419 9th St · Correctionville, IA 51016

$121,500

4 bd · 2.0 ba · 1,725 sqft · SingleFamily public records · 254 Days on market

Built 1920 8,250 sqft lot $70/sqft · 15% below area Est $129k · 6% 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).

• Cash flow +20.5/30.0
• ARV discount +10.2/15.0
• Appreciation +6.8/10.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Schools +5.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

Key facts

• Open floor plan
• Walk-in closet
• Living room

Tags

• OPEN FLOOR PLAN
• LARGE KITCHEN
• DINING AREA
• LIVING ROOM
• WALK-IN CLOSET
• FLAT LOT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#528 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• River Valley Community School District (rural): math 60% / reading 63% proficiency, ranked #238 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: River Valley Elementary (math 62% / reading 52%, grade C+, #436 of 616 statewide, top 74%, 174 students, 60% FRL); River Valley Junior- Senior High School (math 62% / reading 67%, grade B-, #211 of 336 statewide, top 70%, 168 students, 54% FRL) — zoned schools average 57% FRL vs 34% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($840 loan paydown + $4k appreciation (3.6% local appreciation)).
• At projected returns (3.6% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $122k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.03% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $129,205
• List price: $121,500
• Delta: -5.96%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 10th St	0.09mi	3/2.0 (-1)	1,827 (+6%)	18mo	$220,000	$120	66

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

Projected returns pro-forma

3.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.85×
• Total profit: $28,805
• Equity at exit: $58,823

10-year hold

• IRR: 15.7%
• Equity multiple: 3.45×
• Total profit: $83,503
• Equity at exit: $94,056

Cash invested: $34,020 (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 51016

• Home prices YoY: 1.7%
• Active inventory: 15
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$637
• Tax from tax record: −$140 /mo · $1,678/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $160

Break-even live

Break-even rent $1,048

Max offer price $121,500

Occupancy floor 82%

Sensitivity live

Price	-10% $229	-5% $195	+0% $160	+5% $126	+10% $92
Rent	-10% $62	-5% $111	+0% $160	+5% $210	+10% $259
Rate	-1.0pp $222	-0.5pp $191	base $160	+0.5pp $129	+1.0pp $97

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: $30,375
• Closing costs: $3,645
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Active 649-char remark

   Show marketing remark (649 chars)

   Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

2. 2026-05-07
   status Pending 649-char remark

   Show marketing remark (649 chars)

   Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

3. 2026-03-13
   price $121,500 649-char remark

   Show marketing remark (649 chars)

   Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

4. 2025-10-27
   price $125,000 649-char remark

   Show marketing remark (649 chars)

   Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

5. 2025-08-29
   listed $129,000 Active 649-char remark

   Show marketing remark (649 chars)

   Step inside and fall in love with this spacious open floor plan designed for comfort and convenience. The large kitchen flows seamlessly into the dining area and open living room, creating the perfect space to gather or relax. The oversized main bedroom includes a walk-in closet that provides plenty of storage for every season. Outside, you’ll appreciate the expansive flat lot—ideal for outdoor fun or future projects. The triple-sized garage offers room for vehicles, hobbies, or extra storage, while the newer roof and low-maintenance vinyl siding give you peace of mind. This home is move-in ready and waiting for its next chapter!

6. 2020-09-08
   soldstatus $75,000 429-char remark

   Show marketing remark (429 chars)

   This is an updated large home with lots of updates! Open concept living room and dining room. Kitchen is open to dining room with plenty of cabinets and counter space. Large Master on the Main floor with a large bathroom! 2nd floor features two nice sized bedrooms with 1/2 bath. Basement is part finished! Attached 2 car garage and large fenced in yard. Newer windows, shingles, and vinyl siding. All you do is move in and enjoy

7. 2020-06-15
   listed $84,950 429-char remark

   Show marketing remark (429 chars)

   This is an updated large home with lots of updates! Open concept living room and dining room. Kitchen is open to dining room with plenty of cabinets and counter space. Large Master on the Main floor with a large bathroom! 2nd floor features two nice sized bedrooms with 1/2 bath. Basement is part finished! Attached 2 car garage and large fenced in yard. Newer windows, shingles, and vinyl siding. All you do is move in and enjoy

ⓘ 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: $1,678 · $140/mo
• Projected year-2 tax: $1,793 · $149/mo
• Expected delta: +$115/yr (+$10/mo · 6.8%)

ⓘ 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 ≥102°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: $15,008
• − Mortgage interest: −$6,806
• − Property taxes: −$1,678
• − Insurance: −$608
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,535
• Taxable loss: −$19
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $1,930/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: River Valley Community School District
• NCES district ID: 1910340
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $43,677
• Composite: 51.71/100
• National rank: #1686
• State rank: #238 of 289 in IA

Livability — Correctionville

• Score: 66/100
• State rank: #528
• US rank: #11786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Correctionville, IA
• Population (ZIP): 1,095

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 16% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.61%
• Current HPI: 215.7251
• 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

+43.0% since first listed

7 events — show timeline

• 2026-05-18 Relisted — NWIA
• 2026-05-07 Pending — NWIA
• 2026-03-13 Price Changed $121,500 NWIA
• 2025-10-27 Price Changed $125,000 NWIA
• 2025-08-29 Listed $129,000 NWIA
• 2020-09-08 Sold (MLS) $75,000 NWIA
• 2020-06-15 Listed $84,950 NWIA

Property tax history

+4.4%/yr

Latest (2020): $1,678 · +7.2% YoY. Source: county tax records.