1223 N Fellows St · Ottumwa, IA 52501

$109,500

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 76 Days on market

Built 1947 6,864 sqft lot $152/sqft · 19% above area Est $92k · 19% over

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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).

• Cash flow +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready! 2 bedrooms and 1 bath and a full basement. New paint inside and all new flooring. Close to the hospital and shopping. This is a must see! Kitchen appliances and washer and dryer.

Key facts

• Kitchen appliances
• Washer and dryer
• Full basement

Tags

• FULL BASEMENT
• KITCHEN APPLIANCES
• WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $121 ($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 $104k (5.2% below list).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.6% 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.
• Zoned schools: Evans Middle School (math 45% / reading 53%, grade C-, #219 of 246 statewide, top 90%, 1,047 students, 46% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 192 active listings in the ZIP; 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 $757 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $110k implies a 635% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1947 — 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. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $92,035
• List price: $109,500
• Delta: 18.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 N Jefferson St	0.50mi	2/1.0	728 (+1%)	10mo	$119,900	$165	67
1306 Center Street Pl	0.67mi	2/1.0	816 (+13%)	23mo	$180,000	$221	27

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-10,038
• Equity at exit: $16,327

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,125
• Equity at exit: $9,468

Cash invested: $30,660 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,038 medium
• Mortgage (P&I): −$574
• Tax from tax record: −$79 /mo · $944/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $121

Break-even live

Break-even rent $884

Max offer price $109,500

Occupancy floor 83%

Sensitivity live

Price	-10% $183	-5% $152	+0% $121	+5% $90	+10% $59
Rent	-10% $39	-5% $80	+0% $121	+5% $162	+10% $203
Rate	-1.0pp $176	-0.5pp $149	base $121	+0.5pp $93	+1.0pp $64

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: $27,375
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   status $109,500 Pending 76 DOM
2. 2026-06-07
   days on market $109,500 Active 76 DOM
3. 2026-06-07
   days on market $109,500 Active 75 DOM
4. 2026-06-04
   days on market $109,500 Active 72 DOM
5. 2026-06-02
   days on market $109,500 Active 71 DOM
6. 2026-06-01
   days on market $109,500 Active 70 DOM
7. 2026-05-31
   days on market $109,500 Active 69 DOM
8. 2026-05-31
   days on market $109,500 Active 68 DOM
9. 2026-04-21
   price $109,500 195-char remark

   Show marketing remark (195 chars)

   Move in ready! 2 bedrooms and 1 bath and a full basement. New paint inside and all new flooring. Close to the hospital and shopping. This is a must see! Kitchen appliances and washer and dryer.

10. 2026-03-23
    listed $119,500 Active 195-char remark

    Show marketing remark (195 chars)

    Move in ready! 2 bedrooms and 1 bath and a full basement. New paint inside and all new flooring. Close to the hospital and shopping. This is a must see! Kitchen appliances and washer and dryer.

11. 2014-11-21
    soldstatus $14,900 79-char remark

    Show marketing remark (79 chars)

    2 Bedroom House Close To Hospital With Off Street Parking. Basement Needs Work.

12. 2013-12-23
    listed $19,000 79-char remark

    Show marketing remark (79 chars)

    2 Bedroom House Close To Hospital With Off Street Parking. Basement Needs Work.

13. 2006-02-24
    soldstatus $40,000

ⓘ 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: $944 · $79/mo
• Projected year-2 tax: $1,332 · $111/mo
• Expected delta: +$388/yr (+$32/mo · 41.1%)

ⓘ 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: $12,453
• − Mortgage interest: −$6,134
• − Property taxes: −$944
• − Insurance: −$548
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$3,185
• Taxable loss: −$350
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $1,540/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

+173.8% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $109,500 IAR
• 2026-03-23 Listed $119,500 IAR
• 2014-11-21 Sold (MLS) $14,900 IAR
• 2013-12-23 Listed $19,000 IAR
• 2006-02-24 Sold (Public Records) $40,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $944 · +5.4% YoY. Source: county tax records.