Save This Old c.1856 Seven Bedroom Iowa Mansion with Carriage House Under $50K

519 N 4th St, Keokuk, IA 52632  $49,750

• Contact Realtor: Penny Logsdon
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• Niche

This home was constructed for Samuel Dwight Eaton (1823-1899) and his wife Gertrude. Samuel was an engineer.  The couple lived in the home with their young son William.

Rankin

John Rankin (1823-1869) recruited men for the 17th Iowa Volunteer Infantry Regiment during the Civil War, and was then commissioned as its colonel. He also was a preeminent lawyer and served as an Ohio State  Senator from 1857 to 1862.

Baker

The Baker family owned the home in the 1910s and 1920s. Eugene Ross Baker (1876-1925) was in the pharmaceutical business and became quite wealthy. The Baker building at the corner of Fourth and Johnsons streets has the Baker name on it. Eugene lived in the home with his second wife Edith and their three children. Eugene’s first wife had died in 1908 at the young age of 29. The Bakers added the last large addition that had a flat roof that did not fare well in the test of time and weather.

Knox

Rita Knox purchased the home in 1965 and owned it for 50 years, raising her five children in the home.

Read more here.

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Pros of Living in Keokuk, IA

1. Extremely Affordable Cost of Living

• Keokuk boasts a cost-of-living index around 78, making it 22–28% lower than the U.S. average. Living expenses—housing, groceries, healthcare, utilities—are all notably cheaper.

• Median home values range from $75K to $93K, roughly 67–75% less than national norms; two-bedroom rent sits around $690–$730/month.

• Housing affordability is strong, as the median home-price-to-income ratio is approximately 1.7×, significantly more accessible than state and national averages.

2. Reasonable Commutes & Safe Health Infrastructure

• Residents enjoy short average commutes—about 14 minutes, well under the national average.

• Health & safety infrastructure rates highly: clean air, accessible clinics, hospitals, and emergency services are all positives.

3. Decent Livability & Sense of Community

• Overall livability is above average, boosted by affordability, access to amenities, and community friendliness.

• Keokuk features historic architecture, local museums, and riverfront heritage sites linking to Iowa’s identity.

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Cons of Living in Keokuk, IA

1. High Crime Rates

• Keokuk’s overall crime rate is significantly above average—23–206% higher than U.S. norms—particularly in property and violent crime categories.

• You have approximately a 1 in 38 chance of being a crime victim; violent crime is about 1 in 221, and property crime close to 1 in 46. Motor vehicle theft rates are especially high—around 1 in 328 chance.

2. Economic Struggles & Poverty

• Median household income is roughly $43K–$47K, around 36% below the national average. The poverty rate stands around 19%, significantly higher than the 10–13% national benchmark.

• Unemployment edges between 7–8%, again above national averages.

3. Declining Population & Small Size

• The city’s population hovers just under 10,000 and has shrunk ~4% over the last 5 years.

• Keokuk’s small size may limit economic diversification, entertainment options, and scale of services.

4. Education & Job Quality Concerns

• While high school completion rates are decent (~91%), only about 16% of adults hold a bachelor’s degree, which is lower than national averages.

• Employment opportunities are modest; residents report low income levels and unemployment challenges.

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