201 S Adams St · Olds, IA 52647

$159,900

6 bd · 2.0 ba · 2,593 sqft · SingleFamily public records · 198 Days on market

Built 1900 0.49 ac lot $62/sqft · 24% below area Est $210k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home! This spacious 4-bedroom, 2-bath, two-story residence is situated on nearly a half-acre lot. Filled with charm and comfort, this 2,593 sq ft home features hardwood floors, central heat and air, and an inviting layout perfect for both everyday living and entertaining. The main level offers generous living spaces, including a huge rec room ideal for gatherings, hobbies, or a second family room. The kitchen and dining areas flow effortlessly to the outdoors, where you’ll find a great backyard with a patio and pool. A 2-car attached garage adds convenience and storage options. Call TODAY to schedule a showing!

Key facts

• Half-acre lot
• Central heat and air
• Huge rec room

Tags

• HALF-ACRE LOT
• HARDWOOD FLOORS
• CENTRAL HEAT AND AIR
• HUGE REC ROOM
• GREAT BACKYARD
• PATIO

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-25 ($-298/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (17.1% below list).
• Recommended offer: $133k (17.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#450 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety D+, schools D, amenities F.
• Waco Community School District (rural): math 56% / reading 64% proficiency, ranked #242 of 289 in IA (top 84%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($141k) 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.
• Current owner paid $78k; list at $160k implies a 105% 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 $132,554 (17.1% 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 198 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.83% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.1

CMA / ARV

• ARV (median comp): $210,500
• List price: $159,900
• Delta: -24.04%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.9%
• Equity multiple: 1.39×
• Total profit: $17,682
• Equity at exit: $71,898

10-year hold

• IRR: 9.7%
• Equity multiple: 2.46×
• Total profit: $65,184
• Equity at exit: $110,803

Cash invested: $44,772 (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 52647

• Active inventory: 3
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$167 /mo · $2,002/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-25

Break-even live

Break-even rent $1,357

Max offer price $155,516

Occupancy floor 97%

Sensitivity live

Price	-10% $66	-5% $20	+0% $-25	+5% $-70	+10% $-115
Rent	-10% $-130	-5% $-77	+0% $-25	+5% $28	+10% $80
Rate	-1.0pp $56	-0.5pp $16	base $-25	+0.5pp $-66	+1.0pp $-108

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $159,900 Active 198 DOM
2. 2026-06-18
   days on market $159,900 Active 196 DOM
3. 2026-06-17
   days on market $159,900 Active 195 DOM
4. 2026-06-16
   days on market $159,900 Active 194 DOM
5. 2026-06-15
   days on market $159,900 Active 193 DOM
6. 2026-06-13
   pricedays on market $159,900 Active 191 DOM
7. 2026-06-12
   statusdays on market $164,900 Active 190 DOM
8. 2026-06-09
   days on market $164,900 Active Under Contract 187 DOM
9. 2026-06-08
   days on market $164,900 Active Under Contract 186 DOM
10. 2026-06-07
    days on market $164,900 Active Under Contract 185 DOM
11. 2026-06-04
    days on market $164,900 Active Under Contract 181 DOM
12. 2026-06-02
    days on market $164,900 Active Under Contract 180 DOM
13. 2026-06-01
    days on market $164,900 Active Under Contract 179 DOM
14. 2026-05-31
    days on market $164,900 Active Under Contract 178 DOM
15. 2026-05-31
    days on market $164,900 Active Under Contract 177 DOM
16. 2026-05-04
    historical Active Under Contract 632-char remark

    Show marketing remark (632 chars)

    Welcome home! This spacious 4-bedroom, 2-bath, two-story residence is situated on nearly a half-acre lot. Filled with charm and comfort, this 2,593 sq ft home features hardwood floors, central heat and air, and an inviting layout perfect for both everyday living and entertaining. The main level offers generous living spaces, including a huge rec room ideal for gatherings, hobbies, or a second family room. The kitchen and dining areas flow effortlessly to the outdoors, where you’ll find a great backyard with a patio and pool. A 2-car attached garage adds convenience and storage options. Call TODAY to schedule a showing!

17. 2026-03-27
    status Active 632-char remark

    Show marketing remark (632 chars)

    Welcome home! This spacious 4-bedroom, 2-bath, two-story residence is situated on nearly a half-acre lot. Filled with charm and comfort, this 2,593 sq ft home features hardwood floors, central heat and air, and an inviting layout perfect for both everyday living and entertaining. The main level offers generous living spaces, including a huge rec room ideal for gatherings, hobbies, or a second family room. The kitchen and dining areas flow effortlessly to the outdoors, where you’ll find a great backyard with a patio and pool. A 2-car attached garage adds convenience and storage options. Call TODAY to schedule a showing!

18. 2026-03-10
    historical Active Under Contract 632-char remark

    Show marketing remark (632 chars)

    Welcome home! This spacious 4-bedroom, 2-bath, two-story residence is situated on nearly a half-acre lot. Filled with charm and comfort, this 2,593 sq ft home features hardwood floors, central heat and air, and an inviting layout perfect for both everyday living and entertaining. The main level offers generous living spaces, including a huge rec room ideal for gatherings, hobbies, or a second family room. The kitchen and dining areas flow effortlessly to the outdoors, where you’ll find a great backyard with a patio and pool. A 2-car attached garage adds convenience and storage options. Call TODAY to schedule a showing!

19. 2025-12-04
    listed $164,900 Active 632-char remark

    Show marketing remark (632 chars)

    Welcome home! This spacious 4-bedroom, 2-bath, two-story residence is situated on nearly a half-acre lot. Filled with charm and comfort, this 2,593 sq ft home features hardwood floors, central heat and air, and an inviting layout perfect for both everyday living and entertaining. The main level offers generous living spaces, including a huge rec room ideal for gatherings, hobbies, or a second family room. The kitchen and dining areas flow effortlessly to the outdoors, where you’ll find a great backyard with a patio and pool. A 2-car attached garage adds convenience and storage options. Call TODAY to schedule a showing!

20. 2013-12-03
    soldstatus $78,000
21. 2007-09-06
    soldstatus $62,000

ⓘ 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: $2,002 · $167/mo
• Projected year-2 tax: $2,256 · $188/mo
• Expected delta: +$254/yr (+$21/mo · 12.7%)

ⓘ 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 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,906
• − Mortgage interest: −$8,957
• − Property taxes: −$2,002
• − Insurance: −$800
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$4,652
• Taxable loss: −$3,049
• Est. tax savings @ 24.0%: +$732
• After-tax cash flow: $434/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: Waco Community School District
• NCES district ID: 1929490
• Math proficiency: 56% ▼ -8.00%
• Reading proficiency: 64% ▬ 0.00%
• Median HH income: $52,874
• Composite: 51.32/100
• National rank: #1740
• State rank: #242 of 289 in IA

Livability — Olds

• Score: 68/100
• State rank: #450
• US rank: #9850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olds, IA
• City population: 75
• Population (ZIP): 75

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 5%
• Common ancestry: Iranian 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+166.0% since first listed

6 events — show timeline

• 2026-05-04 Contingent — IAR
• 2026-03-27 Relisted — IAR
• 2026-03-10 Contingent — IAR
• 2025-12-04 Listed $164,900 IAR
• 2013-12-03 Sold (Public Records) $78,000 Public Records
• 2007-09-06 Sold (Public Records) $62,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,002 · +6.0% YoY. Source: county tax records.