407 Nelson St · Laurens, IA 50554

$59,000

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 321 Days on market

Built 1932 7,000 sqft lot $92/sqft · 334% above area

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.8/10.0
• Appreciation +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Small Footprint, Big Opportunity with Serious Garage Space. Don’t let the square footage fool you—this property has potential by offering manageable space ideal for investors, minimalists, or anyone ready to step into independence. A cozy loft provides bonus living by making smart use of every inch. And the real bonus? A 3-stall detached, concrete floor garage for added storage, hobbies, or future flex space. Whether you're starting your rental portfolio or simply want your own place (with plenty of room for toys or tools), this one brings more than meets the eye—all in a quiet small-town setting.

Key facts

• Cozy loft
• Bonus living
• Detached garage

Tags

• DETACHED GARAGE
• CONCRETE FLOOR GARAGE
• COZY LOFT
• BONUS LIVING
• QUIET SMALL-TOWN SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#248 in IA, #4,769 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Laurens-Marathon Community School District (rural): math 55% / reading 55% proficiency, ranked #311 of 330 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Laurens-Marathon Elementary School (math 74% / reading 54%, grade B, #317 of 616 statewide, top 58%, 140 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $76 of equity ($408 loan paydown + $-332 appreciation (-0.6% local appreciation)).
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 321 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 321 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 1932 — 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 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?
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: 1.19% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.09%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (median comp): $13,580
• List price: $59,000
• Delta: 334.45%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 E Arthur St	0.33mi	1/1.0 (-1)	664 (+4%)	12mo	$11,000	$17	63
314 N Harrison St	0.38mi	2/1.0	696 (+9%)	8mo	$7,800	$11	61

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

Projected returns pro-forma

-0.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.50×
• Total profit: $8,197
• Equity at exit: $15,492

10-year hold

• IRR: 16.2%
• Equity multiple: 2.69×
• Total profit: $27,913
• Equity at exit: $17,358

Cash invested: $16,520 (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 50554

• Home prices YoY: -0.5%
• Active inventory: 12
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $700 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$39 /mo · $466/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $180

Break-even live

Break-even rent $472

Max offer price $59,000

Occupancy floor 69%

Sensitivity live

Price	-10% $214	-5% $197	+0% $180	+5% $163	+10% $147
Rent	-10% $125	-5% $153	+0% $180	+5% $208	+10% $235
Rate	-1.0pp $210	-0.5pp $195	base $180	+0.5pp $165	+1.0pp $149

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Sadie St Unit 1 Laurens, IA	2.0	1.0	700	$700	$1.00	45d	1	0.87mi

Listing history 14 events

1. 2026-06-16
   days on market $59,000 Active 321 DOM
2. 2026-06-15
   days on market $59,000 Active 320 DOM
3. 2026-06-13
   days on market $59,000 Active 318 DOM
4. 2026-06-12
   days on market $59,000 Active 317 DOM
5. 2026-06-09
   days on market $59,000 Active 314 DOM
6. 2026-06-08
   days on market $59,000 Active 313 DOM
7. 2026-06-07
   days on market $59,000 Active 312 DOM
8. 2026-06-05
   days on market $59,000 Active 310 DOM
9. 2026-06-04
   days on market $59,000 Active 308 DOM
10. 2026-06-02
    days on market $59,000 Active 307 DOM
11. 2026-06-01
    days on market $59,000 Active 306 DOM
12. 2026-05-31
    days on market $59,000 Active 305 DOM
13. 2026-05-31
    days on market $59,000 Active 304 DOM
14. 2025-07-30
    listed $59,000 Active 622-char remark

    Show marketing remark (622 chars)

    Small Footprint, Big Opportunity with Serious Garage Space. Don’t let the square footage fool you—this property has potential by offering manageable space ideal for investors, minimalists, or anyone ready to step into independence. A cozy loft provides bonus living by making smart use of every inch. And the real bonus? A 3-stall detached, concrete floor garage for added storage, hobbies, or future flex space. Whether you're starting your rental portfolio or simply want your own place (with plenty of room for toys or tools), this one brings more than meets the eye—all in a quiet small-town 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: $466 · $39/mo
• Projected year-2 tax: $696 · $58/mo
• Expected delta: +$230/yr (+$19/mo · 49.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,400
• − Mortgage interest: −$3,305
• − Property taxes: −$466
• − Insurance: −$295
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$1,716
• Taxable income: $1,274
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $1,856/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: Laurens-Marathon Community School District
• NCES district ID: 1916420
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $42,146
• Composite: 48.0/100
• National rank: #4796
• State rank: #311 of 330 in IA

Livability — Laurens

• Score: 74/100
• State rank: #248
• US rank: #4769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurens, IA
• City population: 1,639
• Population (ZIP): 1,639

Population outlook (Pocahontas County) Hauer SSP2

• Today (2025): 6,624 people
• By 2030: 6,482 · -2.1%
• By 2040: 6,359 · -4.0%
• By 2050: 6,439 · -2.8%
• By 2075: 7,397 · +11.7%
• By 2100: 8,428 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Portuguese 4% Iranian 3% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Pocahontas

• 2024 margin: Solid R (+54.0) · D 22.3% · R 76.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: -8.4pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+49.5 2016: R+45.2 2012: R+21.8 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.56%
• Current HPI: 111.4699
• 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

1 event — show timeline

• 2025-07-30 Listed $59,000 Iowa Great Lakes BOR

Property tax history

+8.9%/yr

Latest (2025): $466 · +60.7% YoY. Source: county tax records.