1109 E Monroe St · Mount Pleasant, IA 52641

$77,890

2 bd · 1.0 ba · 758 sqft · SingleFamily public records · 29 Days on market

Built 1950 4,356 sqft lot $103/sqft · 27% below area Est $107k · 27% under

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.3/10.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Selling at Absolute Online Only Auction – selling regardless of price. Bidding ends: Tues. , May 26 at 1PM. This single-story investment property offers a solid opportunity with a long-term tenant of over 16 years who would like to remain, currently paying $600 per month and responsible for all utilities. The home features 2–3 bedrooms, 1 bath, and 758 sq. ft. of living space on a slab foundation, along with an attached 1-car garage. Situated on a corner lot in a desirable neighborhood, the property includes a roof replaced in 2015, maintenance free vinyl siding, and an energy efficient GFA furnace with central air. A turnkey rental with immediate income potential. List price is

Key facts

• Turnkey rental
• Central air
• Corner lot

Tags

• CORNER LOT
• ROOF REPLACED
• MAINTENANCE FREE VINYL SIDING
• ENERGY EFFICIENT FURNACE
• CENTRAL AIR
• TURNKEY RENTAL

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.1 acre (61 x 74)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Central air conditioning; Forced air heating

🏷️ Possibly a rental listed for sale. The $77,890 price doesn't fit this home's estimated sale value (~$106,912) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.2% in Mount Pleasant — 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 84/100 on livability (#20 in IA, #662 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Mount Pleasant Community School District (town): math 63% / reading 66% proficiency, ranked #207 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $538 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,721 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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 B-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?
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: 1.13% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (median comp): $106,912
• List price: $77,890
• Delta: -27.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1102 E Monroe St	0.05mi	2/1.0	759 (+0%)	2mo	$110,000	$145	96
305 N Poplar St	0.64mi	2/1.0	744 (-2%)	1mo	$87,550	$118	66
704 E Madison St	0.37mi	2/1.0	853 (+12%)	6mo	$77,500	$91	57
705 S Walnut St	0.62mi	2/1.0	726 (-4%)	14mo	$115,000	$158	52
806 E Henry St	0.30mi	2/1.0	860 (+14%)	18mo	$95,000	$110	49
613 N Palm Ave	0.71mi	3/1.0 (+1)	816 (+8%)	4mo	$117,000	$143	46
503 E Cedar Ln	0.71mi	2/1.0	720 (-5%)	19mo	$83,500	$116	43
502 E Madison St	0.55mi	2/2.5	865 (+14%)	11mo	$167,500	$194	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-3,243
• Equity at exit: $11,614

10-year hold

• IRR: 5.7%
• Equity multiple: 1.43×
• Total profit: $9,310
• Equity at exit: $6,735

Cash invested: $21,809 (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 52641

• Home prices YoY: -25.2%
• Active inventory: 93
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $884 medium
• Mortgage (P&I): −$408
• Tax from tax record: −$110 /mo · $1,322/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $147

Break-even live

Break-even rent $698

Max offer price $77,890

Occupancy floor 78%

Sensitivity live

Price	-10% $191	-5% $169	+0% $147	+5% $125	+10% $103
Rent	-10% $77	-5% $112	+0% $147	+5% $182	+10% $217
Rate	-1.0pp $186	-0.5pp $167	base $147	+0.5pp $127	+1.0pp $106

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: $19,472
• Closing costs: $2,337
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-28
   listed $77,890 Active 754-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: $1,322 · $110/mo
• Projected year-2 tax: $1,322 · $110/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,602
• − Mortgage interest: −$4,363
• − Property taxes: −$1,322
• − Insurance: −$389
• − Repairs & maintenance: −$848
• − Management: −$848
• − Depreciation: −$2,266
• Taxable income: $566
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $1,627/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: Mount Pleasant Community School District
• NCES district ID: 1919890
• Math proficiency: 63% ▼ -5.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $46,805
• Composite: 54.49/100
• National rank: #1348
• State rank: #207 of 289 in IA

Livability — Mount Pleasant

• Score: 84/100
• State rank: #20
• US rank: #662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Pleasant, IA
• Population (ZIP): 12,796

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.39%
• Current HPI: 179.2437
• 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

2 events — show timeline

• 2026-05-27 Pending — IAR
• 2026-04-28 Listed $77,890 IAR

Property tax history

+3.1%/yr

Latest (2025): $1,322 · +5.6% YoY. Source: county tax records.