1001 16th St · Eldora, IA 50627

$40,243

4 bd · 3.0 ba · 1,548 sqft · SingleFamily public records · 190 Days on market

Built 1923 8,192 sqft lot $26/sqft · 59% below area ↓ 20% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks MLS

This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

Key facts

• 8,192 sq ft lot
• Parking
• Built 1923

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#336 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Eldora-New Providence Community School District (rural): math 60% / reading 66% proficiency, ranked #217 of 289 in IA (top 75%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 30 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $278 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,413 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.88% ✓
• Cap rate: 23.69%
• Cash-on-cash: 62.14%
• DSCR: 3.76
• GRM: 2.9

CMA / ARV

• ARV (median comp): $97,497
• List price: $40,243
• Delta: -58.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 12th St	0.25mi	3/2.0 (-1)	1,546 (-0%)	17mo	$158,000	$102	65
1714 12th St	0.54mi	4/1.0	1,569 (+1%)	8mo	$24,000	$15	58
1218 15th St	0.16mi	4/1.5	1,456 (-6%)	23mo	$50,000	$34	57
1702 Washington St	0.48mi	3/1.5 (-1)	1,464 (-5%)	4mo	$120,000	$82	54
816 17th Ave	0.61mi	3/2.0 (-1)	1,616 (+4%)	9mo	$163,500	$101	48
1305 6th St	0.71mi	3/2.0 (-1)	1,620 (+5%)	10mo	$155,000	$96	42
1809 11th St	0.65mi	4/1.5	1,340 (-13%)	1mo	$143,000	$107	40
803 9th Ave	0.47mi	3/1.5 (-1)	1,456 (-6%)	24mo	$171,000	$117	37
2004 12th St	0.70mi	3/2.0 (-1)	1,360 (-12%)	10mo	$150,000	$110	30
1101 18th Ave	0.61mi	3/1.0 (-1)	1,412 (-9%)	18mo	$75,000	$53	29

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: 61.1%
• Equity multiple: 3.72×
• Total profit: $30,692
• Equity at exit: $6,000

10-year hold

• IRR: 65.7%
• Equity multiple: 7.64×
• Total profit: $74,785
• Equity at exit: $3,479

Cash invested: $11,268 (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 50627

• Home prices YoY: -3.7%
• Active inventory: 30
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$211
• Tax from tax record: −$105 /mo · $1,256/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $583

Break-even live

Break-even rent $421

Max offer price $40,243

Occupancy floor 45%

Sensitivity live

Price	-10% $606	-5% $595	+0% $583	+5% $572	+10% $561
Rent	-10% $492	-5% $538	+0% $583	+5% $629	+10% $675
Rate	-1.0pp $604	-0.5pp $594	base $583	+0.5pp $573	+1.0pp $562

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: $10,061
• Closing costs: $1,207
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   statusdays on market $40,243 Pending 190 DOM
2. 2026-06-08
   days on market $40,243 Active 189 DOM
3. 2026-06-07
   days on market $40,243 Active 188 DOM
4. 2026-06-07
   days on market $40,243 Active 187 DOM
5. 2026-06-04
   days on market $40,243 Active 184 DOM
6. 2026-06-02
   days on market $40,243 Active 183 DOM
7. 2026-06-01
   days on market $40,243 Active 182 DOM
8. 2026-05-31
   days on market $40,243 Active 181 DOM
9. 2026-05-31
   days on market $40,243 Active 180 DOM
10. 2026-04-23
    price $42,925 290-char remark

    Show marketing remark (290 chars)

    This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

11. 2026-03-23
    price $45,608 290-char remark

    Show marketing remark (290 chars)

    This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

12. 2026-02-20
    price $48,291 290-char remark

    Show marketing remark (290 chars)

    This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

13. 2025-12-31
    price $50,974 290-char remark

    Show marketing remark (290 chars)

    This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

14. 2025-12-01
    listed $53,657 Active 290-char remark

    Show marketing remark (290 chars)

    This is a 2-story single family home built in 1923 with 4 bedrooms and 2 baths. There is a full unfinished basement and forced air gas heating. Outside there is a detached 432 SF garage, a carport and a patio. THIS IS AN AUCTION PROPERTY! All bids must be submitted online @ www. mynextbid.

ⓘ 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: $1,256 · $105/mo
• Projected year-2 tax: $1,256 · $105/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 3/10 Moderate
• 🌡 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: $13,913
• − Mortgage interest: −$2,254
• − Property taxes: −$1,256
• − Insurance: −$201
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$1,171
• Taxable income: $6,805
• Est. tax owed @ 24.0%: −$1,633
• After-tax cash flow: $5,369/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: Eldora-New Providence Community School District
• NCES district ID: 1910690
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,655
• Composite: 53.42/100
• National rank: #1470
• State rank: #217 of 289 in IA

Livability — Eldora

• Score: 71/100
• State rank: #336
• US rank: #6849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eldora, IA
• City population: 3,431
• Population (ZIP): 3,431

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Vietnam
• Languages at home: 95% English-only · Vietnamese 1% Arabic 1% Spanish 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.92%
• Current HPI: 155.9198
• 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

-20.0% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $42,925 NEIRBR as distributed by MLS GRID
• 2026-03-23 Price Changed $45,608 NEIRBR as distributed by MLS GRID
• 2026-02-20 Price Changed $48,291 NEIRBR as distributed by MLS GRID
• 2025-12-31 Price Changed $50,974 NEIRBR as distributed by MLS GRID
• 2025-12-01 Listed $53,657 NEIRBR as distributed by MLS GRID

Property tax history

+1.2%/yr

Latest (2025): $1,256 · +8.3% YoY. Source: county tax records.