815 N 10th St · Estherville, IA 51334

$89,000

3 bd · 2.0 ba · 1,755 sqft · SingleFamily public records · 58 Days on market

Built 1947 7,128 sqft lot Est $161k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• 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

MUST SEE INSIDE! 3 bedrooms, 1 1/4 baths, and a fantastic layout. Formal dining, full bath & bedroom on the main; 2 more bedrooms up; and LL shower & full basement. Updated water heater, electric box, new garage & house roofs, cast iron to basement removed; numerous brand new windows & new LED lights in garage! Partial fenced yard w/ alley access for another stall or parking. Listing includes $1,000 for buyer's choice: cosmetic update allowance, required exterior painting (FHA), or closing cost. Exterior trim painting and front steps will be done when weather allows. SOLID Home, perfect layout & a great price! STOP RENTING.

Key facts

• 7,128 sq ft lot
• Garage
• Built 1947

Property features AI

Exterior

• Parking: Detached concrete garage with space for 1 vehicle
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half level; One story total
• Construction: Built with conventional construction (details not specified)
• Exterior features: Asphalt roof; Lot approximately 66 x 108 (0.16 acre)

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Hardwood
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating using electric and natural gas; Central air conditioning
• Interior features: Unfinished full basement; Gas water heater
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 5.2% in Estherville — 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 (#174 in IA, #3,136 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• Estherville Lincoln Central Community School District (town): math 57% / reading 67% proficiency, ranked #229 of 289 in IA (top 79%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 45 active listings in the ZIP; 11 units permitted in Emmet County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Emmet County population projected at -23% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $70k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.66% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.46%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $161,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 N 6th St	0.25mi	3/2.0	1,794 (+2%)	1mo	$161,000	$90	84
520 N 7th St	0.23mi	3/1.0	1,680 (-4%)	8mo	$154,000	$92	71
920 4th Ave N	0.27mi	3/1.5	1,652 (-6%)	7mo	$116,600	$71	70
1314 4th Ave N	0.37mi	3/2.0	1,600 (-9%)	0mo	$160,000	$100	68
909 N 14th St	0.25mi	4/1.5 (+1)	1,650 (-6%)	8mo	$190,000	$115	64
320 Knollwood Dr	0.58mi	4/2.0 (+1)	1,770 (+1%)	6mo	$215,000	$121	61
215 N 14th St	0.44mi	4/2.0 (+1)	1,890 (+8%)	1mo	$151,000	$80	61
1403 N 9th St	0.31mi	4/2.0 (+1)	1,899 (+8%)	8mo	$209,000	$110	60
1021 N 7th St	0.20mi	4/3.5 (+1)	1,905 (+8%)	10mo	$177,000	$93	57
14 Briar Place Dr	0.33mi	4/3.0 (+1)	1,678 (-4%)	14mo	$130,000	$77	57
1614 Maplecrest Dr	0.44mi	3/2.0	1,920 (+9%)	11mo	$165,000	$86	55
203 N 15th St	0.51mi	4/2.0 (+1)	1,583 (-10%)	8mo	$145,000	$92	48

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: 20.3%
• Equity multiple: 1.83×
• Total profit: $20,602
• Equity at exit: $13,270

10-year hold

• IRR: 28.5%
• Equity multiple: 3.53×
• Total profit: $63,107
• Equity at exit: $7,695

Cash invested: $24,920 (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 51334

• Home prices YoY: -7.7%
• Active inventory: 45
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$114 /mo · $1,374/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $550

Break-even live

Break-even rent $783

Max offer price $89,000

Occupancy floor 58%

Sensitivity live

Price	-10% $600	-5% $575	+0% $550	+5% $524	+10% $499
Rent	-10% $433	-5% $491	+0% $550	+5% $608	+10% $666
Rate	-1.0pp $594	-0.5pp $572	base $550	+0.5pp $526	+1.0pp $503

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-04
   historical Active Under Contract
2. 2026-05-01
   status Active
3. 2026-04-27
   historical Active Under Contract
4. 2026-03-30
   listed $89,000 Active
5. 2019-06-18
   soldstatus $70,000
6. 2019-06-10
   soldstatus $70,000 661-char remark

   Show marketing remark (661 chars)

   MUST SEE INSIDE! 3 bedrooms, 1 1/4 baths, and a fantastic layout. Formal dining, full bath & bedroom on the main; 2 more bedrooms up; and LL shower & full basement. Updated water heater, electric box, new garage & house roofs, cast iron to basement removed; numerous brand new windows & new LED lights in garage! Partial fenced yard w/ alley access for another stall or parking. Listing includes $1,000 for buyer's choice: cosmetic update allowance, required exterior painting (FHA), or closing cost. Exterior trim painting and front steps will be done when weather allows. SOLID Home, perfect layout & a great price! STOP RENTING.

7. 2019-03-18
   listed $73,500 661-char remark

   Show marketing remark (661 chars)

   MUST SEE INSIDE! 3 bedrooms, 1 1/4 baths, and a fantastic layout. Formal dining, full bath & bedroom on the main; 2 more bedrooms up; and LL shower & full basement. Updated water heater, electric box, new garage & house roofs, cast iron to basement removed; numerous brand new windows & new LED lights in garage! Partial fenced yard w/ alley access for another stall or parking. Listing includes $1,000 for buyer's choice: cosmetic update allowance, required exterior painting (FHA), or closing cost. Exterior trim painting and front steps will be done when weather allows. SOLID Home, perfect layout & a great price! STOP RENTING.

ⓘ 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: $1,374 · $114/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$12/yr (+$1/mo · 0.8%)

ⓘ 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 4/10 Moderate
• 🌡 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: $17,739
• − Mortgage interest: −$4,985
• − Property taxes: −$1,374
• − Insurance: −$445
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$2,589
• Taxable income: $5,508
• Est. tax owed @ 24.0%: −$1,322
• After-tax cash flow: $5,273/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: Estherville Lincoln Central Community School District
• NCES district ID: 1911070
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 67% ▲ 5.00%
• Median HH income: $46,185
• Composite: 52.33/100
• National rank: #1588
• State rank: #229 of 289 in IA

Livability — Estherville

• Score: 77/100
• State rank: #174
• US rank: #3136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estherville, IA
• Population (ZIP): 6,827

Population outlook (Emmet County) Hauer SSP2

• Today (2025): 9,084 people
• By 2030: 8,626 · -5.0%
• By 2040: 7,751 · -14.7%
• By 2050: 6,991 · -23.0%
• By 2075: 5,854 · -35.6%
• By 2100: 5,563 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 13% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 10% Iranian 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 8% German/W. Germanic 0%

Political lean MEDSL · Emmet

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5% · Other 1.0%
• 2008→2024 swing: -48.0pp toward R · 2008: 3.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+36.0 2016: R+37.5 2012: R+8.9 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.14%
• Current HPI: 207.0155
• 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

+21.1% since first listed

7 events — show timeline

• 2026-05-04 Contingent — Iowa Great Lakes BOR
• 2026-05-01 Relisted — Iowa Great Lakes BOR
• 2026-04-27 Contingent — Iowa Great Lakes BOR
• 2026-03-30 Listed $89,000 Iowa Great Lakes BOR
• 2019-06-18 Sold (Public Records) $70,000 Public Records
• 2019-06-10 Sold (MLS) $70,000 Iowa Great Lakes BOR
• 2019-03-18 Listed $73,500 Iowa Great Lakes BOR

Property tax history

+0.7%/yr

Latest (2025): $1,374 · +4.1% YoY. Source: county tax records.