26921 Highway 92 · Sigourney, IA 52591

$89,900

4 bd · 2.0 ba · 2,142 sqft · SingleFamily public records · 148 Days on market

Built 1920 1.72 ac lot ↓ 10% since listing

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country Property with Exceptional Potential on 1.72 Acres Opportunity awaits with this hilltop acreage located on a hard-surfaced road just a few miles east of Sigourney. Situated on a picturesque 1.72-acre lot, this property offers a peaceful rural setting and scenic countryside views. The home features a new roof, septic in 2021 and a 3-car attached garage. The interior has been completely taken down to the studs, providing a clean slate for the next owner to design and finish the interior to their own specifications. With the demolition already completed, this property is well-suited for buyers seeking a renovation project with the freedom to choose materials, layout, and finishes. Ideal for those with vision, this property offers the chance to create a custom country home in a desirable location with convenient road access. A rare opportunity to add value and bring new life to a solid structure in a beautiful setting.

Key facts

• Hard-surfaced road
• 1.72 acres
• Hilltop acreage

Tags

• 1.72 ACRES
• HILLTOP ACREAGE
• HARD-SURFACED ROAD
• PEACEFUL RURAL SETTING
• SCENIC COUNTRYSIDE VIEWS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#108 in IA, #2,086 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sigourney Community School District (rural): math 76% / reading 68% proficiency, ranked #122 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Sigourney Elementary (math 82% / reading 57%, grade A-, #224 of 616 statewide, top 42%, 323 students, 39% FRL); Sigourney Jr-Sr High Sch (math 72% / reading 75%, grade B+, #108 of 336 statewide, top 33%, 270 students, 34% FRL).
• Market conditions: 25 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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 1920 — 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 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?
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: 1.40% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.12%
• DSCR: 1.81
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.8%
• Equity multiple: 3.91×
• Total profit: $73,188
• Equity at exit: $80,989

10-year hold

• IRR: 32.5%
• Equity multiple: 8.81×
• Total profit: $196,513
• Equity at exit: $174,656

Cash invested: $25,172 (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 52591

• Home prices YoY: 22.5%
• Active inventory: 25
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $380

Break-even live

Break-even rent $776

Max offer price $89,900

Occupancy floor 65%

Sensitivity live

Price	-10% $431	-5% $406	+0% $380	+5% $355	+10% $329
Rent	-10% $281	-5% $330	+0% $380	+5% $430	+10% $479
Rate	-1.0pp $425	-0.5pp $403	base $380	+0.5pp $357	+1.0pp $333

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   statusdays on market $89,900 Pending 148 DOM
2. 2026-06-18
   days on market $89,900 Active 147 DOM
3. 2026-06-17
   days on market $89,900 Active 146 DOM
4. 2026-06-16
   days on market $89,900 Active 145 DOM
5. 2026-06-15
   days on market $89,900 Active 144 DOM
6. 2026-06-13
   days on market $89,900 Active 142 DOM
7. 2026-06-12
   days on market $89,900 Active 141 DOM
8. 2026-06-09
   days on market $89,900 Active 138 DOM
9. 2026-06-08
   days on market $89,900 Active 137 DOM
10. 2026-06-07
    days on market $89,900 Active 136 DOM
11. 2026-06-04
    days on market $89,900 Active 132 DOM
12. 2026-06-02
    days on market $89,900 Active 131 DOM
13. 2026-06-01
    days on market $89,900 Active 130 DOM
14. 2026-05-31
    days on market $89,900 Active 129 DOM
15. 2026-05-31
    days on market $89,900 Active 128 DOM
16. 2026-04-14
    price $89,900 936-char remark

    Show marketing remark (936 chars)

    Country Property with Exceptional Potential on 1.72 Acres Opportunity awaits with this hilltop acreage located on a hard-surfaced road just a few miles east of Sigourney. Situated on a picturesque 1.72-acre lot, this property offers a peaceful rural setting and scenic countryside views. The home features a new roof, septic in 2021 and a 3-car attached garage. The interior has been completely taken down to the studs, providing a clean slate for the next owner to design and finish the interior to their own specifications. With the demolition already completed, this property is well-suited for buyers seeking a renovation project with the freedom to choose materials, layout, and finishes. Ideal for those with vision, this property offers the chance to create a custom country home in a desirable location with convenient road access. A rare opportunity to add value and bring new life to a solid structure in a beautiful setting.

17. 2026-01-21
    listed $100,000 Active 936-char remark

    Show marketing remark (936 chars)

    Country Property with Exceptional Potential on 1.72 Acres Opportunity awaits with this hilltop acreage located on a hard-surfaced road just a few miles east of Sigourney. Situated on a picturesque 1.72-acre lot, this property offers a peaceful rural setting and scenic countryside views. The home features a new roof, septic in 2021 and a 3-car attached garage. The interior has been completely taken down to the studs, providing a clean slate for the next owner to design and finish the interior to their own specifications. With the demolition already completed, this property is well-suited for buyers seeking a renovation project with the freedom to choose materials, layout, and finishes. Ideal for those with vision, this property offers the chance to create a custom country home in a desirable location with convenient road access. A rare opportunity to add value and bring new life to a solid structure in a beautiful setting.

ⓘ 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: $1,248 · $104/mo
• Projected year-2 tax: $1,330 · $111/mo
• Expected delta: +$82/yr (+$7/mo · 6.5%)

ⓘ 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 ≥105°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: $15,084
• − Mortgage interest: −$5,036
• − Property taxes: −$1,248
• − Insurance: −$450
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$2,615
• Taxable income: $3,322
• Est. tax owed @ 24.0%: −$797
• After-tax cash flow: $3,764/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: Sigourney Community School District
• NCES district ID: 1926280
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $44,250
• Composite: 60.52/100
• National rank: #840
• State rank: #122 of 289 in IA

Livability — Sigourney

• Score: 79/100
• State rank: #108
• US rank: #2086

Category grades

Amenities F 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

• Population (ZIP): 2,646

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 3% English 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 47.08%
• Current HPI: 256.0682
• 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

-10.1% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $89,900 ICAARMLS
• 2026-01-21 Listed $100,000 ICAARMLS

Property tax history

+0.4%/yr

Latest (2025): $1,248 · -5.6% YoY. Source: county tax records.