523 6th St · Allison, IA 50602

$111,900

4 bd · 1.0 ba · 1,250 sqft · Other public records · 142 Days on market

Built 1890 6,900 sqft lot $90/sqft · 16% below area Est $133k · 16% under

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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 +20.6/30.0
• ARV discount +14.5/15.0
• Appreciation +7.2/10.0
• DSCR +6.5/10.0
• Schools +5.9/10.0
• 1% rule +5.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 4-bedroom, 1.5-bath home in Allison is full of potential and ready for someone with a little vision to make it shine. The main floor offers a large bedroom, a full bathroom, and a designated laundry room, which is perfect for main-level living. You’ll also find a good-sized kitchen, which opens to a recently replaced deck, ideal for grilling or entertaining outdoors. Upstairs, you’ll find three additional bedrooms. One features a door leading to a tar-roof patio, and another includes its own private half bath. The true standout of this property is the impressive detached garage. Insulated and heated, it features three stalls of garage doors, two walkout doors, and plenty of space for vehicles, hobbies, or a workshop. Next to the garage is an additional one-stall shed, perfect for storing mowers, shovels, and tools while keeping the heated garage clutter-free. Outside, enjoy a partially fenced yard and an excellent location, just across the street from the courthouse and only a block from Main Street. While this home could use some love, the layout, garage space, and location make it a great opportunity to create your next home or investment.

Key facts

• Private half bath
• 6,900 sq ft lot
• Garage

Tags

• DESIGNATED LAUNDRY ROOM
• RECENTLY REPLACED DECK
• PRIVATE HALF BATH
• IMPRESSIVE DETACHED GARAGE
• INSULATED AND HEATED GARAGE
• THREE STALLS OF GARAGE DOORS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $112k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#375 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Butler Community School District (rural): math 68% / reading 71% proficiency, ranked #152 of 289 in IA (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 11 active listings in the ZIP; 32 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($774 loan paydown + $5k appreciation (4.4% local appreciation)).
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,472 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1890 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.05% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 7.9

CMA / ARV

• ARV (median comp): $132,531
• List price: $111,900
• Delta: -15.57%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

4.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.00×
• Total profit: $31,370
• Equity at exit: $59,249

10-year hold

• IRR: 17.0%
• Equity multiple: 3.83×
• Total profit: $88,697
• Equity at exit: $98,967

Cash invested: $31,332 (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 50602

• Home prices YoY: 2.3%
• Active inventory: 11
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$147 /mo · $1,764/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $149

Break-even live

Break-even rent $988

Max offer price $111,900

Occupancy floor 82%

Sensitivity live

Price	-10% $212	-5% $180	+0% $149	+5% $117	+10% $85
Rent	-10% $56	-5% $102	+0% $149	+5% $195	+10% $242
Rate	-1.0pp $205	-0.5pp $177	base $149	+0.5pp $120	+1.0pp $90

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $111,900 Active 142 DOM
2. 2026-06-18
   days on market $111,900 Active 140 DOM
3. 2026-06-17
   days on market $111,900 Active 139 DOM
4. 2026-06-16
   days on market $111,900 Active 138 DOM
5. 2026-06-15
   days on market $111,900 Active 137 DOM
6. 2026-06-13
   days on market $111,900 Active 135 DOM
7. 2026-06-12
   days on market $111,900 Active 134 DOM
8. 2026-06-09
   days on market $111,900 Active 131 DOM
9. 2026-06-08
   days on market $111,900 Active 130 DOM
10. 2026-06-07
    days on market $111,900 Active 129 DOM
11. 2026-06-07
    days on market $111,900 Active 128 DOM
12. 2026-06-04
    days on market $111,900 Active 125 DOM
13. 2026-06-02
    days on market $111,900 Active 124 DOM
14. 2026-06-01
    days on market $111,900 Active 123 DOM
15. 2026-05-31
    days on market $111,900 Active 122 DOM
16. 2026-05-31
    days on market $111,900 Active 121 DOM
17. 2026-04-30
    price $111,900 1176-char remark

    Show marketing remark (1176 chars)

    This 4-bedroom, 1.5-bath home in Allison is full of potential and ready for someone with a little vision to make it shine. The main floor offers a large bedroom, a full bathroom, and a designated laundry room, which is perfect for main-level living. You’ll also find a good-sized kitchen, which opens to a recently replaced deck, ideal for grilling or entertaining outdoors. Upstairs, you’ll find three additional bedrooms. One features a door leading to a tar-roof patio, and another includes its own private half bath. The true standout of this property is the impressive detached garage. Insulated and heated, it features three stalls of garage doors, two walkout doors, and plenty of space for vehicles, hobbies, or a workshop. Next to the garage is an additional one-stall shed, perfect for storing mowers, shovels, and tools while keeping the heated garage clutter-free. Outside, enjoy a partially fenced yard and an excellent location, just across the street from the courthouse and only a block from Main Street. While this home could use some love, the layout, garage space, and location make it a great opportunity to create your next home or investment.

18. 2026-03-18
    price $116,900 1176-char remark

    Show marketing remark (1176 chars)

    This 4-bedroom, 1.5-bath home in Allison is full of potential and ready for someone with a little vision to make it shine. The main floor offers a large bedroom, a full bathroom, and a designated laundry room, which is perfect for main-level living. You’ll also find a good-sized kitchen, which opens to a recently replaced deck, ideal for grilling or entertaining outdoors. Upstairs, you’ll find three additional bedrooms. One features a door leading to a tar-roof patio, and another includes its own private half bath. The true standout of this property is the impressive detached garage. Insulated and heated, it features three stalls of garage doors, two walkout doors, and plenty of space for vehicles, hobbies, or a workshop. Next to the garage is an additional one-stall shed, perfect for storing mowers, shovels, and tools while keeping the heated garage clutter-free. Outside, enjoy a partially fenced yard and an excellent location, just across the street from the courthouse and only a block from Main Street. While this home could use some love, the layout, garage space, and location make it a great opportunity to create your next home or investment.

19. 2026-01-29
    listed $120,000 Active 1176-char remark

    Show marketing remark (1176 chars)

    This 4-bedroom, 1.5-bath home in Allison is full of potential and ready for someone with a little vision to make it shine. The main floor offers a large bedroom, a full bathroom, and a designated laundry room, which is perfect for main-level living. You’ll also find a good-sized kitchen, which opens to a recently replaced deck, ideal for grilling or entertaining outdoors. Upstairs, you’ll find three additional bedrooms. One features a door leading to a tar-roof patio, and another includes its own private half bath. The true standout of this property is the impressive detached garage. Insulated and heated, it features three stalls of garage doors, two walkout doors, and plenty of space for vehicles, hobbies, or a workshop. Next to the garage is an additional one-stall shed, perfect for storing mowers, shovels, and tools while keeping the heated garage clutter-free. Outside, enjoy a partially fenced yard and an excellent location, just across the street from the courthouse and only a block from Main Street. While this home could use some love, the layout, garage space, and location make it a great opportunity to create your next home or investment.

20. 2022-07-15
    soldstatus $139,900 514-char remark

    Show marketing remark (514 chars)

    Situated on a corner lot, this 1.5 story home in Allison has a lot to offer. Heading through the front door you will be greeted by a spacious living room, an updated kitchen, a full bathroom, a laundry room and a large bedroom. Upstairs you will find 3 additional bedrooms and a 1/2 bath. The deck is great for entertaining and looks out over a fenced yard and play set. The 30x30 garage is every homeowner's dream, not to mention an additional gravel parking pad for fun toys. Call today for your private showing.

21. 2022-07-14
    soldstatus $140,000
22. 2022-07-14
    soldstatus $140,000
23. 2022-05-12
    listed $139,900 514-char remark

    Show marketing remark (514 chars)

    Situated on a corner lot, this 1.5 story home in Allison has a lot to offer. Heading through the front door you will be greeted by a spacious living room, an updated kitchen, a full bathroom, a laundry room and a large bedroom. Upstairs you will find 3 additional bedrooms and a 1/2 bath. The deck is great for entertaining and looks out over a fenced yard and play set. The 30x30 garage is every homeowner's dream, not to mention an additional gravel parking pad for fun toys. Call today for your private showing.

24. 2017-01-27
    soldstatus $71,125
25. 2017-01-26
    soldstatus $71,500
26. 2015-08-06
    listed $70,000
27. 2013-09-03
    soldstatus $57,500

ⓘ 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: $1,764 · $147/mo
• Projected year-2 tax: $1,764 · $147/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $14,114
• − Mortgage interest: −$6,268
• − Property taxes: −$1,764
• − Insurance: −$560
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$3,255
• Taxable income: $8
• Est. tax owed @ 24.0%: −$2
• After-tax cash flow: $1,782/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: North Butler Community School District
• NCES district ID: 1903450
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 71% ▲ 4.00%
• Median HH income: $50,162
• Composite: 58.96/100
• National rank: #966
• State rank: #152 of 289 in IA

Livability — Allison

• Score: 70/100
• State rank: #375
• US rank: #7880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allison, IA
• City population: 1,372
• Population (ZIP): 1,372

Population outlook (Butler County) Hauer SSP2

• Today (2025): 14,831 people
• By 2030: 14,748 · -0.6%
• By 2040: 14,456 · -2.5%
• By 2050: 14,079 · -5.1%
• By 2075: 13,041 · -12.1%
• By 2100: 10,935 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 6% Iranian 4% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+45.4) · D 26.7% · R 72.1% · Other 1.2%
• 2008→2024 swing: -40.7pp toward R · 2008: -4.7pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+38.5 2016: R+36.9 2012: R+10.4 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.38%
• Current HPI: 193.5007
• 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

+94.6% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $111,900 NEIRBR as distributed by MLS GRID
• 2026-03-18 Price Changed $116,900 NEIRBR as distributed by MLS GRID
• 2026-01-29 Listed $120,000 NEIRBR as distributed by MLS GRID
• 2022-07-15 Sold (MLS) $139,900 NEIRBR as distributed by MLS GRID
• 2022-07-14 Sold (Public Records) $140,000 Public Records
• 2022-07-14 Sold (Public Records) $140,000 Public Records
• 2022-05-12 Listed $139,900 NEIRBR as distributed by MLS GRID
• 2017-01-27 Sold (Public Records) $71,125 Public Records
• 2017-01-26 Sold (MLS) $71,500 NEIRBR as distributed by MLS GRID
• 2015-08-06 Listed $70,000 NEIRBR as distributed by MLS GRID
• 2013-09-03 Sold (Public Records) $57,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,764 · -2.4% YoY. Source: county tax records.