2251 Albert St · Ocheyedan, IA 51354

$50,000

2 bd · 1.0 ba · 989 sqft · SingleFamily public records · 24 Days on market

Built 1895 0.37 ac lot Est $68k · 27% under

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Why this score? — see what drove the A 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
• Appreciation +6.1/10.0
• Schools +6.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to small-town living in May City! This 2 bedroom, 1 bathroom home is full of potential and ready for your personal touch. Situated on a spacious lot, this property offers an excellent opportunity for an investment property, rental or affordable starter home.

Key facts

• 0.37 acre lot
• Garage
• Built 1895

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached 1-car garage
• Home design: Single-family residence; One and one-half level; 1 story total
• Construction: 0.37-acre lot (96 x 112)
• Exterior features: Slate and metal roof

Interior

• Bathrooms: One three-quarter bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($891 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#506 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools F, amenities F, commute F.
• Hartley-Melvin-Sanborn Community School District (rural): math 72% / reading 73% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 6 active listings in the ZIP; 8 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($346 loan paydown + $1k appreciation (2.1% local appreciation)).
• Osceola County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1895 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.78% ✓
• Cap rate: 15.74%
• Cash-on-cash: 33.73%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $68,241
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6663 Florence Ave	0.10mi	2/1.0	1,078 (+9%)	24mo	$74,000	$69	61

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

Projected returns pro-forma

2.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 3.06×
• Total profit: $28,803
• Equity at exit: $20,065

10-year hold

• IRR: 38.9%
• Equity multiple: 6.02×
• Total profit: $70,342
• Equity at exit: $29,161

Cash invested: $14,000 (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 51354

• Home prices YoY: 2.0%
• Active inventory: 6
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $891 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $393

Break-even live

Break-even rent $392

Max offer price $50,000

Occupancy floor 51%

Sensitivity live

Price	-10% $422	-5% $408	+0% $393	+5% $379	+10% $365
Rent	-10% $323	-5% $358	+0% $393	+5% $429	+10% $464
Rate	-1.0pp $419	-0.5pp $406	base $393	+0.5pp $381	+1.0pp $367

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   pricedays on market $50,000 Active 24 DOM
2. 2026-06-18
   days on market $55,000 Active 22 DOM
3. 2026-06-17
   days on market $55,000 Active 21 DOM
4. 2026-06-16
   days on market $55,000 Active 20 DOM
5. 2026-06-15
   days on market $55,000 Active 19 DOM
6. 2026-06-13
   days on market $55,000 Active 17 DOM
7. 2026-06-12
   days on market $55,000 Active 16 DOM
8. 2026-06-09
   days on market $55,000 Active 13 DOM
9. 2026-06-08
   days on market $55,000 Active 12 DOM
10. 2026-06-07
    days on market $55,000 Active 11 DOM
11. 2026-06-07
    days on market $55,000 Active 10 DOM
12. 2026-06-04
    days on market $55,000 Active 7 DOM
13. 2026-06-02
    days on market $55,000 Active 6 DOM
14. 2026-06-01
    days on market $55,000 Active 5 DOM
15. 2026-05-31
    days on market $55,000 Active 4 DOM
16. 2026-05-31
    days on market $55,000 Active 3 DOM
17. 2026-05-27
    listed $55,000 Active
18. 2025-08-08
    price $45,000
19. 2025-06-11
    listed $55,000 Active

ⓘ 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: $324 · $27/mo
• Projected year-2 tax: $554 · $46/mo
• Expected delta: +$230/yr (+$19/mo · 71.1%)

ⓘ 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 2/10 Low 7 d/yr ≥99°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: $10,686
• − Mortgage interest: −$2,801
• − Property taxes: −$324
• − Insurance: −$250
• − Repairs & maintenance: −$855
• − Management: −$855
• − Depreciation: −$1,455
• Taxable income: $4,147
• Est. tax owed @ 24.0%: −$995
• After-tax cash flow: $3,726/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: Hartley-Melvin-Sanborn Community School District
• NCES district ID: 1913660
• Math proficiency: 72% ▲ 1.00%
• Reading proficiency: 73% ▲ 4.00%
• Median HH income: $46,177
• Composite: 61.08/100
• National rank: #790
• State rank: #111 of 289 in IA

Livability — Ocheyedan

• Score: 66/100
• State rank: #506
• US rank: #11240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,034
• Population (ZIP): 1,034

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 5,434 people
• By 2030: 5,046 · -7.1%
• By 2040: 4,339 · -20.2%
• By 2050: 3,711 · -31.7%
• By 2075: 2,649 · -51.3%
• By 2100: 1,975 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Iranian 17% Portuguese 12% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+64.2) · D 17.2% · R 81.5% · Other 1.3%
• 2008→2024 swing: -32.6pp toward R · 2008: -31.7pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+62.8 2016: R+61.8 2012: R+41.4 2008: R+31.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.13%
• Current HPI: 106.3027
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-27 Listed $55,000 Iowa Great Lakes BOR
• 2025-08-08 Price Changed $45,000 NWIA
• 2025-06-11 Listed $55,000 NWIA

Property tax history

+2.9%/yr

Latest (2025): $324 · +3.8% YoY. Source: county tax records.