25278 140th St · Orleans, IA 51360

$145,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 87 Days on market

Built 1930 8,712 sqft lot $151/sqft · 38% below area Est $234k · 38% under

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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 +16.9/30.0
• ARV discount +15.0/15.0
• Schools +6.5/10.0
• DSCR +5.2/10.0
• 1% rule +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single-Level Home on a Spacious Corner Lot in Orleans! Enjoy the ease of single-level living with no steps inside or out in this cozy home, perfectly situated on a large corner lot just a couple of blocks from Big Spirit Lake and East Lake Okoboji. Take advantage of nearby bike/walking trails, offering plenty of outdoor fun right at your doorstep. This property needs a little TLC, making it ideal for an investor, handyman, or someone looking to customize their summer retreat. Historically, it’s been a reliable rental property, & it would also make a fantastic seasonal getaway for those looking to enjoy the Iowa Great Lakes lifestyle. Don’t miss this opportunity to create your dream home or investment property in a prime lakes area location! Being sold AS-IS.

Key facts

• Seasonal getaway
• Spacious corner lot
• Single level home

Tags

• SINGLE LEVEL HOME
• SPACIOUS CORNER LOT
• NEARBY BIKE WALKING TRAILS
• RELIABLE RENTAL PROPERTY
• SEASONAL GETAWAY
• PRIME LAKES AREA LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (13.5% below list).
• Recommended offer: $125k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#902 in IA) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: schools C-, employment C-, health & safety D+.
• Spirit Lake Community School District (town): math 73% / reading 78% proficiency, ranked #59 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 143 active listings in the ZIP; 295 units permitted in Dickinson County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Dickinson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,423 (13.5% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (median comp): $233,879
• List price: $145,000
• Delta: -38.00%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13545 253rd Ave	0.34mi	3/1.0 (+1)	1,100 (+15%)	22mo	$670,000	$609	37

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-17,490
• Equity at exit: $21,620

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-7,625
• Equity at exit: $12,537

Cash invested: $40,600 (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 51360

• Active inventory: 143
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,254 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $95

Break-even live

Break-even rent $1,134

Max offer price $145,000

Occupancy floor 87%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $145,000 Active 87 DOM
2. 2026-06-17
   days on market $145,000 Active 86 DOM
3. 2026-06-16
   days on market $145,000 Active 85 DOM
4. 2026-06-15
   days on market $145,000 Active 84 DOM
5. 2026-06-13
   days on market $145,000 Active 82 DOM
6. 2026-06-12
   days on market $145,000 Active 81 DOM
7. 2026-06-09
   days on market $145,000 Active 78 DOM
8. 2026-06-08
   days on market $145,000 Active 77 DOM
9. 2026-06-07
   days on market $145,000 Active 76 DOM
10. 2026-06-07
    days on market $145,000 Active 75 DOM
11. 2026-06-04
    days on market $145,000 Active 72 DOM
12. 2026-06-02
    days on market $145,000 Active 71 DOM
13. 2026-06-01
    days on market $145,000 Active 70 DOM
14. 2026-05-31
    days on market $145,000 Active 69 DOM
15. 2026-05-31
    days on market $145,000 Active 68 DOM
16. 2026-03-23
    listed $145,000 Active 786-char remark

    Show marketing remark (786 chars)

    Single-Level Home on a Spacious Corner Lot in Orleans! Enjoy the ease of single-level living with no steps inside or out in this cozy home, perfectly situated on a large corner lot just a couple of blocks from Big Spirit Lake and East Lake Okoboji. Take advantage of nearby bike/walking trails, offering plenty of outdoor fun right at your doorstep. This property needs a little TLC, making it ideal for an investor, handyman, or someone looking to customize their summer retreat. Historically, it’s been a reliable rental property, & it would also make a fantastic seasonal getaway for those looking to enjoy the Iowa Great Lakes lifestyle. Don’t miss this opportunity to create your dream home or investment property in a prime lakes area location! Being sold AS-IS.

17. 2024-04-04
    price $220,000
18. 2023-12-22
    listed $225,000 Active
19. 2015-06-15
    soldstatus $500,100

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $1,588 · $132/mo
• Expected delta: +$688/yr (+$57/mo · 76.5%)

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,051
• − Mortgage interest: −$8,122
• − Property taxes: −$900
• − Insurance: −$725
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$4,218
• Taxable loss: −$1,323
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $1,458/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: Spirit Lake Community School District
• NCES district ID: 1927000
• Math proficiency: 73% ▼ -9.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $56,797
• Composite: 64.57/100
• National rank: #535
• State rank: #59 of 289 in IA

Livability — Orleans

• Score: 58/100
• State rank: #902
• US rank: #21395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orleans, IA
• Population (ZIP): 8,561

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,133 people
• By 2030: 18,610 · +2.6%
• By 2040: 19,456 · +7.3%
• By 2050: 20,307 · +12.0%
• By 2075: 23,155 · +27.7%
• By 2100: 24,449 · +34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Portuguese 9% Iranian 8% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+40.0) · D 29.5% · R 69.5% · Other 1.1%
• 2008→2024 swing: -34.6pp toward R · 2008: -5.4pp · 2024: -40.0pp
• All cycles: 2024: R+40.0 2020: R+33.6 2016: R+36.0 2012: R+18.0 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.60%
• Current HPI: 209.6205
• 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

-71.0% since first listed

4 events — show timeline

• 2026-03-23 Listed $145,000 Iowa Great Lakes BOR
• 2024-04-04 Price Changed $220,000 Iowa Great Lakes BOR
• 2023-12-22 Listed $225,000 Iowa Great Lakes BOR
• 2015-06-15 Sold (Public Records) $500,100 Public Records

Property tax history

+4.3%/yr

Latest (2025): $900 · -3.0% YoY. Source: county tax records.