1365 Van Ave · Klemme, IA 50449

$53,000

4 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 22 Days on market

Built 1900 3.69 ac lot Est $46k · 16% over ↓ 37% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.4/10.0
• Schools +5.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0

Listing remarks

AUCTION Discover the charm of this 2-story home featuring 4 bedrooms and 1 bath. Nestled on a generous approximately 3.69-acre lot, this property offers ample space for outdoor living, gardening, or future expansion. Bring the contractor. .. needs total rehab to make move-in ready, but there are lots of possibilities!

Key facts

• 3.69 acre lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $52k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#679 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, health & safety C-.
• Belmond-Klemme Community School District (rural): math 60% / reading 67% proficiency, ranked #212 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Belmond-Klemme Alternative School (math 24% / reading 75%, 7 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 50% at this address vs 64% district-wide (-14 pts) — the specific schools serving this property underperform the Belmond-Klemme Community School District average; the district grade overstates school quality for this exact location.
• Market conditions: 3 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($366 loan paydown + $2k appreciation (2.9% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $52,205 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.48% ✓
• Cap rate: 21.03%
• Cash-on-cash: 52.62%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $45,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1365 Van Ave	0.00mi	4/1.0	1,760 (0%)	1mo	$46,500	$26	99

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.5%
• Equity multiple: 4.20×
• Total profit: $47,458
• Equity at exit: $23,397

10-year hold

• IRR: 57.3%
• Equity multiple: 8.51×
• Total profit: $111,421
• Equity at exit: $35,723

Cash invested: $14,840 (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 50449

• Home prices YoY: 1.5%
• Active inventory: 3
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$278
• Tax from tax record: −$87 /mo · $1,044/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $651

Break-even live

Break-even rent $490

Max offer price $53,000

Occupancy floor 45%

Sensitivity live

Price	-10% $681	-5% $666	+0% $651	+5% $636	+10% $621
Rent	-10% $547	-5% $599	+0% $651	+5% $703	+10% $755
Rate	-1.0pp $677	-0.5pp $664	base $651	+0.5pp $637	+1.0pp $623

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-23
   status Pending
2. 2026-04-01
   listed $53,000 Active
3. 2025-10-30
   price $59,500
4. 2025-10-13
   price $67,800
5. 2025-09-26
   price $84,200

ⓘ 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: $1,044 · $87/mo
• Projected year-2 tax: $1,044 · $87/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 2/10 Low 7 d/yr ≥99°F today · 16 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: $15,764
• − Mortgage interest: −$2,969
• − Property taxes: −$1,044
• − Insurance: −$265
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$1,542
• Taxable income: $7,422
• Est. tax owed @ 24.0%: −$1,781
• After-tax cash flow: $6,028/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: Belmond-Klemme Community School District
• NCES district ID: 1904680
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 67% ▲ 7.00%
• Median HH income: $46,566
• Composite: 53.63/100
• National rank: #1435
• State rank: #212 of 289 in IA

Livability — Klemme

• Score: 63/100
• State rank: #679
• US rank: #15729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 816

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3%
• Common ancestry: Portuguese 9% Italian 7% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.85%
• Current HPI: 194.6749
• 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

-37.1% since first listed

5 events — show timeline

• 2026-04-23 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-01 Listed $53,000 NEIRBR as distributed by MLS GRID
• 2025-10-30 Price Changed $59,500 NEIRBR as distributed by MLS GRID
• 2025-10-13 Price Changed $67,800 NEIRBR as distributed by MLS GRID
• 2025-09-26 Price Changed $84,200 NEIRBR as distributed by MLS GRID

Property tax history

+0.2%/yr

Latest (2025): $1,044 · +11.8% YoY. Source: county tax records.