410 4th St · Portsmouth, IA 51563

$130,000

2 bd · 1.0 ba · 907 sqft · SingleFamily public records · 52 Days on market

Built 1915 9,148 sqft lot $143/sqft · 12% below area Est $148k · 12% under

---

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).

• ARV discount +12.9/15.0
• Cash flow +7.4/30.0
• Schools +6.3/10.0
• Appreciation +5.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Listing remarks MLS

BEING SOLD AS IS UPPER LEVEL IS FLOORED ATTIC

Key facts

• Newer furnace
• Tennis court
• One story home

Tags

• ONE STORY HOME
• UNFINISHED ATTIC
• NEWER WINDOWS
• NEWER FURNACE
• NEWER AIR CONDITIONER
• TENNIS COURT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.21 acres (62 x 150)

Interior

• Bathrooms: One 3/4 bathroom
• Heating & cooling: Central air conditioning; Forced-air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (28.6% below list).
• Recommended offer: $93k (28.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#497 in IA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Harlan Community School District (town): math 72% / reading 77% proficiency, ranked #81 of 289 in IA (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Harlan Primary (369 students, 44% FRL); Harlan Community Middle School (math 70% / reading 81%, grade A, #65 of 246 statewide, top 29%, 342 students, 36% FRL); Harlan High School (math 77% / reading 82%, grade A-, #34 of 336 statewide, top 14%, 477 students, 31% FRL).
• Market conditions: 3 active listings in the ZIP; 8 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($899 loan paydown + $2k appreciation (1.7% local appreciation)).
• Shelby County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $26k; list at $130k implies a 405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,814 (28.6% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.71% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.45%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

• ARV (median comp): $147,636
• List price: $130,000
• Delta: -11.95%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

1.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.90×
• Total profit: $-3,512
• Equity at exit: $49,234

10-year hold

• IRR: 2.8%
• Equity multiple: 1.38×
• Total profit: $13,653
• Equity at exit: $69,361

Cash invested: $36,400 (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 51563

• Home prices YoY: 1.0%
• Active inventory: 3
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $928 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $-165

Break-even live

Break-even rent $1,137

Max offer price $106,100

Occupancy floor —

Sensitivity live

Price	-10% $-75	-5% $-120	+0% $-165	+5% $-210	+10% $-255
Rent	-10% $-238	-5% $-202	+0% $-165	+5% $-129	+10% $-92
Rate	-1.0pp $-100	-0.5pp $-132	base $-165	+0.5pp $-199	+1.0pp $-233

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $130,000 Active 52 DOM
2. 2026-06-21
   days on market $130,000 Active 51 DOM
3. 2026-06-18
   days on market $130,000 Active 49 DOM
4. 2026-06-17
   days on market $130,000 Active 48 DOM
5. 2026-06-16
   days on market $130,000 Active 47 DOM
6. 2026-06-15
   days on market $130,000 Active 46 DOM
7. 2026-06-13
   days on market $130,000 Active 44 DOM
8. 2026-06-12
   days on market $130,000 Active 43 DOM
9. 2026-06-09
   days on market $130,000 Active 40 DOM
10. 2026-06-08
    days on market $130,000 Active 39 DOM
11. 2026-06-07
    days on market $130,000 Active 38 DOM
12. 2026-06-05
    days on market $130,000 Active 36 DOM
13. 2026-06-04
    days on market $130,000 Active 34 DOM
14. 2026-06-02
    days on market $130,000 Active 33 DOM
15. 2026-06-01
    days on market $130,000 Active 32 DOM
16. 2026-05-31
    days on market $130,000 Active 31 DOM
17. 2026-05-31
    days on market $130,000 Active 30 DOM
18. 2026-04-29
    listed $130,000 Active 851-char remark
19. 2000-11-20
    soldstatus $25,750 47-char remark

    Show marketing remark (47 chars)

    BEING SOLD AS IS UPPER LEVEL IS FLOORED ATTIC

20. 2000-07-21
    listed $36,900 47-char remark

    Show marketing remark (47 chars)

    BEING SOLD AS IS UPPER LEVEL IS FLOORED ATTIC

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $11,138
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$3,782
• Taxable loss: −$4,308
• Est. tax savings @ 24.0%: +$1,034
• After-tax cash flow: $-948/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: Harlan Community School District
• NCES district ID: 1913500
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 77% ▼ -3.00%
• Median HH income: $48,557
• Composite: 62.95/100
• National rank: #656
• State rank: #81 of 289 in IA

Livability — Portsmouth

• Score: 67/100
• State rank: #497
• US rank: #11027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, IA
• Population (ZIP): 708

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 11,637 people
• By 2030: 11,472 · -1.4%
• By 2040: 11,146 · -4.2%
• By 2050: 10,791 · -7.3%
• By 2075: 10,601 · -8.9%
• By 2100: 10,338 · -11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Serbian 3% Romanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.2%
• 2008→2024 swing: -33.3pp toward R · 2008: -9.7pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+40.3 2016: R+42.9 2012: R+22.2 2008: R+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.71%
• Current HPI: 173.9371
• 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

+252.3% since first listed

3 events — show timeline

• 2026-04-29 Listed $130,000 IAR
• 2000-11-20 Sold (MLS) $25,750 SWIAR
• 2000-07-21 Listed $36,900 SWIAR