522 N 8th St

Albia, IA 52531

$1C

3 bd · 1.0 ba · 1,366 sqft · Built 1973 · Other · Pending · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,157/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $914/mo
• Annual: $10,965/yr
• Cap rate: 1096464.28%
• Cash-on-cash: 3915921.38%
• DSCR: 174237.47
• 1% rule: 115661.00%
• Cash to close: $0

Investor read

• This is a 3-bed/1.0-bath other listed at $1.
• At list price, monthly cash flow is $914 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 68 days — a 6% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Location reads 73/100 on livability (#265 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, 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: 30 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.