302 G St · Fort Dodge, IA 50501

$13,500

3 bd · 2.5 ba · 1,248 sqft · MultiFamily public records · 38 Days on market

Built 1916 ↓ 21% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Squatters got into it and recked it so it is trashed selling as is

Key facts

• Built 1916
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $14k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($828 rent vs $14k).
• Recommended offer: $13k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#348 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities D-.
• Fort Dodge Community School District (town): math 44% / reading 53% proficiency, ranked #285 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 25 units permitted in Webster County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($67k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $93 of loan paydown is wiped out by about $405 of value loss. Plan a longer hold.
• Webster County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $13,095 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 6.14% ✓
• Cap rate: 55.99%
• Cash-on-cash: 177.51%
• DSCR: 8.90
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.85×
• Total profit: $33,438
• Equity at exit: $2,013

10-year hold

• IRR: —
• Equity multiple: 20.85×
• Total profit: $75,029
• Equity at exit: $1,167

Cash invested: $3,780 (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 50501

• Home prices YoY: -33.1%
• Active inventory: 36
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $828 medium
• Mortgage (P&I): −$71
• Tax from tax record: −$19 /mo · $226/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $559

Break-even live

Break-even rent $121

Max offer price $13,500

Occupancy floor 28%

Sensitivity live

Price	-10% $567	-5% $563	+0% $559	+5% $555	+10% $552
Rent	-10% $494	-5% $526	+0% $559	+5% $592	+10% $625
Rate	-1.0pp $566	-0.5pp $563	base $559	+0.5pp $556	+1.0pp $552

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: $3,375
• Closing costs: $405
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
741 Westridge Rd Fort Dodge, IA	2.0	1.5	880	$775	$0.88	44d	1	0.18mi
516 Central Ave Unit 516 Fort Dodge, IA	2.0	1.0	900	$675	$0.75	44d	1	0.57mi
1020 Central Ave Unit 1020-06 Fort Dodge, IA	2.0	1.0	900	$625	$0.69	44d	1	0.85mi
1626 4th Ave S Fort Dodge, IA	2.0	1.0	960	$825	$0.86	44d	1	1.15mi

Listing history 24 events

1. 2026-06-19
   days on market $13,500 Active 38 DOM
2. 2026-06-18
   days on market $13,500 Active 37 DOM
3. 2026-06-17
   days on market $13,500 Active 36 DOM
4. 2026-06-16
   days on market $13,500 Active 35 DOM
5. 2026-06-15
   days on market $13,500 Active 34 DOM
6. 2026-06-14
   days on market $13,500 Active 32 DOM
7. 2026-06-12
   days on market $13,500 Active 31 DOM
8. 2026-06-09
   days on market $13,500 Active 28 DOM
9. 2026-06-08
   days on market $13,500 Active 27 DOM
10. 2026-06-07
    days on market $13,500 Active 26 DOM
11. 2026-06-05
    days on market $13,500 Active 23 DOM
12. 2026-06-03
    days on market $13,500 Active 22 DOM
13. 2026-06-02
    days on market $13,500 Active 21 DOM
14. 2026-06-01
    days on market $13,500 Active 20 DOM
15. 2026-05-31
    days on market $13,500 Active 19 DOM
16. 2026-05-30
    days on market $13,500 Active 18 DOM
17. 2026-05-12
    listed $13,500 Active 66-char remark
18. 2026-04-20
    price $20,000
19. 2026-04-06
    listed $30,000 Active
20. 2024-04-03
    soldstatus $15,000
21. 2023-07-07
    soldstatus $15,000
22. 2011-11-25
    soldstatus $16,100
23. 2006-11-15
    soldstatus $17,000
24. 2006-11-15
    soldstatus $17,000

ⓘ 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: $226 · $19/mo
• Projected year-2 tax: $226 · $19/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 2/10 Low 7 d/yr ≥102°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: $9,940
• − Mortgage interest: −$756
• − Property taxes: −$226
• − Insurance: −$68
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$393
• Taxable income: $6,907
• Est. tax owed @ 24.0%: −$1,658
• After-tax cash flow: $5,052/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 Dodge Community School District
• NCES district ID: 1911820
• Math proficiency: 44% ▼ -3.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $39,807
• Composite: 40.54/100
• National rank: #3700
• State rank: #285 of 289 in IA

Livability — Fort Dodge

• Score: 71/100
• State rank: #348
• US rank: #7116

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Dodge, IA
• County: Webster County · 28,823 people
• City population: 28,823
• Metro: Fort Dodge, IA
• Population (ZIP): 28,823
• Household income: $66,888
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 673.0

Population outlook (Webster County) Hauer SSP2

• Today (2025): 35,895 people
• By 2030: 35,334 · -1.6%
• By 2040: 34,073 · -5.1%
• By 2050: 33,264 · -7.3%
• By 2075: 32,560 · -9.3%
• By 2100: 30,786 · -14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Slovak 2% Iranian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% French/Haitian/Cajun 0%

Political lean MEDSL · Webster

• 2024 margin: Solid R (+31.2) · D 33.8% · R 65.0% · Other 1.3%
• 2008→2024 swing: -39.7pp toward R · 2008: 8.5pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+24.3 2016: R+21.8 2012: D+5.5 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.63%
• Current HPI: 193.5846
• Rent YoY: —
• Metro: Fort Dodge, IA
• 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

-20.6% since first listed

8 events — show timeline

• 2026-05-12 Listed $13,500 FSBO.com
• 2026-04-20 Price Changed $20,000 IAR
• 2026-04-06 Listed $30,000 IAR
• 2024-04-03 Sold (Public Records) $15,000 Public Records
• 2023-07-07 Sold (Public Records) $15,000 Public Records
• 2011-11-25 Sold (Public Records) $16,100 Public Records
• 2006-11-15 Sold (Public Records) $17,000 Public Records
• 2006-11-15 Sold (Public Records) $17,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $226 · -47.2% YoY. Source: county tax records.