Real Estate Investing in Promise City, Iowa (52583)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 52583 (Promise City, 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.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on 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 Promise City, IA (52583)?
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Market Analysis: 52583 Promise City
Not every below-median market is a bargain. Promise City's 52583 ZIP records signals that favor experienced operators who can absorb the risk $227K pricing implies.
Rent of $846/mo on a $227K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 52583 sits below the stated 0.0% once reality is priced in.
The gap between 52583 and stronger Promise City ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 52583 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 52583 is an operator game, not a passive one. Put differently, entry prices of $227K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Promise City:
Market Trends
Home Value History (with trend line)
📊 How Does 52583 Compare?
| Metric | 52583 | Promise City | Iowa |
|---|---|---|---|
| Home Value | $227,304 | $227,304 | $227,232 |
| 5-Year CAGR | N/A | N/A | 6.0% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 2.9% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 52583 (Promise City, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $227,304 |
| Monthly Rent | $846 |
| Price-to-Rent | 22.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +19.9% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 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 (2.9%). 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 52583
Population: 391
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 kind of vacancy should I budget for in Promise City, IA?
Occupancy in Promise City, IA runs predictable with elevated vacancy. Well-priced units at $846/mo lease on reasonable timelines.
How do experienced investors play Promise City, IA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Promise City, IA. The numbers - $227K homes against $846/mo rents - support that play.
How much should I expect to pay for a home in Promise City, IA?
Typical homes in Promise City, IA go for around $227K. The 5-year CAGR of 0.0% steady price movement.
Can owner-occupants cash flow in Promise City, IA?
Promise City, IA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $846/mo rent level.
Are tenants stable in Promise City, IA?
Working renters make up the core of the Promise City, IA tenant base. The pool is reasonable for investors targeting long-term holds.
You know 52583 now. You don’t know where it ranks.
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