932 S Frederick Ave Ave · Oelwein, IA 50662

$52,500

2 bd · 1.0 ba · 990 sqft · SingleFamily public records · 57 Days on market

Built 1910 9,834 sqft lot $53/sqft · 34% below area Est $80k · 34% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity meets potential in this 2-bedroom, 1-bath home priced to sell! The home features a spacious 2-stall garage, perfect for vehicles, storage, or a workshop, along with two additional sheds offering even more space for tools and hobbies. Whether you’re looking for a project or an affordable place to make your own, this property offers solid value and endless possibilities.

Key facts

• Two additional sheds
• 9,834 sq ft lot
• Garage

Tags

• SPACIOUS 2-STALL GARAGE
• TWO ADDITIONAL SHEDS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($650 rent vs $52k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.5% in Oelwein — 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 76/100 on livability (#186 in IA, #3,329 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Oelwein Community School District (town): math 47% / reading 55% proficiency, ranked #281 of 289 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $363 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($51k) 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 $35k; list at $52k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,925 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.35%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $79,790
• List price: $52,500
• Delta: -34.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 1st Ave Ave SW	0.10mi	3/2.0 (+1)	960 (-3%)	2mo	$118,000	$123	79
115 6th St. St SW	0.34mi	2/1.5	1,058 (+7%)	2mo	$79,000	$75	69
509 3rd Ave Ave SE	0.44mi	3/1.0 (+1)	960 (-3%)	11mo	$130,000	$135	60
326 4 1/2 St. St SW	0.49mi	2/1.0	921 (-7%)	23mo	$53,500	$58	46
229 5th Ave Ave SE	0.69mi	2/1.0	1,061 (+7%)	14mo	$83,500	$79	44
540 SW 8 St	0.46mi	1/1.0 (-1)	860 (-13%)	10mo	$100,000	$116	43
529 5th Ave Ave SE	0.48mi	3/2.5 (+1)	864 (-13%)	11mo	$96,000	$111	36

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $1,139
• Equity at exit: $7,828

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $13,439
• Equity at exit: $4,539

Cash invested: $14,700 (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 50662

• Home prices YoY: -21.7%
• Active inventory: 60
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $650 medium
• Mortgage (P&I): −$275
• Tax from tax record: −$65 /mo · $780/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$136
• Net cashflow: $151

Break-even live

Break-even rent $458

Max offer price $52,500

Occupancy floor 72%

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: $13,125
• Closing costs: $1,575
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 N Frederick Ave Apt 1 Oelwein, IA	2.0	1.0	1125	$650	$0.58	43d	1	0.89mi

Listing history 17 events

1. 2026-06-15
   statusdays on market $52,500 Pending 57 DOM
2. 2026-06-13
   days on market $52,500 Active 56 DOM
3. 2026-06-12
   days on market $52,500 Active 55 DOM
4. 2026-06-09
   days on market $52,500 Active 52 DOM
5. 2026-06-08
   days on market $52,500 Active 51 DOM
6. 2026-06-07
   days on market $52,500 Active 50 DOM
7. 2026-06-07
   days on market $52,500 Active 49 DOM
8. 2026-06-04
   days on market $52,500 Active 46 DOM
9. 2026-06-02
   days on market $52,500 Active 45 DOM
10. 2026-06-01
    days on market $52,500 Active 44 DOM
11. 2026-05-31
    days on market $52,500 Active 43 DOM
12. 2026-05-31
    days on market $52,500 Active 42 DOM
13. 2026-05-14
    status Active 389-char remark

    Show marketing remark (389 chars)

    Opportunity meets potential in this 2-bedroom, 1-bath home priced to sell! The home features a spacious 2-stall garage, perfect for vehicles, storage, or a workshop, along with two additional sheds offering even more space for tools and hobbies. Whether you’re looking for a project or an affordable place to make your own, this property offers solid value and endless possibilities.

14. 2026-05-09
    status Pending 389-char remark

    Show marketing remark (389 chars)

    Opportunity meets potential in this 2-bedroom, 1-bath home priced to sell! The home features a spacious 2-stall garage, perfect for vehicles, storage, or a workshop, along with two additional sheds offering even more space for tools and hobbies. Whether you’re looking for a project or an affordable place to make your own, this property offers solid value and endless possibilities.

15. 2026-04-13
    listed $55,000 Active 389-char remark

    Show marketing remark (389 chars)

    Opportunity meets potential in this 2-bedroom, 1-bath home priced to sell! The home features a spacious 2-stall garage, perfect for vehicles, storage, or a workshop, along with two additional sheds offering even more space for tools and hobbies. Whether you’re looking for a project or an affordable place to make your own, this property offers solid value and endless possibilities.

16. 2026-03-30
    soldstatus $35,000
17. 2022-08-01
    soldstatus $35,000

ⓘ 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: $780 · $65/mo
• Projected year-2 tax: $802 · $67/mo
• Expected delta: +$22/yr (+$2/mo · 2.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $7,800
• − Mortgage interest: −$2,941
• − Property taxes: −$780
• − Insurance: −$262
• − Repairs & maintenance: −$624
• − Management: −$624
• − Depreciation: −$1,527
• Taxable income: $1,041
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $1,566/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: Oelwein Community School District
• NCES district ID: 1921630
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $39,812
• Composite: 42.61/100
• National rank: #3189
• State rank: #281 of 289 in IA

Livability — Oelwein

• Score: 76/100
• State rank: #186
• US rank: #3329

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oelwein, IA
• Population (ZIP): 6,497

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.26%
• Current HPI: 177.9399
• 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

+57.1% since first listed

5 events — show timeline

• 2026-05-14 Relisted — NEIRBR as distributed by MLS GRID
• 2026-05-09 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-13 Listed $55,000 NEIRBR as distributed by MLS GRID
• 2026-03-30 Sold (Public Records) $35,000 Public Records
• 2022-08-01 Sold (Public Records) $35,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $780 · +2.1% YoY. Source: county tax records.