14 Climbing Hill Path

Climbing Hill, IA 51015

$75,000C+

1 bd · 1.0 ba · 480 sqft · Built 1910 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $770/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $152/mo
• Annual: $1,818/yr
• Cap rate: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• 1% rule: 1.03%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($770 rent vs $75k).
• It's been on market 18 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#839 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety D, amenities F, commute F.
• Woodbury Central Community School District (rural): math 66% / reading 79% proficiency, ranked #88 of 289 in IA (top 30%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodbury Central Middle School (math 72% / reading 77%, grade A, #76 of 246 statewide, top 33%, 120 students, 28% FRL); Woodbury Central High School (math 62% / reading 82%, grade B+, #117 of 336 statewide, top 39%, 178 students, 26% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.