1322 15th St · Rock Valley, IA 51247

$94,500

2 bd · 1.5 ba · 1,140 sqft · SingleFamily public records · 231 Days on market

Built 1974 7,952 sqft lot $83/sqft · 37% below area Est $151k · 37% under ↓ 5% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +8.8/10.0
• Schools +6.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

Key facts

• 7,952 sq ft lot
• 3 garage spots
• Built 1974

Tags

• TAKEN DOWN TO THE STUDS
• CUSTOM HOME OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 85/100 on livability (#15 in IA, #497 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Rock Valley Community School District (town): math 70% / reading 75% proficiency, ranked #98 of 289 in IA (top 34%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 201 units permitted in Sioux County in 2024 (52 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sioux County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 6.1

CMA / ARV

• ARV (median comp): $151,089
• List price: $94,500
• Delta: -37.45%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1419 11th St St	0.27mi	3/2.0 (+1)	1,019 (-11%)	8mo	$160,000	$157	56

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,180
• Equity at exit: $14,090

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $24,650
• Equity at exit: $8,171

Cash invested: $26,460 (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 51247

• Active inventory: 4
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$496
• Tax from tax record: −$219 /mo · $2,624/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $273

Break-even live

Break-even rent $954

Max offer price $94,500

Occupancy floor 74%

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $94,500 Active 231 DOM
2. 2026-06-17
   days on market $94,500 Active 230 DOM
3. 2026-06-16
   days on market $94,500 Active 229 DOM
4. 2026-06-15
   days on market $94,500 Active 228 DOM
5. 2026-06-13
   days on market $94,500 Active 226 DOM
6. 2026-06-12
   days on market $94,500 Active 225 DOM
7. 2026-06-09
   days on market $94,500 Active 222 DOM
8. 2026-06-08
   days on market $94,500 Active 221 DOM
9. 2026-06-07
   days on market $94,500 Active 220 DOM
10. 2026-06-05
    days on market $94,500 Active 218 DOM
11. 2026-06-04
    pricedays on market $94,500 Active 216 DOM
12. 2026-06-02
    days on market $101,250 Active 215 DOM
13. 2026-06-01
    days on market $101,250 Active 214 DOM
14. 2026-05-31
    days on market $101,250 Active 213 DOM
15. 2026-05-31
    days on market $101,250 Active 212 DOM
16. 2026-04-20
    price $101,250 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

17. 2026-03-20
    price $108,000 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

18. 2026-02-04
    price $114,750 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

19. 2026-01-05
    price $121,500 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

20. 2025-12-01
    price $128,250 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

21. 2025-10-30
    listed $135,000 Active 175-char remark

    Show marketing remark (175 chars)

    This property has been taken down to the studs and is ready for its next owner to bring their vision to life. A perfect opportunity to create a custom home from the ground up.

22. 2018-05-15
    soldstatus $134,000
23. 2016-11-17
    soldstatus $125,500
24. 2012-03-29
    soldstatus $106,500

ⓘ 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: $2,624 · $219/mo
• Projected year-2 tax: $2,624 · $219/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 5/10 Major FEMA zone X (shaded) · 65% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $15,600
• − Mortgage interest: −$5,293
• − Property taxes: −$2,624
• − Insurance: −$472
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$2,749
• Taxable income: $1,965
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $2,809/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: Rock Valley Community School District
• NCES district ID: 1924660
• Math proficiency: 70% ▼ -8.00%
• Reading proficiency: 75% ▬ 0.00%
• Median HH income: $55,437
• Composite: 61.94/100
• National rank: #724
• State rank: #98 of 289 in IA

Livability — Rock Valley

• Score: 85/100
• State rank: #15
• US rank: #497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rock Valley, IA
• Population (ZIP): 5,028

Population outlook (Sioux County) Hauer SSP2

• Today (2025): 35,762 people
• By 2030: 36,317 · +1.6%
• By 2040: 37,204 · +4.0%
• By 2050: 37,990 · +6.2%
• By 2075: 39,504 · +10.5%
• By 2100: 39,809 · +11.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 26% Two or more races 16%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Iranian 42% Romanian 8% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 17%

Political lean MEDSL · Sioux

• 2024 margin: Solid R (+71.1) · D 13.9% · R 85.0% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -62.8pp · 2024: -71.1pp
• All cycles: 2024: R+71.1 2020: R+66.5 2016: R+69.3 2012: R+68.0 2008: R+62.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.71%
• Current HPI: 114.0848
• 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

-4.9% since first listed

9 events — show timeline

• 2026-04-20 Price Changed $101,250 NWIA
• 2026-03-20 Price Changed $108,000 NWIA
• 2026-02-04 Price Changed $114,750 NWIA
• 2026-01-05 Price Changed $121,500 NWIA
• 2025-12-01 Price Changed $128,250 NWIA
• 2025-10-30 Listed $135,000 NWIA
• 2018-05-15 Sold (Public Records) $134,000 Public Records
• 2016-11-17 Sold (Public Records) $125,500 Public Records
• 2012-03-29 Sold (Public Records) $106,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,624 · +2.4% YoY. Source: county tax records.