Real Estate Investing in Lewis, Iowa (51544)
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Should you buy in 51544 (Lewis, IA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.6% 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 Lewis, IA (51544)?
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Market Analysis: 51544 Lewis
The 51544 ZIP covers a section of Lewis that demands careful diligence. Prices near $166K look accessible, but the work to make a deal cash flow is real.
The investment case in 51544 is healthy only for operators who understand what they are buying. A $166K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Put differently, 51544 offers a low basis, the region around Lewis 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 51544 includes headwinds that any investor should price in. Income distribution skews lower than Lewis averages, and tenant stability requires active management.
Strategically, 51544 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 Lewis:
Market Trends
Home Value History (with trend line)
📊 How Does 51544 Compare?
| Metric | 51544 | Lewis | Iowa |
|---|---|---|---|
| Home Value | $165,970 | $165,970 | $227,232 |
| 5-Year CAGR | 5.0% | 5.0% | 6.0% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 4.1% | 4.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 51544 (Lewis, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $165,970 |
| Monthly Rent | $864 |
| Price-to-Rent | 16.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +8.2% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 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 (4.1%). 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 51544
Population: 843
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
What are home prices like in Lewis, IA?
Median home price in Lewis, IA is near $166K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Can owner-occupants cash flow in Lewis, IA?
Lewis, IA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $166K price point reasonable to enter.
How high is vacancy risk in Lewis, IA?
Lewis, IA carries elevated vacancy risk. Expect measured absorption at market rents of $864/mo.
How much do tenants pay in Lewis, IA?
Expect rents around $864/mo per month in Lewis, IA. With home values at $166K, the yield math works out to reasonable levels for rental investors.
Is Lewis, IA a friendly market for rental owners?
Lewis, IA falls under IA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
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