501 1st St SE · Hartley, IA 51346

$105,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 84 Days on market

Built 1910 0.29 ac lot $89/sqft · at area comps Est $106k · at est.

---

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 +20.3/30.0
• ARV discount +7.9/15.0
• DSCR +6.4/10.0
• Schools +6.1/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a well-cared-for Craftsman home located on a beautiful street in a great neighborhood! This 3 bedroom, 1 bathroom home features an inviting sunporch, updated kitchen, stunning original woodwork, and natural hardwood floors throughout. Many electrical and plumbing updates have already been completed, making this charming home move-in ready and easy to enjoy.

Key facts

• Plumbing updates
• Sunporch
• Electrical updates

Tags

• SUNPORCH
• UPDATED KITCHEN
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• ELECTRICAL UPDATES
• PLUMBING UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (3.5% below list).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#177 in IA, #3,188 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Hartley-Melvin-Sanborn Community School District (rural): math 72% / reading 73% proficiency, ranked #111 of 289 in IA (top 38%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 13 active listings in the ZIP; 13 units permitted in O'Brien County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• O'Brien County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $105k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1910 — 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: 0.97% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

• ARV (median comp): $106,045
• List price: $105,000
• Delta: -0.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 N 1st Ave E	0.31mi	3/1.0	1,248 (+6%)	4mo	$138,000	$111	72
160 N 1st Ave W	0.43mi	3/2.0	1,140 (-3%)	9mo	$75,000	$66	64
160 N Central Ave	0.38mi	3/2.0	1,276 (+8%)	8mo	$152,000	$119	58
151 N 3rd Avenue Ave W	0.58mi	2/2.0 (-1)	1,254 (+7%)	1mo	$192,000	$153	52
50 E 1st Street St NE	0.32mi	3/2.0	1,024 (-13%)	19mo	$129,900	$127	44
432 W Maple Dr	0.64mi	2/1.0 (-1)	1,040 (-12%)	5mo	$100,500	$97	42
420 N 3rd Ave W	0.65mi	4/2.0 (+1)	1,264 (+8%)	10mo	$215,000	$170	40
410 W Maple Dr	0.60mi	3/2.5	1,028 (-13%)	11mo	$182,900	$178	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-8,493
• Equity at exit: $15,656

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $3,519
• Equity at exit: $9,078

Cash invested: $29,400 (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 51346

• Home prices YoY: -20.4%
• Active inventory: 13
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$72 /mo · $868/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $134

Break-even live

Break-even rent $844

Max offer price $105,000

Occupancy floor 82%

Sensitivity live

Price	-10% $194	-5% $164	+0% $134	+5% $104	+10% $75
Rent	-10% $54	-5% $94	+0% $134	+5% $174	+10% $214
Rate	-1.0pp $187	-0.5pp $161	base $134	+0.5pp $107	+1.0pp $79

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $105,000 Active 84 DOM
2. 2026-06-18
   days on market $105,000 Active 82 DOM
3. 2026-06-17
   days on market $105,000 Active 81 DOM
4. 2026-06-16
   days on market $105,000 Active 80 DOM
5. 2026-06-15
   days on market $105,000 Active 79 DOM
6. 2026-06-13
   days on market $105,000 Active 77 DOM
7. 2026-06-12
   days on market $105,000 Active 76 DOM
8. 2026-06-09
   days on market $105,000 Active 73 DOM
9. 2026-06-09
   price $105,000 Active 72 DOM
10. 2026-06-08
    days on market $112,000 Active 72 DOM
11. 2026-06-07
    days on market $112,000 Active 71 DOM
12. 2026-06-07
    days on market $112,000 Active 70 DOM
13. 2026-06-04
    days on market $112,000 Active 67 DOM
14. 2026-06-02
    days on market $112,000 Active 66 DOM
15. 2026-06-01
    days on market $112,000 Active 65 DOM
16. 2026-05-31
    days on market $112,000 Active 64 DOM
17. 2026-05-31
    days on market $112,000 Active 63 DOM
18. 2026-05-11
    price $124,900 367-char remark

    Show marketing remark (367 chars)

    Here is a well-cared-for Craftsman home located on a beautiful street in a great neighborhood! This 3 bedroom, 1 bathroom home features an inviting sunporch, updated kitchen, stunning original woodwork, and natural hardwood floors throughout. Many electrical and plumbing updates have already been completed, making this charming home move-in ready and easy to enjoy.

19. 2026-04-20
    price $127,900 367-char remark

    Show marketing remark (367 chars)

    Here is a well-cared-for Craftsman home located on a beautiful street in a great neighborhood! This 3 bedroom, 1 bathroom home features an inviting sunporch, updated kitchen, stunning original woodwork, and natural hardwood floors throughout. Many electrical and plumbing updates have already been completed, making this charming home move-in ready and easy to enjoy.

20. 2026-03-27
    listed $134,900 Active 367-char remark

    Show marketing remark (367 chars)

    Here is a well-cared-for Craftsman home located on a beautiful street in a great neighborhood! This 3 bedroom, 1 bathroom home features an inviting sunporch, updated kitchen, stunning original woodwork, and natural hardwood floors throughout. Many electrical and plumbing updates have already been completed, making this charming home move-in ready and easy to enjoy.

21. 2022-06-06
    soldstatus $66,500

ⓘ 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: $868 · $72/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$390/yr (+$33/mo · 45.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $12,165
• − Mortgage interest: −$5,882
• − Property taxes: −$868
• − Insurance: −$525
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$3,055
• Taxable loss: −$111
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $1,636/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: Hartley-Melvin-Sanborn Community School District
• NCES district ID: 1913660
• Math proficiency: 72% ▲ 1.00%
• Reading proficiency: 73% ▲ 4.00%
• Median HH income: $46,177
• Composite: 61.08/100
• National rank: #790
• State rank: #111 of 289 in IA

Livability — Hartley

• Score: 77/100
• State rank: #177
• US rank: #3188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartley, IA
• Population (ZIP): 2,211

Population outlook (O'Brien County) Hauer SSP2

• Today (2025): 13,353 people
• By 2030: 13,040 · -2.3%
• By 2040: 12,422 · -7.0%
• By 2050: 11,887 · -11.0%
• By 2075: 11,132 · -16.6%
• By 2100: 10,176 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 16% Portuguese 7% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 2%

Political lean MEDSL · O'Brien

• 2024 margin: Solid R (+60.9) · D 19.0% · R 80.0% · Other 1.0%
• 2008→2024 swing: -26.1pp toward R · 2008: -34.9pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+56.8 2016: R+60.2 2012: R+45.2 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.28%
• Current HPI: 160.6681
• 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

+87.8% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $124,900 Iowa Great Lakes BOR
• 2026-04-20 Price Changed $127,900 Iowa Great Lakes BOR
• 2026-03-27 Listed $134,900 Iowa Great Lakes BOR
• 2022-06-06 Sold (Public Records) $66,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $868 · +3.1% YoY. Source: county tax records.