Real Estate Investing in Melvin, Iowa (51350)
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Should you buy in 51350 (Melvin, IA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 20.4% of homes vacant — above national norms.
• 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 Melvin, IA (51350)?
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Market Analysis: 51350 Melvin
The 51350 ZIP in Melvin, IA is a local-operator market. Outside capital chasing a $136K entry has to pair deep knowledge with the discount.
From a cash-flow lens, the numbers look inviting — $136K purchase price, 0.0% nominal cap — the work to hit that pro forma in 51350 is substantial and deserves full respect.
Nearby ZIPs in Melvin have seen price recovery that 51350 has not matched. Osceola County data supports the view that the spread is structural rather than temporary.
Looking more closely, 417 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 51350 is an operator game, not a passive one. Turning to rents, entry prices of $136K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Melvin:
Market Trends
Home Value History (with trend line)
📊 How Does 51350 Compare?
| Metric | 51350 | Melvin | Iowa |
|---|---|---|---|
| Home Value | $136,455 | $136,455 | $227,232 |
| 5-Year CAGR | N/A | N/A | 6.0% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 4.7% | 4.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 51350 (Melvin, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $136,455 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.7% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +14.7% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 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 (4.7%). 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 51350
Population: 417
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
How landlord-friendly is Melvin, IA?
Landlord-friendliness in Melvin, IA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Are tenants stable in Melvin, IA?
Melvin, IA draws a measured base of working renters. Demand at the $828/mo rent level is reasonable for standard single-family and small multi rentals.
Should investors consider Melvin, IA?
The 2.0/5 investability rating in Melvin, IA reflects its $136K prices and $828/mo rents. Investors generally consider it a solid option within IA.
How strong are rents in Melvin, IA?
The typical rental in Melvin, IA commands about $828/mo monthly. That rent profile measured cash flow against the $136K purchase basis.
What is the average home sale price in Melvin, IA?
Typical homes in Melvin, IA go for around $136K. The 5-year CAGR of 0.0% consistent price movement.
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