2434 Elm Dr Dr

Coalville, IA 50501

$76,728C+

3 bd · 1.5 ba · 1,496 sqft · Built 1975 · SingleFamily · Pending · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,173/mo
• Mortgage (P&I): −$402
• Tax + insurance: −$181
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $343/mo
• Annual: $4,120/yr
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• 1% rule: 1.53%
• Cash to close: $21,484

Investor read

• This is a 3-bed/1.5-bath single-family listed at $77k.
• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• It's been on market 154 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $530 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#539 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Fort Dodge Community School District (town): math 44% / reading 53% proficiency, ranked #285 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 25 units permitted in Webster County in 2024 (0 in 5+ unit buildings).
• Webster County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.