1421 Asbury Ave · Ottumwa, IA 52501

$82,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 87 Days on market

Built 1939 6,970 sqft lot $98/sqft · 7% below area Est $88k · 7% under

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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 +30.0/30.0
• ARV discount +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity or starter home on a desirable corner lot! This property offers strong potential with an attached one-car garage for convenient parking and storage, plus an additional shed with electricity—perfect for a workshop or extra space. The fully fenced backyard provides privacy and is ideal for pets or outdoor use. With a functional layout and appealing lot, this home is well-suited as a rental or affordable homeownership option. Don’t miss this versatile opportunity!

Key facts

• Corner lot
• 6,970 sq ft lot
• Garage

Tags

• CORNER LOT
• ATTACHED ONE-CAR GARAGE
• FULLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $77k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 5.7% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 192 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $82k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1939 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.53% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.91%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $88,299
• List price: $82,000
• Delta: -7.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
719 Mckinley Ave	0.09mi	3/1.0 (+1)	890 (+6%)	0mo	$140,000	$157	81
727 Mckinley Ave	0.10mi	3/1.0 (+1)	890 (+6%)	2mo	$115,000	$129	79
1410 Swanson Ave	0.16mi	2/1.0	788 (-6%)	4mo	$87,000	$110	79
736 Mckinley Ave	0.09mi	3/2.0 (+1)	864 (+3%)	4mo	$77,000	$89	78
421 Minneopa Ave	0.38mi	2/1.0	780 (-7%)	0mo	$121,000	$155	70
741 Grace St	0.29mi	2/2.0	904 (+8%)	2mo	$137,000	$152	68
508 N Johnson Ave	0.21mi	2/1.0	720 (-14%)	8mo	$77,000	$107	60
1510 Swanson Ave	0.23mi	3/1.0 (+1)	952 (+13%)	5mo	$48,000	$50	58
1819 Mowrey Ave	0.27mi	3/1.0 (+1)	720 (-14%)	2mo	$135,000	$188	57
1923 Richmond Ave	0.54mi	3/1.0 (+1)	904 (+8%)	8mo	$121,000	$134	51
1513 W Finley Ave	0.63mi	2/1.0	940 (+12%)	2mo	$115,000	$122	49
1502 W Finley Ave	0.66mi	3/1.0 (+1)	952 (+13%)	8mo	$92,500	$97	35

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: 15.9%
• Equity multiple: 1.64×
• Total profit: $14,636
• Equity at exit: $12,226

10-year hold

• IRR: 24.5%
• Equity multiple: 3.12×
• Total profit: $48,734
• Equity at exit: $7,090

Cash invested: $22,960 (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 52501

• Active inventory: 192
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$90 /mo · $1,084/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $438

Break-even live

Break-even rent $702

Max offer price $82,000

Occupancy floor 60%

Sensitivity live

Price	-10% $485	-5% $461	+0% $438	+5% $415	+10% $392
Rent	-10% $339	-5% $389	+0% $438	+5% $488	+10% $538
Rate	-1.0pp $480	-0.5pp $459	base $438	+0.5pp $417	+1.0pp $395

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Minneopa Ave Unit 203 Ottumwa, IA	2.0	1.0	700	$1,150	$1.64	44d	1	0.34mi
420 Minneopa Ave Unit 204 Ottumwa, IA	2.0	1.0	800	$1,350	$1.69	44d	1	0.34mi

Listing history 19 events

1. 2026-06-21
   days on market $82,000 Active 87 DOM
2. 2026-06-18
   days on market $82,000 Active 85 DOM
3. 2026-06-17
   days on market $82,000 Active 84 DOM
4. 2026-06-16
   days on market $82,000 Active 83 DOM
5. 2026-06-15
   days on market $82,000 Active 82 DOM
6. 2026-06-13
   days on market $82,000 Active 80 DOM
7. 2026-06-12
   days on market $82,000 Active 79 DOM
8. 2026-06-09
   days on market $82,000 Active 76 DOM
9. 2026-06-08
   days on market $82,000 Active 75 DOM
10. 2026-06-07
    days on market $82,000 Active 74 DOM
11. 2026-06-07
    days on market $82,000 Active 73 DOM
12. 2026-06-04
    days on market $82,000 Active 70 DOM
13. 2026-06-02
    days on market $82,000 Active 69 DOM
14. 2026-06-01
    days on market $82,000 Active 68 DOM
15. 2026-05-31
    days on market $82,000 Active 67 DOM
16. 2026-05-31
    days on market $82,000 Active 66 DOM
17. 2026-03-25
    listed $90,000 Active 506-char remark

    Show marketing remark (506 chars)

    Great investment opportunity or starter home on a desirable corner lot! This property offers strong potential with an attached one-car garage for convenient parking and storage, plus an additional shed with electricity—perfect for a workshop or extra space. The fully fenced backyard provides privacy and is ideal for pets or outdoor use. With a functional layout and appealing lot, this home is well-suited as a rental or affordable homeownership option. Don’t miss this versatile opportunity!

18. 2015-12-01
    soldstatus $35,000 208-char remark

    Show marketing remark (208 chars)

    Corner lot, close to schools and shopping. 1 or 2 bedrooms. Nice dining area with a bar into the kitchen. Enclosed carport with attached workshop. New furnace and air conditioner installed 2014 Ready to sell!

19. 2015-06-29
    listed $35,000 208-char remark

    Show marketing remark (208 chars)

    Corner lot, close to schools and shopping. 1 or 2 bedrooms. Nice dining area with a bar into the kitchen. Enclosed carport with attached workshop. New furnace and air conditioner installed 2014 Ready to sell!

ⓘ 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: $1,084 · $90/mo
• Projected year-2 tax: $1,186 · $99/mo
• Expected delta: +$102/yr (+$8/mo · 9.4%)

ⓘ 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 3/10 Moderate
• 🌡 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: $15,080
• − Mortgage interest: −$4,593
• − Property taxes: −$1,084
• − Insurance: −$410
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$2,385
• Taxable income: $4,195
• Est. tax owed @ 24.0%: −$1,007
• After-tax cash flow: $4,252/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+157.1% since first listed

3 events — show timeline

• 2026-03-25 Listed $90,000 IAR
• 2015-12-01 Sold (MLS) $35,000 IAR
• 2015-06-29 Listed $35,000 IAR

Property tax history

+3.0%/yr

Latest (2025): $1,084 · +5.2% YoY. Source: county tax records.