827 NE 1st Ave · Oelwein, IA 50662

$59,900

2 bd · 2.0 ba · 1,399 sqft · SingleFamily public records · 28 Days on market

Built 1943 7,000 sqft lot $43/sqft · 51% below area Est $95k · 37% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This affordable and quaint house is just waiting for you to make it your own. Character abounds this 2 bedroom 1 1/2 bath home with large rear yard and tuck under garage. A must see. Priced to sell. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today.

Key facts

• 7,000 sq ft lot
• Parking
• Built 1943

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $-7 ($-82/yr) — negative.
• To cash-flow at today's rent, offer at most $59k (2.0% below list).
• Meets the 1% rule at list price ($650 rent vs $60k).
• Recommended offer: $59k (2.0% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 4.5% in Oelwein — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#186 in IA, #3,329 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Oelwein Community School District (town): math 47% / reading 55% proficiency, ranked #281 of 289 in IA (top 97%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fayette County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $19k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,697 (2.0% 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 1943 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 7.7

CMA / ARV

• ARV (median comp): $95,425
• List price: $59,900
• Delta: -37.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 NE 1st Ave	0.06mi	3/1.0 (+1)	1,374 (-2%)	12mo	$65,000	$47	76
811 NE 1st Ave	0.04mi	3/1.0 (+1)	1,262 (-10%)	6mo	$45,000	$36	68
304 NE Lincoln Dr	0.24mi	3/1.5 (+1)	1,380 (-1%)	14mo	$120,000	$87	68
819 NE 1st Ave	0.02mi	3/1.0 (+1)	1,337 (-4%)	18mo	$49,000	$37	68
830 NE 2nd Ave	0.04mi	3/1.0 (+1)	1,260 (-10%)	9mo	$113,000	$90	65
32 6th St. St NW	0.23mi	3/2.0 (+1)	1,256 (-10%)	4mo	$118,000	$94	63
413 4th Ave Ave NE	0.33mi	3/1.0 (+1)	1,306 (-7%)	2mo	$175,000	$134	63
410 1st Ave Ave NW	0.36mi	3/1.5 (+1)	1,509 (+8%)	6mo	$70,150	$46	58
715 6th St St NE	0.42mi	3/1.5 (+1)	1,520 (+9%)	10mo	$170,000	$112	51
514 NW 5th Ave	0.54mi	3/1.5 (+1)	1,260 (-10%)	4mo	$87,000	$69	48
205 NE 4th Ave	0.48mi	3/1.0 (+1)	1,192 (-15%)	0mo	$59,900	$50	43
20 4th Ave Ave SE	0.72mi	2/2.0	1,259 (-10%)	13mo	$111,550	$89	39

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-10,065
• Equity at exit: $8,931

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-9,017
• Equity at exit: $5,179

Cash invested: $16,772 (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 50662

• Home prices YoY: -21.7%
• Active inventory: 60
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $650 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$181 /mo · $2,175/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$136
• Net cashflow: $-7

Break-even live

Break-even rent $659

Max offer price $58,697

Occupancy floor 96%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 N Frederick Ave Apt 1 Oelwein, IA	2.0	1.0	1125	$650	$0.58	43d	1	0.63mi

Listing history 24 events

1. 2026-06-18
   days on market $59,900 Active 28 DOM
2. 2026-06-17
   days on market $59,900 Active 27 DOM
3. 2026-06-16
   days on market $59,900 Active 26 DOM
4. 2026-06-15
   days on market $59,900 Active 25 DOM
5. 2026-06-13
   days on market $59,900 Active 23 DOM
6. 2026-06-12
   days on market $59,900 Active 22 DOM
7. 2026-06-09
   days on market $59,900 Active 19 DOM
8. 2026-06-08
   days on market $59,900 Active 18 DOM
9. 2026-06-07
   days on market $59,900 Active 17 DOM
10. 2026-06-07
    days on market $59,900 Active 16 DOM
11. 2026-06-04
    days on market $59,900 Active 13 DOM
12. 2026-06-02
    days on market $59,900 Active 12 DOM
13. 2026-06-01
    days on market $59,900 Active 11 DOM
14. 2026-05-31
    days on market $59,900 Active 10 DOM
15. 2026-05-31
    days on market $59,900 Active 9 DOM
16. 2025-11-24
    price $59,900 306-char remark

    Show marketing remark (306 chars)

    This affordable and quaint house is just waiting for you to make it your own. Character abounds this 2 bedroom 1 1/2 bath home with large rear yard and tuck under garage. A must see. Priced to sell. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today.

17. 2025-11-20
    listed $79,000 Active 306-char remark

    Show marketing remark (306 chars)

    This affordable and quaint house is just waiting for you to make it your own. Character abounds this 2 bedroom 1 1/2 bath home with large rear yard and tuck under garage. A must see. Priced to sell. Selling AS IS. Square footages approximate. Call your favorite local agent for your personal showing today.

18. 2024-03-15
    price $98,000
19. 2022-11-01
    soldstatus $75,000 Closed
20. 2022-09-21
    status Pending
21. 2022-09-01
    price $84,900
22. 2022-07-29
    listed $89,900 Active
23. 2018-06-15
    soldstatus $170,000
24. 2009-12-18
    soldstatus $29,400

ⓘ 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: $2,175 · $181/mo
• Projected year-2 tax: $2,175 · $181/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 ≥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: $7,800
• − Mortgage interest: −$3,355
• − Property taxes: −$2,175
• − Insurance: −$300
• − Repairs & maintenance: −$624
• − Management: −$624
• − Depreciation: −$1,743
• Taxable loss: −$1,020
• Est. tax savings @ 24.0%: +$245
• After-tax cash flow: $163/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: Oelwein Community School District
• NCES district ID: 1921630
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $39,812
• Composite: 42.61/100
• National rank: #3189
• State rank: #281 of 289 in IA

Livability — Oelwein

• Score: 76/100
• State rank: #186
• US rank: #3329

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: Oelwein, IA
• Population (ZIP): 6,497

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 19,299 people
• By 2030: 18,701 · -3.1%
• By 2040: 17,469 · -9.5%
• By 2050: 16,389 · -15.1%
• By 2075: 15,156 · -21.5%
• By 2100: 14,214 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+30.5) · D 34.0% · R 64.4% · Other 1.6%
• 2008→2024 swing: -47.1pp toward R · 2008: 16.6pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+22.7 2016: R+19.6 2012: D+11.9 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.26%
• Current HPI: 177.9399
• 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

+103.7% since first listed

9 events — show timeline

• 2025-11-24 Price Changed $59,900 NEIRBR as distributed by MLS GRID
• 2025-11-20 Listed $79,000 NEIRBR as distributed by MLS GRID
• 2024-03-15 Price Changed $98,000 NEIRBR as distributed by MLS GRID
• 2022-11-01 Sold (MLS) $75,000 NEIRBR as distributed by MLS GRID
• 2022-09-21 Pending — NEIRBR as distributed by MLS GRID
• 2022-09-01 Price Changed $84,900 NEIRBR as distributed by MLS GRID
• 2022-07-29 Listed $89,900 NEIRBR as distributed by MLS GRID
• 2018-06-15 Sold (Public Records) $170,000 Public Records
• 2009-12-18 Sold (Public Records) $29,400 Public Records

Property tax history

+13.7%/yr

Latest (2025): $2,175 · +35.8% YoY. Source: county tax records.