124 N Willard St · Ottumwa, IA 52501

$109,000

2 bd · 1.0 ba · 1,799 sqft · SingleFamily public records · 16 Days on market

Built 1920 4,356 sqft lot Est $158k · 31% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

What a find! A beautiful and affordable move-in ready bungalow home. Very clean and 2 levels of comfortable living. 2 BR's on the main level and one very large BR upstairs. A full BR on each level. Kitchen appliances and W/ D convey. A nice open front porch and an enclosed porch in the rear. A tuck under garage with access in the back.

Key facts

• Move-in ready
• Tuck under garage
• Open front porch

Tags

• MOVE-IN READY
• OPEN FRONT PORCH
• ENCLOSED PORCH
• TUCK UNDER GARAGE

Property features AI

Exterior

• Parking: 1-car garage (basement access)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Basement; Lot approximately 0.1 acres (33 x 132)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $107k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.6% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Evans Middle School (math 45% / reading 53%, grade C-, #219 of 246 statewide, top 90%, 1,047 students, 46% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 191 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,365 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.11% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $158,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 Hamilton St	0.13mi	3/2.0 (+1)	1,716 (-5%)	8mo	$151,000	$88	71
121 N Weller St. St	0.35mi	2/2.0	1,794 (-0%)	23mo	$124,500	$69	60
426 W Wilson St	0.28mi	3/2.0 (+1)	1,680 (-7%)	17mo	$122,000	$73	52
504 S Ward St	0.58mi	3/2.0 (+1)	1,946 (+8%)	2mo	$165,000	$85	48
109 S Ferry Fry	0.51mi	2/1.0	1,600 (-11%)	14mo	$80,505	$50	46
717 E Williams St	0.58mi	3/2.0 (+1)	1,626 (-10%)	5mo	$160,000	$98	44
301 Hamilton St	0.09mi	3/2.5 (+1)	1,570 (-13%)	23mo	$183,500	$117	44
421 & 433 S Ferry	0.63mi	3/2.0 (+1)	1,765 (-2%)	18mo	$247,000	$140	44
513 S Ransom St	0.62mi	2/1.0	1,568 (-13%)	11mo	$125,000	$80	41
911 S Sheridan Ave	0.66mi	2/2.0	1,986 (+10%)	13mo	$205,000	$103	37
515 N Pocahontas St	0.66mi	2/1.0	1,560 (-13%)	14mo	$86,500	$55	36
1110 Chester Ave	0.72mi	3/2.0 (+1)	1,576 (-12%)	10mo	$233,000	$148	28

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,763
• Equity at exit: $16,252

10-year hold

• IRR: 8.1%
• Equity multiple: 1.62×
• Total profit: $18,902
• Equity at exit: $9,424

Cash invested: $30,520 (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 52501

• Active inventory: 191
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $250

Break-even live

Break-even rent $889

Max offer price $109,000

Occupancy floor 74%

Sensitivity live

Price	-10% $312	-5% $281	+0% $250	+5% $219	+10% $188
Rent	-10% $155	-5% $202	+0% $250	+5% $297	+10% $345
Rate	-1.0pp $305	-0.5pp $278	base $250	+0.5pp $222	+1.0pp $193

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $109,000 Active 16 DOM
2. 2026-06-21
   days on market $109,000 Active 15 DOM
3. 2026-06-21
   days on market $109,000 Active 14 DOM
4. 2026-06-18
   days on market $109,000 Active 12 DOM
5. 2026-06-17
   days on market $109,000 Active 11 DOM
6. 2026-06-16
   days on market $109,000 Active 10 DOM
7. 2026-06-15
   days on market $109,000 Active 9 DOM
8. 2026-06-13
   days on market $109,000 Active 7 DOM
9. 2026-06-12
   days on market $109,000 Active 6 DOM
10. 2026-06-09
    days on market $109,000 Active 3 DOM
11. 2026-06-08
    days on market $109,000 Active 2 DOM
12. 2026-06-07
    remarks 338-char remark
13. 2026-06-07
    listed $109,000 Active 1 DOM

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,368 · $114/mo
• Expected delta: +$344/yr (+$29/mo · 33.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,464
• − Mortgage interest: −$6,106
• − Property taxes: −$1,024
• − Insurance: −$545
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,171
• Taxable income: $1,304
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $2,685/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+37.1% since first listed

2 events — show timeline

• 2026-06-06 Listed $109,000 IAR
• 2018-10-23 Listed $79,500 IAR

Property tax history

-0.8%/yr

Latest (2025): $1,024 · -6.9% YoY. Source: county tax records.