24011 Ridge Rd · Bernard, IA 52032

$50,000

2 bd · 1.0 ba · 448 sqft · Manufactured public records · 10 Days on market

Built 2018 $500/mo HOA · 63% of rent

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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).

• 1% rule +10.0/10.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Schools +7.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Key facts

• Built 2018
• Listed 9 days

Property features AI

Finance

• Other: Lot dimensions approximately 110 x 166 (0.42 acre); Zoned residential; Subdivision: LOTS 12,13 & 33 BLK UNIT 4 LEISURE LAKE EST
• HOA & community: Homeowners association present (association fee listed)

Exterior

• Utilities: Other water source
• Home design: Single-family detached residence; Residential property
• Construction: Pillar/post/pier foundation; Built area above grade: 896
• Exterior features: Metal roof; Shed(s)

Interior

• Kitchen: Kitchen includes refrigerator, range, and microwave
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Electric heating and other heating; Wall unit cooling
• Interior features: Refrigerator, Range, Microwave; No fireplace; No basement
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $18k (63.5% below list).
• Meets the 1% rule at list price ($793 rent vs $50k).
• Recommended offer: $18k (63.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#489 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Western Dubuque Community School District (rural): math 81% / reading 81% proficiency, ranked #22 of 289 in IA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Cascade Elementary School (math 92% / reading 82%, grade A+, #16 of 616 statewide, top 3%, 282 students, 28% FRL); Drexler Middle School (math 76% / reading 81%, grade A+, #44 of 246 statewide, top 19%, 655 students, 27% FRL); Cascade Junior-Senior High School (math 87% / reading 88%, grade A, #7 of 336 statewide, top 2%, 395 students, 27% FRL).
• Market conditions: 6 active listings in the ZIP; 20 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($346 loan paydown + $3k appreciation (5.8% local appreciation)).
• Jackson County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; HOA is 63% of rent.

Recommended offer $18,271 (63.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.59% ✓
• Cap rate: 0.03%
• Cash-on-cash: -22.38%
• DSCR: 0.00
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.82×
• Total profit: $-2,455
• Equity at exit: $30,787

10-year hold

• IRR: 2.2%
• Equity multiple: 1.48×
• Total profit: $6,653
• Equity at exit: $55,283

Cash invested: $14,000 (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 52032

• Home prices YoY: 3.4%
• Active inventory: 6
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $793 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$104 /mo · $1,252/yr
• Insurance: −$21
• HOA: −$500
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $-261

Break-even live

Break-even rent $1,123

Max offer price $18,271

Occupancy floor —

Sensitivity live

Price	-10% $-233	-5% $-247	+0% $-261	+5% $-275	+10% $-289
Rent	-10% $-324	-5% $-292	+0% $-261	+5% $-230	+10% $-198
Rate	-1.0pp $-236	-0.5pp $-248	base $-261	+0.5pp $-274	+1.0pp $-287

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 8 events

1. 2026-06-22
   days on market $50,000 Active 10 DOM
2. 2026-06-21
   days on market $50,000 Active 9 DOM
3. 2026-06-21
   days on market $50,000 Active 8 DOM
4. 2026-06-18
   days on market $50,000 Active 6 DOM
5. 2026-06-17
   days on market $50,000 Active 5 DOM
6. 2026-06-16
   days on market $50,000 Active 4 DOM
7. 2026-06-15
   days on market $50,000 Active 3 DOM
8. 2026-06-13
   listed $50,000 Active 1 DOM

ⓘ 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: $1,252 · $104/mo
• Projected year-2 tax: $1,252 · $104/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,513
• − Mortgage interest: −$2,801
• − Property taxes: −$1,252
• − Insurance: −$250
• − Repairs & maintenance: −$761
• − Management: −$761
• − HOA: −$6,000
• − Depreciation: −$1,455
• Taxable loss: −$3,767
• Est. tax savings @ 24.0%: +$904
• After-tax cash flow: $-2,229/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: Western Dubuque Community School District
• NCES district ID: 1931350
• Math proficiency: 81% ▼ -2.00%
• Reading proficiency: 81% ▲ 3.00%
• Median HH income: $61,246
• Composite: 69.57/100
• National rank: #299
• State rank: #22 of 289 in IA

Livability — Bernard

• Score: 67/100
• State rank: #489
• US rank: #10858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,277

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 18,736 people
• By 2030: 18,227 · -2.7%
• By 2040: 17,049 · -9.0%
• By 2050: 15,848 · -15.4%
• By 2075: 13,660 · -27.1%
• By 2100: 11,167 · -40.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Native American 3%
• Common ancestry: Slovak 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -56.9pp toward R · 2008: 24.4pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+26.1 2016: R+19.4 2012: D+16.8 2008: D+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.80%
• Current HPI: 174.786
• 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

1 event — show timeline

• 2026-06-12 Listed $50,000 ECIMLS

Property tax history

+29.6%/yr

Latest (2025): $1,252 · +65.6% YoY. Source: county tax records.