421 S 8th St · Albia, IA 52531

$67,500

4 bd · 1.0 ba · 1,152 sqft · Other · 65 Days on market

Built 1956 0.49 ac lot $59/sqft · 52% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 4-bedroom, 1-bath home featuring a large detached garage and plenty of room to spread out. Enjoy generous living space inside and out, all just minutes from downtown, parks, and local amenities.

Key facts

• 0.49 acre lot
• 2 garage spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $68k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $63k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#265 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Albia Community School District (town): math 68% / reading 77% proficiency, ranked #117 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 30 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($467 loan paydown + $7k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 65 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.50%
• DSCR: 1.96
• GRM: 5.1

CMA / ARV

• ARV (median comp): $139,871
• List price: $67,500
• Delta: -51.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 40.4%
• Equity multiple: 4.09×
• Total profit: $58,383
• Equity at exit: $60,809

10-year hold

• IRR: 34.8%
• Equity multiple: 9.21×
• Total profit: $155,080
• Equity at exit: $131,138

Cash invested: $18,900 (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 52531

• Home prices YoY: 23.6%
• Active inventory: 30
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$148 /mo · $1,782/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $339

Break-even live

Break-even rent $672

Max offer price $67,500

Occupancy floor 64%

Sensitivity live

Price	-10% $377	-5% $358	+0% $339	+5% $319	+10% $300
Rent	-10% $252	-5% $295	+0% $339	+5% $382	+10% $425
Rate	-1.0pp $373	-0.5pp $356	base $339	+0.5pp $321	+1.0pp $303

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $67,500 Active 65 DOM
2. 2026-06-21
   days on market $67,500 Active 64 DOM
3. 2026-06-18
   days on market $67,500 Active 62 DOM
4. 2026-06-17
   days on market $67,500 Active 61 DOM
5. 2026-06-16
   days on market $67,500 Active 60 DOM
6. 2026-06-15
   days on market $67,500 Active 59 DOM
7. 2026-06-13
   days on market $67,500 Active 57 DOM
8. 2026-06-12
   pricedays on market $67,500 Active 56 DOM
9. 2026-06-09
   days on market $72,500 Active 53 DOM
10. 2026-06-08
    days on market $72,500 Active 52 DOM
11. 2026-06-07
    days on market $72,500 Active 51 DOM
12. 2026-06-05
    days on market $72,500 Active 49 DOM
13. 2026-06-04
    days on market $72,500 Active 47 DOM
14. 2026-06-02
    days on market $72,500 Active 46 DOM
15. 2026-06-01
    days on market $72,500 Active 45 DOM
16. 2026-05-31
    days on market $72,500 Active 44 DOM
17. 2026-05-31
    days on market $72,500 Active 43 DOM
18. 2026-05-07
    price $72,500 203-char remark

    Show marketing remark (203 chars)

    Spacious 4-bedroom, 1-bath home featuring a large detached garage and plenty of room to spread out. Enjoy generous living space inside and out, all just minutes from downtown, parks, and local amenities.

19. 2026-04-17
    listed $74,900 Active 203-char remark

    Show marketing remark (203 chars)

    Spacious 4-bedroom, 1-bath home featuring a large detached garage and plenty of room to spread out. Enjoy generous living space inside and out, all just minutes from downtown, parks, and local amenities.

20. 2026-04-07
    price $74,900
21. 2026-03-10
    price $79,900
22. 2026-02-05
    price $82,500
23. 2026-01-06
    listed $84,900 Active
24. 2017-05-22
    soldstatus $69,875
25. 2017-05-18
    soldstatus $70,000
26. 2017-05-18
    soldstatus $70,000
27. 2017-02-17
    listed $79,900
28. 2017-02-17
    listed $79,900
29. 2010-05-26
    soldstatus $35,000
30. 2009-11-18
    listed $39,900

ⓘ 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: $1,782 · $148/mo
• Projected year-2 tax: $1,782 · $148/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 ≥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: $13,203
• − Mortgage interest: −$3,781
• − Property taxes: −$1,782
• − Insurance: −$338
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$1,964
• Taxable income: $3,226
• Est. tax owed @ 24.0%: −$774
• After-tax cash flow: $3,289/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: Albia Community School District
• NCES district ID: 1903270
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $44,429
• Composite: 60.88/100
• National rank: #814
• State rank: #117 of 289 in IA

Livability — Albia

• Score: 73/100
• State rank: #265
• US rank: #5139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albia, IA
• City population: 5,885
• Population (ZIP): 5,885

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 7,921 people
• By 2030: 7,918 · +-0.0%
• By 2040: 7,873 · -0.6%
• By 2050: 7,776 · -1.8%
• By 2075: 7,556 · -4.6%
• By 2100: 7,055 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 1%
• Common ancestry: Iranian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 2% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+50.7) · D 24.2% · R 74.9%
• 2008→2024 swing: -45.5pp toward R · 2008: -5.2pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+46.4 2016: R+41.2 2012: R+7.7 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 60.82%
• Current HPI: 318.4427
• 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

+81.7% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $72,500 DMMLS
• 2026-04-17 Listed $74,900 DMMLS
• 2026-04-07 Price Changed $74,900 IAR
• 2026-03-10 Price Changed $79,900 IAR
• 2026-02-05 Price Changed $82,500 IAR
• 2026-01-06 Listed $84,900 IAR
• 2017-05-22 Sold (Public Records) $69,875 Public Records
• 2017-05-18 Sold (MLS) $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-18 Sold (MLS) $70,000 IAR
• 2017-02-17 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-17 Listed $79,900 IAR
• 2010-05-26 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-18 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $1,782 · +11.5% YoY. Source: county tax records.