8321 L Ave · Fayette, IA 52142

$49,900

4 bd · 1.0 ba · 1,800 sqft · SingleFamily public records · 6 Days on market

Built 1923 1.78 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two story four bedroom one bath property sits on 1.78 acres. Full, stone and earthen basement. There is a 21 x 14 bin and a utility building measuring 28 x 80 on the property. Property needs attention! Buyers agent submits offers online. All information believed accurate but not guaranteed.

Key facts

• 1.78 acres
• 21 x 14 bin
• Utility building

Tags

• STONE AND EARTHEN BASEMENT
• UTILITY BUILDING
• 21 X 14 BIN
• 1.78 ACRES

Property features AI

Finance

• Financial info: Annual property tax approximately $1,240

Exterior

• Parking: See remarks for parking information
• Home design: Single-family residence; Two levels (2 stories)
• Construction: Wood siding exterior
• Exterior features: Lot of about 1.78 acres

Interior

• Bathrooms: One full bathroom
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 73/100 on livability (#264 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• West Central Community School District (rural): math 65% / reading 65% proficiency, ranked #231 of 330 in IA (top 70%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Central Pk - 8 School (math 52% / reading 62%, grade C+, #436 of 616 statewide, top 74%, 239 students, 44% FRL); West Central Charter High School (math 64% / reading 74%, grade B, #152 of 336 statewide, top 52%, 82 students, 51% FRL, charter).
• Market conditions: 1 active listings in the ZIP; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($345 loan paydown + $3k appreciation (6.0% local appreciation)).
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.59% ✓
• Cap rate: 21.83%
• Cash-on-cash: 55.50%
• DSCR: 3.47
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.8%
• Equity multiple: 4.97×
• Total profit: $55,521
• Equity at exit: $31,279

10-year hold

• IRR: 60.8%
• Equity multiple: 10.39×
• Total profit: $131,181
• Equity at exit: $56,646

Cash invested: $13,972 (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 52142

• Home prices YoY: 3.2%
• Active inventory: 1
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $646

Break-even live

Break-even rent $475

Max offer price $49,900

Occupancy floor 45%

Sensitivity live

Price	-10% $674	-5% $660	+0% $646	+5% $632	+10% $618
Rent	-10% $544	-5% $595	+0% $646	+5% $697	+10% $748
Rate	-1.0pp $671	-0.5pp $659	base $646	+0.5pp $633	+1.0pp $620

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-02
   remarks 340-char remark
2. 2026-06-02
   days on market $49,900 Active 6 DOM
3. 2026-06-01
   days on market $49,900 Active 5 DOM
4. 2026-05-31
   days on market $49,900 Active 4 DOM
5. 2026-05-30
   days on market $49,900 Active 3 DOM
6. 2026-05-27
   listed $49,900 Active

   Show marketing remark (291 chars)

   Two story four bedroom one bath property sits on 1.78 acres. Full, stone and earthen basement. There is a 21 x 14 bin and a utility building measuring 28 x 80 on the property. Property needs attention! Buyers agent submits offers online. All information believed accurate but not guaranteed.

7. 2026-05-27
   listed $49,900 Active 291-char remark

   Show marketing remark (291 chars)

   Two story four bedroom one bath property sits on 1.78 acres. Full, stone and earthen basement. There is a 21 x 14 bin and a utility building measuring 28 x 80 on the property. Property needs attention! Buyers agent submits offers online. All information believed accurate but not guaranteed.

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,118 · $93/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 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: $15,522
• − Mortgage interest: −$2,795
• − Property taxes: −$1,118
• − Insurance: −$250
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$1,452
• Taxable income: $7,424
• Est. tax owed @ 24.0%: −$1,782
• After-tax cash flow: $5,973/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: West Central Community School District
• NCES district ID: 1930870
• Math proficiency: 65% ▼ -15.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $52,875
• Composite: 56.9/100
• National rank: #2381
• State rank: #231 of 330 in IA

Livability — Fayette

• Score: 73/100
• State rank: #264
• US rank: #5088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,992

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 6% Black 5% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Iranian 2% Lithuanian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 92% English-only · Chinese 3% Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.97%
• Current HPI: 192.8037
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $49,900 CRAAR, CDRMLS
• 2026-05-27 Listed $49,900 NEIRBR as distributed by MLS GRID

Property tax history

+1.8%/yr

Latest (2025): $1,118 · +2.2% YoY. Source: county tax records.