707 4th St · Correctionville, IA 51016

$7,800

4 bd · 1.0 ba · 889 sqft · SingleFamily public records · 26 Days on market

Built 1890 8,712 sqft lot ↓ 48% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This property is an excellent opportunity for fix & flip, rental, or make it your own. Repairs, rehab, updates, clean out are needed. Plenty of opportunity for quick equity in this one. Nice corner lot. Call today!

Key facts

• 8,712 sq ft lot
• Garage
• Built 1890

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $8k).
• Recommended offer: $8k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#528 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• River Valley Community School District (rural): math 60% / reading 63% proficiency, ranked #238 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $335 of equity ($54 loan paydown + $281 appreciation (3.6% local appreciation)).
• At projected returns (3.6% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($8k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,683 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 B-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?
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: 12.62% ✓
• Cap rate: 117.67%
• Cash-on-cash: 397.77%
• DSCR: 18.70
• GRM: 0.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 22.66×
• Total profit: $47,316
• Equity at exit: $3,776

10-year hold

• IRR: —
• Equity multiple: 48.41×
• Total profit: $103,537
• Equity at exit: $6,038

Cash invested: $2,184 (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 51016

• Home prices YoY: 1.7%
• Active inventory: 15
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$41
• Tax est. 1.5%: −$10 /mo · $117/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $724

Break-even live

Break-even rent $68

Max offer price $7,800

Occupancy floor 21%

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: $1,950
• Closing costs: $234
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-23
   status Pending
2. 2026-04-20
   historical Active Under Contract
3. 2026-03-28
   listed $7,800 Active
4. 2012-05-31
   soldstatus $15,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,815
• − Mortgage interest: −$437
• − Property taxes: −$117
• − Insurance: −$39
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$227
• Taxable income: $9,105
• Est. tax owed @ 24.0%: −$2,185
• After-tax cash flow: $6,502/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: River Valley Community School District
• NCES district ID: 1910340
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $43,677
• Composite: 51.71/100
• National rank: #1686
• State rank: #238 of 289 in IA

Livability — Correctionville

• Score: 66/100
• State rank: #528
• US rank: #11786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Correctionville, IA
• Population (ZIP): 1,095

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 16% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.61%
• Current HPI: 215.7251
• 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

-48.0% since first listed

4 events — show timeline

• 2026-04-23 Pending — IAR
• 2026-04-20 Contingent — IAR
• 2026-03-28 Listed $7,800 IAR
• 2012-05-31 Sold (Public Records) $15,000 Public Records

Property tax history

+11.7%/yr

Latest (2025): $691 · -0.1% YoY. Source: county tax records.