406 4th St · Deep River, IA 52222

$144,500

5 bd · 2.5 ba · 1,339 sqft · SingleFamily public records · 80 Days on market

Built 1921 9,583 sqft lot $108/sqft · 12% above area Est $193k · 25% under

---

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 +16.4/30.0
• ARV discount +15.0/15.0
• Appreciation +9.1/10.0
• Schools +6.5/10.0
• DSCR +5.1/10.0
• 1% rule +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming and spacious 5bedroom, 2bath home in Deep River offering great value and room to grow. Bright mainlevel living and dining areas create a warm, welcoming feel, paired with a functional kitchen for everyday use. A partially finished walkout basement adds flexible space. Step outside to a deck, enclosed porch, and fenced yard, perfect for relaxing or entertaining. The oversized detached 2-car garage offers ample storage and convenience. Energy-efficient solar panels, installed three years ago, provide meaningful savings on monthly electric bills, helping reduce utility costs and add long-term value. Additional features include a jetted tub, breaker electrical panel, and a water heater installed in 2018. The home is attractively priced and a great opportunity to build equity and make it your own. The solar panels are not included in the list price; however, the sellers are willing to cover half of the solar panel cost.

Key facts

• Functional kitchen
• Fenced yard
• Enclosed porch

Tags

• MAIN-LEVEL LIVING
• FUNCTIONAL KITCHEN
• PARTIALLY FINISHED BASEMENT
• ENCLOSED PORCH
• FENCED YARD
• OVERSIZED DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $82 ($985/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 $127k (12.4% below list).
• Recommended offer: $127k (12.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#769 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Montezuma Community School District (rural): math 73% / reading 79% proficiency, ranked #55 of 289 in IA (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 7 active listings in the ZIP; 27 units permitted in Poweshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($999 loan paydown + $12k appreciation (8.2% local appreciation)).
• Poweshiek County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, 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 80 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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.
• Current owner paid $65k; list at $144k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,547 (12.4% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.88% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 9.5

CMA / ARV

• ARV (median comp): $193,378
• List price: $144,500
• Delta: -25.28%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Hwy 85	0.14mi	4/2.0 (-1)	1,515 (+13%)	23mo	$127,000	$84	45

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

Projected returns pro-forma

8.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.66×
• Total profit: $67,077
• Equity at exit: $112,286

10-year hold

• IRR: 20.4%
• Equity multiple: 5.72×
• Total profit: $190,797
• Equity at exit: $225,319

Cash invested: $40,460 (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 52222

• Home prices YoY: 4.0%
• Active inventory: 7
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$758
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $82

Break-even live

Break-even rent $1,162

Max offer price $144,500

Occupancy floor 89%

Sensitivity live

Price	-10% $164	-5% $123	+0% $82	+5% $41	+10% $0
Rent	-10% $-18	-5% $32	+0% $82	+5% $132	+10% $182
Rate	-1.0pp $155	-0.5pp $119	base $82	+0.5pp $45	+1.0pp $7

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: $36,125
• Closing costs: $4,335
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $144,500 Active 80 DOM
2. 2026-06-21
   days on market $144,500 Active 79 DOM
3. 2026-06-18
   days on market $144,500 Active 77 DOM
4. 2026-06-17
   days on market $144,500 Active 76 DOM
5. 2026-06-16
   days on market $144,500 Active 75 DOM
6. 2026-06-15
   days on market $144,500 Active 74 DOM
7. 2026-06-13
   days on market $144,500 Active 72 DOM
8. 2026-06-12
   days on market $144,500 Active 71 DOM
9. 2026-06-09
   days on market $144,500 Active 68 DOM
10. 2026-06-08
    days on market $144,500 Active 67 DOM
11. 2026-06-07
    days on market $144,500 Active 66 DOM
12. 2026-06-05
    days on market $144,500 Active 64 DOM
13. 2026-06-04
    days on market $144,500 Active 62 DOM
14. 2026-06-02
    days on market $144,500 Active 61 DOM
15. 2026-06-01
    days on market $144,500 Active 60 DOM
16. 2026-05-31
    days on market $144,500 Active 59 DOM
17. 2026-05-31
    days on market $144,500 Active 58 DOM
18. 2026-05-05
    price $144,500 937-char remark

    Show marketing remark (954 chars)

    Charming and spacious 5-bedroom, 2-bath home in Deep River offering great value and room to grow. Bright main-level living and dining areas create a warm, welcoming feel, paired with a functional kitchen for everyday use. A partially finished walk-out basement adds flexible space. Step outside to a deck, enclosed porch, and fenced yard, perfect for relaxing or entertaining. The oversized detached 2-car garage offers ample storage and convenience. Energy-efficient solar panels, installed three years ago, provide meaningful savings on monthly electric bills, helping reduce utility costs and add long-term value. Additional features include a jetted tub, breaker electrical panel, and a water heater installed in 2018. The home is attractively priced and a great opportunity to build equity and make it your own. Please note, the solar panels are not included in the list price; however, the sellers are willing to cover half of the solar panel cost.

19. 2026-05-05
    price $144,500 954-char remark

    Show marketing remark (954 chars)

    Charming and spacious 5-bedroom, 2-bath home in Deep River offering great value and room to grow. Bright main-level living and dining areas create a warm, welcoming feel, paired with a functional kitchen for everyday use. A partially finished walk-out basement adds flexible space. Step outside to a deck, enclosed porch, and fenced yard, perfect for relaxing or entertaining. The oversized detached 2-car garage offers ample storage and convenience. Energy-efficient solar panels, installed three years ago, provide meaningful savings on monthly electric bills, helping reduce utility costs and add long-term value. Additional features include a jetted tub, breaker electrical panel, and a water heater installed in 2018. The home is attractively priced and a great opportunity to build equity and make it your own. Please note, the solar panels are not included in the list price; however, the sellers are willing to cover half of the solar panel cost.

20. 2026-04-02
    listed $145,000 Active 937-char remark

    Show marketing remark (954 chars)

    Charming and spacious 5-bedroom, 2-bath home in Deep River offering great value and room to grow. Bright main-level living and dining areas create a warm, welcoming feel, paired with a functional kitchen for everyday use. A partially finished walk-out basement adds flexible space. Step outside to a deck, enclosed porch, and fenced yard, perfect for relaxing or entertaining. The oversized detached 2-car garage offers ample storage and convenience. Energy-efficient solar panels, installed three years ago, provide meaningful savings on monthly electric bills, helping reduce utility costs and add long-term value. Additional features include a jetted tub, breaker electrical panel, and a water heater installed in 2018. The home is attractively priced and a great opportunity to build equity and make it your own. Please note, the solar panels are not included in the list price; however, the sellers are willing to cover half of the solar panel cost.

21. 2026-04-02
    listed $145,000 Active 954-char remark

    Show marketing remark (954 chars)

    Charming and spacious 5-bedroom, 2-bath home in Deep River offering great value and room to grow. Bright main-level living and dining areas create a warm, welcoming feel, paired with a functional kitchen for everyday use. A partially finished walk-out basement adds flexible space. Step outside to a deck, enclosed porch, and fenced yard, perfect for relaxing or entertaining. The oversized detached 2-car garage offers ample storage and convenience. Energy-efficient solar panels, installed three years ago, provide meaningful savings on monthly electric bills, helping reduce utility costs and add long-term value. Additional features include a jetted tub, breaker electrical panel, and a water heater installed in 2018. The home is attractively priced and a great opportunity to build equity and make it your own. Please note, the solar panels are not included in the list price; however, the sellers are willing to cover half of the solar panel cost.

22. 2025-12-11
    listed $174,800 Active
23. 2015-12-24
    soldstatus $65,000
24. 2015-05-26
    listed $77,499

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $1,732 · $144/mo
• Expected delta: +$536/yr (+$45/mo · 44.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,186
• − Mortgage interest: −$8,094
• − Property taxes: −$1,196
• − Insurance: −$722
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,204
• Taxable loss: −$1,460
• Est. tax savings @ 24.0%: +$351
• After-tax cash flow: $1,335/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: Montezuma Community School District
• NCES district ID: 1919590
• Math proficiency: 73% ▼ -6.00%
• Reading proficiency: 79% ▲ 3.00%
• Median HH income: $57,449
• Composite: 65.04/100
• National rank: #503
• State rank: #55 of 289 in IA

Livability — Deep River

• Score: 61/100
• State rank: #769
• US rank: #17588

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deep River, IA
• Population (ZIP): 643

Population outlook (Poweshiek County) Hauer SSP2

• Today (2025): 18,601 people
• By 2030: 18,342 · -1.4%
• By 2040: 17,944 · -3.5%
• By 2050: 18,029 · -3.1%
• By 2075: 19,945 · +7.2%
• By 2100: 22,637 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Iranian 16% Serbian 5% Portuguese 4%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Poweshiek

• 2024 margin: R (+17.0) · D 40.8% · R 57.8% · Other 1.5%
• 2008→2024 swing: -28.7pp toward R · 2008: 11.8pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+13.3 2016: R+6.8 2012: D+9.1 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.25%
• Current HPI: 213.724
• 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

+86.5% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $144,500 CRAAR, CDRMLS
• 2026-05-05 Price Changed $144,500 ICAARMLS
• 2026-04-02 Listed $145,000 ICAARMLS
• 2026-04-02 Listed $145,000 CRAAR, CDRMLS
• 2025-12-11 Listed $174,800 IAR
• 2015-12-24 Sold (Public Records) $65,000 Public Records
• 2015-05-26 Listed $77,499 IAR

Property tax history

+1.6%/yr

Latest (2025): $1,196 · -0.2% YoY. Source: county tax records.