9128 Woodmayr Dr · Norwalk, IA 50211

$175,000

3 bd · 1.5 ba · 1,813 sqft · SingleFamily public records · 108 Days on market

Built 1967 7,475 sqft lot $19/mo HOA · 1% of rent ↓ 25% since listing

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Why this score? — see what drove the C 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +6.7/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Lakewood Community with all the amenities of boating, swimming, playground, fishing and family fun. Split foyer offers a lot of living space. Property is being sold as is and needs TLC

Key facts

• 7,475 sq ft lot
• Built 1967
• Listed 108 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.0% in Norwalk — 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 76/100 on livability (#187 in IA, #3,367 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Norwalk Community School District (suburban): math 76% / reading 76% proficiency, ranked #39 of 289 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 438 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); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-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?
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 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: 1.15% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $368,039
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1164 Columbine Ct	0.30mi	3/2.0	1,723 (-5%)	4mo	$350,000	$203	72
9360 Brooks Pl	0.24mi	3/3.0	1,997 (+10%)	3mo	$450,713	$226	64
4800 Candlewick Dr	0.37mi	3/1.0	1,574 (-13%)	7mo	$236,000	$150	53
1900 Waller Ave	0.66mi	4/2.5 (+1)	1,809 (-0%)	10mo	$359,990	$199	51
2009 Waller Ave	0.68mi	4/2.5 (+1)	1,809 (-0%)	10mo	$359,990	$199	51
9401 Happy Hollow Dr	0.49mi	3/3.5	1,941 (+7%)	11mo	$326,000	$168	49
5031 Oak Creek Dr	0.72mi	3/2.5	1,973 (+9%)	2mo	$365,000	$185	46
5030 Oakcreek Dr	0.73mi	4/3.5 (+1)	1,884 (+4%)	10mo	$349,900	$186	38
2717 Lexington Dr	0.67mi	4/3.0 (+1)	1,662 (-8%)	8mo	$540,000	$325	37
9401 Bellflower Ln	0.63mi	4/3.0 (+1)	1,659 (-8%)	11mo	$570,000	$344	36
3013 Lund St	0.68mi	3/2.5	1,565 (-14%)	10mo	$342,490	$219	33
9322 Bellflower Ln	0.66mi	4/3.0 (+1)	1,622 (-10%)	10mo	$539,500	$333	32

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: -6.6%
• Equity multiple: 0.75×
• Total profit: $-12,013
• Equity at exit: $26,093

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $10,881
• Equity at exit: $15,131

Cash invested: $49,000 (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 50211

• Active inventory: 438
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$324 /mo · $3,888/yr
• Insurance: −$73
• HOA: −$19
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $255

Break-even live

Break-even rent $1,688

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $354	-5% $304	+0% $255	+5% $205	+10% $156
Rent	-10% $96	-5% $176	+0% $255	+5% $334	+10% $414
Rate	-1.0pp $343	-0.5pp $299	base $255	+0.5pp $210	+1.0pp $163

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3026 Myron St Norwalk, IA	3.0	2.0	1390	$2,350	$1.69	44d	1	0.84mi
1707 Ashwood Ave Norwalk, IA	3.0	2.5	1588	$2,195	$1.38	44d	1	1.18mi
3103 Bracken Pl Norwalk, IA	3.0	2.5	1465	$2,100	$1.43	15d	1	1.22mi
1451 High Rd Norwalk, IA	3.0	2.5	1564	$1,970	$1.26	3d	2	1.24mi

HOA detail

• Monthly dues: $19 · $228/yr

Listing history 5 events

1. 2026-03-04
   soldstatus $167,500
2. 2026-01-15
   status Pending
3. 2026-01-09
   price $175,000
4. 2025-11-11
   price $199,000
5. 2025-09-29
   listed $224,000 Active

ⓘ 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: $3,888 · $324/mo
• Projected year-2 tax: $3,888 · $324/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 3/10 Moderate 7 d/yr ≥103°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: $24,130
• − Mortgage interest: −$9,803
• − Property taxes: −$3,888
• − Insurance: −$875
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − HOA: −$228
• − Depreciation: −$5,091
• Taxable income: $385
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $2,967/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: Norwalk Community School District
• NCES district ID: 1921240
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $76,652
• Composite: 66.9/100
• National rank: #401
• State rank: #39 of 289 in IA

Livability — Norwalk

• Score: 76/100
• State rank: #187
• US rank: #3367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwalk, IA
• County: Warren County · 16,835 people
• City population: 16,835
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 16,835
• Household income: $103,712
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 157.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 4% Italian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.74%
• Current HPI: 206.2899
• Rent YoY: —
• Metro: Des Moines-West Des Moines, 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

-25.2% since first listed

5 events — show timeline

• 2026-03-04 Sold (Public Records) $167,500 Public Records
• 2026-01-15 Pending — DMMLS
• 2026-01-09 Price Changed $175,000 DMMLS
• 2025-11-11 Price Changed $199,000 DMMLS
• 2025-09-29 Listed $224,000 DMMLS

Property tax history

+2.7%/yr

Latest (2025): $3,888 · +0.3% YoY. Source: county tax records.