5253 5th St · Melrose, IA 52569

$85,500

1 bd · 1.0 ba · 600 sqft · SingleFamily · 56 Days on market

Built 2015 Good condition 8,015 sqft lot $38/mo HOA · 5% of rent

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Why this score? — see what drove the C- 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 +12.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• DSCR +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0

Listing remarks

Tucked away in the peaceful community of Lazy Daz near Rathbun Lake, this like new cabin is the perfect retreat for anyone seeking relaxation and simplicity. Cute, cozy, and thoughtfully designed, this property offers the feel of a brand-new home with all the comforts already in place. Step inside to find an inviting interior featuring modern finishes and a fresh, clean look throughout. The open layout maximizes space and functionality, making it ideal for weekend getaways or full-time living. All appliances are included, allowing for a truly turnkey experience just bring your personal touches and start enjoying lake life. Whether you’re looking for a quiet escape, a vacation property

Key facts

• Open layout
• Modern finishes
• Minutes from boating

Tags

• NEAR RATHBUN LAKE
• MODERN FINISHES
• OPEN LAYOUT
• TURNKEY EXPERIENCE
• MINUTES FROM BOATING
• FISHING

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $450 (includes trash and water)

Exterior

• Parking: Gravel parking
• Utilities: Septic tank for sewer
• Home design: Single-family residential home
• Construction: Wood siding construction
• Exterior features: Gravel parking; Approximately 0.184-acre lot

Interior

• Bathrooms: 1 full bathroom
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $86k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-15 ($-183/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (9.1% below list).
• Recommended offer: $78k (9.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#919 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, schools F, amenities F.
• Albia Community School District (town): math 68% / reading 77% proficiency, ranked #117 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 26 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($591 loan paydown + $9k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,677 (9.1% 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 56 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.91% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.7%
• Equity multiple: 2.91×
• Total profit: $45,631
• Equity at exit: $77,025

10-year hold

• IRR: 21.1%
• Equity multiple: 6.65×
• Total profit: $135,208
• Equity at exit: $166,108

Cash invested: $23,940 (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 52569

• Home prices YoY: 5.3%
• Active inventory: 26
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $777 medium
• Mortgage (P&I): −$448
• Tax est. 1.5%: −$107 /mo · $1,282/yr
• Insurance: −$36
• HOA: −$38
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $-15

Break-even live

Break-even rent $796

Max offer price $83,297

Occupancy floor 97%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 16 events

1. 2026-06-18
   days on market $85,500 Active 56 DOM
2. 2026-06-17
   days on market $85,500 Active 55 DOM
3. 2026-06-16
   days on market $85,500 Active 54 DOM
4. 2026-06-15
   days on market $85,500 Active 53 DOM
5. 2026-06-13
   days on market $85,500 Active 51 DOM
6. 2026-06-12
   days on market $85,500 Active 50 DOM
7. 2026-06-09
   days on market $85,500 Active 47 DOM
8. 2026-06-08
   days on market $85,500 Active 46 DOM
9. 2026-06-07
   days on market $85,500 Active 45 DOM
10. 2026-06-05
    days on market $85,500 Active 43 DOM
11. 2026-06-04
    days on market $85,500 Active 41 DOM
12. 2026-06-02
    days on market $85,500 Active 40 DOM
13. 2026-06-01
    days on market $85,500 Active 39 DOM
14. 2026-05-31
    days on market $85,500 Active 38 DOM
15. 2026-05-31
    days on market $85,500 Active 37 DOM
16. 2026-04-22
    listed $85,500 Active 889-char remark

ⓘ 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 ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,321
• − Mortgage interest: −$4,789
• − Property taxes: −$1,282
• − Insurance: −$428
• − Repairs & maintenance: −$746
• − Management: −$746
• − HOA: −$456
• − Depreciation: −$2,487
• Taxable loss: −$1,613
• Est. tax savings @ 24.0%: +$387
• After-tax cash flow: $204/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This single-family home in a peaceful community near Rathbun Lake is in good condition with modern finishes and fresh look. It's ready for move-in and offers a great value for both resale and rental.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping and curb appeal improvements — Improves curb appeal and value
• Both HVAC maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and value ↑
• Both HVAC maintenance — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Albia Community School District
• NCES district ID: 1903270
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $44,429
• Composite: 60.88/100
• National rank: #814
• State rank: #117 of 289 in IA

Livability — Melrose

• Score: 57/100
• State rank: #919
• US rank: #22357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 541
• Population (ZIP): 541

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 7,921 people
• By 2030: 7,918 · +-0.0%
• By 2040: 7,873 · -0.6%
• By 2050: 7,776 · -1.8%
• By 2075: 7,556 · -4.6%
• By 2100: 7,055 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 10%
• Common ancestry: Slovak 3% Romanian 3% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+50.7) · D 24.2% · R 74.9%
• 2008→2024 swing: -45.5pp toward R · 2008: -5.2pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+46.4 2016: R+41.2 2012: R+7.7 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.12%
• Current HPI: 199.977
• 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

1 event — show timeline

• 2026-04-22 Listed $85,500 IAR