509 E Robinson St · Knoxville, IA 50138

$175,000

3 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 70 Days on market

Built 1920 7,200 sqft lot $114/sqft · 12% below area Est $199k · 12% under

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Why this score? — see what drove the D 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).

• ARV discount +12.9/15.0
• Cash flow +9.9/30.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prepare to be delighted! From the street, this 1920 home keeps its secrets—but swing in from the alley and you’ll discover the good stuff: a 2-car garage, an inviting enclosed backyard, and a covered patio begging for porch swings, string lights, and summer lemonade. Step inside and it’s a vintage time-travel treat. Think beautiful 1920s woodwork, preserved with care, paired with 1970s flocked wallpaper so pristine you might just decide it’s iconic. This home is solid, clean, and bursting with personality. Enter to the living room graced with a beautiful staircase, continue through a formal dining room, ready for Sunday dinners, game nights, or whatever vibe you bring with you. The kitchen has all appliances, the laundry, and an adjacent red pantry room. Upstairs are 3 bedrooms and 1 bath - all with fabulous wallpaper! The partially finished basement adds bonus space—perfect for storage, hobbies, or a cozy retreat. Is it dated? Absolutely. Is it charming? Completely. And with a few thoughtful updates, you could have the coolest vintage-meets-modern home just a block from the Knoxville square. Come take a look—you might just fall for its quirky, well-loved soul. This home is part of an estate and is being sold AS IS. All information obtained from the owner and public records.

Key facts

• Vintage woodwork
• Formal dining room
• Covered patio

Tags

• 2 CAR GARAGE
• ENCLOSED BACKYARD
• COVERED PATIO
• VINTAGE WOODWORK
• FORMAL DINING ROOM
• ADJACENT RED PANTRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (27.6% below list).
• Recommended offer: $127k (27.6% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.4% in Knoxville — 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 69/100 on livability (#406 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Knoxville Community School District (town): math 62% / reading 63% proficiency, ranked #220 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 122 units permitted in Marion County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,724 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.66%
• DSCR: 0.88
• GRM: 11.5

CMA / ARV

• ARV (median comp): $198,835
• List price: $175,000
• Delta: -11.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 E Robinson St	0.06mi	3/1.0	1,490 (-3%)	10mo	$50,000	$34	83
113 N 7th St	0.15mi	3/3.0	1,488 (-3%)	3mo	$242,500	$163	77
505 First South St	0.35mi	3/1.0	1,565 (+2%)	7mo	$188,000	$120	75
806 S Spruce St	0.42mi	3/2.0	1,520 (-1%)	8mo	$190,000	$125	67
701 S Roche St	0.47mi	4/2.0 (+1)	1,560 (+1%)	3mo	$168,000	$108	65
502 E Douglas St	0.29mi	3/2.0	1,638 (+6%)	10mo	$223,000	$136	64
704 E Washington St	0.20mi	3/2.0	1,724 (+12%)	4mo	$292,500	$170	63
414 W Marion St	0.50mi	3/2.0	1,460 (-5%)	5mo	$247,000	$169	59
414 W Main St	0.50mi	4/1.0 (+1)	1,428 (-7%)	6mo	$168,000	$118	55
1402 E Marion St	0.47mi	4/2.0 (+1)	1,404 (-9%)	2mo	$220,000	$157	53
803 W Jefferson St	0.71mi	3/2.0	1,440 (-6%)	2mo	$175,000	$122	50
1306 E Pleasant St	0.54mi	2/2.5 (-1)	1,394 (-10%)	10mo	$175,000	$126	40

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-35,322
• Equity at exit: $26,093

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-39,842
• Equity at exit: $15,131

Cash invested: $49,000 (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 50138

• Home prices YoY: -25.3%
• Active inventory: 100
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-109

Break-even live

Break-even rent $1,405

Max offer price $155,801

Occupancy floor —

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $175,000 Active 70 DOM
2. 2026-06-18
   days on market $175,000 Active 69 DOM
3. 2026-06-17
   days on market $175,000 Active 68 DOM
4. 2026-06-16
   days on market $175,000 Active 67 DOM
5. 2026-06-15
   days on market $175,000 Active 66 DOM
6. 2026-06-14
   days on market $175,000 Active 64 DOM
7. 2026-06-12
   days on market $175,000 Active 63 DOM
8. 2026-06-09
   days on market $175,000 Active 60 DOM
9. 2026-06-08
   days on market $175,000 Active 59 DOM
10. 2026-06-07
    days on market $175,000 Active 58 DOM
11. 2026-06-05
    days on market $175,000 Active 56 DOM
12. 2026-06-03
    days on market $175,000 Active 54 DOM
13. 2026-06-02
    days on market $175,000 Active 53 DOM
14. 2026-06-01
    days on market $175,000 Active 52 DOM
15. 2026-05-31
    days on market $175,000 Active 51 DOM
16. 2026-05-30
    days on market $175,000 Active 50 DOM
17. 2026-04-16
    status Active 1331-char remark

    Show marketing remark (1331 chars)

    Prepare to be delighted! From the street, this 1920 home keeps its secrets—but swing in from the alley and you’ll discover the good stuff: a 2-car garage, an inviting enclosed backyard, and a covered patio begging for porch swings, string lights, and summer lemonade. Step inside and it’s a vintage time-travel treat. Think beautiful 1920s woodwork, preserved with care, paired with 1970s flocked wallpaper so pristine you might just decide it’s iconic. This home is solid, clean, and bursting with personality. Enter to the living room graced with a beautiful staircase, continue through a formal dining room, ready for Sunday dinners, game nights, or whatever vibe you bring with you. The kitchen has all appliances, the laundry, and an adjacent red pantry room. Upstairs are 3 bedrooms and 1 bath - all with fabulous wallpaper! The partially finished basement adds bonus space—perfect for storage, hobbies, or a cozy retreat. Is it dated? Absolutely. Is it charming? Completely. And with a few thoughtful updates, you could have the coolest vintage-meets-modern home just a block from the Knoxville square. Come take a look—you might just fall for its quirky, well-loved soul. This home is part of an estate and is being sold AS IS. All information obtained from the owner and public records.

18. 2026-03-31
    status Pending 1331-char remark

    Show marketing remark (1331 chars)

    Prepare to be delighted! From the street, this 1920 home keeps its secrets—but swing in from the alley and you’ll discover the good stuff: a 2-car garage, an inviting enclosed backyard, and a covered patio begging for porch swings, string lights, and summer lemonade. Step inside and it’s a vintage time-travel treat. Think beautiful 1920s woodwork, preserved with care, paired with 1970s flocked wallpaper so pristine you might just decide it’s iconic. This home is solid, clean, and bursting with personality. Enter to the living room graced with a beautiful staircase, continue through a formal dining room, ready for Sunday dinners, game nights, or whatever vibe you bring with you. The kitchen has all appliances, the laundry, and an adjacent red pantry room. Upstairs are 3 bedrooms and 1 bath - all with fabulous wallpaper! The partially finished basement adds bonus space—perfect for storage, hobbies, or a cozy retreat. Is it dated? Absolutely. Is it charming? Completely. And with a few thoughtful updates, you could have the coolest vintage-meets-modern home just a block from the Knoxville square. Come take a look—you might just fall for its quirky, well-loved soul. This home is part of an estate and is being sold AS IS. All information obtained from the owner and public records.

19. 2026-03-25
    listed $175,000 Active 1331-char remark

    Show marketing remark (1331 chars)

    Prepare to be delighted! From the street, this 1920 home keeps its secrets—but swing in from the alley and you’ll discover the good stuff: a 2-car garage, an inviting enclosed backyard, and a covered patio begging for porch swings, string lights, and summer lemonade. Step inside and it’s a vintage time-travel treat. Think beautiful 1920s woodwork, preserved with care, paired with 1970s flocked wallpaper so pristine you might just decide it’s iconic. This home is solid, clean, and bursting with personality. Enter to the living room graced with a beautiful staircase, continue through a formal dining room, ready for Sunday dinners, game nights, or whatever vibe you bring with you. The kitchen has all appliances, the laundry, and an adjacent red pantry room. Upstairs are 3 bedrooms and 1 bath - all with fabulous wallpaper! The partially finished basement adds bonus space—perfect for storage, hobbies, or a cozy retreat. Is it dated? Absolutely. Is it charming? Completely. And with a few thoughtful updates, you could have the coolest vintage-meets-modern home just a block from the Knoxville square. Come take a look—you might just fall for its quirky, well-loved soul. This home is part of an estate and is being sold AS IS. All information obtained from the owner and public records.

ⓘ 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: $1,430 · $119/mo
• Projected year-2 tax: $2,089 · $174/mo
• Expected delta: +$659/yr (+$55/mo · 46.1%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,207
• − Mortgage interest: −$9,803
• − Property taxes: −$1,430
• − Insurance: −$875
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$5,091
• Taxable loss: −$4,425
• Est. tax savings @ 24.0%: +$1,062
• After-tax cash flow: $-242/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: Knoxville Community School District
• NCES district ID: 1915840
• Math proficiency: 62% ▼ -6.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $49,594
• Composite: 53.11/100
• National rank: #1512
• State rank: #220 of 289 in IA

Livability — Knoxville

• Score: 69/100
• State rank: #406
• US rank: #8643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knoxville, IA
• County: Marion County · 25,533 people
• City population: 11,117
• Metro: Pella, IA
• Population (ZIP): 11,117
• Household income: $74,693
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 122.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 12% Portuguese 4% Italian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.37%
• Current HPI: 237.7055
• Rent YoY: —
• Metro: Pella, IA
• 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

3 events — show timeline

• 2026-04-16 Relisted — DMMLS
• 2026-03-31 Pending — DMMLS
• 2026-03-25 Listed $175,000 DMMLS

Property tax history

+3.6%/yr

Latest (2025): $1,430 · -5.7% YoY. Source: county tax records.