414 N Main St · Mount Pleasant, IA 52641

$79,900

4 bd · 2.0 ba · 1,941 sqft · SingleFamily public records · 59 Days on market

Built 1900 10,440 sqft lot $41/sqft · 34% below area Est $121k · 34% under ↓ 27% since listing

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New listing in Mt Pleasant is currently looking for its new owner. 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC.

Key facts

• Level yard
• Shed
• Formal dining room

Tags

• FRONT PORCH
• LEVEL YARD
• SHED
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.3% in Mount Pleasant — 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 84/100 on livability (#20 in IA, #662 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Mount Pleasant Community School District (town): math 63% / reading 66% proficiency, ranked #207 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.44% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.41%
• DSCR: 1.60
• GRM: 5.8

CMA / ARV

• ARV (median comp): $120,915
• List price: $79,900
• Delta: -33.92%
• 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
700 W Henry St. St	0.48mi	4/2.0	1,974 (+2%)	2mo	$195,000	$99	73
103 E Henry St	0.15mi	3/1.5 (-1)	1,792 (-8%)	3mo	$130,000	$73	70
612 N Lincoln St	0.22mi	3/2.0 (-1)	2,104 (+8%)	6mo	$186,000	$88	65
415 N Adams St	0.05mi	3/1.5 (-1)	1,680 (-13%)	7mo	$120,223	$72	63
610 E Henry St	0.46mi	3/1.5 (-1)	1,843 (-5%)	0mo	$22,500	$12	63
308 E Washington St	0.45mi	4/1.5	1,760 (-9%)	5mo	$136,000	$77	58
311 W State St	0.42mi	4/2.5	1,704 (-12%)	3mo	$185,000	$109	55
511 E Washington St	0.51mi	4/2.5	2,172 (+12%)	2mo	$234,900	$108	53
603 E Green St	0.72mi	3/2.0 (-1)	1,904 (-2%)	9mo	$260,000	$137	51
307 N Rose St	0.75mi	3/2.0 (-1)	1,820 (-6%)	2mo	$175,000	$96	49
203 E Webster St. St	0.67mi	3/2.0 (-1)	2,195 (+13%)	5mo	$211,000	$96	38
803 E Washington St. St	0.67mi	3/2.0 (-1)	1,706 (-12%)	10mo	$187,500	$110	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: 3.5%
• Equity multiple: 1.14×
• Total profit: $3,054
• Equity at exit: $11,913

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $23,490
• Equity at exit: $6,908

Cash invested: $22,372 (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 52641

• Home prices YoY: -25.2%
• Active inventory: 93
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$204 /mo · $2,450/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $250

Break-even live

Break-even rent $831

Max offer price $79,900

Occupancy floor 73%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-14
   soldstatus $80,000 Closed 354-char remark

   Show marketing remark (354 chars)

   New listing in Mt Pleasant is currently looking for its new owner. 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC.

2. 2026-05-01
   status Pending 364-char remark

   Show marketing remark (364 chars)

   New listing in Mt Pleasant is currently looking for its new owner. This 2 story 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC

3. 2026-04-11
   price $79,900 364-char remark

   Show marketing remark (354 chars)

   New listing in Mt Pleasant is currently looking for its new owner. 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC.

4. 2026-04-11
   price $79,900 354-char remark

   Show marketing remark (354 chars)

   New listing in Mt Pleasant is currently looking for its new owner. 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC.

5. 2026-03-10
   price $92,900 354-char remark

   Show marketing remark (364 chars)

   New listing in Mt Pleasant is currently looking for its new owner. This 2 story 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC

6. 2026-03-10
   price $92,900 364-char remark

   Show marketing remark (364 chars)

   New listing in Mt Pleasant is currently looking for its new owner. This 2 story 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC

7. 2026-03-03
   listed $99,900 Active 364-char remark

   Show marketing remark (364 chars)

   New listing in Mt Pleasant is currently looking for its new owner. This 2 story 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC

8. 2026-03-02
   listed $99,900 Active 354-char remark

   Show marketing remark (354 chars)

   New listing in Mt Pleasant is currently looking for its new owner. 4 bed / 2 bath home with a front porch, level yard, shed. Formal dining room. Under FinCEN s new RRE Rule, transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all cash, privately financed or HELOC.

9. 2025-08-01
   listed $99,900 Active
10. 2025-07-26
    status Active
11. 2025-05-02
    historical Active Under Contract
12. 2025-03-27
    listed $99,900 Active
13. 2024-10-25
    price $89,900
14. 2024-09-26
    price $99,900
15. 2024-08-05
    listed $114,900 Active
16. 2008-09-25
    soldstatus $110,000

ⓘ 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: $2,450 · $204/mo
• Projected year-2 tax: $2,450 · $204/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 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: $13,768
• − Mortgage interest: −$4,476
• − Property taxes: −$2,450
• − Insurance: −$400
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$2,324
• Taxable income: $1,916
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $2,540/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: Mount Pleasant Community School District
• NCES district ID: 1919890
• Math proficiency: 63% ▼ -5.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $46,805
• Composite: 54.49/100
• National rank: #1348
• State rank: #207 of 289 in IA

Livability — Mount Pleasant

• Score: 84/100
• State rank: #20
• US rank: #662

Category grades

Amenities B+ 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: Mount Pleasant, IA
• Population (ZIP): 12,796

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.39%
• Current HPI: 179.2437
• 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

-27.3% since first listed

16 events — show timeline

• 2026-05-14 Sold (MLS) $80,000 MRED as Distributed by MLS Grid
• 2026-05-01 Pending — Muscatine BOR
• 2026-04-11 Price Changed $79,900 Muscatine BOR
• 2026-04-11 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2026-03-10 Price Changed $92,900 MRED as Distributed by MLS Grid
• 2026-03-10 Price Changed $92,900 Muscatine BOR
• 2026-03-03 Listed $99,900 Muscatine BOR
• 2026-03-02 Listed $99,900 MRED as Distributed by MLS Grid
• 2025-08-01 Listed $99,900 IAR
• 2025-07-26 Relisted — IAR
• 2025-05-02 Contingent — IAR
• 2025-03-27 Listed $99,900 IAR
• 2024-10-25 Price Changed $89,900 IAR
• 2024-09-26 Price Changed $99,900 IAR
• 2024-08-05 Listed $114,900 IAR
• 2008-09-25 Sold (Public Records) $110,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,450 · +12.8% YoY. Source: county tax records.