Real Estate Investing in Larrabee, Iowa (51029)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 51029 (Larrabee, IA)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Larrabee, IA (51029)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 51029 Larrabee
The 51029 ZIP covers a section of Larrabee that demands careful diligence. Prices near $124K look accessible, but the work to make a deal cash flow is real.
The 51029 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within IA, ZIP 51029 trails on several market indicators that neighboring Cherokee County submarkets outperform. The gap is real and solid enough to shape underwriting.
Employment concentration in 51029 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 51029 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Larrabee:
Market Trends
Home Value History (with trend line)
📊 How Does 51029 Compare?
| Metric | 51029 | Larrabee | Iowa |
|---|---|---|---|
| Home Value | $124,299 | $124,299 | $227,232 |
| 5-Year CAGR | N/A | N/A | 6.0% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 5.3% | 5.3% | - |
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 51029 (Larrabee, IA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 51029 (Larrabee, IA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $124,299 |
| Monthly Rent | $846 |
| Price-to-Rent | 12.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.2% |
| Cap Rate | 5.3% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (5.3%). 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 51029
Population: 226
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
Frequently Asked Questions
Does Larrabee, IA favor landlords or tenants?
Larrabee, IA operates under IA law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
What approach is best for Larrabee, IA real estate?
The best-fit strategy in Larrabee, IA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is real estate in Larrabee, IA a good investment right now?
Larrabee, IA scores 2.0/5 for investability. Home values sit at $124K and rents near $846/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is Larrabee, IA suited for a house hack?
For house hackers, Larrabee, IA is a challenging. The $846/mo rent on a unit helps defray the mortgage on a $124K property.
How much should I expect to pay for a home in Larrabee, IA?
Typical homes in Larrabee, IA go for around $124K. The 5-year CAGR of 0.0% stable price movement.
You know 51029 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 51029 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 51029 (Larrabee)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 51029 (Larrabee, IA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.