213 Brown St · Oakland, IA 51560

$159,900

4 bd · 2.0 ba · 936 sqft · MultiFamily public records · 8 Days on market

Built 1930

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

2 Story duplex 2 Bedrooms & 2 Baths in each unit. Eat in kitchens , living rooms, Central air , Stove, Refrigerator, Washers & Dryers provided. Tenants pay all their own utilities.

Key facts

• Built 1930
• Listed 8 days

Tags

• COMPLETELY REMODELED IN 2020

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive. Per door: $323/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

Location & tenants

• Location reads 74/100 on livability (#257 in IA, #4,965 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Riverside Community School District (rural): math 66% / reading 68% proficiency, ranked #168 of 289 in IA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Riverside Elementary (188 students, 46% FRL); Riverside Community High School (math 69% / reading 73%, grade B+, #139 of 336 statewide, top 41%, 359 students, 36% FRL).
• Market conditions: 27 active listings in the ZIP; 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Pottawattamie County population projected to shrink 7% 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.33%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $15,270
• Equity at exit: $23,842

10-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $66,300
• Equity at exit: $13,825

Cash invested: $44,772 (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 51560

• Home prices YoY: -6.0%
• Active inventory: 27
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,134 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $647

Break-even live

Break-even rent $1,315

Max offer price $159,900

Occupancy floor 65%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,134
Total (2 units)			$2,134

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2024-05-20
   soldstatus $160,000
2. 2024-04-11
   status Pending
3. 2024-04-03
   listed $159,900 Active
4. 2020-05-13
   soldstatus $57,500
5. 2020-05-08
   soldstatus $57,500 192-char remark

   Show marketing remark (192 chars)

   2 Story duplex 2 Bedrooms & 2 Baths in each unit. Eat in kitchens , living rooms, Central air , Stove, Refrigerator, Washers & Dryers provided. Tenants pay all their own utilities.

6. 2020-05-08
   soldstatus $57,500

   Show marketing remark (192 chars)

   2 Story duplex 2 Bedrooms & 2 Baths in each unit. Eat in kitchens , living rooms, Central air , Stove, Refrigerator, Washers & Dryers provided. Tenants pay all their own utilities.

7. 2019-07-31
   listed $79,900 192-char remark

   Show marketing remark (192 chars)

   2 Story duplex 2 Bedrooms & 2 Baths in each unit. Eat in kitchens , living rooms, Central air , Stove, Refrigerator, Washers & Dryers provided. Tenants pay all their own utilities.

8. 2019-07-31
   listed $79,900

   Show marketing remark (192 chars)

   2 Story duplex 2 Bedrooms & 2 Baths in each unit. Eat in kitchens , living rooms, Central air , Stove, Refrigerator, Washers & Dryers provided. Tenants pay all their own utilities.

9. 2018-08-13
   listed $85,000

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $2,059 · $172/mo
• Expected delta: +$451/yr (+$38/mo · 28.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°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: $25,608
• − Mortgage interest: −$8,957
• − Property taxes: −$1,608
• − Insurance: −$800
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − Depreciation: −$4,652
• Taxable income: $5,495
• Est. tax owed @ 24.0%: −$1,319
• After-tax cash flow: $6,442/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: Riverside Community School District
• NCES district ID: 1900027
• Math proficiency: 66% ▼ -7.00%
• Reading proficiency: 68% ▼ -5.00%
• Median HH income: $59,153
• Composite: 57.75/100
• National rank: #1053
• State rank: #168 of 289 in IA

Livability — Oakland

• Score: 74/100
• State rank: #257
• US rank: #4965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, IA
• City population: 1,902
• Population (ZIP): 1,902

Population outlook (Pottawattamie County) Hauer SSP2

• Today (2025): 93,683 people
• By 2030: 92,772 · -1.0%
• By 2040: 89,917 · -4.0%
• By 2050: 86,994 · -7.1%
• By 2075: 82,756 · -11.7%
• By 2100: 79,097 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 11% Hispanic / Latino 10% Pacific Islander 3%
• Hispanic origin (detail): Mexican 6% Cuban 3%
• Common ancestry: Portuguese 2% Serbian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 6% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Pottawattamie

• 2024 margin: R (+20.0) · D 39.3% · R 59.3% · Other 1.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -1.9pp · 2024: -20.0pp
• All cycles: 2024: R+20.0 2020: R+16.8 2016: R+21.6 2012: R+5.8 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.80%
• Current HPI: 246.387
• 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

+88.2% since first listed

9 events — show timeline

• 2024-05-20 Sold (Public Records) $160,000 Public Records
• 2024-04-11 Pending — SWIAR
• 2024-04-03 Listed $159,900 SWIAR
• 2020-05-13 Sold (Public Records) $57,500 Public Records
• 2020-05-08 Sold (MLS) $57,500 SWIAR
• 2020-05-08 Sold (MLS) $57,500 SWIAR
• 2019-07-31 Listed $79,900 SWIAR
• 2019-07-31 Listed $79,900 SWIAR
• 2018-08-13 Listed $85,000 SWIAR

Property tax history

-0.6%/yr

Latest (2025): $1,608 · +1.6% YoY. Source: county tax records.