566

• Home prices YoY: -33.3%
• Active inventory: 56
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $525

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 57%

Sensitivity live

Price	-10% $580	-5% $552	+0% $525	+5% $497	+10% $469
Rent	-10% $417	-5% $471	+0% $525	+5% $579	+10% $633
Rate	-1.0pp $565	-0.5pp $545	base $525	+0.5pp $504	+1.0pp $483

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 28 events

1. 2026-06-21
   days on market $80,000 Active 143 DOM
2. 2026-06-18
   days on market $80,000 Active 141 DOM
3. 2026-06-17
   days on market $80,000 Active 140 DOM
4. 2026-06-16
   days on market $80,000 Active 139 DOM
5. 2026-06-15
   days on market $80,000 Active 138 DOM
6. 2026-06-13
   days on market $80,000 Active 136 DOM
7. 2026-06-12
   days on market $80,000 Active 135 DOM
8. 2026-06-09
   days on market $80,000 Active 132 DOM
9. 2026-06-09
   price $80,000 Active 131 DOM
10. 2026-06-08
    days on market $85,000 Active 131 DOM
11. 2026-06-07
    days on market $85,000 Active 130 DOM
12. 2026-06-05
    days on market $85,000 Active 128 DOM
13. 2026-06-04
    days on market $85,000 Active 126 DOM
14. 2026-06-02
    days on market $85,000 Active 125 DOM
15. 2026-06-01
    days on market $85,000 Active 124 DOM
16. 2026-05-31
    days on market $85,000 Active 123 DOM
17. 2026-05-31
    days on market $85,000 Active 122 DOM
18. 2026-05-13
    price $85,000 538-char remark

    Show marketing remark (538 chars)

    Welcome home to this classic Red Oak charmer! This 3-bedroom, 1.5-bath home is full of character you just don’t find anymore—from beautiful original woodwork to hardwood floors and an inviting open staircase. The layout offers plenty of space to spread out throughout. Out back, enjoy a private deck perfect for summer evenings and a roomy yard with lots of potential. Located in a quiet east-side neighborhood, this home is a great fit for anyone looking for comfort, charm, and value. Call your agent for immediate showing!

19. 2026-04-02
    price $90,000 538-char remark

    Show marketing remark (538 chars)

    Welcome home to this classic Red Oak charmer! This 3-bedroom, 1.5-bath home is full of character you just don’t find anymore—from beautiful original woodwork to hardwood floors and an inviting open staircase. The layout offers plenty of space to spread out throughout. Out back, enjoy a private deck perfect for summer evenings and a roomy yard with lots of potential. Located in a quiet east-side neighborhood, this home is a great fit for anyone looking for comfort, charm, and value. Call your agent for immediate showing!

20. 2026-03-03
    price $95,000 538-char remark

    Show marketing remark (538 chars)

    Welcome home to this classic Red Oak charmer! This 3-bedroom, 1.5-bath home is full of character you just don’t find anymore—from beautiful original woodwork to hardwood floors and an inviting open staircase. The layout offers plenty of space to spread out throughout. Out back, enjoy a private deck perfect for summer evenings and a roomy yard with lots of potential. Located in a quiet east-side neighborhood, this home is a great fit for anyone looking for comfort, charm, and value. Call your agent for immediate showing!

21. 2026-01-28
    listed $100,000 Active 538-char remark

    Show marketing remark (538 chars)

    Welcome home to this classic Red Oak charmer! This 3-bedroom, 1.5-bath home is full of character you just don’t find anymore—from beautiful original woodwork to hardwood floors and an inviting open staircase. The layout offers plenty of space to spread out throughout. Out back, enjoy a private deck perfect for summer evenings and a roomy yard with lots of potential. Located in a quiet east-side neighborhood, this home is a great fit for anyone looking for comfort, charm, and value. Call your agent for immediate showing!

22. 2017-03-21
    soldstatus $94,500 450-char remark

    Show marketing remark (450 chars)

    This well-kept traditional home has had numerous updates, with new paint, new main floor half bath, a walk-in shower added to the second floor bath, new water heater, water softner and new front steps. The 2nd floor laundry room is conveniently located just off the main bath on the 2nd floor and great insulation throughout. Lots of original charm in the open staircase, original woodwork and hardwood flooring, plus a lovely rear deck for relaxing!

23. 2017-03-21
    soldstatus $94,500 450-char remark

    Show marketing remark (450 chars)

    This well-kept traditional home has had numerous updates, with new paint, new main floor half bath, a walk-in shower added to the second floor bath, new water heater, water softner and new front steps. The 2nd floor laundry room is conveniently located just off the main bath on the 2nd floor and great insulation throughout. Lots of original charm in the open staircase, original woodwork and hardwood flooring, plus a lovely rear deck for relaxing!

24. 2017-03-21
    soldstatus $94,250

    Show marketing remark (450 chars)

    This well-kept traditional home has had numerous updates, with new paint, new main floor half bath, a walk-in shower added to the second floor bath, new water heater, water softner and new front steps. The 2nd floor laundry room is conveniently located just off the main bath on the 2nd floor and great insulation throughout. Lots of original charm in the open staircase, original woodwork and hardwood flooring, plus a lovely rear deck for relaxing!

25. 2016-06-02
    listed $105,000 450-char remark

    Show marketing remark (450 chars)

    This well-kept traditional home has had numerous updates, with new paint, new main floor half bath, a walk-in shower added to the second floor bath, new water heater, water softner and new front steps. The 2nd floor laundry room is conveniently located just off the main bath on the 2nd floor and great insulation throughout. Lots of original charm in the open staircase, original woodwork and hardwood flooring, plus a lovely rear deck for relaxing!

26. 2016-06-02
    listed $105,000 450-char remark

    Show marketing remark (450 chars)

    This well-kept traditional home has had numerous updates, with new paint, new main floor half bath, a walk-in shower added to the second floor bath, new water heater, water softner and new front steps. The 2nd floor laundry room is conveniently located just off the main bath on the 2nd floor and great insulation throughout. Lots of original charm in the open staircase, original woodwork and hardwood flooring, plus a lovely rear deck for relaxing!

27. 2003-11-18
    soldstatus $56,000
28. 2003-08-01
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°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: $16,369
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$2,327
• Taxable income: $5,342
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $5,015/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: Red Oak Community School District
• NCES district ID: 1924000
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $38,902
• Composite: 48.77/100
• National rank: #2092
• State rank: #255 of 289 in IA

Livability — Red Oak

• Score: 68/100
• State rank: #428
• US rank: #9239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Oak, IA
• City population: 7,004
• Population (ZIP): 7,004

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 9,518 people
• By 2030: 9,116 · -4.2%
• By 2040: 8,303 · -12.8%
• By 2050: 7,595 · -20.2%
• By 2075: 6,568 · -31.0%
• By 2100: 5,800 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 1% Asian 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+39.1) · D 29.8% · R 68.9% · Other 1.3%
• 2008→2024 swing: -28.5pp toward R · 2008: -10.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+39.0 2016: R+42.4 2012: R+21.6 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.42%
• Current HPI: 187.1643
• 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

+41.9% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $85,000 IAR
• 2026-04-02 Price Changed $90,000 IAR
• 2026-03-03 Price Changed $95,000 IAR
• 2026-01-28 Listed $100,000 IAR
• 2017-03-21 Sold (Public Records) $94,250 Public Records
• 2017-03-21 Sold (MLS) $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-21 Sold (MLS) $94,500 IAR
• 2016-06-02 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-02 Listed $105,000 IAR
• 2003-11-18 Sold (MLS) $56,000 SWIAR
• 2003-08-01 Listed $59,900 SWIAR

Property tax history

+8.6%/yr

Latest (2025): $4,459 · +62.2% YoY. Source: county tax records.