606 Lyman St · South English, IA 52335

$24,900

2 bd · 1.0 ba · 1,458 sqft · SingleFamily public records · 100 Days on market

Built 1948 9,583 sqft lot $17/sqft · 77% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Excellent flip home and/or rental opportunity! Needs TLC. Being sold as-is. Situated on a double lot and located on a dead end street in South English. Features 2 BR, 1 BA, hardwood floors, living room, galley kitchen, spacious family room, and a full basement. Home has not been winterized and has not been heated. Cash or Conventional buyer(s) only.

Key facts

• Galley kitchen
• Double lot
• Dead end street

Tags

• DOUBLE LOT
• DEAD END STREET
• HARDWOOD FLOORS
• GALLEY KITCHEN
• SPACIOUS FAMILY ROOM
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#852 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, schools F.
• English Valleys Community School District (rural): math 63% / reading 71% proficiency, ranked #177 of 289 in IA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $919 of equity ($172 loan paydown + $747 appreciation (3.0% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
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: 4.27% ✓
• Cap rate: 37.97%
• Cash-on-cash: 113.13%
• DSCR: 6.03
• GRM: 1.9

CMA / ARV

• ARV (median comp): $73,320
• List price: $24,900
• Delta: -66.04%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.44×
• Total profit: $44,887
• Equity at exit: $11,196

10-year hold

• IRR: —
• Equity multiple: 15.51×
• Total profit: $101,157
• Equity at exit: $17,255

Cash invested: $6,972 (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 52335

• Active inventory: 3
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$42 /mo · $510/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $657

Break-even live

Break-even rent $232

Max offer price $24,900

Occupancy floor 33%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $24,900 Active 100 DOM
2. 2026-06-17
   days on market $24,900 Active 99 DOM
3. 2026-06-16
   days on market $24,900 Active 98 DOM
4. 2026-06-15
   days on market $24,900 Active 97 DOM
5. 2026-06-13
   days on market $24,900 Active 95 DOM
6. 2026-06-12
   pricedays on market $24,900 Active 94 DOM
7. 2026-06-09
   days on market $27,000 Active 91 DOM
8. 2026-06-08
   days on market $27,000 Active 90 DOM
9. 2026-06-07
   days on market $27,000 Active 89 DOM
10. 2026-06-07
    days on market $27,000 Active 88 DOM
11. 2026-06-04
    days on market $27,000 Active 85 DOM
12. 2026-06-02
    days on market $27,000 Active 84 DOM
13. 2026-06-01
    days on market $27,000 Active 83 DOM
14. 2026-05-31
    days on market $27,000 Active 82 DOM
15. 2026-05-31
    days on market $27,000 Active 81 DOM
16. 2026-04-14
    status Active 351-char remark

    Show marketing remark (351 chars)

    Excellent flip home and/or rental opportunity! Needs TLC. Being sold as-is. Situated on a double lot and located on a dead end street in South English. Features 2 BR, 1 BA, hardwood floors, living room, galley kitchen, spacious family room, and a full basement. Home has not been winterized and has not been heated. Cash or Conventional buyer(s) only.

17. 2026-03-17
    status Pending 351-char remark

    Show marketing remark (351 chars)

    Excellent flip home and/or rental opportunity! Needs TLC. Being sold as-is. Situated on a double lot and located on a dead end street in South English. Features 2 BR, 1 BA, hardwood floors, living room, galley kitchen, spacious family room, and a full basement. Home has not been winterized and has not been heated. Cash or Conventional buyer(s) only.

18. 2026-02-10
    listed $27,000 Active 351-char remark

    Show marketing remark (351 chars)

    Excellent flip home and/or rental opportunity! Needs TLC. Being sold as-is. Situated on a double lot and located on a dead end street in South English. Features 2 BR, 1 BA, hardwood floors, living room, galley kitchen, spacious family room, and a full basement. Home has not been winterized and has not been heated. Cash or Conventional buyer(s) only.

ⓘ 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: $510 · $42/mo
• Projected year-2 tax: $510 · $42/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,771
• − Mortgage interest: −$1,395
• − Property taxes: −$510
• − Insurance: −$124
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$724
• Taxable income: $7,974
• Est. tax owed @ 24.0%: −$1,914
• After-tax cash flow: $5,974/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: English Valleys Community School District
• NCES district ID: 1910980
• Math proficiency: 63% ▼ -3.00%
• Reading proficiency: 71% ▲ 4.00%
• Median HH income: $48,683
• Composite: 56.73/100
• National rank: #1126
• State rank: #177 of 289 in IA

Livability — South English

• Score: 59/100
• State rank: #852
• US rank: #19637

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment F Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South English, IA
• Population (ZIP): 608

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 5% Lithuanian 5% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

3 events — show timeline

• 2026-04-14 Relisted — IAR
• 2026-03-17 Pending — IAR
• 2026-02-10 Listed $27,000 IAR

Property tax history

-1.5%/yr

Latest (2025): $510 · -0.8% YoY. Source: county tax records.