720 S Frederick · Oelwein, IA 50662

$80,000

3 bd · 2.0 ba · 1,884 sqft · SingleFamily public records

Built 1891 9,000 sqft lot Est $134k · 40% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +7.5/10.0
• 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

This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

Key facts

• 9,000 sq ft lot
• Parking
• Built 1891

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 9.1% 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.
• Zoned schools: Wings Park Elementary School (math 52% / reading 47%, grade D, #514 of 616 statewide, top 85%, 345 students, 64% FRL); Oelwein Middle School (math 44% / reading 54%, grade C-, #219 of 246 statewide, top 90%, 359 students, 60% FRL); Oelwein High School (math 46% / reading 62%, grade C-, #293 of 336 statewide, top 87%, 314 students, 46% FRL).
• 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 $553 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.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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.
• Current owner paid $35k; list at $80k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.25% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $133,764
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
720 S Frederick	0.00mi	3/1.5	1,884 (0%)	1mo	$80,000	$42	97
720 S Frederick	0.00mi	3/1.5	1,884 (0%)	4mo	$35,000	$19	95
108 SE 8th St	0.13mi	3/2.0	2,059 (+9%)	8mo	$163,500	$79	72
605 S Frederick Ave	0.14mi	4/2.0 (+1)	2,014 (+7%)	10mo	$144,000	$71	69
618 4th Ave Ave SW	0.29mi	4/2.0 (+1)	1,922 (+2%)	18mo	$129,000	$67	63
513 5th Ave. Ave SE	0.42mi	3/3.0	1,824 (-3%)	10mo	$172,500	$95	63
708 1st Ave Ave SW	0.07mi	2/2.0 (-1)	1,706 (-9%)	22mo	$120,000	$70	58
805 7th Street St SE	0.60mi	3/2.0	1,990 (+6%)	10mo	$195,000	$98	54
201 3rd Ave Ave SE	0.54mi	4/2.0 (+1)	2,138 (+14%)	0mo	$170,000	$80	47
404 4th Ave Ave SE	0.41mi	3/2.0	2,154 (+14%)	22mo	$145,000	$67	39

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-873
• Equity at exit: $11,928

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $14,933
• Equity at exit: $6,917

Cash invested: $22,400 (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: $1,000 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$148 /mo · $1,776/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $189

Break-even live

Break-even rent $761

Max offer price $80,000

Occupancy floor 76%

Sensitivity live

Price	-10% $234	-5% $212	+0% $189	+5% $166	+10% $144
Rent	-10% $110	-5% $150	+0% $189	+5% $229	+10% $268
Rate	-1.0pp $229	-0.5pp $209	base $189	+0.5pp $168	+1.0pp $147

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1297 S Frederick Ave Unit 3 Oelwein, IA	3.0	1.0	1500	$1,000	$0.67	22d	1	0.56mi

Listing history 15 events

1. 2026-05-15
   historical
2. 2026-05-15
   listed $80,000
3. 2026-02-23
   soldstatus $35,000
4. 2026-02-18
   soldstatus $35,000 Closed 286-char remark

   Show marketing remark (286 chars)

   This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

5. 2026-01-26
   status Pending 286-char remark

   Show marketing remark (286 chars)

   This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

6. 2025-12-08
   price $49,900 286-char remark

   Show marketing remark (286 chars)

   This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

7. 2025-11-24
   price $59,900 286-char remark

   Show marketing remark (286 chars)

   This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

8. 2025-11-03
   listed $69,000 Active 286-char remark

   Show marketing remark (286 chars)

   This 2 story charmer on a large corner lot is priced to sell and ready for you to make it your own. Character abounds this 3 bedroom, 1 1/2 bath home with plenty of room to roam. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today!

9. 2022-11-01
   soldstatus $35,000 Closed 232-char remark

   Show marketing remark (232 chars)

   Selling As-Is. Handyman Special. Large 3 bedroom, 1.5 bath, large living room and kitchen. Full basement, 1 detached garage, small lean-to and partial private fenced in yard. Corner lot off S Frederick. Great investment opportunity.

10. 2022-09-19
    status Pending 232-char remark

    Show marketing remark (232 chars)

    Selling As-Is. Handyman Special. Large 3 bedroom, 1.5 bath, large living room and kitchen. Full basement, 1 detached garage, small lean-to and partial private fenced in yard. Corner lot off S Frederick. Great investment opportunity.

11. 2022-09-17
    listed $35,000 Active 232-char remark

    Show marketing remark (232 chars)

    Selling As-Is. Handyman Special. Large 3 bedroom, 1.5 bath, large living room and kitchen. Full basement, 1 detached garage, small lean-to and partial private fenced in yard. Corner lot off S Frederick. Great investment opportunity.

12. 2020-04-13
    soldstatus $50,000
13. 2020-04-09
    soldstatus $50,000
14. 2018-07-06
    listed $55,000
15. 2009-09-04
    soldstatus $59,000

ⓘ 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: $1,776 · $148/mo
• Projected year-2 tax: $1,776 · $148/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 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: $12,000
• − Mortgage interest: −$4,481
• − Property taxes: −$1,776
• − Insurance: −$400
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,327
• Taxable income: $1,095
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $2,007/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

+35.6% since first listed

15 events — show timeline

• 2026-05-15 Listed $80,000 NEIRBR as distributed by MLS GRID
• 2026-05-15 Delisted — NEIRBR as distributed by MLS GRID
• 2026-02-23 Sold (Public Records) $35,000 Public Records
• 2026-02-18 Sold (MLS) $35,000 NEIRBR as distributed by MLS GRID
• 2026-01-26 Pending — NEIRBR as distributed by MLS GRID
• 2025-12-08 Price Changed $49,900 NEIRBR as distributed by MLS GRID
• 2025-11-24 Price Changed $59,900 NEIRBR as distributed by MLS GRID
• 2025-11-03 Listed $69,000 NEIRBR as distributed by MLS GRID
• 2022-11-01 Sold (MLS) $35,000 NEIRBR as distributed by MLS GRID
• 2022-09-19 Pending — NEIRBR as distributed by MLS GRID
• 2022-09-17 Listed $35,000 NEIRBR as distributed by MLS GRID
• 2020-04-13 Sold (Public Records) $50,000 Public Records
• 2020-04-09 Sold (MLS) $50,000 NEIRBR as distributed by MLS GRID
• 2018-07-06 Listed $55,000 NEIRBR as distributed by MLS GRID
• 2009-09-04 Sold (Public Records) $59,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,776 · +11.6% YoY. Source: county tax records.