506 Rock Is W · Knoxville, IA 50138

$94,000

2 bd · 1.0 ba · 715 sqft · SingleFamily public records · 7 Days on market

Built 1948 7,200 sqft lot Est $101k · 7% under

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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 +21.2/30.0
• ARV discount +10.5/15.0
• DSCR +6.8/10.0
• Schools +5.3/10.0
• 1% rule +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute and affordable 1-bedroom home conveniently located near the racetrack! This well-maintained property offers comfortable living with a spacious kitchen, a larger bathroom, and the added convenience of a handicap-accessible ramp. Outside, you'll find both a detached 1-car garage and a carport, providing plenty of covered parking and storage options. The decent-sized yard offers room for gardening, pets, or simply enjoying the outdoors. Whether you're looking for a starter home, investment property, or a place to downsize, this charming home is full of potential and ready for its next owner! 24 Hour Notice on ALL Showings required. Tenant is only allowing showings during the week from 5-8

Key facts

• Decent-sized yard
• Carport
• Detached garage

Tags

• HANDICAP-ACCESSIBLE RAMP
• DETACHED GARAGE
• CARPORT
• DECENT-SIZED YARD

Property features AI

Exterior

• Parking: Detached one-car garage; Carport
• Utilities: Public water; Public sewer
• Home design: Resale property
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Concrete road access; Lot dimensions approximately 60 x 120

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Bedrooms: 1 main-level bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Accessible approach with ramp; Accessible doors; Dining area; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $94k).
• Cap rate 8.0% vs local median 2.4% in Knoxville — 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 69/100 on livability (#406 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Knoxville Community School District (town): math 62% / reading 63% proficiency, ranked #220 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($75k/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 $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $67k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,000

Questions for the listing agent

1. Built in 1948 — 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: 1.02% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $100,815
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 W Jones St	0.22mi	2/1.0	780 (+9%)	10mo	$78,000	$100	67
918 W Washington St	0.68mi	2/1.5	748 (+5%)	2mo	$135,000	$180	57
106 S Park Lane Dr	0.72mi	2/1.0	738 (+3%)	6mo	$138,000	$187	56
121 S Park Lane Dr	0.72mi	2/1.0	728 (+2%)	11mo	$124,400	$171	54
110 S Conrey St	0.68mi	2/1.0	745 (+4%)	19mo	$80,000	$107	45
313 N Roche St	0.33mi	2/2.0	819 (+14%)	13mo	$120,000	$147	45
205 S Conrey St	0.71mi	2/1.0	792 (+11%)	5mo	$91,500	$116	45
1302 W Robinson St	0.65mi	2/1.0	648 (-9%)	19mo	$122,000	$188	38
1210 W Robinson St	0.64mi	2/1.0	816 (+14%)	13mo	$101,500	$124	36
1113 W Desmont Dr	0.43mi	3/1.0 (+1)	816 (+14%)	22mo	$115,000	$141	33
1113 W Desmont Dr	0.43mi	3/1.0 (+1)	816 (+14%)	22mo	$115,000	$141	33
1002 W South St	0.74mi	2/1.0	804 (+12%)	20mo	$35,000	$44	28

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-6,566
• Equity at exit: $14,016

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $5,432
• Equity at exit: $8,127

Cash invested: $26,320 (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 50138

• Home prices YoY: -25.3%
• Active inventory: 100
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $958 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $136

Break-even live

Break-even rent $786

Max offer price $94,000

Occupancy floor 81%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1870 W Pleasant St Unit 33 Knoxville, IA	2.0	1.0	740	$925	$1.25	43d	1	0.78mi

Listing history 7 events

1. 2026-06-19
   days on market $94,000 Active 7 DOM
2. 2026-06-18
   days on market $94,000 Active 6 DOM
3. 2026-06-17
   days on market $94,000 Active 5 DOM
4. 2026-06-16
   days on market $94,000 Active 4 DOM
5. 2026-06-15
   days on market $94,000 Active 3 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $94,000 Active 1 DOM

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$205/yr (+$17/mo · 19.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $11,500
• − Mortgage interest: −$5,265
• − Property taxes: −$1,066
• − Insurance: −$470
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$2,735
• Taxable income: $124
• Est. tax owed @ 24.0%: −$30
• After-tax cash flow: $1,604/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: Knoxville Community School District
• NCES district ID: 1915840
• Math proficiency: 62% ▼ -6.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $49,594
• Composite: 53.11/100
• National rank: #1512
• State rank: #220 of 289 in IA

Livability — Knoxville

• Score: 69/100
• State rank: #406
• US rank: #8643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knoxville, IA
• County: Marion County · 25,533 people
• City population: 11,117
• Metro: Pella, IA
• Population (ZIP): 11,117
• Household income: $74,693
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 122.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 12% Portuguese 4% Italian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.37%
• Current HPI: 237.7055
• Rent YoY: —
• Metro: Pella, 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

+168.6% since first listed

3 events — show timeline

• 2026-06-12 Listed $94,000 DMMLS
• 2023-08-28 Sold (Public Records) $67,000 Public Records
• 2004-04-22 Sold (Public Records) $35,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,066 · +50.6% YoY. Source: county tax records.