3704 Whispering Ln · Mooar, IA 52632

$74,500

3 bd · 1.5 ba · 2,140 sqft · SingleFamily public records · 76 Days on market

Built 1979 0.56 ac lot $35/sqft · 74% below area ↓ 26% since listing

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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 +24.8/30.0
• 1% rule +9.2/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCTION: Location is the selling point of this property. A total renovation needed but great investment as the location is in upper end homes area and on outskirts of town so country feel. House has good square footage with nice yard. 3 bedrooms, 2 and 1/2 baths, family room, nice sized dining room and living room. Kitchen is big and could easily have a huge island when renovating. There are lots of cabinets and counters so plenty of space to pick your own style. House is large, has good sized rooms, good square footage but needs a lot of TLC. Good property to invest money and time to create your dream home. New sump pump being installed. From this location you can head out bypass to Ft. Madison or Burlington for shopping or dining out or head into Keokuk for the same.

Key facts

• Plenty of space
• Lots of cabinets
• Excellent location

Tags

• EXCELLENT LOCATION
• LOTS OF CABINETS
• PLENTY OF SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Keokuk Community School District (town): math 48% / reading 54% proficiency, ranked #282 of 289 in IA (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 15 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $515 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $84.43M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price.

Recommended offer $70,030 (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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.42% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 5.9

CMA / ARV

• ARV (median comp): $289,447
• List price: $74,500
• Delta: -74.26%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-1,891
• Equity at exit: $11,108

10-year hold

• IRR: 7.4%
• Equity multiple: 1.57×
• Total profit: $11,789
• Equity at exit: $6,441

Cash invested: $20,860 (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 52632

• Home prices YoY: -25.5%
• Active inventory: 71
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$391
• Tax from tax record: −$258 /mo · $3,096/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $158

Break-even live

Break-even rent $860

Max offer price $74,500

Occupancy floor 80%

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $74,500 Active 76 DOM
2. 2026-06-17
   days on market $74,500 Active 75 DOM
3. 2026-06-16
   days on market $74,500 Active 74 DOM
4. 2026-06-15
   days on market $74,500 Active 73 DOM
5. 2026-06-13
   days on market $74,500 Active 71 DOM
6. 2026-06-12
   days on market $74,500 Active 70 DOM
7. 2026-06-09
   days on market $74,500 Active 67 DOM
8. 2026-06-08
   days on market $74,500 Active 66 DOM
9. 2026-06-07
   days on market $74,500 Active 65 DOM
10. 2026-06-07
    days on market $74,500 Active 64 DOM
11. 2026-06-04
    days on market $74,500 Active 61 DOM
12. 2026-06-02
    days on market $74,500 Active 60 DOM
13. 2026-06-01
    days on market $74,500 Active 59 DOM
14. 2026-05-31
    days on market $74,500 Active 58 DOM
15. 2026-05-31
    days on market $74,500 Active 57 DOM
16. 2026-05-02
    price $74,500 787-char remark

    Show marketing remark (787 chars)

    PRICE REDUCTION: Location is the selling point of this property. A total renovation needed but great investment as the location is in upper end homes area and on outskirts of town so country feel. House has good square footage with nice yard. 3 bedrooms, 2 and 1/2 baths, family room, nice sized dining room and living room. Kitchen is big and could easily have a huge island when renovating. There are lots of cabinets and counters so plenty of space to pick your own style. House is large, has good sized rooms, good square footage but needs a lot of TLC. Good property to invest money and time to create your dream home. New sump pump being installed. From this location you can head out bypass to Ft. Madison or Burlington for shopping or dining out or head into Keokuk for the same.

17. 2026-04-03
    price $84,500 787-char remark

    Show marketing remark (787 chars)

    PRICE REDUCTION: Location is the selling point of this property. A total renovation needed but great investment as the location is in upper end homes area and on outskirts of town so country feel. House has good square footage with nice yard. 3 bedrooms, 2 and 1/2 baths, family room, nice sized dining room and living room. Kitchen is big and could easily have a huge island when renovating. There are lots of cabinets and counters so plenty of space to pick your own style. House is large, has good sized rooms, good square footage but needs a lot of TLC. Good property to invest money and time to create your dream home. New sump pump being installed. From this location you can head out bypass to Ft. Madison or Burlington for shopping or dining out or head into Keokuk for the same.

18. 2026-04-03
    listed $84,500,000 Active 787-char remark

    Show marketing remark (787 chars)

    PRICE REDUCTION: Location is the selling point of this property. A total renovation needed but great investment as the location is in upper end homes area and on outskirts of town so country feel. House has good square footage with nice yard. 3 bedrooms, 2 and 1/2 baths, family room, nice sized dining room and living room. Kitchen is big and could easily have a huge island when renovating. There are lots of cabinets and counters so plenty of space to pick your own style. House is large, has good sized rooms, good square footage but needs a lot of TLC. Good property to invest money and time to create your dream home. New sump pump being installed. From this location you can head out bypass to Ft. Madison or Burlington for shopping or dining out or head into Keokuk for the same.

19. 2026-02-01
    price $94,500
20. 2026-01-05
    listed $100,000 Active

ⓘ 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: $3,096 · $258/mo
• Projected year-2 tax: $3,096 · $258/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 16 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: $12,725
• − Mortgage interest: −$4,173
• − Property taxes: −$3,096
• − Insurance: −$372
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$2,167
• Taxable income: $880
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $1,685/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: Keokuk Community School District
• NCES district ID: 1915630
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,973
• Composite: 42.35/100
• National rank: #3249
• State rank: #282 of 289 in IA

Livability — Mooar

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 11,904
• Population (ZIP): 11,904

Population outlook (Lee County) Hauer SSP2

• Today (2025): 33,813 people
• By 2030: 32,835 · -2.9%
• By 2040: 30,690 · -9.2%
• By 2050: 28,777 · -14.9%
• By 2075: 25,568 · -24.4%
• By 2100: 21,983 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.0% · R 62.9% · Other 2.1%
• 2008→2024 swing: -43.8pp toward R · 2008: 16.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+19.3 2016: R+16.1 2012: D+16.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.80%
• Current HPI: 122.2866
• 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

-25.5% since first listed

5 events — show timeline

• 2026-05-02 Price Changed $74,500 IAR
• 2026-04-03 Price Changed $84,500 IAR
• 2026-04-03 Listed $84,500,000 IAR
• 2026-02-01 Price Changed $94,500 IAR
• 2026-01-05 Listed $100,000 IAR

Property tax history

+2.1%/yr

Latest (2025): $3,096 · +3.2% YoY. Source: county tax records.