420 Clark St · Cherokee, IA 51012

$160,000

4 bd · 2.5 ba · 1,779 sqft · SingleFamily public records · 20 Days on market

Built 1880 0.35 ac lot Est $171k · 6% under

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Why this score? — see what drove the D+ 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 +13.6/30.0
• ARV discount +10.3/15.0
• Schools +5.6/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.35 acre lot
• 3 garage spots
• Pool

Property features AI

Exterior

• Parking: Detached oversized garage with concrete driveway (3 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding; Shingle roof; Has basement
• Exterior features: Garden; Fire pit; Deck; Covered patio; French doors; In-ground pool; Workshop

Interior

• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Entrance foyer; Built-in features; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $10 ($116/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (22.2% below list).
• Recommended offer: $124k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Cherokee — 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 80/100 on livability (#83 in IA, #1,698 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cherokee Community School District (town): math 65% / reading 67% proficiency, ranked #191 of 289 in IA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cherokee Elementary School (math 57% / reading 52%, grade C, #462 of 616 statewide, top 79%, 492 students, 43% FRL); Cherokee Middle School (math 65% / reading 64%, grade A-, #157 of 246 statewide, top 67%, 355 students, 42% FRL).
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,500 (22.2% below list)

Questions for the listing agent

1. Built in 1880 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $170,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Spruce St	0.28mi	4/2.5	1,806 (+2%)	1mo	$125,000	$69	83
918 N Roosevelt Ave	0.12mi	3/2.0 (-1)	1,830 (+3%)	2mo	$175,000	$96	81
515 Ash St	0.23mi	3/2.0 (-1)	1,768 (-1%)	7mo	$180,000	$102	75
519 Ash St	0.24mi	3/2.0 (-1)	1,796 (+1%)	10mo	$155,000	$86	72
408 Sherman Ave	0.35mi	4/2.0	1,731 (-3%)	6mo	$210,000	$121	72
518 E Spruce St	0.14mi	3/2.0 (-1)	1,642 (-8%)	10mo	$205,000	$125	65
605 Jefferies St	0.17mi	4/2.0	1,956 (+10%)	11mo	$195,000	$100	64
767 N 2nd St	0.41mi	4/2.5	1,663 (-6%)	10mo	$120,000	$72	62
544 Park Ave	0.33mi	3/2.0 (-1)	1,620 (-9%)	6mo	$159,250	$98	58
225 E Maple St	0.70mi	3/2.5 (-1)	1,704 (-4%)	2mo	$98,000	$58	54
1008 N Hughes Ave	0.33mi	3/2.0 (-1)	1,550 (-13%)	6mo	$124,000	$80	51
426 W Cedar St	0.66mi	4/2.0	1,615 (-9%)	4mo	$35,000	$22	48

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-25,374
• Equity at exit: $23,857

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-21,556
• Equity at exit: $13,834

Cash invested: $44,800 (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 51012

• Home prices YoY: -21.1%
• Active inventory: 44
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $10

Break-even live

Break-even rent $1,233

Max offer price $160,000

Occupancy floor 94%

Sensitivity live

Price	-10% $100	-5% $55	+0% $10	+5% $-36	+10% $-81
Rent	-10% $-89	-5% $-40	+0% $10	+5% $59	+10% $108
Rate	-1.0pp $90	-0.5pp $50	base $10	+0.5pp $-32	+1.0pp $-74

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Rock Island Ave Cherokee, IA	2.0–3.0	1.0–2.0	1058	$1,245	$1.18	22d	12	1.39mi

Listing history 15 events

1. 2026-06-17
   status $160,000 Pending 20 DOM
2. 2026-06-16
   days on market $160,000 Active 20 DOM
3. 2026-06-15
   days on market $160,000 Active 19 DOM
4. 2026-06-13
   days on market $160,000 Active 17 DOM
5. 2026-06-12
   days on market $160,000 Active 16 DOM
6. 2026-06-09
   days on market $160,000 Active 13 DOM
7. 2026-06-08
   days on market $160,000 Active 12 DOM
8. 2026-06-07
   days on market $160,000 Active 11 DOM
9. 2026-06-07
   days on market $160,000 Active 10 DOM
10. 2026-06-04
    days on market $160,000 Active 7 DOM
11. 2026-06-02
    days on market $160,000 Active 6 DOM
12. 2026-06-01
    days on market $160,000 Active 5 DOM
13. 2026-05-31
    days on market $160,000 Active 4 DOM
14. 2026-05-31
    days on market $160,000 Active 3 DOM
15. 2026-05-27
    listed $160,000 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: $818 · $68/mo
• Projected year-2 tax: $1,665 · $139/mo
• Expected delta: +$847/yr (+$71/mo · 103.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $14,940
• − Mortgage interest: −$8,962
• − Property taxes: −$818
• − Insurance: −$800
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$4,655
• Taxable loss: −$2,685
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $760/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: Cherokee Community School District
• NCES district ID: 1907170
• Math proficiency: 65% ▼ -5.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $45,935
• Composite: 55.66/100
• National rank: #1226
• State rank: #191 of 289 in IA

Livability — Cherokee

• Score: 80/100
• State rank: #83
• US rank: #1698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherokee, IA
• City population: 6,313
• Population (ZIP): 6,313

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Iranian 3% Slovak 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Asian/Pacific 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.34%
• Current HPI: 221.5831
• 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

1 event — show timeline

• 2026-05-27 Listed $160,000 NWIA

Property tax history

+0.3%/yr

Latest (2025): $818 · -12.8% YoY. Source: county tax records.