23186 207th Ave · Sigourney, IA 52591

$197,500

5 bd · 1.5 ba · 2,006 sqft · SingleFamily public records · 15 Days on market

Built 1978 10,019 sqft lot Est $191k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• Schools +6.1/10.0
• ARV discount +5.9/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.4/10.0

Listing remarks MLS

Beautiful, ranch style home on spacious lot! Many updates including roof, windows, furnace, central air unit, flooring, bathroom remodel, and interior paint. The main level of the home features 3 bedrooms, 1 full bathroom, kitchen, dining room, and living room. The finished lower level features an open concept family room with gorgeous stone fireplace (wood burning), 2 non-conforming bedrooms (or bonus rooms), and 3/4 bathroom/laundry area. Laundry could easily be moved to main level if desired. Step onto the covered patio that overlooks the beautiful backyard, featuring a large storage shed (8x12) and firepit area. Attached 2 car garage. Includes refrigerator, stove, & dishwasher. Washer & dryer are negotiable. Schedule a showing today to see all what this home has to offer!

Key facts

• Large windows
• Pantry
• Patio doors

Tags

• OPEN DINING LIVING SPACE
• LARGE WINDOWS
• PATIO DOORS
• GALLEY KITCHEN
• PANTRY
• BACK PATIO

Property features AI

Finance

• HOA & community: Association fee billed annually; No community amenities listed

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Frame construction
• Exterior features: Patio; Lot approximately 0.23 acres (80' x 125'); Residential zoning

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Wood-burning fireplace in the family room; Full basement with concrete floor
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (36.3% below list).
• Recommended offer: $126k (36.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#108 in IA, #2,086 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sigourney Community School District (rural): math 76% / reading 68% proficiency, ranked #122 of 289 in IA (top 42%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Sigourney Elementary (math 82% / reading 57%, grade A-, #224 of 616 statewide, top 42%, 323 students, 39% FRL); Sigourney Jr-Sr High Sch (math 72% / reading 75%, grade B+, #108 of 336 statewide, top 33%, 270 students, 34% FRL).
• Market conditions: 25 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Keokuk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $132k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $125,733 (36.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.64% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $190,570
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 Mackey Ave	0.42mi	4/2.0 (-1)	1,800 (-10%)	11mo	$210,000	$117	47
500 S Main St	0.67mi	5/2.0	2,236 (+12%)	11mo	$212,500	$95	38
621 W Pleasant Valley St	0.73mi	4/2.0 (-1)	2,267 (+13%)	22mo	$113,500	$50	18

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $90,352
• Equity at exit: $177,924

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $279,487
• Equity at exit: $383,699

Cash invested: $55,300 (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 52591

• Home prices YoY: 22.5%
• Active inventory: 25
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$1,036
• Tax from tax record: −$145 /mo · $1,738/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-270

Break-even live

Break-even rent $1,599

Max offer price $149,884

Occupancy floor —

Sensitivity live

Price	-10% $-158	-5% $-214	+0% $-270	+5% $-325	+10% $-381
Rent	-10% $-369	-5% $-319	+0% $-270	+5% $-220	+10% $-170
Rate	-1.0pp $-170	-0.5pp $-219	base $-270	+0.5pp $-321	+1.0pp $-373

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $197,500 Active 15 DOM
2. 2026-06-21
   days on market $197,500 Active 14 DOM
3. 2026-06-18
   days on market $197,500 Active 12 DOM
4. 2026-06-17
   days on market $197,500 Active 11 DOM
5. 2026-06-17
   price $197,500 Active 10 DOM
6. 2026-06-16
   days on market $205,000 Active 10 DOM
7. 2026-06-15
   days on market $205,000 Active 9 DOM
8. 2026-06-13
   days on market $205,000 Active 7 DOM
9. 2026-06-12
   days on market $205,000 Active 6 DOM
10. 2026-06-09
    days on market $205,000 Active 3 DOM
11. 2026-06-08
    days on market $205,000 Active 2 DOM
12. 2026-06-07
    remarks 675-char remark
13. 2026-06-07
    listed $205,000 Active 1 DOM

ⓘ 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: $1,738 · $145/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$681/yr (+$57/mo · 39.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $15,088
• − Mortgage interest: −$11,063
• − Property taxes: −$1,738
• − Insurance: −$988
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$5,745
• Taxable loss: −$6,860
• Est. tax savings @ 24.0%: +$1,646
• After-tax cash flow: $-1,588/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: Sigourney Community School District
• NCES district ID: 1926280
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $44,250
• Composite: 60.52/100
• National rank: #840
• State rank: #122 of 289 in IA

Livability — Sigourney

• Score: 79/100
• State rank: #108
• US rank: #2086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,646

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 (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 3% English 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4%

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: ▲ 47.08%
• Current HPI: 256.0682
• 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

+113.5% since first listed

6 events — show timeline

• 2026-06-06 Listed $205,000 ICAARMLS
• 2020-08-21 Sold (MLS) $132,500 IAR
• 2020-08-18 Sold (Public Records) $132,500 Public Records
• 2020-07-01 Listed $134,000 IAR
• 2015-07-06 Sold (Public Records) $100,000 Public Records
• 2006-09-22 Sold (Public Records) $96,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,738 · -2.4% YoY. Source: county tax records.