301 N Jefferson St. St · Mount Pleasant, IA 52641

$88,500

6 bd · 4.5 ba · 4,286 sqft · SingleFamily public records · 189 Days on market

Built 1900 0.28 ac lot

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this historic three story home in Mt. Pleasant—packed with charm and endless potential. Featuring beautiful original woodwork, multiple fireplaces, and featuring an excellent location, this property is truly ready for your vision. With abundant bedroom space and room to reimagine every corner, the possibilities are actually limitless. This home was one of 6 George Barber homes built in Mt. Pleasant in the early 1900's. Come take a look and let your imagination go to work. Great opportunity for the right person to bring this once lovely home back to its original splendor!!

Key facts

• Multiple fireplaces
• Original woodwork
• Excellent location

Tags

• HISTORIC HOME
• ORIGINAL WOODWORK
• MULTIPLE FIREPLACES
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 6-bed/4.5-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.3% in Mount Pleasant — 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 84/100 on livability (#20 in IA, #662 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Mount Pleasant Community School District (town): math 63% / reading 66% proficiency, ranked #207 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $612 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 1.28% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.42%
• DSCR: 1.69
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.2%
• Equity multiple: 1.24×
• Total profit: $5,932
• Equity at exit: $13,196

10-year hold

• IRR: 15.5%
• Equity multiple: 2.26×
• Total profit: $31,261
• Equity at exit: $7,652

Cash invested: $24,780 (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 52641

• Home prices YoY: -25.2%
• Active inventory: 93
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,134 medium
• Mortgage (P&I): −$464
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $318

Break-even live

Break-even rent $731

Max offer price $88,500

Occupancy floor 67%

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: $22,125
• Closing costs: $2,655
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $88,500 Active 189 DOM
2. 2026-06-17
   days on market $88,500 Active 188 DOM
3. 2026-06-16
   days on market $88,500 Active 187 DOM
4. 2026-06-15
   days on market $88,500 Active 186 DOM
5. 2026-06-13
   days on market $88,500 Active 184 DOM
6. 2026-06-12
   days on market $88,500 Active 183 DOM
7. 2026-06-09
   days on market $88,500 Active 180 DOM
8. 2026-06-08
   days on market $88,500 Active 179 DOM
9. 2026-06-07
   days on market $88,500 Active 178 DOM
10. 2026-06-07
    days on market $88,500 Active 177 DOM
11. 2026-06-04
    days on market $88,500 Active 174 DOM
12. 2026-06-02
    days on market $88,500 Active 173 DOM
13. 2026-06-01
    days on market $88,500 Active 172 DOM
14. 2026-05-31
    days on market $88,500 Active 171 DOM
15. 2026-05-31
    days on market $88,500 Active 170 DOM
16. 2026-04-22
    status Active 594-char remark

    Show marketing remark (594 chars)

    Check out this historic three story home in Mt. Pleasant—packed with charm and endless potential. Featuring beautiful original woodwork, multiple fireplaces, and featuring an excellent location, this property is truly ready for your vision. With abundant bedroom space and room to reimagine every corner, the possibilities are actually limitless. This home was one of 6 George Barber homes built in Mt. Pleasant in the early 1900's. Come take a look and let your imagination go to work. Great opportunity for the right person to bring this once lovely home back to its original splendor!!

17. 2026-04-02
    status Pending 594-char remark

    Show marketing remark (594 chars)

    Check out this historic three story home in Mt. Pleasant—packed with charm and endless potential. Featuring beautiful original woodwork, multiple fireplaces, and featuring an excellent location, this property is truly ready for your vision. With abundant bedroom space and room to reimagine every corner, the possibilities are actually limitless. This home was one of 6 George Barber homes built in Mt. Pleasant in the early 1900's. Come take a look and let your imagination go to work. Great opportunity for the right person to bring this once lovely home back to its original splendor!!

18. 2025-11-21
    listed $88,500 Active 594-char remark

    Show marketing remark (594 chars)

    Check out this historic three story home in Mt. Pleasant—packed with charm and endless potential. Featuring beautiful original woodwork, multiple fireplaces, and featuring an excellent location, this property is truly ready for your vision. With abundant bedroom space and room to reimagine every corner, the possibilities are actually limitless. This home was one of 6 George Barber homes built in Mt. Pleasant in the early 1900's. Come take a look and let your imagination go to work. Great opportunity for the right person to bring this once lovely home back to its original splendor!!

19. 2022-10-24
    soldstatus $86,400
20. 2015-01-19
    soldstatus $42,950
21. 2015-01-17
    soldstatus $42,950 170-char remark

    Show marketing remark (170 chars)

    This Barber home is being sold as-is. Newer roof on house and garage. Great opportunity for the right person to bring this once lovely home back to its original splendor.

22. 2014-06-24
    listed $49,900 170-char remark

    Show marketing remark (170 chars)

    This Barber home is being sold as-is. Newer roof on house and garage. Great opportunity for the right person to bring this once lovely home back to its original splendor.

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $1,156 · $96/mo
• Expected delta: +$234/yr (+$19/mo · 25.3%)

ⓘ 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 2/10 Low
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,613
• − Mortgage interest: −$4,957
• − Property taxes: −$922
• − Insurance: −$442
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$2,575
• Taxable income: $2,538
• Est. tax owed @ 24.0%: −$609
• After-tax cash flow: $3,211/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: Mount Pleasant Community School District
• NCES district ID: 1919890
• Math proficiency: 63% ▼ -5.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $46,805
• Composite: 54.49/100
• National rank: #1348
• State rank: #207 of 289 in IA

Livability — Mount Pleasant

• Score: 84/100
• State rank: #20
• US rank: #662

Category grades

Amenities B+ 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: Mount Pleasant, IA
• Population (ZIP): 12,796

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.39%
• Current HPI: 179.2437
• 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

+77.4% since first listed

7 events — show timeline

• 2026-04-22 Relisted — IAR
• 2026-04-02 Pending — IAR
• 2025-11-21 Listed $88,500 IAR
• 2022-10-24 Sold (Public Records) $86,400 Public Records
• 2015-01-19 Sold (Public Records) $42,950 Public Records
• 2015-01-17 Sold (MLS) $42,950 IAR
• 2014-06-24 Listed $49,900 IAR

Property tax history

-7.7%/yr

Latest (2025): $922 · +5.5% YoY. Source: county tax records.