750 Main St

Akron, IA 51001

$180,000F

3 bd · 2.5 ba · 1,592 sqft · Built 1969 · SingleFamily · Pending · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,199/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$307
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-304/mo
• Annual: $-3,647/yr
• Cap rate: 4.27%
• Cash-on-cash: -7.24%
• DSCR: 0.68
• 1% rule: 0.67%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.5-bath single-family listed at $180k.
• At list price, monthly cash flow is $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (33.4% below list).
• It's been on market 71 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (33.4% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.4% local appreciation)).
• Location reads 73/100 on livability (#262 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Akron Westfield Community School District (rural): math 75% / reading 78% proficiency, ranked #50 of 289 in IA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Akron Westfield Elementary School (math 77% / reading 82%, grade A, #71 of 616 statewide, top 15%, 249 students, 40% FRL); Akron Westfield Middle School (math 82% / reading 82%, grade A+, #22 of 246 statewide, top 12%, 139 students, 28% FRL); Akron Westfield Senior High School (math 67% / reading 72%, grade B, #152 of 336 statewide, top 52%, 192 students, 28% FRL).
• Market conditions: 18 active listings in the ZIP; 147 units permitted in Plymouth County in 2024 (112 in 5+ unit buildings).
• 4 sale attempts since 4y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 71 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.