1211 Franklin St · Keokuk, IA 52632

$34,700

3 bd · 1.0 ba · 1,071 sqft · SingleFamily public records · 143 Days on market

Built 1890 3,080 sqft lot $32/sqft · 47% below area Est $66k · 47% under ↓ 11% since listing

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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 +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a reasonably priced home including a full walkout basement with access to the one car garage and boasting several updates? Check out this 3 bedroom one bath home listed at a GREAT PRICE!! Recent upgrades include electrical wiring and new meter box in 2024. The curb box was updated in 2024. The roof was a complete tear off and replaced within the past few years. Windows have been replaced. The spacious enclosed front porch leads to a nice sized living room, dining room and kitchen. The bathroom has been gutted and waiting for the new owner to design and install, giving way to your own creativity and style. The home needs some finishing but is priced accordingly. Selling "As Is Where Is". Don't let this opportunity slip through your fingers!

Key facts

• Updated curb box
• New meter box
• Access to garage

Tags

• FULL WALKOUT BASEMENT
• ACCESS TO GARAGE
• UPDATED ELECTRICAL WIRING
• NEW METER BOX
• UPDATED CURB BOX
• COMPLETE ROOF REPLACEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($768 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 8.2% in Keokuk — 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 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $240 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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: property tax is 2.9% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,536 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1890 — 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. 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: 2.21% ✓
• Cap rate: 17.61%
• Cash-on-cash: 40.42%
• DSCR: 2.80
• GRM: 3.8

CMA / ARV

• ARV (median comp): $65,678
• List price: $34,700
• Delta: -47.17%
• 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
1218 Fulton St	0.10mi	2/2.0 (-1)	1,084 (+1%)	4mo	$8,000	$7	81
209 N 14th St	0.29mi	3/1.0	1,026 (-4%)	4mo	$27,500	$27	76
1025 Leighton St	0.18mi	2/1.0 (-1)	1,124 (+5%)	6mo	$105,500	$94	73
1528 Franklin St	0.25mi	3/1.5	1,140 (+6%)	4mo	$131,000	$115	73
508 N 9th St	0.23mi	2/2.0 (-1)	1,112 (+4%)	4mo	$88,000	$79	70
722 Concert St	0.45mi	2/1.5 (-1)	1,042 (-3%)	4mo	$24,000	$23	65
1620 Johnson St	0.60mi	2/1.0 (-1)	1,082 (+1%)	1mo	$20,000	$18	64
1721 Johnson St	0.62mi	3/1.0	1,142 (+7%)	5mo	$30,000	$26	56
1901 Plank Rd	0.54mi	3/1.0	986 (-8%)	8mo	$109,500	$111	55
1307 Timea St	0.71mi	3/1.0	1,126 (+5%)	5mo	$6,000	$5	54
1409 Johnson St	0.51mi	3/1.0	915 (-15%)	7mo	$33,000	$36	46
1707 Park View Hts	0.42mi	4/2.0 (+1)	1,219 (+14%)	3mo	$190,000	$156	46

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: 36.9%
• Equity multiple: 2.57×
• Total profit: $15,259
• Equity at exit: $5,174

10-year hold

• IRR: 43.5%
• Equity multiple: 5.15×
• Total profit: $40,276
• Equity at exit: $3,000

Cash invested: $9,716 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $768 medium
• Mortgage (P&I): −$182
• Tax from tax record: −$83 /mo · $996/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $327

Break-even live

Break-even rent $354

Max offer price $34,700

Occupancy floor 52%

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: $8,675
• Closing costs: $1,041
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Richards Dr Unit 1-8 Keokuk, IA	2.0	1.0	725	$795	$1.10	43d	1	0.62mi
212 Washington St Keokuk, IA	1.0–2.0	1.0	632	$715	$1.13	43d	1	1.07mi

Listing history 22 events

1. 2026-06-18
   days on market $34,700 Active 143 DOM
2. 2026-06-17
   days on market $34,700 Active 142 DOM
3. 2026-06-16
   days on market $34,700 Active 141 DOM
4. 2026-06-15
   days on market $34,700 Active 140 DOM
5. 2026-06-13
   days on market $34,700 Active 138 DOM
6. 2026-06-12
   days on market $34,700 Active 137 DOM
7. 2026-06-09
   days on market $34,700 Active 134 DOM
8. 2026-06-08
   days on market $34,700 Active 133 DOM
9. 2026-06-07
   days on market $34,700 Active 132 DOM
10. 2026-06-07
    days on market $34,700 Active 131 DOM
11. 2026-06-04
    days on market $34,700 Active 128 DOM
12. 2026-06-02
    days on market $34,700 Active 127 DOM
13. 2026-06-01
    days on market $34,700 Active 126 DOM
14. 2026-05-31
    days on market $34,700 Active 125 DOM
15. 2026-05-31
    days on market $34,700 Active 124 DOM
16. 2026-05-17
    price $34,700 776-char remark

    Show marketing remark (776 chars)

    Looking for a reasonably priced home including a full walkout basement with access to the one car garage and boasting several updates? Check out this 3 bedroom one bath home listed at a GREAT PRICE!! Recent upgrades include electrical wiring and new meter box in 2024. The curb box was updated in 2024. The roof was a complete tear off and replaced within the past few years. Windows have been replaced. The spacious enclosed front porch leads to a nice sized living room, dining room and kitchen. The bathroom has been gutted and waiting for the new owner to design and install, giving way to your own creativity and style. The home needs some finishing but is priced accordingly. Selling "As Is Where Is". Don't let this opportunity slip through your fingers!

17. 2026-01-27
    listed $36,000 Active 776-char remark

    Show marketing remark (776 chars)

    Looking for a reasonably priced home including a full walkout basement with access to the one car garage and boasting several updates? Check out this 3 bedroom one bath home listed at a GREAT PRICE!! Recent upgrades include electrical wiring and new meter box in 2024. The curb box was updated in 2024. The roof was a complete tear off and replaced within the past few years. Windows have been replaced. The spacious enclosed front porch leads to a nice sized living room, dining room and kitchen. The bathroom has been gutted and waiting for the new owner to design and install, giving way to your own creativity and style. The home needs some finishing but is priced accordingly. Selling "As Is Where Is". Don't let this opportunity slip through your fingers!

18. 2025-09-24
    price $36,000
19. 2025-05-31
    listed $39,900 Active
20. 2017-05-10
    soldstatus $34,900
21. 2016-10-05
    listed $34,900
22. 2014-01-04
    listed $39,000

ⓘ 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: $996 · $83/mo
• Projected year-2 tax: $996 · $83/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 ≥106°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: $9,216
• − Mortgage interest: −$1,944
• − Property taxes: −$996
• − Insurance: −$174
• − Repairs & maintenance: −$737
• − Management: −$737
• − Depreciation: −$1,009
• Taxable income: $3,619
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $3,059/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -41.80%
• Current HPI: 122.2866
• 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

-11.0% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $34,700 IAR
• 2026-01-27 Listed $36,000 IAR
• 2025-09-24 Price Changed $36,000 IAR
• 2025-05-31 Listed $39,900 IAR
• 2017-05-10 Sold (Public Records) $34,900 Public Records
• 2016-10-05 Listed $34,900 IAR
• 2014-01-04 Listed $39,000 IAR

Property tax history

+3.4%/yr

Latest (2025): $996 · +44.3% YoY. Source: county tax records.