815 W 4th St · Ottumwa, IA 52501

$80,000

2 bd · 1.0 ba · 1,233 sqft · SingleFamily public records · 71 Days on market

Built 1896 3,920 sqft lot $65/sqft · 78% above area

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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 +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting and well-designed 2-bedroom, 1.5-bath, two-story home offering comfort, functionality, and unique character throughout. The main level features a spacious living room perfect for relaxing or entertaining, a dedicated dining area with built ins, and a functional kitchen with ample cabinet space. A convenient half bath on the main floor adds to the home’s practicality for guests and everyday living. Upstairs, you’ll find two comfortable bedrooms and a generously sized full bathroom. One of the bedrooms offers a standout feature—a sliding glass door leading to a private balcony, creating the perfect retreat for morning coffee or unwinding in the evening. The home also includes a 2-car garage connected by an enclosed breezeway, providing sheltered access year-round and additional flexible space for storage, a mudroom, or a cozy sitting area. Outside, you’ll appreciate the extra-large concrete driveway, offering ample parking for multiple vehicles, guests, or recreational equipment. With its thoughtful layout, unique features, and inviting feel, this home is a great opportunity for homeowners or investors alike.

Key facts

• Private balcony
• Sliding glass door
• Enclosed breezeway

Tags

• SLIDING GLASS DOOR
• PRIVATE BALCONY
• ENCLOSED BREEZEWAY
• EXTRA-LARGE CONCRETE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 5.9% in Ottumwa — 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 80/100 on livability (#91 in IA, #1,900 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Ottumwa Community School District (town): math 50% / reading 54% proficiency, ranked #277 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 186 active listings in the ZIP; 44 units permitted in Wapello County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wapello County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1896 — 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. Crime grade is D 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?
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: 1.55% ✓
• Cap rate: 12.41%
• Cash-on-cash: 21.86%
• DSCR: 1.97
• GRM: 5.4

CMA / ARV

• ARV (median comp): $44,870
• List price: $80,000
• Delta: 78.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 N Benton St	0.02mi	3/1.5 (+1)	1,261 (+2%)	7mo	$44,000	$35	82
602 N Benton St	0.21mi	2/1.0	1,328 (+8%)	5mo	$45,000	$34	73
610 N Fifth	0.35mi	3/1.0 (+1)	1,282 (+4%)	10mo	$85,000	$66	64
1040 W 2nd St	0.22mi	3/1.0 (+1)	1,280 (+4%)	17mo	$25,000	$20	64
308 Mc Phearson Ave	0.28mi	2/1.0	1,056 (-14%)	4mo	$9,000	$9	60
1220 N Wapello St	0.57mi	3/1.0 (+1)	1,293 (+5%)	2mo	$125,000	$97	58
212 Albany St	0.52mi	3/1.5 (+1)	1,221 (-1%)	11mo	$130,000	$106	58
1 Terrace Ct	0.66mi	3/1.5 (+1)	1,375 (+12%)	8mo	$150,000	$109	36
110 E Woodland Ave	0.64mi	3/1.0 (+1)	1,096 (-11%)	20mo	$30,500	$28	30

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: 14.6%
• Equity multiple: 1.58×
• Total profit: $13,056
• Equity at exit: $11,928

10-year hold

• IRR: 23.3%
• Equity multiple: 3.01×
• Total profit: $44,959
• Equity at exit: $6,917

Cash invested: $22,400 (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 52501

• Active inventory: 186
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,241 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$119 /mo · $1,432/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $408

Break-even live

Break-even rent $724

Max offer price $80,000

Occupancy floor 62%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-12
   status $80,000 Pending 71 DOM
2. 2026-06-09
   days on market $80,000 Active 71 DOM
3. 2026-06-08
   days on market $80,000 Active 70 DOM
4. 2026-06-07
   days on market $80,000 Active 69 DOM
5. 2026-06-07
   days on market $80,000 Active 68 DOM
6. 2026-06-04
   days on market $80,000 Active 65 DOM
7. 2026-06-03
   pricestatus $80,000 Active 64 DOM
8. 2026-06-02
   days on market $79,999 Active Under Contract 64 DOM
9. 2026-06-01
   days on market $79,999 Active Under Contract 63 DOM
10. 2026-05-31
    days on market $79,999 Active Under Contract 62 DOM
11. 2026-05-31
    days on market $79,999 Active Under Contract 61 DOM
12. 2026-05-19
    historical Active Under Contract 1173-char remark

    Show marketing remark (1173 chars)

    Welcome to this inviting and well-designed 2-bedroom, 1.5-bath, two-story home offering comfort, functionality, and unique character throughout. The main level features a spacious living room perfect for relaxing or entertaining, a dedicated dining area with built ins, and a functional kitchen with ample cabinet space. A convenient half bath on the main floor adds to the home’s practicality for guests and everyday living. Upstairs, you’ll find two comfortable bedrooms and a generously sized full bathroom. One of the bedrooms offers a standout feature—a sliding glass door leading to a private balcony, creating the perfect retreat for morning coffee or unwinding in the evening. The home also includes a 2-car garage connected by an enclosed breezeway, providing sheltered access year-round and additional flexible space for storage, a mudroom, or a cozy sitting area. Outside, you’ll appreciate the extra-large concrete driveway, offering ample parking for multiple vehicles, guests, or recreational equipment. With its thoughtful layout, unique features, and inviting feel, this home is a great opportunity for homeowners or investors alike.

13. 2026-05-13
    price $79,999 1173-char remark

    Show marketing remark (1173 chars)

    Welcome to this inviting and well-designed 2-bedroom, 1.5-bath, two-story home offering comfort, functionality, and unique character throughout. The main level features a spacious living room perfect for relaxing or entertaining, a dedicated dining area with built ins, and a functional kitchen with ample cabinet space. A convenient half bath on the main floor adds to the home’s practicality for guests and everyday living. Upstairs, you’ll find two comfortable bedrooms and a generously sized full bathroom. One of the bedrooms offers a standout feature—a sliding glass door leading to a private balcony, creating the perfect retreat for morning coffee or unwinding in the evening. The home also includes a 2-car garage connected by an enclosed breezeway, providing sheltered access year-round and additional flexible space for storage, a mudroom, or a cozy sitting area. Outside, you’ll appreciate the extra-large concrete driveway, offering ample parking for multiple vehicles, guests, or recreational equipment. With its thoughtful layout, unique features, and inviting feel, this home is a great opportunity for homeowners or investors alike.

14. 2026-03-21
    listed $85,000 Active 1173-char remark

    Show marketing remark (1173 chars)

    Welcome to this inviting and well-designed 2-bedroom, 1.5-bath, two-story home offering comfort, functionality, and unique character throughout. The main level features a spacious living room perfect for relaxing or entertaining, a dedicated dining area with built ins, and a functional kitchen with ample cabinet space. A convenient half bath on the main floor adds to the home’s practicality for guests and everyday living. Upstairs, you’ll find two comfortable bedrooms and a generously sized full bathroom. One of the bedrooms offers a standout feature—a sliding glass door leading to a private balcony, creating the perfect retreat for morning coffee or unwinding in the evening. The home also includes a 2-car garage connected by an enclosed breezeway, providing sheltered access year-round and additional flexible space for storage, a mudroom, or a cozy sitting area. Outside, you’ll appreciate the extra-large concrete driveway, offering ample parking for multiple vehicles, guests, or recreational equipment. With its thoughtful layout, unique features, and inviting feel, this home is a great opportunity for homeowners or investors alike.

15. 2021-07-12
    soldstatus $75,000

ⓘ 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: $1,432 · $119/mo
• Projected year-2 tax: $1,432 · $119/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $14,890
• − Mortgage interest: −$4,481
• − Property taxes: −$1,432
• − Insurance: −$400
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$2,327
• Taxable income: $3,867
• Est. tax owed @ 24.0%: −$928
• After-tax cash flow: $3,969/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: Ottumwa Community School District
• NCES district ID: 1922110
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $39,864
• Composite: 43.46/100
• National rank: #3004
• State rank: #277 of 289 in IA

Livability — Ottumwa

• Score: 80/100
• State rank: #91
• US rank: #1900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottumwa, IA
• Population (ZIP): 30,341

Population outlook (Wapello County) Hauer SSP2

• Today (2025): 35,472 people
• By 2030: 35,563 · +0.3%
• By 2040: 36,083 · +1.7%
• By 2050: 37,287 · +5.1%
• By 2075: 43,898 · +23.8%
• By 2100: 52,973 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 7% Black 4% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 4% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Wapello

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.4%
• 2008→2024 swing: -45.0pp toward R · 2008: 13.5pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+23.6 2016: R+20.8 2012: D+11.8 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.66%
• Current HPI: 174.6021
• 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

+6.7% since first listed

4 events — show timeline

• 2026-05-19 Contingent — IAR
• 2026-05-13 Price Changed $79,999 IAR
• 2026-03-21 Listed $85,000 IAR
• 2021-07-12 Sold (Public Records) $75,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,432 · +5.6% YoY. Source: county tax records.