404 Worth St · Ackley, IA 50601

$65,000

4 bd · 1.0 ba · 1,624 sqft · SingleFamily public records · 71 Days on market

Built 1867 8,712 sqft lot Est $104k · 37% under ↓ 13% since listing

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Why this score? — see what drove the A 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
• Appreciation +6.4/10.0
• Schools +5.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this inviting 4-bedroom, 1-bath home nestled in the tranquil small town of Ackley. Boasting a spacious lot surrounded by mature trees, this charming residence offers plenty of potential for personalized updates to make it truly your own. Property used to have a 2 stall garage, the slab is still on the property, making for an easy garage addition, if desire. Recent updates to the roof, siding, gutters, windows and exterior doors provide added peace of mind and curb appeal. Whether you're looking for a cozy home or a peaceful retreat, this property provides a wonderful opportunity to enjoy small-town living with plenty of character. Don’t miss your chance—schedule a tour

Key facts

• Recent updates
• Spacious lot
• Curb appeal

Tags

• SPACIOUS LOT
• MATURE TREES
• GARAGE ADDITION
• RECENT UPDATES
• CURB APPEAL

Property features AI

Exterior

• Parking: Detached garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Two-story single family residence; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Range; Refrigerator; Basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#377 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Agwsr Community School District (rural): math 60% / reading 69% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.8% local appreciation)).
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 1867 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1867 — 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. 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?
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: 1.69% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.74%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $103,936
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 Cerro Gordo St St	0.17mi	4/1.0	1,744 (+7%)	2mo	$35,000	$20	78
1111 2nd Ave	0.66mi	4/2.0	1,636 (+1%)	1mo	$179,900	$110	63
600 5th Ave Ave	0.34mi	3/1.0 (-1)	1,628 (+0%)	21mo	$104,900	$64	61
910 2nd Ave Ave	0.47mi	4/1.0	1,420 (-13%)	6mo	$20,000	$14	52
918 Main St	0.48mi	3/1.5 (-1)	1,760 (+8%)	6mo	$95,000	$54	52
1009 Main	0.55mi	4/1.5	1,860 (+14%)	13mo	$172,900	$93	37
1108 3rd Ave	0.62mi	3/2.0 (-1)	1,493 (-8%)	22mo	$105,000	$70	30

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

Projected returns pro-forma

2.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.3%
• Equity multiple: 3.03×
• Total profit: $36,927
• Equity at exit: $28,601

10-year hold

• IRR: 36.5%
• Equity multiple: 5.98×
• Total profit: $90,564
• Equity at exit: $43,597

Cash invested: $18,200 (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 50601

• Home prices YoY: 1.9%
• Active inventory: 29
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $466

Break-even live

Break-even rent $507

Max offer price $65,000

Occupancy floor 53%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-22
   status Pending
2. 2026-04-20
   historical Active Under Contract
3. 2026-04-10
   status Active
4. 2026-03-31
   historical Active Under Contract
5. 2026-03-12
   listed $65,000 Active
6. 2025-09-16
   status Active
7. 2025-08-27
   historical Active Under Contract
8. 2025-06-13
   price $70,000
9. 2025-05-19
   listed $75,000 Active

ⓘ 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: $394 · $33/mo
• Projected year-2 tax: $707 · $59/mo
• Expected delta: +$313/yr (+$26/mo · 79.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 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: $13,171
• − Mortgage interest: −$3,641
• − Property taxes: −$394
• − Insurance: −$325
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$1,891
• Taxable income: $4,813
• Est. tax owed @ 24.0%: −$1,155
• After-tax cash flow: $4,441/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: Agwsr Community School District
• NCES district ID: 1903060
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -1.00%
• Median HH income: $51,863
• Composite: 54.95/100
• National rank: #1304
• State rank: #198 of 289 in IA

Livability — Ackley

• Score: 70/100
• State rank: #377
• US rank: #7968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ackley, IA
• Population (ZIP): 2,377

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Iranian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.83%
• Current HPI: 154.031
• 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

-13.3% since first listed

9 events — show timeline

• 2026-05-22 Pending — IAR
• 2026-04-20 Contingent — IAR
• 2026-04-10 Relisted — IAR
• 2026-03-31 Contingent — IAR
• 2026-03-12 Listed $65,000 IAR
• 2025-09-16 Relisted — IAR
• 2025-08-27 Contingent — IAR
• 2025-06-13 Price Changed $70,000 IAR
• 2025-05-19 Listed $75,000 IAR

Property tax history

+3.3%/yr

Latest (2025): $394 · -9.6% YoY. Source: county tax records.