467 Rohr St · Arnolds Park, IA 51331

$450,000

3 bd · 2.5 ba · 3,114 sqft · SingleFamily public records · 53 Days on market

Built 1984 9,365 sqft lot $145/sqft · 68% below area

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

On the Bike Trails, along with walking to Arnolds Park Amusement Park, Swim Beaches and all the Area Attractions sits this Wonderful 3 Bedroom, 3 Bath Home. Lower Level Walk-out with Family Room, 3rd Bedroom, 3rd Bath and 2nd Kitchen. Separate Entrance from the Garage to Lower Level could make this a 2 Family Home! You won't believe all the Storage! 2 more extra rooms in the Lower Level plus a Storm Shelter!

Key facts

• Easy access
• Income potential
• Prime location

Tags

• PRIME LOCATION
• BOAT RAMPS
• SEPARATE LOWER-LEVEL ENTRANCE
• MULTI-GENERATIONAL LIVING
• INCOME POTENTIAL
• EASY ACCESS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Block construction; Asphalt roof; Full finished below-grade area
• Exterior features: Deck; Public-maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bathrooms: One full bathroom; Two three-quarter bathrooms
• Heating & cooling: Natural gas heating; Baseboard heating; Central air conditioning
• Interior features: Finished full basement with walk-out access
• Laundry & utility: Washer; Dryer; Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (71.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (70.7% below list).
• Recommended offer: $130k (71.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 78/100 on livability (#140 in IA, #2,548 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Okoboji Community School District (town): math 78% / reading 80% proficiency, ranked #40 of 289 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Okoboji Elementary School (math 82% / reading 67%, grade A, #131 of 616 statewide, top 27%, 533 students, 40% FRL); Okoboji Middle School (math 83% / reading 82%, grade A+, #16 of 246 statewide, top 8%, 346 students, 36% FRL); Okoboji High School (math 68% / reading 85%, grade A-, #73 of 336 statewide, top 22%, 365 students, 37% FRL).
• Market conditions: 81 active listings in the ZIP; 295 units permitted in Dickinson County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Dickinson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; list at $450k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,745 (71.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 71% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.29% ✗
• Cap rate: 1.46%
• Cash-on-cash: -17.27%
• DSCR: 0.23
• GRM: 28.4

CMA / ARV

• ARV (median comp): $1,108,014
• List price: $450,000
• Delta: -59.39%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
160 Park Pl	0.61mi	4/4.0 (+1)	2,939 (-6%)	7mo	$2,750,000	$936	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 2.03×
• Total profit: $129,481
• Equity at exit: $405,396

10-year hold

• IRR: 12.9%
• Equity multiple: 4.74×
• Total profit: $471,828
• Equity at exit: $874,251

Cash invested: $126,000 (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 51331

• Home prices YoY: 10.3%
• Active inventory: 81
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$308 /mo · $3,690/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-1,813

Break-even live

Break-even rent $3,614

Max offer price $129,745

Occupancy floor —

Sensitivity live

Price	-10% $-1,558	-5% $-1,686	+0% $-1,813	+5% $-1,940	+10% $-2,068
Rent	-10% $-1,917	-5% $-1,865	+0% $-1,813	+5% $-1,761	+10% $-1,709
Rate	-1.0pp $-1,586	-0.5pp $-1,698	base $-1,813	+0.5pp $-1,930	+1.0pp $-2,048

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $450,000 Active 53 DOM
2. 2026-06-21
   days on market $450,000 Active 52 DOM
3. 2026-06-21
   days on market $450,000 Active 51 DOM
4. 2026-06-18
   days on market $450,000 Active 49 DOM
5. 2026-06-17
   days on market $450,000 Active 48 DOM
6. 2026-06-16
   days on market $450,000 Active 47 DOM
7. 2026-06-15
   days on market $450,000 Active 46 DOM
8. 2026-06-13
   days on market $450,000 Active 44 DOM
9. 2026-06-12
   days on market $450,000 Active 43 DOM
10. 2026-06-09
    days on market $450,000 Active 40 DOM
11. 2026-06-08
    days on market $450,000 Active 39 DOM
12. 2026-06-07
    days on market $450,000 Active 38 DOM
13. 2026-06-07
    days on market $450,000 Active 37 DOM
14. 2026-06-04
    days on market $450,000 Active 34 DOM
15. 2026-06-02
    days on market $450,000 Active 33 DOM
16. 2026-06-01
    days on market $450,000 Active 32 DOM
17. 2026-05-31
    days on market $450,000 Active 31 DOM
18. 2026-05-31
    days on market $450,000 Active 30 DOM
19. 2026-05-14
    price $450,000 396-char remark
20. 2026-04-30
    listed $475,000 Active 396-char remark
21. 2025-07-14
    price $524,900
22. 2025-06-27
    price $549,000
23. 2017-09-05
    soldstatus $205,000
24. 2017-08-30
    soldstatus $205,000

    Show marketing remark (411 chars)

    On the Bike Trails, along with walking to Arnolds Park Amusement Park, Swim Beaches and all the Area Attractions sits this Wonderful 3 Bedroom, 3 Bath Home. Lower Level Walk-out with Family Room, 3rd Bedroom, 3rd Bath and 2nd Kitchen. Separate Entrance from the Garage to Lower Level could make this a 2 Family Home! You won't believe all the Storage! 2 more extra rooms in the Lower Level plus a Storm Shelter!

25. 2016-12-03
    listed $229,900

    Show marketing remark (411 chars)

    On the Bike Trails, along with walking to Arnolds Park Amusement Park, Swim Beaches and all the Area Attractions sits this Wonderful 3 Bedroom, 3 Bath Home. Lower Level Walk-out with Family Room, 3rd Bedroom, 3rd Bath and 2nd Kitchen. Separate Entrance from the Garage to Lower Level could make this a 2 Family Home! You won't believe all the Storage! 2 more extra rooms in the Lower Level plus a Storm Shelter!

26. 2007-09-12
    soldstatus $200,000

ⓘ 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: $3,690 · $308/mo
• Projected year-2 tax: $5,378 · $448/mo
• Expected delta: +$1,688/yr (+$141/mo · 45.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 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: $15,827
• − Mortgage interest: −$25,207
• − Property taxes: −$3,690
• − Insurance: −$2,250
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$13,091
• Taxable loss: −$30,943
• Est. tax savings @ 24.0%: +$7,426
• After-tax cash flow: $-14,328/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: Okoboji Community School District
• NCES district ID: 1900021
• Math proficiency: 78% ▲ 8.00%
• Reading proficiency: 80% ▲ 6.00%
• Median HH income: $50,522
• Composite: 66.88/100
• National rank: #403
• State rank: #40 of 289 in IA

Livability — Arnolds Park

• Score: 78/100
• State rank: #140
• US rank: #2548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arnolds Park, IA
• City population: 920
• Population (ZIP): 920

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,133 people
• By 2030: 18,610 · +2.6%
• By 2040: 19,456 · +7.3%
• By 2050: 20,307 · +12.0%
• By 2075: 23,155 · +27.7%
• By 2100: 24,449 · +34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Portuguese 8% Slovak 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+40.0) · D 29.5% · R 69.5% · Other 1.1%
• 2008→2024 swing: -34.6pp toward R · 2008: -5.4pp · 2024: -40.0pp
• All cycles: 2024: R+40.0 2020: R+33.6 2016: R+36.0 2012: R+18.0 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.42%
• Current HPI: 207.79
• 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

+125.0% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $450,000 Iowa Great Lakes BOR
• 2026-04-30 Listed $475,000 Iowa Great Lakes BOR
• 2025-07-14 Price Changed $524,900 Iowa Great Lakes BOR
• 2025-06-27 Price Changed $549,000 Iowa Great Lakes BOR
• 2017-09-05 Sold (Public Records) $205,000 Public Records
• 2017-08-30 Sold (MLS) $205,000 Iowa Great Lakes BOR
• 2016-12-03 Listed $229,900 Iowa Great Lakes BOR
• 2007-09-12 Sold (Public Records) $200,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,690 · -1.2% YoY. Source: county tax records.