2310 E Main St · Ottumwa, IA 52501

$75,000

3 bd · 2.0 ba · 1,967 sqft · MultiFamily public records · 65 Days on market

Built 1900 7,405 sqft lot $38/sqft · 17% above area Est $64k · 17% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Ring. .. . ring… Its not a spam call. That’s right—we’re calling all investors. This up/down duplex is your chance to step into a cash-flow opportunity with upside. Featuring two 2-bedroom, 1-bath units with tenants paying all utilities, this property keeps expenses low and returns strong. Current rents are below fair market value, leaving room for increased income and improved ROI. Located close to JBS, this is a prime rental area with consistent demand. Whether you’re looking to add to your portfolio or get started in multifamily investing, this one checks the boxes—location, layout, and potential. Answer the call—this investment won’t wait. ????

Key facts

• Up down duplex
• Consistent demand
• Prime rental area

Tags

• UP DOWN DUPLEX
• CASH FLOW OPPORTUNITY
• PRIME RENTAL AREA
• CONSISTENT DEMAND

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $610/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.8% 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.
• 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.96% ✓
• Cap rate: 25.80%
• Cash-on-cash: 69.68%
• DSCR: 4.10
• GRM: 2.8

CMA / ARV

• ARV (median comp): $63,901
• List price: $75,000
• Delta: 17.37%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 69.2%
• Equity multiple: 4.12×
• Total profit: $65,551
• Equity at exit: $11,183

10-year hold

• IRR: 73.3%
• Equity multiple: 8.49×
• Total profit: $157,254
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,217 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$108 /mo · $1,290/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,219

Break-even live

Break-even rent $673

Max offer price $75,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,262	-5% $1,241	+0% $1,219	+5% $1,198	+10% $1,177
Rent	-10% $1,044	-5% $1,132	+0% $1,219	+5% $1,307	+10% $1,395
Rate	-1.0pp $1,257	-0.5pp $1,238	base $1,219	+0.5pp $1,200	+1.0pp $1,180

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,218
Total (2 units)			$2,217

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $75,000 Active 65 DOM
2. 2026-06-21
   days on market $75,000 Active 64 DOM
3. 2026-06-18
   days on market $75,000 Active 62 DOM
4. 2026-06-17
   days on market $75,000 Active 61 DOM
5. 2026-06-16
   days on market $75,000 Active 60 DOM
6. 2026-06-15
   days on market $75,000 Active 59 DOM
7. 2026-06-13
   days on market $75,000 Active 57 DOM
8. 2026-06-12
   days on market $75,000 Active 56 DOM
9. 2026-06-09
   days on market $75,000 Active 53 DOM
10. 2026-06-08
    days on market $75,000 Active 52 DOM
11. 2026-06-07
    days on market $75,000 Active 51 DOM
12. 2026-06-07
    days on market $75,000 Active 50 DOM
13. 2026-06-04
    days on market $75,000 Active 47 DOM
14. 2026-06-02
    days on market $75,000 Active 46 DOM
15. 2026-06-01
    days on market $75,000 Active 45 DOM
16. 2026-05-31
    days on market $75,000 Active 44 DOM
17. 2026-05-31
    days on market $75,000 Active 43 DOM
18. 2026-04-17
    listed $85,000 Active 705-char remark

    Show marketing remark (705 chars)

    Ring. .. . ring… Its not a spam call. That’s right—we’re calling all investors. This up/down duplex is your chance to step into a cash-flow opportunity with upside. Featuring two 2-bedroom, 1-bath units with tenants paying all utilities, this property keeps expenses low and returns strong. Current rents are below fair market value, leaving room for increased income and improved ROI. Located close to JBS, this is a prime rental area with consistent demand. Whether you’re looking to add to your portfolio or get started in multifamily investing, this one checks the boxes—location, layout, and potential. Answer the call—this investment won’t wait. ????

19. 2024-05-09
    soldstatus $70,000
20. 2024-05-06
    soldstatus $70,000 Closed 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

21. 2024-05-03
    status Pending 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

22. 2024-03-07
    historical Active Under Contract 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

23. 2024-02-09
    status Active 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

24. 2023-11-22
    historical Active Under Contract 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

25. 2023-11-04
    listed $75,000 Active 192-char remark

    Show marketing remark (192 chars)

    2 units, 1 up, 1 down. Both units are 2 bedroom 1 bathroom. All utilities are split. Tenants pay all utilities. Some new electric and plumbing has been done. Call an agent for a showing today.

26. 2015-11-23
    soldstatus $45,000

ⓘ 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: $1,290 · $108/mo
• Projected year-2 tax: $1,290 · $108/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 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: $26,604
• − Mortgage interest: −$4,201
• − Property taxes: −$1,290
• − Insurance: −$375
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$2,182
• Taxable income: $14,299
• Est. tax owed @ 24.0%: −$3,432
• After-tax cash flow: $11,201/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

+88.9% since first listed

9 events — show timeline

• 2026-04-17 Listed $85,000 IAR
• 2024-05-09 Sold (Public Records) $70,000 Public Records
• 2024-05-06 Sold (MLS) $70,000 IAR
• 2024-05-03 Pending — IAR
• 2024-03-07 Contingent — IAR
• 2024-02-09 Relisted — IAR
• 2023-11-22 Contingent — IAR
• 2023-11-04 Listed $75,000 IAR
• 2015-11-23 Sold (Public Records) $45,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,290 · +303.1% YoY. Source: county tax records.