106 Kilbourn Ave · Denmark, IA 52624

$122,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 162 Days on market

Built 1973 0.30 ac lot $127/sqft · 15% below area Est $143k · 15% under

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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 +15.6/30.0
• ARV discount +14.1/15.0
• Appreciation +7.3/10.0
• DSCR +4.8/10.0
• Schools +4.8/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover this inviting 3 bedroom, 1 bathroom home with a one car attached garage, located in the welcoming town of Denmark. This move-in-ready property offers plenty of potential to make it your own. Call today to schedule a showing!

Key facts

• 0.3 acre lot
• Garage
• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $51 ($606/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (9.8% below list).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#361 in IA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Fort Madison Community School District (town): math 55% / reading 58% proficiency, ranked #260 of 289 in IA (top 90%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($843 loan paydown + $6k appreciation (4.5% local appreciation)).
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $102k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $107,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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 1973 — 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 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. 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: 0.90% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (median comp): $143,148
• List price: $122,000
• Delta: -14.77%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Turner Ave	0.13mi	2/1.0 (-1)	896 (-7%)	9mo	$155,000	$173	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.82×
• Total profit: $28,132
• Equity at exit: $65,724

10-year hold

• IRR: 14.3%
• Equity multiple: 3.46×
• Total profit: $83,888
• Equity at exit: $110,706

Cash invested: $34,160 (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 52624

• Home prices YoY: 4.2%
• Active inventory: 1
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $51

Break-even live

Break-even rent $1,036

Max offer price $122,000

Occupancy floor 90%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $122,000 Active 162 DOM
2. 2026-06-18
   days on market $122,000 Active 161 DOM
3. 2026-06-17
   days on market $122,000 Active 160 DOM
4. 2026-06-16
   days on market $122,000 Active 159 DOM
5. 2026-06-15
   days on market $122,000 Active 158 DOM
6. 2026-06-14
   days on market $122,000 Active 156 DOM
7. 2026-06-12
   pricedays on market $122,000 Active 155 DOM
8. 2026-06-09
   days on market $125,000 Active 152 DOM
9. 2026-06-08
   days on market $125,000 Active 151 DOM
10. 2026-06-07
    days on market $125,000 Active 150 DOM
11. 2026-06-07
    days on market $125,000 Active 149 DOM
12. 2026-06-03
    days on market $125,000 Active 146 DOM
13. 2026-06-02
    days on market $125,000 Active 145 DOM
14. 2026-06-01
    days on market $125,000 Active 144 DOM
15. 2026-05-31
    days on market $125,000 Active 143 DOM
16. 2026-05-30
    days on market $125,000 Active 142 DOM
17. 2026-03-30
    status Active 233-char remark

    Show marketing remark (233 chars)

    Discover this inviting 3 bedroom, 1 bathroom home with a one car attached garage, located in the welcoming town of Denmark. This move-in-ready property offers plenty of potential to make it your own. Call today to schedule a showing!

18. 2026-01-19
    historical Active Under Contract 233-char remark

    Show marketing remark (233 chars)

    Discover this inviting 3 bedroom, 1 bathroom home with a one car attached garage, located in the welcoming town of Denmark. This move-in-ready property offers plenty of potential to make it your own. Call today to schedule a showing!

19. 2026-01-08
    listed $125,000 Active 233-char remark

    Show marketing remark (233 chars)

    Discover this inviting 3 bedroom, 1 bathroom home with a one car attached garage, located in the welcoming town of Denmark. This move-in-ready property offers plenty of potential to make it your own. Call today to schedule a showing!

20. 2019-12-11
    soldstatus $102,000
21. 2019-12-11
    soldstatus $102,000
22. 2019-12-05
    soldstatus $102,000 324-char remark

    Show marketing remark (324 chars)

    This sunny 3 bedroom ranch offers newer laminate flooring, stainless appliances, newer vinyl windows, siding and roof. Bix has professionally waterproofed lower level and has a triple backup on sump pump. 200 amp electrical, city services, rathbun water, all electric home. Attached one car garage completes this doll house.

23. 2019-08-19
    listed $104,900 324-char remark

    Show marketing remark (324 chars)

    This sunny 3 bedroom ranch offers newer laminate flooring, stainless appliances, newer vinyl windows, siding and roof. Bix has professionally waterproofed lower level and has a triple backup on sump pump. 200 amp electrical, city services, rathbun water, all electric home. Attached one car garage completes this doll house.

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $1,725 · $144/mo
• Expected delta: +$191/yr (+$16/mo · 12.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,200
• − Mortgage interest: −$6,834
• − Property taxes: −$1,534
• − Insurance: −$610
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$3,549
• Taxable loss: −$1,439
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $952/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: Fort Madison Community School District
• NCES district ID: 1911850
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $46,801
• Composite: 47.87/100
• National rank: #2218
• State rank: #260 of 289 in IA

Livability — Denmark

• Score: 70/100
• State rank: #361
• US rank: #7538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Denmark, IA
• City population: 709
• Population (ZIP): 709

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Romanian 3%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.54%
• Current HPI: 111.3586
• 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

+19.2% since first listed

7 events — show timeline

• 2026-03-30 Relisted — IAR
• 2026-01-19 Contingent — IAR
• 2026-01-08 Listed $125,000 IAR
• 2019-12-11 Sold (Public Records) $102,000 Public Records
• 2019-12-11 Sold (Public Records) $102,000 Public Records
• 2019-12-05 Sold (MLS) $102,000 IAR
• 2019-08-19 Listed $104,900 IAR

Property tax history

+4.5%/yr

Latest (2025): $1,534 · +1.1% YoY. Source: county tax records.