202 Y St · Dunlap, IA 51529

$70,000

4 bd · 1.5 ba · 1,560 sqft · SingleFamily public records · 76 Days on market

Built 1919 $45/sqft · 37% below area Est $111k · 37% under ↓ 10% since listing

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.7/10.0
• Schools +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into timeless character in this well-loved home with only two owners and a rich family history. The moment you enter, you'll appreciate the original woodwork, hardwood floors, and classic built-ins that give this home its undeniable charm. The home offers 5 bedrooms, including a main-floor bedroom, plus 4 additional bedrooms upstairs. The full basement provides excellent storage and even features the original fruit cellar, a rare and nostalgic bonus. Outside, you'll find a two-car detached garage and plenty of space to enjoy outdoor living. This is a special opportunity to own a home filled with character, craftsmanship, and generations of memories—ready for its next chapter. CASH or CONVENTIONAL Loan only. Home is priced with paint & roof updates in mind.

Key facts

• Classic built-ins
• Full basement
• Original woodwork

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• CLASSIC BUILT-INS
• FULL BASEMENT
• ORIGINAL FRUIT CELLAR
• TWO-CAR DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#246 in IA, #4,732 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Boyer Valley Community School District (rural): math 67% / reading 62% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 41 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($484 loan paydown + $4k appreciation (5.4% local appreciation)).
• Harrison County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $55k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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 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 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: 1.88% ✓
• Cap rate: 15.14%
• Cash-on-cash: 31.59%
• DSCR: 2.41
• GRM: 4.4

CMA / ARV

• ARV (median comp): $110,902
• List price: $70,000
• Delta: -36.88%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 S Eleventh St	0.49mi	3/2.0 (-1)	1,333 (-15%)	6mo	$135,000	$101	41
1105 Iowa Ave	0.57mi	3/2.0 (-1)	1,624 (+4%)	24mo	$120,000	$74	40

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

Projected returns pro-forma

5.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 3.58×
• Total profit: $50,485
• Equity at exit: $41,210

10-year hold

• IRR: 39.0%
• Equity multiple: 7.31×
• Total profit: $123,654
• Equity at exit: $72,431

Cash invested: $19,600 (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 51529

• Home prices YoY: 2.8%
• Active inventory: 6
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,313 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $516

Break-even live

Break-even rent $660

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $556	-5% $536	+0% $516	+5% $496	+10% $476
Rent	-10% $412	-5% $464	+0% $516	+5% $568	+10% $620
Rate	-1.0pp $551	-0.5pp $534	base $516	+0.5pp $498	+1.0pp $479

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $70,000 Active 76 DOM
2. 2026-06-21
   days on market $70,000 Active 75 DOM
3. 2026-06-18
   days on market $70,000 Active 73 DOM
4. 2026-06-17
   days on market $70,000 Active 72 DOM
5. 2026-06-16
   days on market $70,000 Active 71 DOM
6. 2026-06-15
   days on market $70,000 Active 70 DOM
7. 2026-06-13
   days on market $70,000 Active 68 DOM
8. 2026-06-12
   days on market $70,000 Active 67 DOM
9. 2026-06-09
   days on market $70,000 Active 64 DOM
10. 2026-06-08
    days on market $70,000 Active 63 DOM
11. 2026-06-07
    days on market $70,000 Active 62 DOM
12. 2026-06-05
    days on market $70,000 Active 60 DOM
13. 2026-06-04
    days on market $70,000 Active 58 DOM
14. 2026-06-02
    days on market $70,000 Active 57 DOM
15. 2026-06-01
    days on market $70,000 Active 56 DOM
16. 2026-05-31
    days on market $70,000 Active 55 DOM
17. 2026-05-31
    days on market $70,000 Active 54 DOM
18. 2026-04-06
    listed $70,000 Active 783-char remark

    Show marketing remark (779 chars)

    Step into timeless character in this well-loved home with only two owners and a rich family history. The moment you enter, you'll appreciate the original woodwork, hardwood floors, and classic built-ins that give this home its undeniable charm. The home offers 5 bedrooms, including a main-floor bedroom , plus 4 additional bedrooms upstairs. The full basement provides excellent storage and even features the original fruit cellar, a rare and nostalgic bonus. Outside, you'll find a two-car detached garage and plenty of space to enjoy outdoor living. This is a special opportunity to own a home filled with character, craftsmanship, and generations of memories--ready for its next chapter. CASH or CONVENTIONAL Loan only. Home is priced with paint & roof updates in mind.

19. 2026-04-06
    listed $70,000 Active 779-char remark

    Show marketing remark (779 chars)

    Step into timeless character in this well-loved home with only two owners and a rich family history. The moment you enter, you'll appreciate the original woodwork, hardwood floors, and classic built-ins that give this home its undeniable charm. The home offers 5 bedrooms, including a main-floor bedroom , plus 4 additional bedrooms upstairs. The full basement provides excellent storage and even features the original fruit cellar, a rare and nostalgic bonus. Outside, you'll find a two-car detached garage and plenty of space to enjoy outdoor living. This is a special opportunity to own a home filled with character, craftsmanship, and generations of memories--ready for its next chapter. CASH or CONVENTIONAL Loan only. Home is priced with paint & roof updates in mind.

20. 2026-01-28
    status Pending
21. 2026-01-14
    price $70,000
22. 2026-01-14
    price $70,000
23. 2026-01-07
    price $74,000
24. 2026-01-07
    price $74,000
25. 2025-12-24
    price $77,000
26. 2025-12-18
    price $77,000
27. 2025-12-09
    listed $82,000 Active
28. 2025-12-09
    listed $82,000 Active
29. 2016-02-22
    soldstatus $55,100
30. 2010-06-01
    historical
31. 2010-03-18
    listed $72,000
32. 2010-03-15
    historical
33. 2009-09-14
    listed $78,000

ⓘ 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: $1,500 · $125/mo
• Projected year-2 tax: $1,500 · $125/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $15,754
• − Mortgage interest: −$3,921
• − Property taxes: −$1,500
• − Insurance: −$350
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$2,036
• Taxable income: $5,426
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $4,889/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: Boyer Valley Community School District
• NCES district ID: 1909570
• Math proficiency: 67% ▼ -5.00%
• Reading proficiency: 62% ▼ -10.00%
• Median HH income: $46,628
• Composite: 54.51/100
• National rank: #1346
• State rank: #205 of 289 in IA

Livability — Dunlap

• Score: 74/100
• State rank: #246
• US rank: #4732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunlap, IA
• Population (ZIP): 2,026

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 13,193 people
• By 2030: 12,519 · -5.1%
• By 2040: 11,134 · -15.6%
• By 2050: 9,749 · -26.1%
• By 2075: 7,254 · -45.0%
• By 2100: 5,298 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 1% Black 1% Hispanic / Latino 1%
• Common ancestry: Portuguese 5% Iranian 3% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -37.2pp toward R · 2008: -4.7pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.4 2016: R+37.5 2012: R+12.7 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.36%
• Current HPI: 197.8202
• 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

-10.3% since first listed

16 events — show timeline

• 2026-04-06 Listed $70,000 IAR
• 2026-04-06 Listed $70,000 SWIAR
• 2026-01-28 Pending — SWIAR
• 2026-01-14 Price Changed $70,000 IAR
• 2026-01-14 Price Changed $70,000 SWIAR
• 2026-01-07 Price Changed $74,000 IAR
• 2026-01-07 Price Changed $74,000 SWIAR
• 2025-12-24 Price Changed $77,000 IAR
• 2025-12-18 Price Changed $77,000 SWIAR
• 2025-12-09 Listed $82,000 IAR
• 2025-12-09 Listed $82,000 SWIAR
• 2016-02-22 Sold (Public Records) $55,100 Public Records
• 2010-06-01 Listing Removed — GPRMLS
• 2010-03-18 Listed $72,000 GPRMLS
• 2010-03-15 Listing Removed — GPRMLS
• 2009-09-14 Listed $78,000 GPRMLS

Property tax history

+5.1%/yr

Latest (2025): $1,500 · +4.3% YoY. Source: county tax records.