Real Estate Investing in Clear Lake, Iowa (50428)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 50428 (Clear Lake, IA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 25.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.8 — hard to cash-flow at these prices.
What’s happening in Clear Lake, IA (50428)?
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Market Analysis: 50428 Clear Lake
This part of Cerro Gordo County is not an easy win. The 50428 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 50428 is substantial only for operators who understand what they are buying. A $340K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
From an investor standpoint, 50428 offers a low basis, the region around Clear Lake has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 50428 includes headwinds that any investor should price in. Income distribution skews lower than Clear Lake averages, and tenant stability requires active management.
Distressed ZIPs reward experience. significant returns are possible in 50428, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Clear Lake:
Property Strategy for 50428
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $268,155 | $920 | 2.5% | +7.9% | $134,078 |
| 3BR | $327,953 | $1,190 | 2.6% | +6.9% | $109,318 |
| 4BR | $414,249 | $1,400 | 2.4% | +6.7% | $103,562 |
| 5BR | $660,436 | — | — | +6.7% | $132,087 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 50428 Compare?
| Metric | 50428 | Clear Lake | Mason City, IA | Iowa |
|---|---|---|---|---|
| Home Value | $339,966 | $339,966 | N/A | $227,232 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 6.0% |
| Avg Rent | $950 | $950 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 50428 (Clear Lake, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $339,966 |
| Monthly Rent | $950 |
| Price-to-Rent | 29.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 50428
Population: 9,093
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 50428
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How tight is the rental market in Clear Lake, IA?
Clear Lake, IA sees elevated vacancy, which is reasonable relative to the broader IA rental market.
How much does a house cost in Clear Lake, IA?
Median home price in Clear Lake, IA is near $340K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
How do experienced investors play Clear Lake, IA?
Clear Lake, IA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($340K prices, $950/mo rents) make it a reasonable choice.
What is the tenant pool like in Clear Lake, IA?
Clear Lake, IA draws a consistent base of working renters. Demand at the $950/mo rent level is reasonable for standard single-family and small multi rentals.
How strong are rents in Clear Lake, IA?
Rent in Clear Lake, IA is around $950/mo. The resulting rent-to-value relationship with $340K pricing is reasonable for most investor models.
You know 50428 now. You don’t know where it ranks.
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How 50428 ranks in Mason City, IA
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