7828 143rd Ave · Indianola, IA 51025

$2

4 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 36 Days on market

Built 1967 154 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your rural oasis! Nestled just north of Indianola, this 154-acre property offers a peaceful escape from the hustle and bustle of city life. With 15-minute access to Des Moines metro, you can enjoy the best of both worlds – all while taking in gorgeous panoramic & 360-degree views of rolling countryside. This stunning property includes a pond onsite, as well as a mix of hay ground, pasture, and trees. Plus, it backs Summerset Trail for added convenience of close access to a trail from Indianola to Carlisle and the Des Moines Park system. The property has a quarter of a mile driveway, large building with propane heat, water and a multiple fenced in quarters for small an

Key facts

• Pond onsite
• 154 acre property
• Mix of hay ground

Tags

• 154 ACRE PROPERTY
• GORGEOUS PANORAMIC VIEWS
• POND ONSITE
• MIX OF HAY GROUND
• BACKS SUMMERSET TRAIL
• QUARTER OF A MILE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $2.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2).
• Recommended offer: $1 (50.0% below list) — sets the bar for market timing.
• Cap rate 503627.7% vs local median 2.3% in Indianola — 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 87/100 on livability (#10 in IA, #332 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Indianola Community School District (town): math 74% / reading 72% proficiency, ranked #83 of 289 in IA (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 12 active listings in the ZIP; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $1 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($1) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago 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.

Recommended offer $1 (50.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 53125.50% ✓
• Cap rate: 503627.74%
• Cash-on-cash: 1798648.03%
• DSCR: 80030.72
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 95493.09×
• Total profit: $53,476
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 206195.34×
• Total profit: $115,469
• Equity at exit: $0

Cash invested: $1 (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 51025

• Home prices YoY: -17.5%
• Active inventory: 12

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $839

Break-even live

Break-even rent —

Max offer price $2

Occupancy floor 16%

Sensitivity live

Price	-10% $839	-5% $839	+0% $839	+5% $839	+10% $839
Rent	-10% $755	-5% $797	+0% $839	+5% $881	+10% $923
Rate	-1.0pp $839	-0.5pp $839	base $839	+0.5pp $839	+1.0pp $839

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-01-14
   status Pending
2. 2025-12-02
   listed $2 Active
3. 2023-08-24
   historical
4. 2023-08-03
   listed $1,295,000 Active
5. 2018-09-17
   historical
6. 2016-11-07
   listed $399,000 Active
7. 2016-09-04
   historical
8. 2015-09-18
   listed $399,000
9. 2015-08-24
   historical
10. 2013-02-14
    listed $399,000
11. 2013-02-14
    historical
12. 2012-10-05
    listed $399,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $12,750
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$0
• Taxable income: $10,710
• Est. tax owed @ 24.0%: −$2,570
• After-tax cash flow: $7,502/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: Indianola Community School District
• NCES district ID: 1914640
• Math proficiency: 74% ▼ -3.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $59,896
• Composite: 62.81/100
• National rank: #666
• State rank: #83 of 289 in IA

Livability — Indianola

• Score: 87/100
• State rank: #10
• US rank: #332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,881

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Portuguese 6% Iranian 4% Lithuanian 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.19%
• Current HPI: 180.4286
• 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

+224.6% since first listed

12 events — show timeline

• 2026-01-14 Pending — IAR
• 2025-12-02 Listed $2 IAR
• 2023-08-24 Listing Removed — DMMLS
• 2023-08-03 Listed $1,295,000 DMMLS
• 2018-09-17 Listing Removed — DMMLS
• 2016-11-07 Listed $399,000 DMMLS
• 2016-09-04 Listing Removed — DMMLS
• 2015-09-18 Listed $399,000 DMMLS
• 2015-08-24 Listing Removed — DMMLS
• 2013-02-14 Listing Removed — DMMLS
• 2013-02-14 Listed $399,000 DMMLS
• 2012-10-05 Listed $399,000 DMMLS

Property tax history

-1.4%/yr

Latest (2014): $1,286 · -1.4% YoY. Source: county tax records.