208 Dover St · Kingsley, IA 51028

$119,950

2 bd · 2.0 ba · 1,349 sqft · Other public records · 40 Days on market

Built 1976

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Why this score? — see what drove the C 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 +16.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• Schools +6.0/10.0
• DSCR +5.2/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Easy living in a wonderful town! Two bedrooms, 2 baths and main floor laundry. New carpet and paint throughout main floor. New exterior paint, new water heater, updated furnace and central air. Light finish in the basement adds lots of extra space. Appliances included. Perfect for the small family or snowbirds! Ready to move right in. This home is half of a duplex.

Key facts

• New carpet
• New exterior paint
• Main floor laundry

Tags

• MAIN FLOOR LAUNDRY
• NEW CARPET
• NEW EXTERIOR PAINT
• UPDATED FURNACE
• CENTRAL AIR
• LIGHT FINISH IN THE BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $77 ($918/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 $110k (8.0% below list).
• Recommended offer: $110k (8.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#119 in IA, #2,219 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Kingsley-Pierson Community School District (rural): math 68% / reading 73% proficiency, ranked #125 of 289 in IA (top 43%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 9 active listings in the ZIP; 147 units permitted in Plymouth County in 2024 (112 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($830 loan paydown + $4k appreciation (3.5% local appreciation)).
• At projected returns (3.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Recommended offer $110,364 (8.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. 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: 0.92% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.67×
• Total profit: $22,487
• Equity at exit: $57,304

10-year hold

• IRR: 13.2%
• Equity multiple: 3.07×
• Total profit: $69,391
• Equity at exit: $91,025

Cash invested: $33,586 (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 51028

• Home prices YoY: 1.6%
• Active inventory: 9
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,104 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $77

Break-even live

Break-even rent $1,007

Max offer price $119,950

Occupancy floor 88%

Sensitivity live

Price	-10% $144	-5% $110	+0% $77	+5% $43	+10% $9
Rent	-10% $-11	-5% $33	+0% $77	+5% $120	+10% $164
Rate	-1.0pp $137	-0.5pp $107	base $77	+0.5pp $45	+1.0pp $14

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: $29,988
• Closing costs: $3,598
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $119,950 Active 40 DOM
2. 2026-06-21
   days on market $119,950 Active 39 DOM
3. 2026-06-18
   days on market $119,950 Active 37 DOM
4. 2026-06-17
   days on market $119,950 Active 36 DOM
5. 2026-06-16
   days on market $119,950 Active 35 DOM
6. 2026-06-15
   days on market $119,950 Active 34 DOM
7. 2026-06-13
   days on market $119,950 Active 32 DOM
8. 2026-06-12
   days on market $119,950 Active 31 DOM
9. 2026-06-09
   days on market $119,950 Active 28 DOM
10. 2026-06-08
    days on market $119,950 Active 27 DOM
11. 2026-06-07
    days on market $119,950 Active 26 DOM
12. 2026-06-07
    days on market $119,950 Active 25 DOM
13. 2026-06-04
    days on market $119,950 Active 22 DOM
14. 2026-06-02
    days on market $119,950 Active 21 DOM
15. 2026-06-01
    days on market $119,950 Active 20 DOM
16. 2026-05-31
    days on market $119,950 Active 19 DOM
17. 2026-05-31
    days on market $119,950 Active 18 DOM
18. 2026-05-12
    listed $119,950 Active 367-char remark

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$244/yr (+$20/mo · 17.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $13,244
• − Mortgage interest: −$6,719
• − Property taxes: −$1,396
• − Insurance: −$600
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,489
• Taxable loss: −$1,080
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $1,177/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: Kingsley-Pierson Community School District
• NCES district ID: 1915750
• Math proficiency: 68% ▼ -7.00%
• Reading proficiency: 73% ▲ 1.00%
• Median HH income: $55,579
• Composite: 60.3/100
• National rank: #852
• State rank: #125 of 289 in IA

Livability — Kingsley

• Score: 79/100
• State rank: #119
• US rank: #2219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingsley, IA
• Population (ZIP): 2,047

Population outlook (Plymouth County) Hauer SSP2

• Today (2025): 25,214 people
• By 2030: 25,257 · +0.2%
• By 2040: 25,304 · +0.4%
• By 2050: 25,421 · +0.8%
• By 2075: 26,820 · +6.4%
• By 2100: 27,604 · +9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2%
• Common ancestry: Iranian 4% Portuguese 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Plymouth

• 2024 margin: Solid R (+54.2) · D 22.3% · R 76.5% · Other 1.2%
• 2008→2024 swing: -29.2pp toward R · 2008: -25.1pp · 2024: -54.2pp
• All cycles: 2024: R+54.2 2020: R+49.3 2016: R+51.9 2012: R+34.3 2008: R+25.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.49%
• Current HPI: 219.6691
• 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

• 2026-05-12 Listed $119,950 FSBO.com

Property tax history

+4.6%/yr

Latest (2025): $1,396 · +12.8% YoY. Source: county tax records.