903 6th Ave · Fort Dodge, IA 50501

$42,500

5 bd · 1.5 ba · 1,768 sqft · SingleFamily public records · 32 Days on market

Built 1914

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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 +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 2-bath home offers a functional layout and a great opportunity for buyers ready to add their personal touch. With solid potential and a versatile floor plan, its ideal for those looking to customize their space and build equity over time. Whether you're a first time buyer or someone looking to create your dream home through updates, this property offers the chance to make it your own and invest in long term value. Please contact Diana Pina [phone] All information obtained from seller and public record.

Key facts

• Built 1914
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#348 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities D-.
• Fort Dodge Community School District (town): math 44% / reading 53% proficiency, ranked #285 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 25 units permitted in Webster County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Webster 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $41,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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. 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. 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?
7. 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.
8. 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.
9. 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: 3.36% ✓
• Cap rate: 28.21%
• Cash-on-cash: 78.26%
• DSCR: 4.48
• GRM: 2.5

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: 78.4%
• Equity multiple: 4.58×
• Total profit: $42,599
• Equity at exit: $6,337

10-year hold

• IRR: 81.9%
• Equity multiple: 9.49×
• Total profit: $100,974
• Equity at exit: $3,675

Cash invested: $11,900 (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 50501

• Home prices YoY: -33.1%
• Active inventory: 36
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,428 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$112 /mo · $1,338/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $776

Break-even live

Break-even rent $446

Max offer price $42,500

Occupancy floor 41%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-17
   status Pending
2. 2026-02-12
   listed $42,500 Active
3. 2023-08-10
   soldstatus $30,000

ⓘ 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: $1,338 · $112/mo
• Projected year-2 tax: $1,338 · $112/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 2/10 Low 7 d/yr ≥102°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: $17,136
• − Mortgage interest: −$2,381
• − Property taxes: −$1,338
• − Insurance: −$212
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$1,236
• Taxable income: $9,227
• Est. tax owed @ 24.0%: −$2,215
• After-tax cash flow: $7,098/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: Fort Dodge Community School District
• NCES district ID: 1911820
• Math proficiency: 44% ▼ -3.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $39,807
• Composite: 40.54/100
• National rank: #3700
• State rank: #285 of 289 in IA

Livability — Fort Dodge

• Score: 71/100
• State rank: #348
• US rank: #7116

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Dodge, IA
• County: Webster County · 28,823 people
• City population: 28,823
• Metro: Fort Dodge, IA
• Population (ZIP): 28,823
• Household income: $66,888
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 673.0

Population outlook (Webster County) Hauer SSP2

• Today (2025): 35,895 people
• By 2030: 35,334 · -1.6%
• By 2040: 34,073 · -5.1%
• By 2050: 33,264 · -7.3%
• By 2075: 32,560 · -9.3%
• By 2100: 30,786 · -14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Slovak 2% Iranian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% French/Haitian/Cajun 0%

Political lean MEDSL · Webster

• 2024 margin: Solid R (+31.2) · D 33.8% · R 65.0% · Other 1.3%
• 2008→2024 swing: -39.7pp toward R · 2008: 8.5pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+24.3 2016: R+21.8 2012: D+5.5 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.63%
• Current HPI: 193.5846
• Rent YoY: —
• Metro: Fort Dodge, IA
• 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

+41.7% since first listed

3 events — show timeline

• 2026-03-17 Pending — DMMLS
• 2026-02-12 Listed $42,500 DMMLS
• 2023-08-10 Sold (Public Records) $30,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,338 · +5.2% YoY. Source: county tax records.