523 N Sherman St · Stuart, IA 50250

$26,500

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 104 Days on market

Built 1995 0.27 ac lot ↓ 1% since listing

---

Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom home is a fantastic investment opportunity. It needs cleaned out, and some basic repairs, but is very solid, on a nice lot, in a nice area. Think fix and flip, rental, or make it your own. Tons of instant equity in this bargain, priced for a quick sale. Don't wait around! Call or text today!!

Key facts

• 0.27 acre lot
• Built 1995
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $26k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($984 rent vs $26k).
• Recommended offer: $24k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#181 in IA, #3,246 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• West Central Valley Community School District (rural): math 68% / reading 75% proficiency, ranked #115 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 30 active listings in the ZIP; 21 units permitted in Guthrie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($183 loan paydown + $3k appreciation (10.0% local appreciation)).
• Guthrie County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $6k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,115 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.71% ✓
• Cap rate: 31.77%
• Cash-on-cash: 90.99%
• DSCR: 5.05
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 100.0%
• Equity multiple: 7.78×
• Total profit: $50,299
• Equity at exit: $23,873

10-year hold

• IRR: 95.3%
• Equity multiple: 17.17×
• Total profit: $120,013
• Equity at exit: $51,484

Cash invested: $7,420 (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 50250

• Home prices YoY: 6.2%
• Active inventory: 30
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $984 medium
• Mortgage (P&I): −$139
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $563

Break-even live

Break-even rent $272

Max offer price $26,500

Occupancy floor 38%

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: $6,625
• Closing costs: $795
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $26,500 Active 104 DOM
2. 2026-06-17
   days on market $26,500 Active 103 DOM
3. 2026-06-16
   days on market $26,500 Active 102 DOM
4. 2026-06-15
   days on market $26,500 Active 101 DOM
5. 2026-06-14
   days on market $26,500 Active 99 DOM
6. 2026-06-10
   days on market $26,500 Active 96 DOM
7. 2026-06-09
   days on market $26,500 Active 95 DOM
8. 2026-06-08
   days on market $26,500 Active 94 DOM
9. 2026-06-07
   days on market $26,500 Active 93 DOM
10. 2026-06-03
    days on market $26,500 Active 89 DOM
11. 2026-06-02
    pricedays on market $26,500 Active 88 DOM
12. 2026-06-01
    days on market $29,500 Active 87 DOM
13. 2026-05-31
    days on market $29,500 Active 86 DOM
14. 2026-05-31
    days on market $29,500 Active 85 DOM
15. 2026-05-07
    price $29,500 308-char remark

    Show marketing remark (308 chars)

    This 3 bedroom home is a fantastic investment opportunity. It needs cleaned out, and some basic repairs, but is very solid, on a nice lot, in a nice area. Think fix and flip, rental, or make it your own. Tons of instant equity in this bargain, priced for a quick sale. Don't wait around! Call or text today!!

16. 2026-03-06
    listed $32,500 Active 308-char remark

    Show marketing remark (308 chars)

    This 3 bedroom home is a fantastic investment opportunity. It needs cleaned out, and some basic repairs, but is very solid, on a nice lot, in a nice area. Think fix and flip, rental, or make it your own. Tons of instant equity in this bargain, priced for a quick sale. Don't wait around! Call or text today!!

17. 2021-03-10
    historical 294-char remark

    Show marketing remark (294 chars)

    Lot of potential here. This manufactured home has master suite with bath, 2 more bedrooms, full bath, nice sized living room, kitchen and dining area. Home is in need of some repairs. Sold "AS IS". This home is eligible under Freddie Mac First Look initiative through January 10, 2021

18. 2021-03-10
    soldstatus $29,999 Closed 294-char remark

    Show marketing remark (294 chars)

    Lot of potential here. This manufactured home has master suite with bath, 2 more bedrooms, full bath, nice sized living room, kitchen and dining area. Home is in need of some repairs. Sold "AS IS". This home is eligible under Freddie Mac First Look initiative through January 10, 2021

19. 2020-12-21
    listed $29,900 294-char remark

    Show marketing remark (294 chars)

    Lot of potential here. This manufactured home has master suite with bath, 2 more bedrooms, full bath, nice sized living room, kitchen and dining area. Home is in need of some repairs. Sold "AS IS". This home is eligible under Freddie Mac First Look initiative through January 10, 2021

ⓘ 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: $776 · $65/mo
• Projected year-2 tax: $776 · $65/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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $11,807
• − Mortgage interest: −$1,484
• − Property taxes: −$776
• − Insurance: −$132
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$771
• Taxable income: $6,754
• Est. tax owed @ 24.0%: −$1,621
• After-tax cash flow: $5,130/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: West Central Valley Community School District
• NCES district ID: 1927500
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 75% ▲ 4.00%
• Median HH income: $53,933
• Composite: 60.96/100
• National rank: #803
• State rank: #115 of 289 in IA

Livability — Stuart

• Score: 77/100
• State rank: #181
• US rank: #3246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stuart, IA
• Population (ZIP): 2,652

Population outlook (Guthrie County) Hauer SSP2

• Today (2025): 10,248 people
• By 2030: 9,993 · -2.5%
• By 2040: 9,440 · -7.9%
• By 2050: 8,926 · -12.9%
• By 2075: 8,466 · -17.4%
• By 2100: 7,842 · -23.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Iranian 3% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Guthrie

• 2024 margin: Solid R (+38.0) · D 30.3% · R 68.2% · Other 1.4%
• 2008→2024 swing: -30.3pp toward R · 2008: -7.7pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+35.9 2016: R+33.3 2012: R+10.2 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.74%
• Current HPI: 236.1696
• 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

-1.3% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $29,500 IAR
• 2026-03-06 Listed $32,500 IAR
• 2021-03-10 Sold (MLS) $29,999 DMMLS
• 2021-03-10 Listing Removed — DMMLS
• 2020-12-21 Listed $29,900 DMMLS

Property tax history

-2.3%/yr

Latest (2025): $776 · +4.9% YoY. Source: county tax records.