208 N 3rd St St · Wallingford, IA 51365

$43,900

4 bd · 1.0 ba · 1,569 sqft · SingleFamily public records · 171 Days on market

Built 1889 0.37 ac 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
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

REO Occupied – NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Great Opportunity to own this single-family home built in 1889 featuring 4 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * *

Key facts

• 0.37 acre lot
• Garage
• Built 1889

Property features AI

Exterior

• Parking: Detached carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residential
• Construction: Other construction materials
• Exterior features: Shingle/asphalt roof; Road surface: other; Lot approximately 0.37 acres (132 x 122); Zoned A-R

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Basement (unfinished); No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#536 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Estherville Lincoln Central Community School District (town): math 57% / reading 67% proficiency, ranked #229 of 289 in IA (top 79%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Estherville Lincoln Central Middle School (math 57% / reading 61%, grade B, #193 of 246 statewide, top 78%, 312 students, 53% FRL); Estherville Lincoln Central High School (math 57% / reading 78%, grade B, #186 of 336 statewide, top 57%, 384 students, 47% FRL).
• Market conditions: 3 active listings in the ZIP; 11 units permitted in Emmet County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($304 loan paydown + $2k appreciation (5.4% local appreciation)).
• Emmet County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,632 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 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 1889 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.78% ✓
• Cap rate: 24.06%
• Cash-on-cash: 63.44%
• DSCR: 3.82
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $123,951
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 St James St	0.06mi	4/1.0	1,462 (-7%)	2mo	$115,000	$79	84
120 N 2nd St	0.07mi	5/2.5 (+1)	1,704 (+9%)	21mo	$47,500	$28	54

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

Projected returns pro-forma

5.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 70.6%
• Equity multiple: 5.27×
• Total profit: $52,520
• Equity at exit: $25,930

10-year hold

• IRR: 68.2%
• Equity multiple: 10.97×
• Total profit: $122,602
• Equity at exit: $45,648

Cash invested: $12,292 (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 51365

• Home prices YoY: 3.9%
• Active inventory: 3
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$230
• Tax from tax record: −$65 /mo · $780/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $650

Break-even live

Break-even rent $397

Max offer price $43,900

Occupancy floor 42%

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: $10,975
• Closing costs: $1,317
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $43,900 Active 171 DOM
2. 2026-06-17
   days on market $43,900 Active 170 DOM
3. 2026-06-16
   days on market $43,900 Active 169 DOM
4. 2026-06-15
   days on market $43,900 Active 168 DOM
5. 2026-06-13
   days on market $43,900 Active 166 DOM
6. 2026-06-12
   days on market $43,900 Active 165 DOM
7. 2026-06-09
   days on market $43,900 Active 162 DOM
8. 2026-06-08
   days on market $43,900 Active 161 DOM
9. 2026-06-07
   days on market $43,900 Active 160 DOM
10. 2026-06-05
    days on market $43,900 Active 158 DOM
11. 2026-06-04
    days on market $43,900 Active 156 DOM
12. 2026-06-02
    days on market $43,900 Active 155 DOM
13. 2026-06-01
    days on market $43,900 Active 154 DOM
14. 2026-05-31
    days on market $43,900 Active 153 DOM
15. 2026-05-31
    days on market $43,900 Active 152 DOM
16. 2025-12-29
    listed $43,900 Active
17. 2012-06-15
    soldstatus $64,000

ⓘ 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: $780 · $65/mo
• Projected year-2 tax: $780 · $65/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,633
• − Mortgage interest: −$2,459
• − Property taxes: −$780
• − Insurance: −$220
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,277
• Taxable income: $7,556
• Est. tax owed @ 24.0%: −$1,813
• After-tax cash flow: $5,984/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: Estherville Lincoln Central Community School District
• NCES district ID: 1911070
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 67% ▲ 5.00%
• Median HH income: $46,185
• Composite: 52.33/100
• National rank: #1588
• State rank: #229 of 289 in IA

Livability — Wallingford

• Score: 66/100
• State rank: #536
• US rank: #11976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wallingford, IA
• Population (ZIP): 475

Population outlook (Emmet County) Hauer SSP2

• Today (2025): 9,084 people
• By 2030: 8,626 · -5.0%
• By 2040: 7,751 · -14.7%
• By 2050: 6,991 · -23.0%
• By 2075: 5,854 · -35.6%
• By 2100: 5,563 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Black 8% Two or more races 7%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Portuguese 16% Iranian 5% Scottish 4%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Emmet

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5% · Other 1.0%
• 2008→2024 swing: -48.0pp toward R · 2008: 3.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+36.0 2016: R+37.5 2012: R+8.9 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.39%
• Current HPI: 143.7335
• 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

-31.4% since first listed

2 events — show timeline

• 2025-12-29 Listed $43,900 NEIRBR as distributed by MLS GRID
• 2012-06-15 Sold (Public Records) $64,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $780 · +8.3% YoY. Source: county tax records.