726 S 4th St · Forest City, IA 50436

$114,000

2 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 64 Days on market

Built 1906 10,019 sqft lot Est $113k · at est.

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Why this score? — see what drove the D 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 +13.4/30.0
• ARV discount +7.2/15.0
• Schools +6.1/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This enchanting 2BR, 1BA home has been exceptionally well kept with meticulous landscaping and moderate updating on the inside. As you enter this home, you will find the laundry in the large entryway and a walkway to the kitchen. White cabinetry and a sit-up peninsula make this kitchen feel cozy and inviting and current appliances will be included in the sale. High ceilings in the dining and living room make the living area feel quite spacious. There are two main level bedrooms and a full bath, all of which have been freshly painted. Ample storage provided throughout the home. The basement has a steel support system and walls have been waterproofed making it great for storage or an additional play area for children. Exterior features attractive pergola above the deck, incredible landscaping and a two stall detached garage. As tax time approaches, make your tax return count this year!

Key facts

• Front deck
• New flooring
• Concrete patio

Tags

• CORNER LOT
• ELEVATED LOT
• FRONT DECK
• NEW FLOORING
• AMPLE CABINET SPACE
• CONCRETE PATIO

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Private maintained road

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Window air conditioning unit(s)
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $2 ($20/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (14.4% below list).
• Recommended offer: $98k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Forest City — 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 (#160 in IA, #2,902 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Forest City Community School District (town): math 67% / reading 78% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Forest City Elementary School (math 62% / reading 72%, grade B+, #273 of 616 statewide, top 51%, 487 students, 39% FRL); Forest City Middle School (math 69% / reading 83%, grade A, #59 of 246 statewide, top 26%, 330 students, 41% FRL); Forest City High School (math 66% / reading 75%, grade B+, #140 of 336 statewide, top 43%, 324 students, 35% FRL).
• Market conditions: 45 active listings in the ZIP; 6 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Winnebago County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 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 $79k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,633 (14.4% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $113,206
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
726 S 4th St	0.00mi	2/1.0	1,058 (0%)	1mo	$112,000	$106	100
315 N 9th St	0.68mi	2/1.5	1,072 (+1%)	5mo	$128,500	$120	60
215 N 10th St	0.65mi	3/1.0 (+1)	1,037 (-2%)	5mo	$61,000	$59	57
245 S Central St St	0.34mi	2/1.0	1,120 (+6%)	21mo	$22,000	$20	57
536 W K St	0.61mi	3/1.5 (+1)	1,046 (-1%)	9mo	$95,000	$91	55
236 E C St	0.18mi	3/2.0 (+1)	1,173 (+11%)	18mo	$95,000	$81	49
212 W L St	0.59mi	2/2.0	1,102 (+4%)	15mo	$158,000	$143	49
335 S 11th St St	0.47mi	2/1.0	904 (-15%)	6mo	$79,500	$88	49
202 N 6th St	0.58mi	2/2.0	1,102 (+4%)	18mo	$160,000	$145	47
206 N 6th St	0.56mi	1/1.5 (-1)	1,102 (+4%)	20mo	$172,000	$156	43
515 W L St	0.68mi	2/1.0	1,194 (+13%)	7mo	$127,500	$107	41
715 W J St	0.64mi	1/2.5 (-1)	1,164 (+10%)	12mo	$155,000	$133	32

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-18,365
• Equity at exit: $16,998

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-15,843
• Equity at exit: $9,857

Cash invested: $31,920 (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 50436

• Home prices YoY: -25.3%
• Active inventory: 45
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $976 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$124 /mo · $1,492/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $2

Break-even live

Break-even rent $974

Max offer price $114,000

Occupancy floor 95%

Sensitivity live

Price	-10% $66	-5% $34	+0% $2	+5% $-31	+10% $-63
Rent	-10% $-75	-5% $-37	+0% $2	+5% $40	+10% $79
Rate	-1.0pp $59	-0.5pp $31	base $2	+0.5pp $-28	+1.0pp $-58

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-07
   statusdays on market $114,000 Pending 64 DOM
2. 2026-06-04
   days on market $114,000 Active Under Contract 62 DOM
3. 2026-06-02
   days on market $114,000 Active Under Contract 61 DOM
4. 2026-06-01
   days on market $114,000 Active Under Contract 60 DOM
5. 2026-05-31
   days on market $114,000 Active Under Contract 59 DOM
6. 2026-05-31
   days on market $114,000 Active Under Contract 58 DOM
7. 2026-04-26
   historical Active Under Contract
8. 2026-04-02
   listed $114,000 Active
9. 2020-07-14
   soldstatus $79,000
10. 2020-07-10
    soldstatus $79,000 896-char remark

    Show marketing remark (896 chars)

    This enchanting 2BR, 1BA home has been exceptionally well kept with meticulous landscaping and moderate updating on the inside. As you enter this home, you will find the laundry in the large entryway and a walkway to the kitchen. White cabinetry and a sit-up peninsula make this kitchen feel cozy and inviting and current appliances will be included in the sale. High ceilings in the dining and living room make the living area feel quite spacious. There are two main level bedrooms and a full bath, all of which have been freshly painted. Ample storage provided throughout the home. The basement has a steel support system and walls have been waterproofed making it great for storage or an additional play area for children. Exterior features attractive pergola above the deck, incredible landscaping and a two stall detached garage. As tax time approaches, make your tax return count this year!

11. 2019-12-11
    listed $77,000 896-char remark

    Show marketing remark (896 chars)

    This enchanting 2BR, 1BA home has been exceptionally well kept with meticulous landscaping and moderate updating on the inside. As you enter this home, you will find the laundry in the large entryway and a walkway to the kitchen. White cabinetry and a sit-up peninsula make this kitchen feel cozy and inviting and current appliances will be included in the sale. High ceilings in the dining and living room make the living area feel quite spacious. There are two main level bedrooms and a full bath, all of which have been freshly painted. Ample storage provided throughout the home. The basement has a steel support system and walls have been waterproofed making it great for storage or an additional play area for children. Exterior features attractive pergola above the deck, incredible landscaping and a two stall detached garage. As tax time approaches, make your tax return count this year!

12. 2007-07-06
    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: $1,492 · $124/mo
• Projected year-2 tax: $1,641 · $137/mo
• Expected delta: +$149/yr (+$12/mo · 10.0%)

ⓘ 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 2/10 Low 7 d/yr ≥100°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: $11,716
• − Mortgage interest: −$6,386
• − Property taxes: −$1,492
• − Insurance: −$570
• − Repairs & maintenance: −$937
• − Management: −$937
• − Depreciation: −$3,316
• Taxable loss: −$1,923
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $481/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: Forest City Community School District
• NCES district ID: 1911790
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 78% ▲ 1.00%
• Median HH income: $46,674
• Composite: 61.08/100
• National rank: #789
• State rank: #111 of 289 in IA

Livability — Forest City

• Score: 77/100
• State rank: #160
• US rank: #2902

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: Forest City, IA
• Population (ZIP): 5,760

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 10,099 people
• By 2030: 9,831 · -2.7%
• By 2040: 9,326 · -7.7%
• By 2050: 9,073 · -10.2%
• By 2075: 9,448 · -6.4%
• By 2100: 10,279 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 6% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Iranian 1%
• Foreign-born: 5% · China, Canada, Vietnam
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Winnebago

• 2024 margin: Solid R (+30.7) · D 33.9% · R 64.6% · Other 1.5%
• 2008→2024 swing: -39.3pp toward R · 2008: 8.6pp · 2024: -30.7pp
• All cycles: 2024: R+30.7 2020: R+26.3 2016: R+26.5 2012: R+0.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.62%
• Current HPI: 187.8639
• 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

+216.7% since first listed

6 events — show timeline

• 2026-04-26 Contingent — IAR
• 2026-04-02 Listed $114,000 IAR
• 2020-07-14 Sold (Public Records) $79,000 Public Records
• 2020-07-10 Sold (MLS) $79,000 IAR
• 2019-12-11 Listed $77,000 IAR
• 2007-07-06 Sold (Public Records) $36,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,492 · +4.5% YoY. Source: county tax records.