418 Carter Ave · Ottumwa, IA 52501

$119,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 242 Days on market

Built 1951 6,970 sqft lot $90/sqft · 37% below area Est $150k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.5/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

Key facts

• Walk-out basement
• Screened porch
• Eat-in kitchen

Tags

• HARDWOOD FLOORS
• EAT-IN KITCHEN
• BUILT-IN DRESSER DRAWERS
• BONUS SPACE
• WALK-OUT BASEMENT
• SCREENED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (33.3% below list).
• Recommended offer: $80k (33.3% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 5.7% in Ottumwa — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Market conditions: 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $829 of loan paydown is wiped out by about $4k 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 242 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $19k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $120k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000 (33.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 4.28%
• Cash-on-cash: -7.18%
• DSCR: 0.68
• GRM: 12.5

CMA / ARV

• ARV (median comp): $150,342
• List price: $119,900
• Delta: -20.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Grandview Ave	0.09mi	3/1.5	1,317 (-1%)	11mo	$138,000	$105	83
260 Grandview Ave	0.18mi	3/2.0	1,274 (-4%)	7mo	$142,500	$112	75
413 E Manning Ave	0.16mi	3/1.5	1,214 (-8%)	15mo	$172,000	$142	64
133 Vogel Ave	0.58mi	3/1.0	1,248 (-6%)	2mo	$180,000	$144	62
125 W Alta Vista Ave	0.62mi	4/2.0 (+1)	1,364 (+3%)	1mo	$245,000	$180	56
434 Crestview Ave	0.43mi	3/2.0	1,240 (-6%)	14mo	$165,000	$133	53
1805 N Ash St	0.60mi	2/1.0 (-1)	1,376 (+4%)	10mo	$180,000	$131	53
2543 Meadowdale St	0.59mi	3/2.0	1,228 (-7%)	4mo	$203,000	$165	52
404 Mccarroll Dr	0.72mi	3/2.5	1,315 (-1%)	15mo	$239,000	$182	47
1812 N Jefferson St	0.59mi	3/1.5	1,480 (+12%)	15mo	$160,000	$108	38
2639 Kenwood St	0.73mi	2/2.0 (-1)	1,208 (-9%)	10mo	$169,000	$140	33
2744 N Court St	0.52mi	2/2.0 (-1)	1,144 (-14%)	14mo	$149,000	$130	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: -28.8%
• Equity multiple: 0.04×
• Total profit: $-32,209
• Equity at exit: $17,877

10-year hold

• IRR: -28.5%
• Equity multiple: -0.32×
• Total profit: $-44,463
• Equity at exit: $10,367

Cash invested: $33,572 (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: 12.5×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $-201

Break-even live

Break-even rent $1,054

Max offer price $84,411

Occupancy floor —

Sensitivity live

Price	-10% $-133	-5% $-167	+0% $-201	+5% $-235	+10% $-269
Rent	-10% $-264	-5% $-232	+0% $-201	+5% $-169	+10% $-138
Rate	-1.0pp $-141	-0.5pp $-170	base $-201	+0.5pp $-232	+1.0pp $-264

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 W Rochester Rd Ottumwa, IA	2.0	1.0	881	$800	$0.91	44d	3	1.23mi

Listing history 12 events

1. 2026-06-02
   days on market $119,900 Active 242 DOM
2. 2026-06-01
   days on market $119,900 Active 241 DOM
3. 2026-05-31
   days on market $119,900 Active 240 DOM
4. 2026-05-31
   days on market $119,900 Active 239 DOM
5. 2026-03-26
   price $119,900 860-char remark

   Show marketing remark (860 chars)

   This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

6. 2025-12-17
   price $129,000 860-char remark

   Show marketing remark (860 chars)

   This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

7. 2025-11-18
   price $129,500 860-char remark

   Show marketing remark (860 chars)

   This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

8. 2025-11-04
   price $129,900 860-char remark

   Show marketing remark (860 chars)

   This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

9. 2025-10-02
   listed $139,000 Active 860-char remark

   Show marketing remark (860 chars)

   This charming three-bedroom home on Ottumwa’s north side is available for the first time in years and is full of inviting features. The main level offers a spacious living room with gorgeous hardwood floors, a bright eat-in kitchen, two comfortable bedrooms, and a full bath. Upstairs, you’ll find a versatile third bedroom with built-in dresser drawers, along with a bonus space perfect for a home office, playroom, or hobby area. The full walk-out basement provides easy access to a lower-level patio and plenty of potential for storage or future finishing. A highlight of the property is the expansive screened porch that stretches across the entire front of the home, ideal for relaxing or entertaining. Within easy walking distance to IHCC and attractively priced for a quick sale, this is a wonderful opportunity you won’t want to miss.

10. 2019-05-24
    soldstatus $54,000
11. 2019-05-23
    soldstatus $54,000 313-char remark

    Show marketing remark (313 chars)

    Just a hop skip and a jump from IHCC! This would be a great first home or rental. Beautiful hardwood floors in the living room and one of the bedrooms. Finished upstairs with built in drawers and closets. Newer replacement windows. Fun screen porch across the front of the house. Walk out basement leads to patio.

12. 2019-04-01
    listed $62,000 313-char remark

    Show marketing remark (313 chars)

    Just a hop skip and a jump from IHCC! This would be a great first home or rental. Beautiful hardwood floors in the living room and one of the bedrooms. Finished upstairs with built in drawers and closets. Newer replacement windows. Fun screen porch across the front of the house. Walk out basement leads to patio.

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,866 · $156/mo
• Expected delta: +$16/yr (+$1/mo · 0.9%)

ⓘ 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 4/10 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: $9,600
• − Mortgage interest: −$6,716
• − Property taxes: −$1,850
• − Insurance: −$600
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$3,488
• Taxable loss: −$4,590
• Est. tax savings @ 24.0%: +$1,102
• After-tax cash flow: $-1,309/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

+93.4% since first listed

8 events — show timeline

• 2026-03-26 Price Changed $119,900 IAR
• 2025-12-17 Price Changed $129,000 IAR
• 2025-11-18 Price Changed $129,500 IAR
• 2025-11-04 Price Changed $129,900 IAR
• 2025-10-02 Listed $139,000 IAR
• 2019-05-24 Sold (Public Records) $54,000 Public Records
• 2019-05-23 Sold (MLS) $54,000 IAR
• 2019-04-01 Listed $62,000 IAR

Property tax history

+0.7%/yr

Latest (2025): $1,850 · +5.2% YoY. Source: county tax records.