1116 Pearl St · Onawa, IA 51040

$138,000

4 bd · 2.0 ba · 1,502 sqft · SingleFamily public records · 75 Days on market

Built 1920 3,485 sqft lot $92/sqft · 20% below area Est $173k · 20% under

---

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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Appreciation +5.4/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come home to 1116 Pearl Street in Onawa. This home is located on a corner lot & features included 4 bedrooms & 2 bathrooms. On the main level you will find the oversized master bedroom, full bathroom, living space, & kitchen area. There is also a great sized entry way for coats, shoes, or even a small play area space. Upstairs is 3 bedrooms that are all good sized & a full bathroom. You have a great sized front porch & a back porch area that has lots of storage space. The basement is completely unfinished with laundry space & lots of storage space. Updates include: new roof in 2024, new interior paint throughout, & main living flooring.

Key facts

• Back porch area
• Corner lot
• 3,485 sq ft lot

Tags

• CORNER LOT
• OVERSIZED MASTER BEDROOM
• GREAT SIZED ENTRY WAY
• GREAT SIZED FRONT PORCH
• BACK PORCH AREA
• LOTS OF STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $138k).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#223 in IA, #4,208 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• West Monona Community School District (town): math 57% / reading 67% proficiency, ranked #240 of 289 in IA (top 83%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Monona Elementary (math 52% / reading 72%, grade B, #363 of 616 statewide, top 62%, 325 students, 47% FRL); West Monona Middle Sch (math 62% / reading 62%, grade B+, #175 of 246 statewide, top 72%, 105 students, 43% FRL); West Monona High School (math 57% / reading 67%, grade B-, #242 of 336 statewide, top 76%, 204 students, 50% FRL).
• Market conditions: 24 active listings in the ZIP; 9 units permitted in Monona County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($954 loan paydown + $1k appreciation (0.8% local appreciation)).
• Monona County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $72k; list at $138k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,719 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 1.06% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

• ARV (median comp): $172,752
• List price: $138,000
• Delta: -20.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1112 12th St	0.26mi	4/1.5	1,570 (+4%)	6mo	$170,000	$108	74
1117 13th St	0.28mi	3/1.0 (-1)	1,510 (+0%)	5mo	$50,000	$33	73
310 14th St	0.46mi	3/2.0 (-1)	1,498 (-0%)	0mo	$285,000	$190	73
915 4th St	0.57mi	4/2.0	1,492 (-1%)	0mo	$229,000	$153	72
1302 Emerald St	0.38mi	3/2.0 (-1)	1,400 (-7%)	2mo	$230,000	$164	65
1702 Sunset Dr	0.35mi	3/2.0 (-1)	1,620 (+8%)	2mo	$230,000	$142	64
1214 Diamond St	0.20mi	4/2.0	1,674 (+12%)	12mo	$88,000	$53	61
812 11th St	0.05mi	3/1.0 (-1)	1,336 (-11%)	13mo	$164,000	$123	60
616 14th St	0.25mi	3/2.0 (-1)	1,296 (-14%)	2mo	$173,000	$133	59
1213 10th St	0.38mi	4/1.0	1,378 (-8%)	7mo	$139,000	$101	59
1220 12th St	0.38mi	4/1.0	1,388 (-8%)	12mo	$17,000	$12	56
709 3rd St	0.64mi	3/1.0 (-1)	1,278 (-15%)	3mo	$205,000	$160	34

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

Projected returns pro-forma

0.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.44×
• Total profit: $17,155
• Equity at exit: $45,775

10-year hold

• IRR: 13.0%
• Equity multiple: 2.54×
• Total profit: $59,692
• Equity at exit: $59,812

Cash invested: $38,640 (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 51040

• Home prices YoY: 0.4%
• Active inventory: 24
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,469 medium
• Mortgage (P&I): −$724
• Tax from tax record: −$130 /mo · $1,566/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $249

Break-even live

Break-even rent $1,154

Max offer price $138,000

Occupancy floor 78%

Sensitivity live

Price	-10% $327	-5% $288	+0% $249	+5% $210	+10% $170
Rent	-10% $133	-5% $191	+0% $249	+5% $307	+10% $365
Rate	-1.0pp $318	-0.5pp $284	base $249	+0.5pp $213	+1.0pp $176

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $138,000 Active 75 DOM
2. 2026-06-21
   days on market $138,000 Active 74 DOM
3. 2026-06-21
   days on market $138,000 Active 73 DOM
4. 2026-06-18
   days on market $138,000 Active 71 DOM
5. 2026-06-17
   days on market $138,000 Active 70 DOM
6. 2026-06-16
   days on market $138,000 Active 69 DOM
7. 2026-06-15
   days on market $138,000 Active 68 DOM
8. 2026-06-13
   days on market $138,000 Active 66 DOM
9. 2026-06-12
   days on market $138,000 Active 65 DOM
10. 2026-06-09
    days on market $138,000 Active 62 DOM
11. 2026-06-08
    days on market $138,000 Active 61 DOM
12. 2026-06-07
    days on market $138,000 Active 60 DOM
13. 2026-06-07
    days on market $138,000 Active 59 DOM
14. 2026-06-04
    days on market $138,000 Active 56 DOM
15. 2026-06-02
    days on market $138,000 Active 55 DOM
16. 2026-06-01
    days on market $138,000 Active 54 DOM
17. 2026-05-31
    days on market $138,000 Active 53 DOM
18. 2026-05-31
    days on market $138,000 Active 52 DOM
19. 2026-04-08
    listed $138,000 Active 684-char remark

    Show marketing remark (684 chars)

    Come home to 1116 Pearl Street in Onawa. This home is located on a corner lot & features included 4 bedrooms & 2 bathrooms. On the main level you will find the oversized master bedroom, full bathroom, living space, & kitchen area. There is also a great sized entry way for coats, shoes, or even a small play area space. Upstairs is 3 bedrooms that are all good sized & a full bathroom. You have a great sized front porch & a back porch area that has lots of storage space. The basement is completely unfinished with laundry space & lots of storage space. Updates include: new roof in 2024, new interior paint throughout, & main living flooring.

20. 2025-06-09
    listed $138,000 Active
21. 2025-04-17
    price $138,000
22. 2025-02-19
    price $139,000
23. 2025-01-21
    listed $149,000 Active
24. 2024-07-12
    listed $149,000 Active
25. 2015-11-06
    soldstatus $72,500
26. 2015-11-05
    soldstatus $80,000
27. 2000-12-28
    soldstatus $75,000

ⓘ 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: $1,566 · $130/mo
• Projected year-2 tax: $1,866 · $156/mo
• Expected delta: +$300/yr (+$25/mo · 19.2%)

ⓘ 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 ≥104°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: $17,625
• − Mortgage interest: −$7,730
• − Property taxes: −$1,566
• − Insurance: −$690
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$4,015
• Taxable income: $804
• Est. tax owed @ 24.0%: −$193
• After-tax cash flow: $2,790/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: West Monona Community School District
• NCES district ID: 1931110
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 67% ▲ 1.00%
• Median HH income: $38,925
• Composite: 51.64/100
• National rank: #1697
• State rank: #240 of 289 in IA

Livability — Onawa

• Score: 75/100
• State rank: #223
• US rank: #4208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Onawa, IA
• City population: 3,388
• Population (ZIP): 3,388

Population outlook (Monona County) Hauer SSP2

• Today (2025): 8,622 people
• By 2030: 8,419 · -2.4%
• By 2040: 7,994 · -7.3%
• By 2050: 7,586 · -12.0%
• By 2075: 7,204 · -16.4%
• By 2100: 6,612 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Portuguese 2% Romanian 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Monona

• 2024 margin: Solid R (+45.4) · D 26.8% · R 72.2% · Other 1.1%
• 2008→2024 swing: -43.0pp toward R · 2008: -2.4pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+38.9 2016: R+41.4 2012: R+9.7 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.81%
• Current HPI: 217.2446
• 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

+84.0% since first listed

9 events — show timeline

• 2026-04-08 Listed $138,000 NWIA
• 2025-06-09 Listed $138,000 NWIA
• 2025-04-17 Price Changed $138,000 NWIA
• 2025-02-19 Price Changed $139,000 NWIA
• 2025-01-21 Listed $149,000 NWIA
• 2024-07-12 Listed $149,000 NWIA
• 2015-11-06 Sold (Public Records) $72,500 Public Records
• 2015-11-05 Sold (Public Records) $80,000 Public Records
• 2000-12-28 Sold (Public Records) $75,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,566 · -0.5% YoY. Source: county tax records.