308 N Polk St · Pleasantville, IA 50225

$59,900

3 bd · 2.0 ba · 832 sqft · SingleFamily public records · 4 Days on market

Built 1961 4,312 sqft lot

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Why this score? — see what drove the C+ 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 +22.2/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Schools +5.8/10.0
• Livability +3.6/5.0
• Appreciation +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investor opportunity with this 2 bed, 1 bath home in the heart of Pleasantville within walking distance to library, schools, city park, ballfields, Smokey Row & Checkerboard restuarants. Flip this home and resell or converting to a rental is a huge need in the area. Lots of possibilies to build equity with this 832 sqft ranch home w/ a detached garage & unfinished basement. Home sold in as-is condition as part of an estate sale.

Key facts

• 4,312 sq ft lot
• Garage
• Built 1961

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property
• Construction: Wood siding; Block foundation; Asphalt shingle roof
• Exterior features: Rectangular lot; Concrete road frontage

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Dining area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($772 rent vs $60k).

Location & tenants

• Location reads 72/100 on livability (#318 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Pleasantville Community School District (rural): math 67% / reading 68% proficiency, ranked #169 of 289 in IA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $171,392
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Columbus St N	0.15mi	3/1.0	786 (-6%)	3mo	$153,000	$195	78
307.5 N Columbus St	0.13mi	3/1.0	810 (-3%)	18mo	$130,000	$160	71
303 E Jasper St	0.28mi	2/1.0 (-1)	864 (+4%)	6mo	$173,000	$200	66
608 E Jasper St	0.43mi	2/2.0 (-1)	864 (+4%)	20mo	$178,000	$206	52
507 Fairview Dr	0.63mi	3/2.0	866 (+4%)	23mo	$215,000	$248	44
302 E Jasper St	0.25mi	3/1.0	720 (-14%)	22mo	$185,000	$257	43

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-3,435
• Equity at exit: $8,931

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $5,285
• Equity at exit: $5,179

Cash invested: $16,772 (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 50225

• Home prices YoY: -1.8%
• Active inventory: 20
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $772 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$174 /mo · $2,082/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$162
• Net cashflow: $97

Break-even live

Break-even rent $649

Max offer price $59,900

Occupancy floor 82%

Sensitivity live

Price	-10% $131	-5% $114	+0% $97	+5% $80	+10% $63
Rent	-10% $36	-5% $67	+0% $97	+5% $128	+10% $158
Rate	-1.0pp $127	-0.5pp $113	base $97	+0.5pp $82	+1.0pp $66

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $59,900 Active 4 DOM
2. 2026-06-18
   days on market $59,900 Active 3 DOM
3. 2026-06-17
   days on market $59,900 Active 2 DOM
4. 2026-06-16
   remarks 442-char remark
5. 2026-06-16
   listed $59,900 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: $2,082 · $174/mo
• Projected year-2 tax: $2,082 · $174/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 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,264
• − Mortgage interest: −$3,355
• − Property taxes: −$2,082
• − Insurance: −$300
• − Repairs & maintenance: −$741
• − Management: −$741
• − Depreciation: −$1,743
• Taxable income: $303
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $1,095/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: Pleasantville Community School District
• NCES district ID: 1923160
• Math proficiency: 67% ▼ -6.00%
• Reading proficiency: 68% ▼ -12.00%
• Median HH income: $54,306
• Composite: 57.71/100
• National rank: #1057
• State rank: #169 of 289 in IA

Livability — Pleasantville

• Score: 72/100
• State rank: #318
• US rank: #6375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, IA
• City population: 3,396
• Population (ZIP): 3,396

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 2% Asian 2% Hispanic / Latino 1%
• Common ancestry: Iranian 9% Italian 3% Slovak 3%
• Foreign-born: 1% · United Kingdom

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.88%
• Current HPI: 274.5416
• 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

• 2026-06-15 Listed $59,900 DMMLS

Property tax history

+5.1%/yr

Latest (2025): $2,082 · +1.8% YoY. Source: county tax records.