420 N Court St · Ottumwa, IA 52501

$69,500

4 bd · 2.0 ba · 3,093 sqft · SingleFamily public records · 114 Days on market

Built 1910 6,534 sqft lot $22/sqft · 50% below area ↓ 21% since listing

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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 +7.5/15.0
• 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

Built in 1910, this beautiful Victorian styled home is 3,000 sq. ft. that is split into two floors plus what was a maid's room, with a second staircase, on the third floor. The home needs some work; but it is very livable in its current condition. The home is being sold "As Is" and includes all of the furniture, appliances, and a 1st floor laundry room. If you are looking for a large, very interesting home, that is being offered at a very reasonable price, arrange to see this home before it slips back into history with a new owner.

Key facts

• Second staircase
• 6,534 sq ft lot
• Built 1910

Tags

• VICTORIAN STYLED HOME
• SECOND STAIRCASE
• 1ST FLOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 5.9% 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: 186 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 $481 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,245 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. 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: 2.30% ✓
• Cap rate: 18.04%
• Cash-on-cash: 41.96%
• DSCR: 2.87
• GRM: 3.6

CMA / ARV

• ARV (median comp): $140,103
• List price: $69,500
• Delta: -50.39%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 N Court	0.11mi	4/2.5	3,326 (+8%)	12mo	$30,000	$9	70
1112 Jay St	0.67mi	4/2.0	2,992 (-3%)	3mo	$237,500	$79	60

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: 38.7%
• Equity multiple: 2.65×
• Total profit: $32,159
• Equity at exit: $10,363

10-year hold

• IRR: 45.2%
• Equity multiple: 5.32×
• Total profit: $84,152
• Equity at exit: $6,009

Cash invested: $19,460 (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: 186
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,596 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $680

Break-even live

Break-even rent $735

Max offer price $69,500

Occupancy floor 52%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $69,500 Active 114 DOM
2. 2026-06-17
   days on market $69,500 Active 113 DOM
3. 2026-06-16
   days on market $69,500 Active 112 DOM
4. 2026-06-15
   days on market $69,500 Active 111 DOM
5. 2026-06-13
   days on market $69,500 Active 109 DOM
6. 2026-06-12
   days on market $69,500 Active 108 DOM
7. 2026-06-09
   days on market $69,500 Active 105 DOM
8. 2026-06-08
   days on market $69,500 Active 104 DOM
9. 2026-06-07
   days on market $69,500 Active 103 DOM
10. 2026-06-07
    days on market $69,500 Active 102 DOM
11. 2026-06-04
    pricedays on market $69,500 Active 99 DOM
12. 2026-06-02
    days on market $88,000 Active 98 DOM
13. 2026-06-01
    days on market $88,000 Active 97 DOM
14. 2026-05-31
    days on market $88,000 Active 96 DOM
15. 2026-05-31
    days on market $88,000 Active 95 DOM
16. 2026-05-11
    price $88,000 547-char remark

    Show marketing remark (547 chars)

    Built in 1910, this beautiful Victorian styled home is 3,000 sq. ft. that is split into two floors plus what was a maid's room, with a second staircase, on the third floor. The home needs some work; but it is very livable in its current condition. The home is being sold "As Is" and includes all of the furniture, appliances, and a 1st floor laundry room. If you are looking for a large, very interesting home, that is being offered at a very reasonable price, arrange to see this home before it slips back into history with a new owner.

17. 2026-04-22
    price $99,400 547-char remark

    Show marketing remark (547 chars)

    Built in 1910, this beautiful Victorian styled home is 3,000 sq. ft. that is split into two floors plus what was a maid's room, with a second staircase, on the third floor. The home needs some work; but it is very livable in its current condition. The home is being sold "As Is" and includes all of the furniture, appliances, and a 1st floor laundry room. If you are looking for a large, very interesting home, that is being offered at a very reasonable price, arrange to see this home before it slips back into history with a new owner.

18. 2026-02-22
    listed $112,000 Active 547-char remark

    Show marketing remark (547 chars)

    Built in 1910, this beautiful Victorian styled home is 3,000 sq. ft. that is split into two floors plus what was a maid's room, with a second staircase, on the third floor. The home needs some work; but it is very livable in its current condition. The home is being sold "As Is" and includes all of the furniture, appliances, and a 1st floor laundry room. If you are looking for a large, very interesting home, that is being offered at a very reasonable price, arrange to see this home before it slips back into history with a new owner.

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 14 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: $19,154
• − Mortgage interest: −$3,893
• − Property taxes: −$2,246
• − Insurance: −$348
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$2,022
• Taxable income: $7,581
• Est. tax owed @ 24.0%: −$1,819
• After-tax cash flow: $6,345/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

-21.4% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $88,000 IAR
• 2026-04-22 Price Changed $99,400 IAR
• 2026-02-22 Listed $112,000 IAR

Property tax history

+1.5%/yr

Latest (2025): $2,246 · +5.5% YoY. Source: county tax records.