1216 7th Ave · Wellman, IA 52356

$169,900

3 bd · 1.0 ba · 1,256 sqft · SingleFamily public records · 2 Days on market

Built 1943 8,276 sqft lot Est $172k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +8.1/15.0
• Cash flow +7.8/30.0
• Schools +5.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.9/10.0

Listing remarks

Move-in ready ranch in Wellman with extensive updates throughout! Featuring 3 bedrooms and 1 bathroom, this open concept home has been extensively renovated. New carpet and LVP flooring connect the living room, kitchen, and dining area. The kitchen shines with refinished cabinetry, while the light-filled living room offers a gas fireplace and French doors leading to a covered back patio. The bathroom has been fully updated with a new tub/shower, flooring, and vanity. You’ll also love the convenience of main-level laundry with a newer washer and dryer included! Heated floors run through the bathroom, laundry room, and part of the kitchen for extra comfort. The home features smart light

Key facts

• 8,276 sq ft lot
• 2 parking spots
• Built 1943

Property features AI

Finance

• HOA & community: Association fee billed annually; Street lights in the community

Exterior

• Parking: Off-street parking with parking pad (2 spaces total)
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding and frame construction; Slab foundation
• Exterior features: Patio; Fenced yard; Shed

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Solar hot water
• Bedrooms: Primary bedroom located on the main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Master suite on the main level; Fireplace in the living room (gas)
• Laundry & utility: Main level laundry room; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (19.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (31.5% below list).
• Recommended offer: $116k (31.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#299 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Mid-Prairie Community School District (rural): math 66% / reading 72% proficiency, ranked #149 of 289 in IA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Mid-Prairie West Elem. School (math 63% / reading 66%, grade B, #317 of 616 statewide, top 58%, 350 students, 21% FRL); Mid-Prairie Middle School (math 68% / reading 71%, grade A, #113 of 246 statewide, top 49%, 430 students, 27% FRL); Mid-Prairie High School (math 64% / reading 74%, grade B, #176 of 336 statewide, top 53%, 379 students, 21% FRL) — zoned schools at 23% FRL track the district average.
• Market conditions: 9 active listings in the ZIP; 42 units permitted in Washington County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Washington County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,434 (31.5% 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. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.69% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $172,072
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 Circle Dr	0.24mi	2/1.0 (-1)	1,223 (-3%)	12mo	$238,000	$195	70
711 10th Ave	0.43mi	3/2.0	1,224 (-2%)	7mo	$214,000	$175	66
1012 8th Ave	0.19mi	3/1.5	1,429 (+14%)	0mo	$193,000	$135	66
407 5th St	0.55mi	3/1.0	1,274 (+1%)	19mo	$175,000	$137	56
708 9th Ave	0.40mi	2/2.0 (-1)	1,281 (+2%)	19mo	$140,000	$109	53
1110 9th Ave	0.17mi	3/2.0	1,440 (+15%)	21mo	$250,000	$174	46
305 3rd St	0.69mi	3/1.0	1,276 (+2%)	23mo	$194,900	$153	46
1306 1st Ave	0.39mi	3/1.0	1,400 (+12%)	23mo	$125,000	$89	44
808 4th St	0.57mi	3/2.0	1,436 (+14%)	15mo	$156,000	$109	33

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.70×
• Total profit: $80,676
• Equity at exit: $153,059

10-year hold

• IRR: 19.0%
• Equity multiple: 6.19×
• Total profit: $246,833
• Equity at exit: $330,078

Cash invested: $47,572 (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 52356

• Home prices YoY: 11.7%
• Active inventory: 9
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,164 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$144 /mo · $1,726/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-186

Break-even live

Break-even rent $1,399

Max offer price $137,084

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-138	+0% $-186	+5% $-234	+10% $-282
Rent	-10% $-278	-5% $-232	+0% $-186	+5% $-140	+10% $-94
Rate	-1.0pp $-100	-0.5pp $-143	base $-186	+0.5pp $-230	+1.0pp $-275

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-12
   status Pending
2. 2026-04-10
   listed $169,900 Active

ⓘ 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: $1,726 · $144/mo
• Projected year-2 tax: $2,197 · $183/mo
• Expected delta: +$471/yr (+$39/mo · 27.3%)

ⓘ 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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,972
• − Mortgage interest: −$9,517
• − Property taxes: −$1,726
• − Insurance: −$850
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$4,943
• Taxable loss: −$5,298
• Est. tax savings @ 24.0%: +$1,272
• After-tax cash flow: $-958/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: Mid-Prairie Community School District
• NCES district ID: 1919140
• Math proficiency: 66% ▼ -5.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $55,819
• Composite: 59.08/100
• National rank: #956
• State rank: #149 of 289 in IA

Livability — Wellman

• Score: 72/100
• State rank: #299
• US rank: #5800

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellman, IA
• Population (ZIP): 2,754

Population outlook (Washington County) Hauer SSP2

• Today (2025): 23,102 people
• By 2030: 23,487 · +1.7%
• By 2040: 24,164 · +4.6%
• By 2050: 24,595 · +6.5%
• By 2075: 25,969 · +12.4%
• By 2100: 24,700 · +6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 4% Lithuanian 3% Slovak 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+24.4) · D 37.2% · R 61.6% · Other 1.2%
• 2008→2024 swing: -23.7pp toward R · 2008: -0.7pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+20.5 2016: R+20.6 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.04%
• Current HPI: 286.5216
• 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

2 events — show timeline

• 2026-04-12 Pending — ICAARMLS
• 2026-04-10 Listed $169,900 ICAARMLS

Property tax history

+3.2%/yr

Latest (2025): $1,726 · +4.7% YoY. Source: county tax records.