407 Laurel St · Atlantic, IA 50022

$48,900

2 bd · 1.0 ba · 846 sqft · SingleFamily public records · 127 Days on market

Built 1900 $58/sqft · 41% below area Est $93k · 48% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

Key facts

• Covered front porch
• Spacious yard
• Main-floor living

Tags

• COVERED FRONT PORCH
• SPACIOUS YARD
• PRIVATE UPSTAIRS BEDROOMS
• MAIN-FLOOR LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($865 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 3.0% in Atlantic — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#243 in IA, #4,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, amenities F, commute F.
• Atlantic Community School District (town): math 68% / reading 72% proficiency, ranked #155 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 14 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $338 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y ago; this cycle's ask has dropped $15k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.77% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.59%
• DSCR: 2.27
• GRM: 4.7

CMA / ARV

• ARV (median comp): $93,371
• List price: $48,900
• Delta: -47.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
911 Poplar St	0.50mi	2/1.5	847 (+0%)	2mo	$83,000	$98	73
606 W 9th St	0.30mi	2/2.0	962 (+14%)	21mo	$95,000	$99	42
207 E 4th St	0.62mi	3/2.0 (+1)	913 (+8%)	10mo	$120,000	$131	40

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: 22.9%
• Equity multiple: 1.94×
• Total profit: $12,880
• Equity at exit: $7,291

10-year hold

• IRR: 30.9%
• Equity multiple: 3.78×
• Total profit: $38,073
• Equity at exit: $4,228

Cash invested: $13,692 (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 50022

• Home prices YoY: -28.8%
• Active inventory: 49
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $865 medium
• Mortgage (P&I): −$256
• Tax from tax record: −$80 /mo · $966/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $326

Break-even live

Break-even rent $452

Max offer price $48,900

Occupancy floor 57%

Sensitivity live

Price	-10% $354	-5% $340	+0% $326	+5% $312	+10% $299
Rent	-10% $258	-5% $292	+0% $326	+5% $360	+10% $395
Rate	-1.0pp $351	-0.5pp $339	base $326	+0.5pp $314	+1.0pp $301

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: $12,225
• Closing costs: $1,467
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Birch St Atlantic, IA	1.0	1.0	560	$850	$1.52	44d	1	0.16mi
704 E 14th St Unit 4 Atlantic, IA	2.0	1.0	744	$950	$1.28	21d	1	1.14mi

Listing history 26 events

1. 2026-05-11
   price $48,900 781-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

2. 2026-05-11
   price $48,900 780-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

3. 2026-04-26
   status Active 781-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

4. 2026-04-26
   status Active 780-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

5. 2026-04-09
   status Pending 780-char remark

   Show marketing remark (781 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

6. 2026-04-09
   status Pending 781-char remark

   Show marketing remark (781 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

7. 2026-03-23
   price $50,000 780-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

8. 2026-03-22
   price $50,000 781-char remark

   Show marketing remark (781 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

9. 2026-03-10
   price $54,000 780-char remark

   Show marketing remark (780 chars)

   This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

10. 2026-02-21
    price $54,000 781-char remark

    Show marketing remark (781 chars)

    This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

11. 2026-01-15
    price $57,000 781-char remark

    Show marketing remark (780 chars)

    This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

12. 2026-01-15
    price $57,000 780-char remark

    Show marketing remark (780 chars)

    This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is

13. 2025-12-30
    listed $64,000 Active 780-char remark

    Show marketing remark (781 chars)

    This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

14. 2025-12-30
    listed $64,000 Active 781-char remark

    Show marketing remark (781 chars)

    This charming 1½-story home offers 2 bedrooms, 1 bathroom, and 956 sq ft of comfortable living space. Functional layout with main-floor living and private upstairs bedrooms. Enjoy the covered front porch & spacious yard. Outside, enjoy a large yard with open green space, perfect for outdoor activities, gardening, or simply relaxing. The covered front porch adds charm and provides a welcoming entry. Well-suited for first-time buyers seeking affordable homeownership, deal for investors looking to expand their portfolio or buyers seeking a value-add property. or those looking to downsize while still enjoying outdoor space. Conveniently located in Atlantic, IA. , this property combines small-town living with practical affordability. Property is being sold as-is.

15. 2018-05-10
    soldstatus $47,500
16. 2018-05-09
    soldstatus $47,500
17. 2018-05-09
    soldstatus $47,500
18. 2018-03-01
    listed $49,000
19. 2018-03-01
    listed $49,000
20. 2016-01-15
    soldstatus $35,500
21. 2016-01-15
    soldstatus $35,500
22. 2015-11-18
    listed $39,500
23. 2015-11-18
    listed $39,500
24. 2010-09-02
    soldstatus $27,500
25. 2010-08-31
    soldstatus $27,500
26. 2010-02-17
    listed $32,500

ⓘ 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: $966 · $80/mo
• Projected year-2 tax: $966 · $80/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $10,383
• − Mortgage interest: −$2,739
• − Property taxes: −$966
• − Insurance: −$244
• − Repairs & maintenance: −$831
• − Management: −$831
• − Depreciation: −$1,423
• Taxable income: $3,350
• Est. tax owed @ 24.0%: −$804
• After-tax cash flow: $3,111/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: Atlantic Community School District
• NCES district ID: 1903930
• Math proficiency: 68% ▬ 0.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $41,877
• Composite: 58.58/100
• National rank: #987
• State rank: #155 of 289 in IA

Livability — Atlantic

• Score: 74/100
• State rank: #243
• US rank: #4704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic, IA
• City population: 8,472
• Population (ZIP): 8,472

Population outlook (Cass County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 11,911 · -4.3%
• By 2040: 10,904 · -12.4%
• By 2050: 10,005 · -19.7%
• By 2075: 8,030 · -35.5%
• By 2100: 5,865 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+40.7) · D 28.9% · R 69.6% · Other 1.5%
• 2008→2024 swing: -29.9pp toward R · 2008: -10.8pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+38.0 2016: R+39.8 2012: R+18.9 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.62%
• Current HPI: 162.2127
• 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

+50.5% since first listed

26 events — show timeline

• 2026-05-11 Price Changed $48,900 SWIAR
• 2026-05-11 Price Changed $48,900 IAR
• 2026-04-26 Relisted — SWIAR
• 2026-04-26 Relisted — IAR
• 2026-04-09 Pending — IAR
• 2026-04-09 Pending — SWIAR
• 2026-03-23 Price Changed $50,000 IAR
• 2026-03-22 Price Changed $50,000 SWIAR
• 2026-03-10 Price Changed $54,000 IAR
• 2026-02-21 Price Changed $54,000 SWIAR
• 2026-01-15 Price Changed $57,000 SWIAR
• 2026-01-15 Price Changed $57,000 IAR
• 2025-12-30 Listed $64,000 IAR
• 2025-12-30 Listed $64,000 SWIAR
• 2018-05-10 Sold (Public Records) $47,500 Public Records
• 2018-05-09 Sold (MLS) $47,500 NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-09 Sold (MLS) $47,500 IAR
• 2018-03-01 Listed $49,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-01 Listed $49,000 IAR
• 2016-01-15 Sold (MLS) $35,500 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-15 Sold (MLS) $35,500 IAR
• 2015-11-18 Listed $39,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-18 Listed $39,500 IAR
• 2010-09-02 Sold (Public Records) $27,500 Public Records
• 2010-08-31 Sold (MLS) $27,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-17 Listed $32,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $966 · -1.4% YoY. Source: county tax records.