702 4th Ave · Sheldon, IA 51201

$145,000

3 bd · 3.5 ba · 1,808 sqft · SingleFamily public records · 19 Days on market

Built 1910 4,160 sqft lot Est $202k · 28% 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 +16.5/30.0
• ARV discount +15.0/15.0
• Schools +6.4/10.0
• DSCR +5.1/10.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice Well maintained 1 1/2 story home. 4 Bedrooms, 2 Baths, Living room & Family rooms both on the Main Floor. Maintenance Free Exterior with Vinyl Siding. Oversize detached Garage with easy access to the back door. All offers to be submitted on www. HUDHomestore. gov. Case # 161-423326

Key facts

• 4,160 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Detached concrete garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Vinyl siding construction; Shingle roof; Full basement
• Exterior features: Deck; Patio; Shingle roof; Vinyl siding

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $132k (8.9% below list).
• Recommended offer: $132k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.6% in Sheldon — 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 (#23 in IA, #688 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Sheldon Community School District (town): math 74% / reading 78% proficiency, ranked #63 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Sheldon Middle School (math 70% / reading 78%, grade A, #83 of 246 statewide, top 34%, 320 students, 47% FRL); Sheldon High School (math 73% / reading 81%, grade A-, #60 of 336 statewide, top 21%, 342 students, 39% FRL).
• Market conditions: 49 active listings in the ZIP; 13 units permitted in O'Brien County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• O'Brien County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,059 (8.9% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $202,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 9th Ave	0.39mi	3/2.0	1,736 (-4%)	0mo	$217,000	$125	69
702 7th St	0.24mi	4/1.5 (+1)	1,880 (+4%)	1mo	$239,000	$127	68
905 6th St	0.42mi	4/2.0 (+1)	1,720 (-5%)	3mo	$193,000	$112	58
610 Park Row	0.40mi	4/2.0 (+1)	1,702 (-6%)	3mo	$90,000	$53	58
515 8th Ave	0.36mi	3/1.0	1,627 (-10%)	1mo	$162,000	$100	55
1144 11th St	0.70mi	3/2.0	1,744 (-4%)	3mo	$187,000	$107	53
1024 7th St	0.50mi	4/2.0 (+1)	1,950 (+8%)	1mo	$269,900	$138	52
412 Washington Ave	0.54mi	2/2.0 (-1)	1,720 (-5%)	7mo	$260,000	$151	50
1309 Iselin Ave	0.56mi	3/2.0	1,616 (-11%)	1mo	$84,000	$52	50
823 8th	0.37mi	4/2.0 (+1)	1,592 (-12%)	3mo	$83,000	$52	49
1301 14th St	0.73mi	3/2.0	1,704 (-6%)	3mo	$115,500	$68	48
230 N 10th Ave	0.65mi	3/3.5	1,980 (+10%)	8mo	$250,000	$126	48

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: -12.3%
• Equity multiple: 0.55×
• Total profit: $-18,113
• Equity at exit: $21,620

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-8,860
• Equity at exit: $12,537

Cash invested: $40,600 (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 51201

• Home prices YoY: -25.9%
• Active inventory: 49
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $85

Break-even live

Break-even rent $1,213

Max offer price $145,000

Occupancy floor 89%

Sensitivity live

Price	-10% $167	-5% $126	+0% $85	+5% $44	+10% $3
Rent	-10% $-20	-5% $32	+0% $85	+5% $137	+10% $189
Rate	-1.0pp $158	-0.5pp $121	base $85	+0.5pp $47	+1.0pp $9

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $145,000 Active 19 DOM
2. 2026-06-18
   days on market $145,000 Active 17 DOM
3. 2026-06-17
   days on market $145,000 Active 16 DOM
4. 2026-06-16
   days on market $145,000 Active 15 DOM
5. 2026-06-15
   days on market $145,000 Active 14 DOM
6. 2026-06-13
   days on market $145,000 Active 12 DOM
7. 2026-06-12
   days on market $145,000 Active 11 DOM
8. 2026-06-09
   days on market $145,000 Active 8 DOM
9. 2026-06-08
   days on market $145,000 Active 7 DOM
10. 2026-06-07
    days on market $145,000 Active 6 DOM
11. 2026-06-05
    days on market $145,000 Active 4 DOM
12. 2026-06-04
    days on market $145,000 Active 2 DOM
13. 2026-06-01
    remarks 289-char remark
14. 2026-06-01
    listed $145,000 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: $1,654 · $138/mo
• Projected year-2 tax: $1,965 · $164/mo
• Expected delta: +$311/yr (+$26/mo · 18.8%)

ⓘ 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 ≥101°F today · 14 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: $15,847
• − Mortgage interest: −$8,122
• − Property taxes: −$1,654
• − Insurance: −$725
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$4,218
• Taxable loss: −$1,408
• Est. tax savings @ 24.0%: +$338
• After-tax cash flow: $1,353/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: Sheldon Community School District
• NCES district ID: 1925980
• Math proficiency: 74% ▼ -4.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $50,644
• Composite: 64.39/100
• National rank: #545
• State rank: #63 of 289 in IA

Livability — Sheldon

• Score: 84/100
• State rank: #23
• US rank: #688

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheldon, IA
• City population: 6,226
• Population (ZIP): 6,226

Population outlook (O'Brien County) Hauer SSP2

• Today (2025): 13,353 people
• By 2030: 13,040 · -2.3%
• By 2040: 12,422 · -7.0%
• By 2050: 11,887 · -11.0%
• By 2075: 11,132 · -16.6%
• By 2100: 10,176 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Iranian 24% Portuguese 6% Ukrainian 2%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Arabic 2%

Political lean MEDSL · O'Brien

• 2024 margin: Solid R (+60.9) · D 19.0% · R 80.0% · Other 1.0%
• 2008→2024 swing: -26.1pp toward R · 2008: -34.9pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+56.8 2016: R+60.2 2012: R+45.2 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.15%
• Current HPI: 214.5955
• 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

+150.0% since first listed

5 events — show timeline

• 2026-05-29 Listed $145,000 NWIA
• 2023-03-02 Sold (Public Records) $150,000 Public Records
• 2019-11-22 Sold (Public Records) $48,000 Public Records
• 2019-11-15 Sold (MLS) $48,250 NWIA
• 2019-07-08 Listed $58,000 NWIA

Property tax history

+1.0%/yr

Latest (2025): $1,654 · +2.1% YoY. Source: county tax records.