11691 440th St

Laurens, IA 50554

$69,900B

4 bd · 2.5 ba · 3,000 sqft · Built 1954 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,068/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$259
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $218/mo
• Annual: $2,615/yr
• Cap rate: 10.03%
• Cash-on-cash: 13.36%
• DSCR: 1.59
• 1% rule: 1.53%
• Cash to close: $19,572

Investor read

• This is a 4-bed/2.5-bath single-family listed at $70k.
• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $90 of equity ($483 loan paydown + $-393 appreciation (-0.6% local appreciation)).
• Location reads 74/100 on livability (#248 in IA, #4,769 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Laurens-Marathon Community School District (rural): math 55% / reading 55% proficiency, ranked #311 of 330 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Laurens-Marathon Elementary School (math 74% / reading 54%, grade B, #317 of 616 statewide, top 58%, 140 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Watch-outs: property tax is 3.9% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 1 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.