233 Vine St

Osage, IA 50461

$85,900C+

3 bd · 1.0 ba · 1,104 sqft · Built 1922 · SingleFamily · Pending · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $976/mo
• Mortgage (P&I): −$450
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $187/mo
• Annual: $2,246/yr
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• 1% rule: 1.14%
• Cash to close: $24,052

Investor read

• This is a 3-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($976 rent vs $86k).
• It's been on market 44 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#80 in IA, #1,667 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Osage Community School District (town): math 68% / reading 76% proficiency, ranked #108 of 289 in IA (top 37%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 41 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).
• Mitchell County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• Current owner paid $42k; list at $86k implies a 102% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.