512 S 8th St · Keokuk, IA 52632

$8,200

2 bd · 1.0 ba · 1,302 sqft · SingleFamily public records · 179 Days on market

Built 1890 3,485 sqft lot $6/sqft · 83% below area ↓ 49% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property needs repairs and updates, but is an excellent opportunity for fix and flip, rental, or make it your own. Bargain priced with instant equity. Call today!

Key facts

• 3,485 sq ft lot
• Built 1890
• Listed 178 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $713 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.
• Cap rate 110.7% vs local median 8.2% in Keokuk — 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 77/100 on livability (#166 in IA, #3,002 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $57 of loan paydown is wiped out by about $246 of value loss. Plan a longer hold.
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,216 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 11.89% ✓
• Cap rate: 110.70%
• Cash-on-cash: 372.87%
• DSCR: 17.59
• GRM: 0.7

CMA / ARV

• ARV (median comp): $47,391
• List price: $8,200
• Delta: -82.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 S 9th St	0.28mi	2/2.5	1,332 (+2%)	3mo	$20,000	$15	75
18 N 1st St St	0.65mi	2/1.0	1,335 (+2%)	6mo	$60,000	$45	61
1423 Des Moines St	0.46mi	2/1.0	1,241 (-5%)	15mo	$25,000	$20	58
1310 Bank St	0.40mi	2/1.0	1,448 (+11%)	13mo	$57,500	$40	52
617 Concert St	0.55mi	1/1.0 (-1)	1,248 (-4%)	13mo	$35,000	$28	52
1307 Timea St	0.37mi	3/1.0 (+1)	1,126 (-14%)	5mo	$6,000	$5	51
1025 Concert St	0.56mi	2/2.0	1,390 (+7%)	15mo	$64,000	$46	46
1815 Palean St	0.72mi	3/1.0 (+1)	1,228 (-6%)	10mo	$55,000	$45	43
1701 S 7th St	0.74mi	2/1.0	1,176 (-10%)	8mo	$15,000	$13	43
405 N 11th St	0.70mi	3/1.0 (+1)	1,338 (+3%)	19mo	$25,500	$19	42
1320 Oak St	0.45mi	3/1.0 (+1)	1,135 (-13%)	14mo	$14,200	$13	41
1721 Johnson St	0.73mi	3/1.0 (+1)	1,142 (-12%)	5mo	$30,000	$26	36

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: —
• Equity multiple: 20.22×
• Total profit: $44,124
• Equity at exit: $1,223

10-year hold

• IRR: —
• Equity multiple: 43.24×
• Total profit: $96,992
• Equity at exit: $709

Cash invested: $2,296 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$43
• Tax est. 1.5%: −$10 /mo · $123/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $713

Break-even live

Break-even rent $72

Max offer price $8,200

Occupancy floor 22%

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: $2,050
• Closing costs: $246
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $8,200 Active 179 DOM
2. 2026-06-17
   days on market $8,200 Active 178 DOM
3. 2026-06-16
   days on market $8,200 Active 177 DOM
4. 2026-06-15
   days on market $8,200 Active 176 DOM
5. 2026-06-13
   days on market $8,200 Active 174 DOM
6. 2026-06-12
   days on market $8,200 Active 173 DOM
7. 2026-06-09
   days on market $8,200 Active 170 DOM
8. 2026-06-08
   days on market $8,200 Active 169 DOM
9. 2026-06-07
   days on market $8,200 Active 168 DOM
10. 2026-06-07
    days on market $8,200 Active 167 DOM
11. 2026-06-04
    days on market $8,200 Active 164 DOM
12. 2026-06-02
    days on market $8,200 Active 163 DOM
13. 2026-06-01
    days on market $8,200 Active 162 DOM
14. 2026-05-31
    days on market $8,200 Active 161 DOM
15. 2026-05-31
    days on market $8,200 Active 160 DOM
16. 2025-12-22
    listed $8,200 Active 167-char remark

    Show marketing remark (167 chars)

    This property needs repairs and updates, but is an excellent opportunity for fix and flip, rental, or make it your own. Bargain priced with instant equity. Call today!

17. 2023-01-13
    status Pending
18. 2023-01-12
    status Pending
19. 2022-12-01
    price $9,500
20. 2022-11-09
    listed $9,500 Active
21. 2022-11-09
    listed $16,000 Active
22. 2022-11-07
    listed $16,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $11,698
• − Mortgage interest: −$459
• − Property taxes: −$123
• − Insurance: −$41
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$239
• Taxable income: $8,964
• Est. tax owed @ 24.0%: −$2,151
• After-tax cash flow: $6,410/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Keokuk

• Score: 77/100
• State rank: #166
• US rank: #3002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keokuk, IA
• Population (ZIP): 11,904

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.80%
• Current HPI: 122.2866
• 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

-48.8% since first listed

7 events — show timeline

• 2025-12-22 Listed $8,200 IAR
• 2023-01-13 Pending — CRAAR, CDRMLS
• 2023-01-12 Pending — IAR
• 2022-12-01 Price Changed $9,500 IAR
• 2022-11-09 Listed $16,000 IAR
• 2022-11-09 Listed $9,500 CRAAR, CDRMLS
• 2022-11-07 Listed $16,000 IAR

Property tax history

+4.9%/yr

Latest (2025): $768 · +32.9% YoY. Source: county tax records.