309 S Madison Ave · Ottumwa, IA 52501

$55,000

1 bd · 1.0 ba · 676 sqft · SingleFamily public records · 124 Days on market

Built 1900 3,049 sqft lot $81/sqft · at area comps Est $53k · at est.

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Why this score? — see what drove the B- 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
• ARV discount +5.7/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small in size, big on updates and charm. This recently remodeled 1-bedroom, 1-bath home offers efficient living with a surprisingly open feel and thoughtful improvements throughout. The kitchen features fresh white cabinetry, butcher block countertops, updated flooring, and plenty of workspace for its size. The large bathroom stands out with generous space, updated fixtures, and a full tub/shower. You’ll appreciate the new roof, neutral finishes, and low-maintenance design that make this home easy to own and easy to love. Enjoy mornings or evenings on the covered front and back porches, and take advantage of off-street parking with alley access. Washer and dryer hookups are already in place for added convenience. Located close to John Deere, this home is a great option for downsizers, first-time buyers, or anyone looking for a clean, move-in-ready property without the upkeep of a larger home.

Key facts

• Recently remodeled
• Full tub/shower
• Updated flooring

Tags

• RECENTLY REMODELED
• FRESH WHITE CABINETRY
• BUTCHER BLOCK COUNTERTOPS
• UPDATED FLOORING
• UPDATED FIXTURES
• FULL TUB/SHOWER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $55k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
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: 1.77% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.87%
• DSCR: 2.42
• GRM: 4.7

CMA / ARV

• ARV (median comp): $52,903
• List price: $55,000
• Delta: 3.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 Clinton Ave	0.19mi	2/1.0 (+1)	746 (+10%)	4mo	$45,000	$60	65
818 Dewey St	0.28mi	2/1.0 (+1)	624 (-8%)	6mo	$40,000	$64	64
113 N Davis St	0.56mi	2/1.0 (+1)	672 (-1%)	10mo	$41,500	$62	60
1130 Hammond Ave	0.46mi	2/1.0 (+1)	652 (-4%)	12mo	$45,000	$69	58
537 S Moore St	0.65mi	2/1.0 (+1)	677 (+0%)	9mo	$40,000	$59	57
122 N James St	0.28mi	2/1.0 (+1)	742 (+10%)	13mo	$70,000	$94	55
309 N Moore St	0.67mi	2/1.0 (+1)	665 (-2%)	16mo	$60,000	$90	47
508 S Moore St	0.59mi	1/1.0	728 (+8%)	20mo	$50,000	$69	43

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: 26.8%
• Equity multiple: 2.11×
• Total profit: $17,137
• Equity at exit: $8,201

10-year hold

• IRR: 34.4%
• Equity multiple: 4.15×
• Total profit: $48,469
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.7×

Monthly cashflow live

• Estimated rent: $971 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$47 /mo · $560/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $409

Break-even live

Break-even rent $453

Max offer price $55,000

Occupancy floor 53%

Sensitivity live

Price	-10% $440	-5% $425	+0% $409	+5% $393	+10% $378
Rent	-10% $332	-5% $371	+0% $409	+5% $447	+10% $486
Rate	-1.0pp $437	-0.5pp $423	base $409	+0.5pp $395	+1.0pp $380

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $55,000 Active 124 DOM
2. 2026-06-18
   days on market $55,000 Active 122 DOM
3. 2026-06-17
   days on market $55,000 Active 121 DOM
4. 2026-06-16
   days on market $55,000 Active 120 DOM
5. 2026-06-15
   days on market $55,000 Active 119 DOM
6. 2026-06-13
   days on market $55,000 Active 117 DOM
7. 2026-06-12
   days on market $55,000 Active 116 DOM
8. 2026-06-09
   days on market $55,000 Active 113 DOM
9. 2026-06-08
   days on market $55,000 Active 112 DOM
10. 2026-06-07
    days on market $55,000 Active 111 DOM
11. 2026-06-07
    days on market $55,000 Active 110 DOM
12. 2026-06-04
    days on market $55,000 Active 107 DOM
13. 2026-06-02
    days on market $55,000 Active 106 DOM
14. 2026-06-01
    days on market $55,000 Active 105 DOM
15. 2026-05-31
    days on market $55,000 Active 104 DOM
16. 2026-05-31
    days on market $55,000 Active 103 DOM
17. 2026-04-13
    price $59,900 911-char remark

    Show marketing remark (911 chars)

    Small in size, big on updates and charm. This recently remodeled 1-bedroom, 1-bath home offers efficient living with a surprisingly open feel and thoughtful improvements throughout. The kitchen features fresh white cabinetry, butcher block countertops, updated flooring, and plenty of workspace for its size. The large bathroom stands out with generous space, updated fixtures, and a full tub/shower. You’ll appreciate the new roof, neutral finishes, and low-maintenance design that make this home easy to own and easy to love. Enjoy mornings or evenings on the covered front and back porches, and take advantage of off-street parking with alley access. Washer and dryer hookups are already in place for added convenience. Located close to John Deere, this home is a great option for downsizers, first-time buyers, or anyone looking for a clean, move-in-ready property without the upkeep of a larger home.

18. 2026-03-24
    price $64,900 911-char remark

    Show marketing remark (911 chars)

    Small in size, big on updates and charm. This recently remodeled 1-bedroom, 1-bath home offers efficient living with a surprisingly open feel and thoughtful improvements throughout. The kitchen features fresh white cabinetry, butcher block countertops, updated flooring, and plenty of workspace for its size. The large bathroom stands out with generous space, updated fixtures, and a full tub/shower. You’ll appreciate the new roof, neutral finishes, and low-maintenance design that make this home easy to own and easy to love. Enjoy mornings or evenings on the covered front and back porches, and take advantage of off-street parking with alley access. Washer and dryer hookups are already in place for added convenience. Located close to John Deere, this home is a great option for downsizers, first-time buyers, or anyone looking for a clean, move-in-ready property without the upkeep of a larger home.

19. 2026-02-17
    listed $69,900 Active 911-char remark

    Show marketing remark (911 chars)

    Small in size, big on updates and charm. This recently remodeled 1-bedroom, 1-bath home offers efficient living with a surprisingly open feel and thoughtful improvements throughout. The kitchen features fresh white cabinetry, butcher block countertops, updated flooring, and plenty of workspace for its size. The large bathroom stands out with generous space, updated fixtures, and a full tub/shower. You’ll appreciate the new roof, neutral finishes, and low-maintenance design that make this home easy to own and easy to love. Enjoy mornings or evenings on the covered front and back porches, and take advantage of off-street parking with alley access. Washer and dryer hookups are already in place for added convenience. Located close to John Deere, this home is a great option for downsizers, first-time buyers, or anyone looking for a clean, move-in-ready property without the upkeep of a larger home.

20. 2023-10-12
    soldstatus $35,500
21. 2023-10-09
    soldstatus $35,500 Closed 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

22. 2023-08-24
    status Pending 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

23. 2023-08-08
    historical 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

24. 2023-08-05
    status Pending 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

25. 2023-08-01
    status Active 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

26. 2023-08-01
    price $35,500 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

27. 2023-07-20
    status Pending 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

28. 2023-07-15
    price $38,000 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

29. 2023-06-27
    listed $49,900 Active 550-char remark

    Show marketing remark (550 chars)

    Whether you are looking to make this your primary residence or an investment property, 309 S Madison Ave offers excellent potential. The growing community of Ottumwa ensures a high demand for housing, making this home an attractive choice for buyers and renters alike. Don't delay! This charming property presents a wonderful opportunity to embrace a comfortable lifestyle in a sought-after location. Don't miss the chance to make 309 S Madison Ave your new home! Schedule a viewing and experience the warmth and character this property has to offer.

30. 2019-08-09
    soldstatus $27,500

ⓘ 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: $560 · $47/mo
• Projected year-2 tax: $712 · $59/mo
• Expected delta: +$152/yr (+$13/mo · 27.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $11,651
• − Mortgage interest: −$3,081
• − Property taxes: −$560
• − Insurance: −$275
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$1,600
• Taxable income: $4,271
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $3,883/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

+117.8% since first listed

14 events — show timeline

• 2026-04-13 Price Changed $59,900 IAR
• 2026-03-24 Price Changed $64,900 IAR
• 2026-02-17 Listed $69,900 IAR
• 2023-10-12 Sold (Public Records) $35,500 Public Records
• 2023-10-09 Sold (MLS) $35,500 IAR
• 2023-08-24 Pending — IAR
• 2023-08-08 Delisted — IAR
• 2023-08-05 Pending — IAR
• 2023-08-01 Relisted — IAR
• 2023-08-01 Price Changed $35,500 IAR
• 2023-07-20 Pending — IAR
• 2023-07-15 Price Changed $38,000 IAR
• 2023-06-27 Listed $49,900 IAR
• 2019-08-09 Sold (Public Records) $27,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $560 · +5.3% YoY. Source: county tax records.