2823 N 3rd St · Clinton, IA 52732

$132,500

3 bd · 3.5 ba · 1,979 sqft · SingleFamily public records · 39 Days on market

Built 1900 7,500 sqft lot Est $236k · 44% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained single-family home offering comfort, versatility, and investment potential. Located in a family-friendly neighborhood, this property features 3 spacious bedrooms in the main home, with an additional attached upstairs 1 bedroom efficiency apartment-perfect for guests, in-laws, or rental income. Inside the main house you'll find an inviting living space with abundant natural light, and a functional layout designed for both everyday living and entertaining. The large kitchen features modern appliances, ample storage and a cozy eat-in nook perfect for your morning coffee. The first floor bedroom includes a walk-in closet with access to the main level bathr

Key facts

• Private entrance
• 7,500 sq ft lot
• 2 garage spots

Tags

• PRIVATE ENTRANCE
• BEAUTIFULLY LANDSCAPED YARD
• PATIO FOR OUTDOOR DINING

Property features AI

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Cable available
• Home design: Detached single-family home; 2-story
• Construction: Originally built over 100 years ago; Frame construction with aluminum siding; Stone foundation
• Exterior features: Level lot; Lot dimensions approximately 60 x 125

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full, unfinished basement with egress window
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (5.8% below list).
• Recommended offer: $125k (5.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#222 in IA, #4,192 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D, employment D.
• Clinton Community School District (town): math 52% / reading 56% proficiency, ranked #273 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clinton High School (math 43% / reading 57%, grade D+, #313 of 336 statewide, top 93%, 981 students, 49% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 246 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $916 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,863 (5.8% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $235,501
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2823 N 3rd St	0.00mi	4/2.0 (+1)	1,979 (0%)	4mo	$127,000	$64	86
526 Meadowview Dr	0.30mi	3/1.5	1,893 (-4%)	2mo	$237,000	$125	69
716 Tower Rd	0.59mi	3/2.0	2,017 (+2%)	5mo	$195,000	$97	59
708 Tower Rd	0.57mi	3/3.0	1,838 (-7%)	2mo	$230,000	$125	58
564 Scenic Dr Dr	0.42mi	3/2.0	2,158 (+9%)	3mo	$202,000	$94	57
2711 N 2nd St St	0.23mi	3/1.5	1,695 (-14%)	2mo	$120,000	$71	56
1106 26th Ave N	0.64mi	3/3.0	2,072 (+5%)	9mo	$246,000	$119	53
2731 N 11th St	0.57mi	2/2.0 (-1)	2,098 (+6%)	4mo	$262,500	$125	49
1209 25th Ave N	0.73mi	3/2.0	1,925 (-3%)	12mo	$256,500	$133	46
3522 N 2nd St	0.56mi	3/2.0	2,146 (+8%)	11mo	$203,500	$95	45
3312 Garfield St	0.51mi	4/2.0 (+1)	1,770 (-11%)	5mo	$135,000	$76	44
2701 N 13th St	0.72mi	3/2.0	2,206 (+12%)	11mo	$262,500	$119	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-15,498
• Equity at exit: $19,756

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-5,792
• Equity at exit: $11,456

Cash invested: $37,100 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 52732

• Home prices YoY: -34.9%
• Active inventory: 246
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,249 medium
• Mortgage (P&I): −$695
• Tax from tax record: −$143 /mo · $1,712/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $94

Break-even live

Break-even rent $1,130

Max offer price $132,500

Occupancy floor 88%

Sensitivity live

Price	-10% $169	-5% $131	+0% $94	+5% $56	+10% $19
Rent	-10% $-5	-5% $44	+0% $94	+5% $143	+10% $192
Rate	-1.0pp $160	-0.5pp $127	base $94	+0.5pp $59	+1.0pp $24

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-22
   listed $132,500 Active
2. 2026-03-03
   soldstatus $127,000
3. 2026-02-27
   soldstatus Closed
4. 2026-01-28
   status Pending
5. 2026-01-16
   status Active
6. 2026-01-14
   historical
7. 2026-01-08
   status Active
8. 2026-01-06
   historical
9. 2026-01-05
   historical
10. 2025-11-09
    price
11. 2025-10-13
    listed Active
12. 2025-10-08
    historical
13. 2025-10-07
    historical
14. 2025-09-05
    price
15. 2025-08-15
    price
16. 2025-08-03
    price
17. 2025-07-02
    price
18. 2025-06-12
    price
19. 2025-05-16
    price
20. 2025-05-07
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $1,712 · $143/mo
• Projected year-2 tax: $1,896 · $158/mo
• Expected delta: +$184/yr (+$15/mo · 10.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,984
• − Mortgage interest: −$7,422
• − Property taxes: −$1,712
• − Insurance: −$662
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$3,855
• Taxable loss: −$1,065
• Est. tax savings @ 24.0%: +$256
• After-tax cash flow: $1,380/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clinton Community School District
• NCES district ID: 1907710
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $40,900
• Composite: 45.22/100
• National rank: #2666
• State rank: #273 of 289 in IA

Livability — Clinton

• Score: 75/100
• State rank: #222
• US rank: #4192

Category grades

Amenities C- Commute F Cost of living A+ Crime D Employment D Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IA
• County: Clinton County · 25,880 people
• City population: 25,880
• Metro: Clinton, IA
• Population (ZIP): 25,880
• Household income: $61,105
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 889.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.23%
• Current HPI: 155.3426
• Rent YoY: —
• Metro: Clinton, IA
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

+4.3% since first listed

20 events — show timeline

• 2026-05-22 Listed $132,500 MRED as Distributed by MLS Grid
• 2026-03-03 Sold (Public Records) $127,000 Public Records
• 2026-02-27 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-01-28 Pending — MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-09 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-13 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-08 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-05 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-15 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-02 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-06-12 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-05-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-05-07 Listed — RMLSA as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $1,712 · +1.5% YoY. Source: county tax records.