707 N Frederick Ave · Oelwein, IA 50662

$49,500

1 bd · 2.0 ba · 728 sqft · SingleFamily public records · 298 Days on market

Built 1910 7,100 sqft lot $68/sqft · 30% below area Est $70k · 30% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a solid property perfect for a first time homebuyer or downsizing. All of the rooms are a good size. There enough room in the kitchen for a nice size table. Features main floor laundry and a breezeway that leads to the garage or outside. The garage is large enough for two cars, but only has a single door. Gravel driveway runs along the side of the house from the alley to the street.

Key facts

• Breezeway
• Main floor laundry
• Gravel driveway

Tags

• MAIN FLOOR LAUNDRY
• BREEZEWAY
• GRAVEL DRIVEWAY

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($878 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 4.5% in Oelwein — 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 76/100 on livability (#186 in IA, #3,329 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Oelwein Community School District (town): math 47% / reading 55% proficiency, ranked #281 of 289 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $10k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $50k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $43,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 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 1910 — 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: 1.77% ✓
• Cap rate: 14.82%
• Cash-on-cash: 30.44%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (median comp): $70,445
• List price: $49,500
• Delta: -29.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 5th St St NW	0.32mi	2/1.0 (+1)	735 (+1%)	11mo	$90,000	$122	66
29 2nd St. St NW	0.40mi	2/2.0 (+1)	776 (+7%)	18mo	$61,100	$79	50
311 NE 2nd St	0.46mi	2/1.0 (+1)	776 (+7%)	13mo	$42,240	$54	48
221 Lincoln Dr Dr NE	0.22mi	2/1.0 (+1)	832 (+14%)	17mo	$112,000	$135	43
40 5th St NW - St	0.24mi	2/1.0 (+1)	812 (+12%)	22mo	$89,500	$110	42
205 5th St NW	0.29mi	2/1.0 (+1)	800 (+10%)	23mo	$74,000	$93	42
15 5th Ave Ave NE	0.65mi	2/1.0 (+1)	824 (+13%)	24mo	$54,000	$66	18

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: 25.1%
• Equity multiple: 2.04×
• Total profit: $14,387
• Equity at exit: $7,381

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $41,420
• Equity at exit: $4,280

Cash invested: $13,860 (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 50662

• Home prices YoY: -21.7%
• Active inventory: 60
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $878 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $352

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 55%

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $49,500 Active 298 DOM
2. 2026-06-17
   days on market $49,500 Active 297 DOM
3. 2026-06-16
   days on market $49,500 Active 296 DOM
4. 2026-06-15
   days on market $49,500 Active 295 DOM
5. 2026-06-13
   days on market $49,500 Active 293 DOM
6. 2026-06-12
   days on market $49,500 Active 292 DOM
7. 2026-06-09
   days on market $49,500 Active 289 DOM
8. 2026-06-08
   days on market $49,500 Active 288 DOM
9. 2026-06-07
   days on market $49,500 Active 287 DOM
10. 2026-06-07
    days on market $49,500 Active 286 DOM
11. 2026-06-04
    days on market $49,500 Active 283 DOM
12. 2026-06-02
    statusdays on market $49,500 Active 282 DOM
13. 2026-03-30
    price $49,500 393-char remark

    Show marketing remark (393 chars)

    Here is a solid property perfect for a first time homebuyer or downsizing. All of the rooms are a good size. There enough room in the kitchen for a nice size table. Features main floor laundry and a breezeway that leads to the garage or outside. The garage is large enough for two cars, but only has a single door. Gravel driveway runs along the side of the house from the alley to the street.

14. 2025-09-19
    price $57,000 393-char remark

    Show marketing remark (393 chars)

    Here is a solid property perfect for a first time homebuyer or downsizing. All of the rooms are a good size. There enough room in the kitchen for a nice size table. Features main floor laundry and a breezeway that leads to the garage or outside. The garage is large enough for two cars, but only has a single door. Gravel driveway runs along the side of the house from the alley to the street.

15. 2025-08-18
    listed $60,000 Active 393-char remark

    Show marketing remark (393 chars)

    Here is a solid property perfect for a first time homebuyer or downsizing. All of the rooms are a good size. There enough room in the kitchen for a nice size table. Features main floor laundry and a breezeway that leads to the garage or outside. The garage is large enough for two cars, but only has a single door. Gravel driveway runs along the side of the house from the alley to the street.

16. 2024-12-25
    historical $500
17. 2024-12-11
    price $500
18. 2024-11-13
    listed $525
19. 2024-04-10
    historical $475
20. 2024-04-03
    price $475
21. 2024-03-23
    price $500
22. 2024-02-29
    price $545
23. 2023-12-01
    price $600
24. 2023-11-17
    price $650
25. 2023-10-20
    price $675
26. 2023-09-29
    price $725
27. 2023-09-03
    listed $795
28. 2016-04-29
    soldstatus $15,000 452-char remark

    Show marketing remark (452 chars)

    This is Good Starter or Retirement Home. The house does need a roof in the near future, but no leaks. This Bungalow is more spacious than you think, large primary rooms, nice sized bedroom, 3/4 bath with main floor laundry, Lots of storage, 1/4 basement, breezeway room connects the house to the garage, drive thru driveway from the street to the alley. 728 sq ft Bungalow + 357sq' Breezway, 22' x 25' att. 2 car gar w/ lots of storage, 50' x 140' lot.

29. 2016-02-13
    listed $22,000 452-char remark

    Show marketing remark (452 chars)

    This is Good Starter or Retirement Home. The house does need a roof in the near future, but no leaks. This Bungalow is more spacious than you think, large primary rooms, nice sized bedroom, 3/4 bath with main floor laundry, Lots of storage, 1/4 basement, breezeway room connects the house to the garage, drive thru driveway from the street to the alley. 728 sq ft Bungalow + 357sq' Breezway, 22' x 25' att. 2 car gar w/ lots of storage, 50' x 140' lot.

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $761 · $63/mo
• Expected delta: +$17/yr (+$1/mo · 2.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $10,539
• − Mortgage interest: −$2,773
• − Property taxes: −$744
• − Insurance: −$248
• − Repairs & maintenance: −$843
• − Management: −$843
• − Depreciation: −$1,440
• Taxable income: $3,649
• Est. tax owed @ 24.0%: −$876
• After-tax cash flow: $3,344/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: Oelwein Community School District
• NCES district ID: 1921630
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $39,812
• Composite: 42.61/100
• National rank: #3189
• State rank: #281 of 289 in IA

Livability — Oelwein

• Score: 76/100
• State rank: #186
• US rank: #3329

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: Oelwein, IA
• Population (ZIP): 6,497

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.26%
• Current HPI: 177.9399
• 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

+125.0% since first listed

17 events — show timeline

• 2026-03-30 Price Changed $49,500 NEIRBR as distributed by MLS GRID
• 2025-09-19 Price Changed $57,000 NEIRBR as distributed by MLS GRID
• 2025-08-18 Listed $60,000 NEIRBR as distributed by MLS GRID
• 2024-12-25 Rental Removed $500 BUILDIUM
• 2024-12-11 Price Changed $500 BUILDIUM
• 2024-11-13 Listed for Rent $525 BUILDIUM
• 2024-04-10 Rental Removed $475 BUILDIUM
• 2024-04-03 Price Changed $475 BUILDIUM
• 2024-03-23 Price Changed $500 BUILDIUM
• 2024-02-29 Price Changed $545 BUILDIUM
• 2023-12-01 Price Changed $600 BUILDIUM
• 2023-11-17 Price Changed $650 BUILDIUM
• 2023-10-20 Price Changed $675 BUILDIUM
• 2023-09-29 Price Changed $725 BUILDIUM
• 2023-09-03 Listed for Rent $795 BUILDIUM
• 2016-04-29 Sold (MLS) $15,000 NEIRBR as distributed by MLS GRID
• 2016-02-13 Listed $22,000 NEIRBR as distributed by MLS GRID

Property tax history

+1.4%/yr

Latest (2025): $744 · +2.2% YoY. Source: county tax records.