306 N Brush St

Lawler, IA 52154

$119,900B-

4 bd · 2.0 ba · 2,144 sqft · Built 1953 · SingleFamily · Pending · 221 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,249/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $142/mo
• Annual: $1,709/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.09%
• DSCR: 1.23
• 1% rule: 1.04%
• Cash to close: $33,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 221 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($829 loan paydown + $504 appreciation (0.4% local appreciation)).
• Location reads 63/100 on livability (#654 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Turkey Valley Community School District (rural): math 71% / reading 78% proficiency, ranked #82 of 289 in IA (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 6 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).
• Chickasaw County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 221 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.