317 N Weller St · Ottumwa, IA 52501

$52,500

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 29 Days on market

Built 1910 7,405 sqft lot Est $58k · 9% under

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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 +30.0/30.0
• ARV discount +11.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

Key facts

• Roll-in shower stall
• Eat-in kitchen
• Oversized bathroom

Tags

• WRAP-AROUND FRONT PORCH
• OVERSIZED BATHROOM
• ROLL-IN SHOWER STALL
• EAT-IN KITCHEN
• LOW-MAINTENANCE VINYL SIDING
• FULLY FENCED YARD

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.17 acres (50 x 146)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Gravity heating; No cooling
• Interior features: Gravity heating system; No central cooling

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $52k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 5.9% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $363 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $45k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,712 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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?
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: 2.39% ✓
• Cap rate: 21.01%
• Cash-on-cash: 52.55%
• DSCR: 3.34
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $57,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 N Moore St	0.12mi	2/1.0	796 (+0%)	2mo	$63,500	$80	92
202 N Moore St	0.11mi	2/1.0	878 (+11%)	8mo	$59,000	$67	70
312 S Moore St	0.54mi	2/1.0	812 (+2%)	5mo	$59,500	$73	67
138 S Moore St	0.35mi	2/1.0	864 (+9%)	6mo	$55,000	$64	63
112 S Ransom St	0.35mi	2/1.0	840 (+6%)	12mo	$45,000	$54	63
422 W Finley Ave	0.60mi	2/1.0	832 (+5%)	1mo	$125,000	$150	63
519 S Madison St	0.67mi	2/1.0	800 (+1%)	8mo	$98,900	$124	60
902 Clinton Ave	0.63mi	2/1.0	746 (-6%)	4mo	$45,000	$60	57
513 S Sheridan Ave	0.54mi	2/1.0	867 (+10%)	3mo	$50,000	$58	56
425 S Davis St	0.73mi	3/1.0 (+1)	816 (+3%)	0mo	$164,000	$201	56
612 Clinton Ave	0.58mi	2/1.0	906 (+14%)	1mo	$57,000	$63	48
518 Tuttle St	0.61mi	3/2.0 (+1)	864 (+9%)	0mo	$160,000	$185	47

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: 50.5%
• Equity multiple: 3.21×
• Total profit: $32,506
• Equity at exit: $7,828

10-year hold

• IRR: 56.0%
• Equity multiple: 6.52×
• Total profit: $81,144
• Equity at exit: $4,539

Cash invested: $14,700 (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 52501

• Active inventory: 186
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,256 medium
• Mortgage (P&I): −$275
• Tax from tax record: −$51 /mo · $612/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $644

Break-even live

Break-even rent $441

Max offer price $52,500

Occupancy floor 44%

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: $13,125
• Closing costs: $1,575
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Minneopa Ave Unit 203 Ottumwa, IA	2.0	1.0	700	$1,150	$1.64	43d	1	1.42mi
420 Minneopa Ave Unit 204 Ottumwa, IA	2.0	1.0	800	$1,350	$1.69	43d	1	1.42mi

Listing history 32 events

1. 2026-06-18
   days on market $52,500 Active 29 DOM
2. 2026-06-17
   days on market $52,500 Active 28 DOM
3. 2026-06-16
   days on market $52,500 Active 27 DOM
4. 2026-06-15
   days on market $52,500 Active 26 DOM
5. 2026-06-13
   days on market $52,500 Active 24 DOM
6. 2026-06-12
   days on market $52,500 Active 23 DOM
7. 2026-06-09
   days on market $52,500 Active 20 DOM
8. 2026-06-08
   days on market $52,500 Active 19 DOM
9. 2026-06-07
   days on market $52,500 Active 18 DOM
10. 2026-06-07
    days on market $52,500 Active 17 DOM
11. 2026-06-04
    days on market $52,500 Active 14 DOM
12. 2026-06-02
    days on market $52,500 Active 13 DOM
13. 2026-06-01
    days on market $52,500 Active 12 DOM
14. 2026-05-31
    days on market $52,500 Active 11 DOM
15. 2026-05-31
    days on market $52,500 Active 10 DOM
16. 2026-05-20
    listed $52,500 Active
17. 2026-01-23
    historical $795
18. 2025-12-04
    price $795
19. 2025-10-31
    listed $850
20. 2025-10-30
    historical $850
21. 2025-10-14
    price $850
22. 2025-09-26
    listed $900
23. 2024-08-28
    soldstatus $45,000 Closed 408-char remark

    Show marketing remark (408 chars)

    All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

24. 2024-08-21
    historical $900
25. 2024-08-15
    listed $900
26. 2024-07-12
    status Pending 408-char remark

    Show marketing remark (408 chars)

    All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

27. 2024-07-12
    historical $900

    Show marketing remark (408 chars)

    All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

28. 2024-07-02
    historical Active Under Contract 408-char remark

    Show marketing remark (408 chars)

    All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

29. 2024-07-01
    listed $900
30. 2024-05-22
    listed $55,000 Active 408-char remark

    Show marketing remark (408 chars)

    All-electric two bedroom home on Ottumwa's south side, offers economical living - conveniently located near John Deere and the YMCA. This home has a large wrap-around front porch with wheelchair ramp access. Eat-in kitchen, living room and bedrooms plus an oversized bathroom with roll-in shower stall. Alley access, vinyl siding, and a fenced yard. Here's a decent home now available at an affordable price!

31. 2016-09-15
    soldstatus $22,600 361-char remark

    Show marketing remark (361 chars)

    Here's a one-bedroom dollhouse located south Ottumwa near the YMCA. This handicap accessible HUD-owned property features a ramp to the open front porch; inside you'll find a living room, formal dining room, nice kitchen, enclosed back porch plus a very large accessible bathroom with laundry hook-ups. Alley parking; storage shed. Call today for an appointment.

32. 2016-05-27
    listed $24,800 361-char remark

    Show marketing remark (361 chars)

    Here's a one-bedroom dollhouse located south Ottumwa near the YMCA. This handicap accessible HUD-owned property features a ramp to the open front porch; inside you'll find a living room, formal dining room, nice kitchen, enclosed back porch plus a very large accessible bathroom with laundry hook-ups. Alley parking; storage shed. Call today for an appointment.

ⓘ 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: $612 · $51/mo
• Projected year-2 tax: $718 · $60/mo
• Expected delta: +$106/yr (+$9/mo · 17.3%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,068
• − Mortgage interest: −$2,941
• − Property taxes: −$612
• − Insurance: −$262
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$1,527
• Taxable income: $7,315
• Est. tax owed @ 24.0%: −$1,755
• After-tax cash flow: $5,970/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+111.7% since first listed

17 events — show timeline

• 2026-05-20 Listed $52,500 IAR
• 2026-01-23 Rental Removed $795 TURBOTENANT
• 2025-12-04 Price Changed $795 TURBOTENANT
• 2025-10-31 Listed for Rent $850 TURBOTENANT
• 2025-10-30 Rental Removed $850 BUILDIUM
• 2025-10-14 Price Changed $850 BUILDIUM
• 2025-09-26 Listed for Rent $900 BUILDIUM
• 2024-08-28 Sold (MLS) $45,000 IAR
• 2024-08-21 Rental Removed $900 BUILDIUM
• 2024-08-15 Listed for Rent $900 BUILDIUM
• 2024-07-12 Pending — IAR
• 2024-07-12 Rental Removed $900 TURBOTENANT
• 2024-07-02 Contingent — IAR
• 2024-07-01 Listed for Rent $900 TURBOTENANT
• 2024-05-22 Listed $55,000 IAR
• 2016-09-15 Sold (MLS) $22,600 IAR
• 2016-05-27 Listed $24,800 IAR

Property tax history

+4.0%/yr

Latest (2025): $612 · +5.5% YoY. Source: county tax records.