311 Hansen Ave · Palmer, IA 50571

$48,500

2 bd · 1.0 ba · 979 sqft · Other · 304 Days on market

Built 1904 0.28 ac lot $50/sqft · 221% above area

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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
• Appreciation +7.3/10.0
• Schools +5.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

What a deal - great price improvement! Also - USDA Rural Development eligible, FHA eligible, and VA eligible as well! Welcome to peaceful small-town living! Located on the edge of town, this cozy home offers a unique blend of functionality and charm on two spacious lots—perfect for gardening, outdoor activities, or simply enjoying the open space. The property features a detached single-car garage, low-maintenance vinyl siding, and a durable steel roof for added peace of mind. Inside, you’ll find a comfortable layout with one small main floor bedroom and a spacious upstairs bedroom that offers privacy and flexibility. The eat-in kitchen comes fully equipped with all appliances included, making move-in a breeze. Multiple heating options are available, including a ventless propane heater, wood stove, and a forced air furnace (not currently in use, but was operational prior). The propane tank and water softener are both rented. A whole-house water filter is also installed for added convenience. Workbench in the basement for all of those DIY projects you have in mind! Easy access to surrounding communities; 10-12 minutes to Pomeroy, Manson, and Pocahontas; 35-40 minutes to Storm Lake; and about 30 minutes to Fort Dodge this location makes for a convenient home base—or a fantastic investment opportunity for rental income or a short-term getaway spot. Whether you're looking for a quiet retreat or a place to slow down and enjoy life at a different pace, this home is a great opportunity to put down roots in a small Iowa community.

Key facts

• Durable steel roof
• 0.28 acre lot
• Garage

Tags

• DETACHED SINGLE-CAR GARAGE
• LOW-MAINTENANCE VINYL SIDING
• DURABLE STEEL ROOF
• WHOLE-HOUSE WATER FILTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $48k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $48k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#824 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, employment C-, schools F.
• Pocahontas Area Community School District (rural): math 67% / reading 71% proficiency, ranked #166 of 289 in IA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 1 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($335 loan paydown + $2k appreciation (4.6% local appreciation)).
• At projected returns (4.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 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 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.73% ✓
• Cap rate: 15.67%
• Cash-on-cash: 33.48%
• DSCR: 2.49
• GRM: 4.8

CMA / ARV

• ARV (median comp): $15,085
• List price: $48,500
• Delta: 221.51%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

4.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.8%
• Equity multiple: 3.52×
• Total profit: $34,247
• Equity at exit: $26,373

10-year hold

• IRR: 40.1%
• Equity multiple: 7.12×
• Total profit: $83,154
• Equity at exit: $44,624

Cash invested: $13,580 (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 50571

• Home prices YoY: 3.9%
• Active inventory: 1
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $838 medium
• Mortgage (P&I): −$254
• Tax from tax record: −$9 /mo · $105/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $379

Break-even live

Break-even rent $359

Max offer price $48,500

Occupancy floor 50%

Sensitivity live

Price	-10% $406	-5% $393	+0% $379	+5% $365	+10% $294
Rent	-10% $313	-5% $346	+0% $379	+5% $412	+10% $445
Rate	-1.0pp $403	-0.5pp $391	base $379	+0.5pp $366	+1.0pp $354

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $48,500 Active 304 DOM
2. 2026-06-18
   days on market $48,500 Active 302 DOM
3. 2026-06-17
   days on market $48,500 Active 301 DOM
4. 2026-06-16
   days on market $48,500 Active 300 DOM
5. 2026-06-15
   days on market $48,500 Active 299 DOM
6. 2026-06-13
   days on market $48,500 Active 297 DOM
7. 2026-06-12
   days on market $48,500 Active 296 DOM
8. 2026-06-09
   days on market $48,500 Active 293 DOM
9. 2026-06-08
   days on market $48,500 Active 292 DOM
10. 2026-06-07
    days on market $48,500 Active 291 DOM
11. 2026-06-07
    days on market $48,500 Active 290 DOM
12. 2026-06-04
    days on market $48,500 Active 287 DOM
13. 2026-06-02
    days on market $48,500 Active 286 DOM
14. 2026-06-01
    days on market $48,500 Active 285 DOM
15. 2026-05-31
    days on market $48,500 Active 284 DOM
16. 2026-05-31
    days on market $48,500 Active 283 DOM
17. 2026-03-31
    price $48,500 1565-char remark

    Show marketing remark (1565 chars)

    What a deal - great price improvement! Also - USDA Rural Development eligible, FHA eligible, and VA eligible as well! Welcome to peaceful small-town living! Located on the edge of town, this cozy home offers a unique blend of functionality and charm on two spacious lots—perfect for gardening, outdoor activities, or simply enjoying the open space. The property features a detached single-car garage, low-maintenance vinyl siding, and a durable steel roof for added peace of mind. Inside, you’ll find a comfortable layout with one small main floor bedroom and a spacious upstairs bedroom that offers privacy and flexibility. The eat-in kitchen comes fully equipped with all appliances included, making move-in a breeze. Multiple heating options are available, including a ventless propane heater, wood stove, and a forced air furnace (not currently in use, but was operational prior). The propane tank and water softener are both rented. A whole-house water filter is also installed for added convenience. Workbench in the basement for all of those DIY projects you have in mind! Easy access to surrounding communities; 10-12 minutes to Pomeroy, Manson, and Pocahontas; 35-40 minutes to Storm Lake; and about 30 minutes to Fort Dodge this location makes for a convenient home base—or a fantastic investment opportunity for rental income or a short-term getaway spot. Whether you're looking for a quiet retreat or a place to slow down and enjoy life at a different pace, this home is a great opportunity to put down roots in a small Iowa community.

18. 2026-01-15
    price $64,900 1565-char remark

    Show marketing remark (1565 chars)

    What a deal - great price improvement! Also - USDA Rural Development eligible, FHA eligible, and VA eligible as well! Welcome to peaceful small-town living! Located on the edge of town, this cozy home offers a unique blend of functionality and charm on two spacious lots—perfect for gardening, outdoor activities, or simply enjoying the open space. The property features a detached single-car garage, low-maintenance vinyl siding, and a durable steel roof for added peace of mind. Inside, you’ll find a comfortable layout with one small main floor bedroom and a spacious upstairs bedroom that offers privacy and flexibility. The eat-in kitchen comes fully equipped with all appliances included, making move-in a breeze. Multiple heating options are available, including a ventless propane heater, wood stove, and a forced air furnace (not currently in use, but was operational prior). The propane tank and water softener are both rented. A whole-house water filter is also installed for added convenience. Workbench in the basement for all of those DIY projects you have in mind! Easy access to surrounding communities; 10-12 minutes to Pomeroy, Manson, and Pocahontas; 35-40 minutes to Storm Lake; and about 30 minutes to Fort Dodge this location makes for a convenient home base—or a fantastic investment opportunity for rental income or a short-term getaway spot. Whether you're looking for a quiet retreat or a place to slow down and enjoy life at a different pace, this home is a great opportunity to put down roots in a small Iowa community.

19. 2025-08-18
    listed $67,900 Active 1565-char remark

    Show marketing remark (1565 chars)

    What a deal - great price improvement! Also - USDA Rural Development eligible, FHA eligible, and VA eligible as well! Welcome to peaceful small-town living! Located on the edge of town, this cozy home offers a unique blend of functionality and charm on two spacious lots—perfect for gardening, outdoor activities, or simply enjoying the open space. The property features a detached single-car garage, low-maintenance vinyl siding, and a durable steel roof for added peace of mind. Inside, you’ll find a comfortable layout with one small main floor bedroom and a spacious upstairs bedroom that offers privacy and flexibility. The eat-in kitchen comes fully equipped with all appliances included, making move-in a breeze. Multiple heating options are available, including a ventless propane heater, wood stove, and a forced air furnace (not currently in use, but was operational prior). The propane tank and water softener are both rented. A whole-house water filter is also installed for added convenience. Workbench in the basement for all of those DIY projects you have in mind! Easy access to surrounding communities; 10-12 minutes to Pomeroy, Manson, and Pocahontas; 35-40 minutes to Storm Lake; and about 30 minutes to Fort Dodge this location makes for a convenient home base—or a fantastic investment opportunity for rental income or a short-term getaway spot. Whether you're looking for a quiet retreat or a place to slow down and enjoy life at a different pace, this home is a great opportunity to put down roots in a small Iowa community.

20. 2022-11-14
    soldstatus $40,000
21. 2019-09-23
    soldstatus $30,000
22. 2016-05-23
    soldstatus $19,000

ⓘ 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: $105 · $9/mo
• Projected year-2 tax: $433 · $36/mo
• Expected delta: +$328/yr (+$27/mo · 310.9%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 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: $10,059
• − Mortgage interest: −$2,717
• − Property taxes: −$105
• − Insurance: −$242
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$1,411
• Taxable income: $3,974
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $3,593/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: Pocahontas Area Community School District
• NCES district ID: 1923190
• Math proficiency: 67% ▼ -8.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $44,481
• Composite: 58.0/100
• National rank: #1036
• State rank: #166 of 289 in IA

Livability — Palmer

• Score: 60/100
• State rank: #824
• US rank: #18967

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmer, IA
• Population (ZIP): 260

Population outlook (Pocahontas County) Hauer SSP2

• Today (2025): 6,624 people
• By 2030: 6,482 · -2.1%
• By 2040: 6,359 · -4.0%
• By 2050: 6,439 · -2.8%
• By 2075: 7,397 · +11.7%
• By 2100: 8,428 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 2% Italian 2% Iranian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pocahontas

• 2024 margin: Solid R (+54.0) · D 22.3% · R 76.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: -8.4pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+49.5 2016: R+45.2 2012: R+21.8 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.62%
• Current HPI: 122.6326
• 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

+155.3% since first listed

6 events — show timeline

• 2026-03-31 Price Changed $48,500 NWIA
• 2026-01-15 Price Changed $64,900 NWIA
• 2025-08-18 Listed $67,900 NWIA
• 2022-11-14 Sold (Public Records) $40,000 Public Records
• 2019-09-23 Sold (Public Records) $30,000 Public Records
• 2016-05-23 Sold (Public Records) $19,000 Public Records

Property tax history

+26.4%/yr

Latest (2025): $105 · +7.1% YoY. Source: county tax records.