1109 Cyclone Ave · Harlan, IA 51537

$79,900

2 bd · 1.5 ba · 1,102 sqft · SingleFamily public records · 316 Days on market

Built 1934 0.27 ac lot $73/sqft · 44% below area Est $105k · 24% 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 +19.5/30.0
• ARV discount +15.0/15.0
• Schools +6.3/10.0
• DSCR +6.2/10.0
• 1% rule +5.6/10.0
• 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

Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

Key facts

• Large corner lot
• Eat-in kitchen
• Basement storage

Tags

• DETACHED GARAGE
• LARGE CORNER LOT
• SPACIOUS LIVING ROOM
• EAT-IN KITCHEN
• BASEMENT STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.1% in Harlan — 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 (#79 in IA, #1,656 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Harlan Community School District (town): math 72% / reading 77% proficiency, ranked #81 of 289 in IA (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 34 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 8 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Shelby County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 316 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $80k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 316 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 1934 — 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 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?
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: 1.06% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• GRM: 7.9

CMA / ARV

• ARV (median comp): $104,734
• List price: $79,900
• Delta: -23.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
907 Main St	0.23mi	2/1.0	1,076 (-2%)	1mo	$90,000	$84	82
907 Main St	0.23mi	2/1.0	1,076 (-2%)	19mo	$120,000	$112	68
712 Tarkington St	0.29mi	2/1.5	1,119 (+2%)	23mo	$84,800	$76	65
911 Laurel St	0.58mi	2/2.0	1,188 (+8%)	2mo	$170,000	$143	57
1405 Durant St	0.37mi	3/2.0 (+1)	1,077 (-2%)	22mo	$216,250	$201	53
912 Laurel St	0.55mi	3/1.0 (+1)	1,134 (+3%)	16mo	$115,000	$101	49
1012 15th St	0.36mi	3/2.5 (+1)	1,241 (+13%)	14mo	$189,000	$152	42
506 Willow St	0.61mi	3/1.0 (+1)	1,023 (-7%)	20mo	$33,000	$32	36
1632 Victoria St	0.63mi	3/2.0 (+1)	1,234 (+12%)	14mo	$185,000	$150	32

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-7,102
• Equity at exit: $11,913

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $1,417
• Equity at exit: $6,908

Cash invested: $22,372 (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 51537

• Home prices YoY: -26.9%
• Active inventory: 34
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $843 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$122 /mo · $1,470/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $91

Break-even live

Break-even rent $728

Max offer price $79,900

Occupancy floor 84%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 12th St Harlan, IA	2.0	1.0	700	$700	$1.00	43d	1	0.21mi
611 Gary Scull Dr Unit 13-203 Harlan, IA	2.0	1.0	960	$1,056	$1.10	43d	1	0.49mi
611 Gary Scull Dr Unit 13-204 Harlan, IA	2.0	1.0	960	$875	$0.91	43d	1	0.49mi

Listing history 25 events

1. 2026-06-18
   days on market $79,900 Active 316 DOM
2. 2026-06-17
   days on market $79,900 Active 315 DOM
3. 2026-06-16
   days on market $79,900 Active 314 DOM
4. 2026-06-15
   days on market $79,900 Active 313 DOM
5. 2026-06-13
   days on market $79,900 Active 311 DOM
6. 2026-06-12
   days on market $79,900 Active 310 DOM
7. 2026-06-09
   days on market $79,900 Active 307 DOM
8. 2026-06-08
   days on market $79,900 Active 306 DOM
9. 2026-06-07
   days on market $79,900 Active 305 DOM
10. 2026-06-05
    days on market $79,900 Active 303 DOM
11. 2026-06-04
    pricedays on market $79,900 Active 301 DOM
12. 2026-06-02
    days on market $83,500 Active 300 DOM
13. 2026-06-01
    days on market $83,500 Active 299 DOM
14. 2026-05-31
    days on market $83,500 Active 298 DOM
15. 2026-05-31
    days on market $83,500 Active 297 DOM
16. 2026-04-20
    price $83,500 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

17. 2026-02-16
    status Active 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

18. 2026-01-17
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

19. 2025-10-19
    price $85,500 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

20. 2025-09-14
    status Active 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

21. 2025-08-30
    historical Active Under Contract 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

22. 2025-07-25
    price $89,900 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

23. 2025-07-07
    price $98,900 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

24. 2025-07-07
    listed $90,900 Active 367-char remark

    Show marketing remark (367 chars)

    Renovate this 2-bedroom home with a detached 1-car garage on a large corner lot near churches and downtown Harlan. Features a spacious living room, eat-in kitchen, and 2 bedrooms. The basement offers a bath, laundry area, and storage. New shingles on home and garage! Offered in "AS IS" Condition. Great opportunity to transform this home. Motivated seller.

25. 2010-12-15
    soldstatus $45,000

ⓘ 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: $1,470 · $122/mo
• Projected year-2 tax: $1,470 · $122/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°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: $10,119
• − Mortgage interest: −$4,476
• − Property taxes: −$1,470
• − Insurance: −$400
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$2,324
• Taxable loss: −$170
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $1,137/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: Harlan Community School District
• NCES district ID: 1913500
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 77% ▼ -3.00%
• Median HH income: $48,557
• Composite: 62.95/100
• National rank: #656
• State rank: #81 of 289 in IA

Livability — Harlan

• Score: 80/100
• State rank: #79
• US rank: #1656

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: Harlan, IA
• Population (ZIP): 6,480

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 11,637 people
• By 2030: 11,472 · -1.4%
• By 2040: 11,146 · -4.2%
• By 2050: 10,791 · -7.3%
• By 2075: 10,601 · -8.9%
• By 2100: 10,338 · -11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 3% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.2%
• 2008→2024 swing: -33.3pp toward R · 2008: -9.7pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+40.3 2016: R+42.9 2012: R+22.2 2008: R+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.04%
• Current HPI: 209.5911
• 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

+85.6% since first listed

10 events — show timeline

• 2026-04-20 Price Changed $83,500 IAR
• 2026-02-16 Relisted — IAR
• 2026-01-17 Pending — IAR
• 2025-10-19 Price Changed $85,500 IAR
• 2025-09-14 Relisted — IAR
• 2025-08-30 Contingent — IAR
• 2025-07-25 Price Changed $89,900 IAR
• 2025-07-07 Price Changed $98,900 IAR
• 2025-07-07 Listed $90,900 IAR
• 2010-12-15 Sold (Public Records) $45,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,470 · +3.5% YoY. Source: county tax records.