1413 Avenue H · Fort Madison, IA 52627

$40,000

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 10 Days on market

Built 1898 6,970 sqft lot $29/sqft · 33% below area Est $60k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 1-bath home with a spacious yard and oversized detached 1-car garage (18’ x 22’). The home features a good-sized kitchen with plenty of potential and outdoor space to enjoy. Being sold as-is, making it a great opportunity to add your personal touch! Call your favorite Realtor today!

Key facts

• 6,970 sq ft lot
• Garage
• Built 1898

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer; Other water source
• Home design: One and one-half story single-family home; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 0.16 acres (50 x 140)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 25.2% vs local median 5.3% in Fort Madison — 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 75/100 on livability (#230 in IA, #4,353 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment D-.
• Fort Madison Community School District (town): math 55% / reading 58% proficiency, ranked #260 of 289 in IA (top 90%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 64 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.02% ✓
• Cap rate: 25.17%
• Cash-on-cash: 67.41%
• DSCR: 4.00
• GRM: 2.8

CMA / ARV

• ARV (median comp): $59,912
• List price: $40,000
• Delta: -33.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1503 Avenue G	0.10mi	3/1.0	1,343 (-1%)	5mo	$23,500	$17	90
1312 Ave C	0.34mi	3/1.0	1,334 (-2%)	10mo	$142,500	$107	72
1109 Avenue G	0.31mi	2/1.5 (-1)	1,312 (-4%)	6mo	$129,000	$98	67
1216 Avenue G	0.19mi	2/1.0 (-1)	1,506 (+11%)	8mo	$123,000	$82	62
1510 Avenue C	0.34mi	3/2.0	1,464 (+8%)	8mo	$147,500	$101	61
1735 Avenue E	0.40mi	3/1.0	1,488 (+9%)	7mo	$85,000	$57	60
1627 Avenue I	0.24mi	4/1.0 (+1)	1,236 (-9%)	12mo	$10,000	$8	59
1602 Avenue M	0.36mi	2/1.5 (-1)	1,234 (-9%)	7mo	$55,000	$45	55
303 16th Street St	0.37mi	2/1.0 (-1)	1,209 (-11%)	11mo	$99,500	$82	50
20 Sunnyside Dr	0.50mi	3/1.0	1,536 (+13%)	9mo	$95,000	$62	48
2003 Avenue H	0.55mi	2/1.0 (-1)	1,478 (+9%)	11mo	$80,000	$54	46
2117 Avenue H	0.66mi	2/2.0 (-1)	1,545 (+14%)	10mo	$147,000	$95	30

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: 66.8%
• Equity multiple: 4.00×
• Total profit: $33,640
• Equity at exit: $5,964

10-year hold

• IRR: 71.0%
• Equity multiple: 8.24×
• Total profit: $81,091
• Equity at exit: $3,458

Cash invested: $11,200 (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 52627

• Home prices YoY: -28.6%
• Active inventory: 64
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $629

Break-even live

Break-even rent $413

Max offer price $40,000

Occupancy floor 43%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-15
   listed $40,000 Active 306-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: $1,196 · $100/mo
• Projected year-2 tax: $1,196 · $100/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,511
• − Mortgage interest: −$2,241
• − Property taxes: −$1,196
• − Insurance: −$200
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$1,164
• Taxable income: $7,389
• Est. tax owed @ 24.0%: −$1,773
• After-tax cash flow: $5,777/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: Fort Madison Community School District
• NCES district ID: 1911850
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $46,801
• Composite: 47.87/100
• National rank: #2218
• State rank: #260 of 289 in IA

Livability — Fort Madison

• Score: 75/100
• State rank: #230
• US rank: #4353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Madison, IA
• Population (ZIP): 12,585

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Slovak 2% Portuguese 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.32%
• Current HPI: 175.7708
• 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

• 2026-05-26 Pending — IAR
• 2026-05-15 Listed $40,000 IAR

Property tax history

+3.3%/yr

Latest (2025): $1,196 · +1.4% YoY. Source: county tax records.