202 N West St · Sigourney, IA 52591

$89,000

4 bd · 2.0 ba · 2,940 sqft · SingleFamily public records · 22 Days on market

Built 1884 0.50 ac lot $30/sqft · 52% below area

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step back in time with this historic 4-bedroom, 2-bath home in Sigourney! Rich in character and timeless appeal, this stately residence showcases original features throughout and offers an incredible opportunity to restore and reimagine a true classic. Spacious main-level rooms feature tall ceilings, large windows, and abundant natural light, while the large kitchen and adjoining den provide flexible living space for everyday life and entertaining. A convenient 3/4 bath on the main level adds modern functionality. Upstairs, you’ll find generously sized bedrooms along with a full bathroom, including a primary bedroom highlighted by a beautiful marble gas fireplace. New boiler installed

Key facts

• Brick patio
• Original features
• Large kitchen

Tags

• HISTORIC HOME
• ORIGINAL FEATURES
• LARGE KITCHEN
• FLEXIBLE LIVING SPACE
• MARBLE GAS FIREPLACE
• BRICK PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/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: $88k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#108 in IA, #2,086 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sigourney Community School District (rural): math 76% / reading 68% proficiency, ranked #122 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 25 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $89k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1884 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 1.45% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.65%
• DSCR: 1.83
• GRM: 5.7

CMA / ARV

• ARV (median comp): $185,109
• List price: $89,000
• Delta: -46.03%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 W Pleasant Valley St	0.36mi	3/1.0 (-1)	2,658 (-10%)	13mo	$87,000	$33	48
707 E Pleasantview St	0.74mi	3/2.0 (-1)	2,556 (-13%)	5mo	$263,500	$103	35

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

Projected returns pro-forma

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

5-year hold

• IRR: 38.2%
• Equity multiple: 3.94×
• Total profit: $73,166
• Equity at exit: $80,178

10-year hold

• IRR: 32.9%
• Equity multiple: 8.87×
• Total profit: $196,132
• Equity at exit: $172,907

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 52591

• Home prices YoY: 22.5%
• Active inventory: 25
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$132 /mo · $1,578/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $387

Break-even live

Break-even rent $804

Max offer price $89,000

Occupancy floor 65%

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 22 events

1. 2026-06-18
   days on market $89,000 Active 22 DOM
2. 2026-06-17
   days on market $89,000 Active 21 DOM
3. 2026-06-16
   days on market $89,000 Active 20 DOM
4. 2026-06-15
   days on market $89,000 Active 19 DOM
5. 2026-06-13
   days on market $89,000 Active 17 DOM
6. 2026-06-12
   days on market $89,000 Active 16 DOM
7. 2026-06-09
   days on market $89,000 Active 13 DOM
8. 2026-06-08
   days on market $89,000 Active 12 DOM
9. 2026-06-07
   days on market $89,000 Active 11 DOM
10. 2026-06-04
    days on market $89,000 Active 7 DOM
11. 2026-06-02
    days on market $89,000 Active 6 DOM
12. 2026-06-01
    days on market $89,000 Active 5 DOM
13. 2026-05-31
    days on market $89,000 Active 4 DOM
14. 2026-05-31
    days on market $89,000 Active 3 DOM
15. 2025-11-01
    price $99,900
16. 2025-10-14
    price $104,900
17. 2025-09-01
    price $109,900
18. 2025-07-28
    price $114,900
19. 2025-07-14
    price $119,900
20. 2025-04-25
    price $124,900
21. 2024-11-30
    listed $129,900 Active
22. 2009-01-21
    soldstatus $36,000

ⓘ 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: $1,578 · $132/mo
• Projected year-2 tax: $1,578 · $132/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,532
• − Mortgage interest: −$4,985
• − Property taxes: −$1,578
• − Insurance: −$445
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,589
• Taxable income: $3,450
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $3,819/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: Sigourney Community School District
• NCES district ID: 1926280
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $44,250
• Composite: 60.52/100
• National rank: #840
• State rank: #122 of 289 in IA

Livability — Sigourney

• Score: 79/100
• State rank: #108
• US rank: #2086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sigourney, IA
• Population (ZIP): 2,646

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 3% English 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 47.08%
• Current HPI: 256.0682
• 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

+177.5% since first listed

8 events — show timeline

• 2025-11-01 Price Changed $99,900 IAR
• 2025-10-14 Price Changed $104,900 IAR
• 2025-09-01 Price Changed $109,900 IAR
• 2025-07-28 Price Changed $114,900 IAR
• 2025-07-14 Price Changed $119,900 IAR
• 2025-04-25 Price Changed $124,900 IAR
• 2024-11-30 Listed $129,900 IAR
• 2009-01-21 Sold (Public Records) $36,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,578 · -6.2% YoY. Source: county tax records.