Real Estate Investing in Doon, Iowa (51235)
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Should you buy in 51235 (Doon, IA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High price-to-rent: Price-to-rent ratio 30.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Doon, IA (51235)?
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Market Analysis: 51235 Doon
ZIP 51235 in Doon, IA carries a notable set of headwinds. Home values near $299K and rents of $828/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 51235 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 51235's metrics run below Lyon County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 51235 ZIP's population of 1,152 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
Strategically, 51235 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 Doon:
Market Trends
Home Value History (with trend line)
📊 How Does 51235 Compare?
| Metric | 51235 | Doon | Iowa |
|---|---|---|---|
| Home Value | $299,472 | $299,472 | $227,232 |
| 5-Year CAGR | N/A | N/A | 6.0% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 2.2% | 2.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 51235 (Doon, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $299,472 |
| Monthly Rent | $828 |
| Price-to-Rent | 30.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.2% |
| 5-Year IRR | 12.4% |
📈 Home Appreciation
| 1-Year | +15.2% ▲ |
| 3-Year CAGR | +10.3% ▲ |
| 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 (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 51235
Population: 1,152
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does Doon, IA favor landlords or tenants?
Rental owners in Doon, IA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Is Doon, IA a good market for FHA house hackers?
Doon, IA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $828/mo rent level.
How much does a house cost in Doon, IA?
Homes in Doon, IA typically sell near $299K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
Is real estate in Doon, IA a good investment right now?
Doon, IA rates 2.0/5 for investability. With median values at $299K and rents near $828/mo, the market offers reasonable fundamentals for rental investors.
Are renters plentiful in Doon, IA?
Working renters make up the core of the Doon, IA tenant base. The pool is reasonable for investors targeting long-term holds.
You know 51235 now. You don’t know where it ranks.
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