306 N Richland St · Richland, IA 52585

$125,000

5 bd · 2.0 ba · 2,350 sqft · SingleFamily public records

Built 1897 0.40 ac lot

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Why this score? — see what drove the C+ 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 +22.6/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +6.1/10.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious and versatile, this 5-bedroom, 2-bathroom home offers approximately 2,350 square feet of finished living space in the heart of Richland. With a functional layout and generous room sizes, this property provides plenty of space for growing households, multi-generational living, or those needing extra rooms for a home office or hobbies. The main level features comfortable living areas filled with natural light, while the additional bedrooms allow for flexibility to meet your lifestyle needs. A large 780 sq ft garage offers ample room for vehicles, storage, and workspace—perfect for projects or outdoor equipment. Situated on a well-located lot with easy access to local amenities,

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1897

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 63/100 on livability (#650 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Pekin Community School District (rural): math 71% / reading 73% proficiency, ranked #121 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Pekin Elementary School (math 77% / reading 77%, grade A, #103 of 616 statewide, top 20%, 350 students, 32% FRL); Pekin Community Junior/ Senior High School (math 65% / reading 69%, grade B, #192 of 336 statewide, top 59%, 292 students, 29% FRL).
• Market conditions: 6 active listings in the ZIP; 1 units permitted in Keokuk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.9% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $54k; list at $125k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1897 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.41×
• Total profit: $49,206
• Equity at exit: $78,061

10-year hold

• IRR: 20.4%
• Equity multiple: 4.83×
• Total profit: $134,179
• Equity at exit: $141,113

Cash invested: $35,000 (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 52585

• Home prices YoY: 4.0%
• Active inventory: 6
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $214

Break-even live

Break-even rent $1,028

Max offer price $125,000

Occupancy floor 79%

Sensitivity live

Price	-10% $285	-5% $249	+0% $214	+5% $178	+10% $143
Rent	-10% $111	-5% $163	+0% $214	+5% $265	+10% $316
Rate	-1.0pp $277	-0.5pp $246	base $214	+0.5pp $181	+1.0pp $148

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-01-08
   listed $125,000
2. 2026-01-08
   historical
3. 2007-10-16
   soldstatus $54,000

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,606 · $134/mo
• Expected delta: +$356/yr (+$30/mo · 28.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,578
• − Mortgage interest: −$7,002
• − Property taxes: −$1,250
• − Insurance: −$625
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$3,636
• Taxable income: $572
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $2,428/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: Pekin Community School District
• NCES district ID: 1922440
• Math proficiency: 71% ▼ -3.00%
• Reading proficiency: 73% ▲ 7.00%
• Median HH income: $44,890
• Composite: 60.54/100
• National rank: #838
• State rank: #121 of 289 in IA

Livability — Richland

• Score: 63/100
• State rank: #650
• US rank: #14950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland, IA
• City population: 849
• Population (ZIP): 849

Population outlook (Keokuk County) Hauer SSP2

• Today (2025): 9,354 people
• By 2030: 8,885 · -5.0%
• By 2040: 7,956 · -14.9%
• By 2050: 7,123 · -23.9%
• By 2075: 5,777 · -38.2%
• By 2100: 4,808 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Italian 8% Romanian 4% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Chinese 1% Arabic 0%

Political lean MEDSL · Keokuk

• 2024 margin: Solid R (+51.5) · D 23.7% · R 75.2% · Other 1.1%
• 2008→2024 swing: -47.9pp toward R · 2008: -3.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.9 2016: R+43.6 2012: R+10.4 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 154.3869
• 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

+131.5% since first listed

3 events — show timeline

• 2026-01-08 Listing Removed — DMMLS
• 2026-01-08 Listed $125,000 DMMLS
• 2007-10-16 Sold (Public Records) $54,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,250 · +3.1% YoY. Source: county tax records.