121 E Olive St · Laurens, IA 50554

$29,000

3 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 1 Days on market

Built 1909

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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 +4.8/10.0
• Appreciation +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice home on a corner lot with space for a multiple stall garage. Kitchen has painted wood cabinets, formal dining room, smaller living room, possible family room as you enter from the side door. Bedrooms are upstairs with additional large closet space. Laundry is in the bsmt.

Key facts

• Small quiet town
• Corner lot
• Built 1909

Tags

• CORNER LOT
• SMALL QUIET TOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $29k).

Location & tenants

• 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.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $37 of equity ($200 loan paydown + $-163 appreciation (-0.6% local appreciation)).
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,000

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.41% ✓
• Cap rate: 19.27%
• Cash-on-cash: 46.36%
• DSCR: 3.06
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $71,685
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 S 1st St	0.06mi	3/1.0	1,116 (-8%)	15mo	$75,000	$67	71
315 Hazlett St	0.16mi	2/1.0 (-1)	1,196 (-2%)	19mo	$73,000	$61	69
531 Bissell St	0.31mi	3/1.5	1,347 (+11%)	9mo	$56,900	$42	58
340 S Harrison St	0.19mi	3/2.0	1,381 (+14%)	8mo	$47,500	$34	58
408 N Harrison St	0.38mi	3/2.0	1,357 (+12%)	2mo	$38,000	$28	58
521 Bissell St	0.29mi	2/1.0 (-1)	1,286 (+6%)	21mo	$75,400	$59	54

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

Projected returns pro-forma

-0.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.0%
• Equity multiple: 3.27×
• Total profit: $18,406
• Equity at exit: $7,614

10-year hold

• IRR: 50.3%
• Equity multiple: 6.52×
• Total profit: $44,862
• Equity at exit: $8,532

Cash invested: $8,120 (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 50554

• Home prices YoY: -0.5%
• Active inventory: 13
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $700 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $314

Break-even live

Break-even rent $303

Max offer price $29,000

Occupancy floor 50%

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Sadie St Unit 1 Laurens, IA	2.0	1.0	700	$700	$1.00	43d	1	0.42mi

Listing history 5 events

1. 2026-05-26
   listed $29,000 Active
2. 2026-05-04
   soldstatus $20,000
3. 2022-06-15
   soldstatus $20,000 277-char remark

   Show marketing remark (277 chars)

   Nice home on a corner lot with space for a multiple stall garage. Kitchen has painted wood cabinets, formal dining room, smaller living room, possible family room as you enter from the side door. Bedrooms are upstairs with additional large closet space. Laundry is in the bsmt.

4. 2022-01-24
   listed $24,900 277-char remark

   Show marketing remark (277 chars)

   Nice home on a corner lot with space for a multiple stall garage. Kitchen has painted wood cabinets, formal dining room, smaller living room, possible family room as you enter from the side door. Bedrooms are upstairs with additional large closet space. Laundry is in the bsmt.

5. 2004-09-02
   soldstatus $24,500

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $902 · $75/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $8,400
• − Mortgage interest: −$1,624
• − Property taxes: −$902
• − Insurance: −$145
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$844
• Taxable income: $3,541
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $2,914/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: Laurens-Marathon Community School District
• NCES district ID: 1916420
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $42,146
• Composite: 48.0/100
• National rank: #4796
• State rank: #311 of 330 in IA

Livability — Laurens

• Score: 74/100
• State rank: #248
• US rank: #4769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurens, IA
• City population: 1,639
• Population (ZIP): 1,639

Population outlook (Pocahontas County) Hauer SSP2

• Today (2025): 6,624 people
• By 2030: 6,482 · -2.1%
• By 2040: 6,359 · -4.0%
• By 2050: 6,439 · -2.8%
• By 2075: 7,397 · +11.7%
• By 2100: 8,428 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Portuguese 4% Iranian 3% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Pocahontas

• 2024 margin: Solid R (+54.0) · D 22.3% · R 76.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: -8.4pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+49.5 2016: R+45.2 2012: R+21.8 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.56%
• Current HPI: 111.4699
• 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

+18.4% since first listed

5 events — show timeline

• 2026-05-26 Listed $29,000 FSBO.com
• 2026-05-04 Sold (Public Records) $20,000 Public Records
• 2022-06-15 Sold (MLS) $20,000 IAR
• 2022-01-24 Listed $24,900 IAR
• 2004-09-02 Sold (Public Records) $24,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $902 · +1.3% YoY. Source: county tax records.