2207 16th St · Emmetsburg, IA 50536

$139,900

6 bd · 2.5 ba · 2,341 sqft · MultiFamily public records · 58 Days on market

Built 1921 8,784 sqft lot $60/sqft · 5% below area Est $148k · 5% under ↓ 3% since listing

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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 +25.9/30.0
• ARV discount +9.9/15.0
• DSCR +8.7/10.0
• 1% rule +6.1/10.0
• Schools +5.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent Investment Opportunity! This well-maintained duplex features two spacious 3-bedroom, 1-bath units — each with its own 1-car garage, private entrance, and in-unit laundry. Both units offer bright living spaces, functional layouts, and separate utilities for easy management. Recent updates include a brand-new roof and new carpeting in the main-floor bedrooms, making this property truly move-in ready. Perfect for an owner-occupant looking to live in one unit and rent the other, or an investor seeking reliable rental income. Don’t miss your chance to own this versatile, income-producing property — schedule a showing today!

Key facts

• Separate utilities
• Recent updates
• Brand new roof

Tags

• PRIVATE ENTRANCE
• IN UNIT LAUNDRY
• RECENT UPDATES
• BRAND NEW ROOF
• NEW CARPETING
• SEPARATE UTILITIES

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer
• Home design: Duplex (multi-family residential); Two levels; Facing information not provided
• Construction: Wood siding; Asphalt roof
• Exterior features: Corner lot; Publicly maintained road

Interior

• Heating & cooling: Natural gas forced-air heating
• Interior features: Full basement; Gas water heater
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive. Per door: $172/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.7% in Emmetsburg — 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 83/100 on livability (#31 in IA, #881 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Emmetsburg Community School District (town): math 64% / reading 71% proficiency, ranked #176 of 289 in IA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Elementary School (math 72% / reading 77%, grade A, #131 of 616 statewide, top 27%, 300 students, 41% FRL); Emmetsburg Middle School (math 68% / reading 67%, grade A-, #133 of 246 statewide, top 56%, 225 students, 48% FRL); Emmetsburg High School (math 57% / reading 72%, grade B-, #211 of 336 statewide, top 70%, 245 students, 33% FRL).
• Market conditions: 47 active listings in the ZIP; 19 units permitted in Palo Alto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Palo Alto County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 7.5

CMA / ARV

• ARV (median comp): $147,928
• List price: $139,900
• Delta: -5.43%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-755
• Equity at exit: $20,860

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $27,479
• Equity at exit: $12,096

Cash invested: $39,172 (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 50536

• Home prices YoY: -7.0%
• Active inventory: 47
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $345

Break-even live

Break-even rent $1,114

Max offer price $139,900

Occupancy floor 73%

Sensitivity live

Price	-10% $424	-5% $384	+0% $345	+5% $305	+10% $265
Rent	-10% $222	-5% $283	+0% $345	+5% $406	+10% $467
Rate	-1.0pp $415	-0.5pp $380	base $345	+0.5pp $308	+1.0pp $271

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,550
Total (2 units)			$1,550

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $139,900 Active 58 DOM
2. 2026-06-21
   days on market $139,900 Active 57 DOM
3. 2026-06-18
   days on market $139,900 Active 55 DOM
4. 2026-06-17
   days on market $139,900 Active 54 DOM
5. 2026-06-16
   days on market $139,900 Active 53 DOM
6. 2026-06-15
   days on market $139,900 Active 52 DOM
7. 2026-06-13
   days on market $139,900 Active 50 DOM
8. 2026-06-12
   days on market $139,900 Active 49 DOM
9. 2026-06-09
   days on market $139,900 Active 46 DOM
10. 2026-06-08
    days on market $139,900 Active 45 DOM
11. 2026-06-07
    days on market $139,900 Active 44 DOM
12. 2026-06-05
    days on market $139,900 Active 42 DOM
13. 2026-06-04
    days on market $139,900 Active 40 DOM
14. 2026-06-02
    days on market $139,900 Active 39 DOM
15. 2026-06-01
    days on market $139,900 Active 38 DOM
16. 2026-05-31
    days on market $139,900 Active 37 DOM
17. 2026-05-31
    days on market $139,900 Active 36 DOM
18. 2026-04-24
    listed $139,900 Active 654-char remark
19. 2025-10-31
    listed $144,900 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: $1,056 · $88/mo
• Projected year-2 tax: $1,626 · $136/mo
• Expected delta: +$570/yr (+$48/mo · 54.0%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 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: $18,600
• − Mortgage interest: −$7,837
• − Property taxes: −$1,056
• − Insurance: −$700
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$4,070
• Taxable income: $1,962
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $3,664/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: Emmetsburg Community School District
• NCES district ID: 1910950
• Math proficiency: 64% ▲ 2.00%
• Reading proficiency: 71% ▲ 7.00%
• Median HH income: $46,839
• Composite: 56.97/100
• National rank: #1110
• State rank: #176 of 289 in IA

Livability — Emmetsburg

• Score: 83/100
• State rank: #31
• US rank: #881

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emmetsburg, IA
• City population: 4,287
• Population (ZIP): 4,287

Population outlook (Palo Alto County) Hauer SSP2

• Today (2025): 8,816 people
• By 2030: 8,634 · -2.1%
• By 2040: 8,334 · -5.5%
• By 2050: 8,232 · -6.6%
• By 2075: 8,533 · -3.2%
• By 2100: 8,976 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1% Two or more races 1% Asian 1%
• Common ancestry: Portuguese 10% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 99% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Palo Alto

• 2024 margin: Solid R (+45.0) · D 26.9% · R 71.9% · Other 1.2%
• 2008→2024 swing: -47.8pp toward R · 2008: 2.8pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+37.3 2016: R+36.0 2012: R+10.8 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.96%
• Current HPI: 237.1703
• 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

-3.5% since first listed

2 events — show timeline

• 2026-04-24 Listed $139,900 Iowa Great Lakes BOR
• 2025-10-31 Listed $144,900 Iowa Great Lakes BOR

Property tax history

+3.5%/yr

Latest (2025): $1,056 · +1.0% YoY. Source: county tax records.