706 Glenwood Ave · Ottumwa, IA 52501

$60,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 28 Days on market

Built 1940

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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
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

We are selling as is. Recent remodeled kitchen and bathroom and new windows. It does need repairs. Foundation needs work, front steps need replaced, needs new carpet and some other minor repairs. All appliances in kitchen included except stove. Call or message Tim for more info. 641-575-5480

Key facts

• Remodeled bathroom
• Remodeled kitchen
• New windows

Tags

• REMODELED KITCHEN
• REMODELED BATHROOM
• NEW WINDOWS
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 5.9% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. Crime grade is D 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?
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: 2.09% ✓
• Cap rate: 17.91%
• Cash-on-cash: 41.48%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $128,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Minnesota St	0.09mi	3/1.0 (+1)	1,037 (-2%)	7mo	$105,000	$101	82
134 Minnesota St	0.10mi	3/1.0 (+1)	1,015 (-4%)	3mo	$100,000	$99	82
546 Minnesota St	0.27mi	3/1.0 (+1)	994 (-6%)	4mo	$72,000	$72	69
419 S Pocahontas St	0.21mi	3/2.0 (+1)	1,008 (-4%)	5mo	$144,000	$143	69
430 S Pocahontas St	0.21mi	3/1.0 (+1)	950 (-10%)	1mo	$75,000	$79	68
519 W Finley Ave	0.23mi	3/1.0 (+1)	1,196 (+13%)	1mo	$127,500	$107	61
1319 Glenwood Ave	0.58mi	3/2.0 (+1)	1,040 (-2%)	1mo	$174,000	$167	60
433 W Finley Ave	0.27mi	3/1.5 (+1)	950 (-10%)	6mo	$129,500	$136	58
321 Hackworth St	0.57mi	3/1.0 (+1)	988 (-6%)	2mo	$121,000	$122	57
1018 W Mary St	0.51mi	3/3.0 (+1)	1,044 (-1%)	7mo	$205,000	$196	56
249 S Ransom St	0.48mi	2/2.0	1,162 (+10%)	3mo	$147,000	$127	54
1513 W Finley Ave	0.60mi	2/1.0	940 (-11%)	2mo	$115,000	$122	52

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: 38.1%
• Equity multiple: 2.62×
• Total profit: $27,286
• Equity at exit: $8,946

10-year hold

• IRR: 44.6%
• Equity multiple: 5.25×
• Total profit: $71,462
• Equity at exit: $5,188

Cash invested: $16,800 (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 52501

• Active inventory: 186
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$72 /mo · $868/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $581

Break-even live

Break-even rent $521

Max offer price $60,000

Occupancy floor 49%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Minneopa Ave Unit 203 Ottumwa, IA	2.0	1.0	700	$1,150	$1.64	43d	1	0.87mi
420 Minneopa Ave Unit 204 Ottumwa, IA	2.0	1.0	800	$1,350	$1.69	43d	1	0.87mi

Listing history 16 events

1. 2026-06-17
   status $60,000 Under Contract 28 DOM
2. 2026-06-16
   days on market $60,000 Active 28 DOM
3. 2026-06-15
   days on market $60,000 Active 27 DOM
4. 2026-06-13
   days on market $60,000 Active 25 DOM
5. 2026-06-12
   days on market $60,000 Active 24 DOM
6. 2026-06-09
   days on market $60,000 Active 21 DOM
7. 2026-06-08
   days on market $60,000 Active 20 DOM
8. 2026-06-07
   days on market $60,000 Active 19 DOM
9. 2026-06-07
   days on market $60,000 Active 18 DOM
10. 2026-06-04
    days on market $60,000 Active 15 DOM
11. 2026-06-02
    days on market $60,000 Active 14 DOM
12. 2026-06-01
    days on market $60,000 Active 13 DOM
13. 2026-05-31
    days on market $60,000 Active 12 DOM
14. 2026-05-31
    days on market $60,000 Active 11 DOM
15. 2026-05-20
    listed $60,000 Active
16. 2008-08-18
    soldstatus $50,000

ⓘ 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: $868 · $72/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$37/yr (+$3/mo · 4.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,080
• − Mortgage interest: −$3,361
• − Property taxes: −$868
• − Insurance: −$300
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$1,745
• Taxable income: $6,393
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $5,435/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+20.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $60,000 FSBO.com
• 2008-08-18 Sold (Public Records) $50,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $868 · +11.0% YoY. Source: county tax records.