113 N Main St · Monona, IA 52159

$175,000

8 bd · None ba · 2,704 sqft · Other public records · 3 Days on market

Built 1946 9,981 sqft lot

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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 +13.9/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment opportunity Excellent return on investment!!!!!!!!!!!

Key facts

• Garage
• Built 1946
• Listed 3 days

Property features AI

Finance

• Other: Zoning: U-1
• Financial info: Actual rents reported for units: $650, $360, $325, $575, $350; Annual tax amount reported

Exterior

• Parking: Attached garage (1 car); Approximately 10 open parking spaces; Gravel parking and parking pad
• Utilities: Public water; Public sewer; Other utilities
• Home design: Residential income property (apartment)
• Construction: Block and brick construction; Below-grade finished area present
• Exterior features: Membrane roof; Irregular lot shape; Lot dimensions approximately 71 x 238

Interior

• Bedrooms: Three-bedroom unit; One-bedroom units (three separate units); Two-bedroom unit
• Heating & cooling: Natural gas heating; No central air
• Interior features: Finished basement with both interior and exterior entry; Block basement construction
• Laundry & utility: Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 8-bed/?-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $18 ($217/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 $138k (21.3% below list).
• Recommended offer: $138k (21.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#92 in IA, #1,928 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Mfl Marmac Community School District (rural): math 62% / reading 68% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mfl Marmac Hs (math 67% / reading 77%, grade B+, #117 of 336 statewide, top 39%, 262 students, 31% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 11 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.4% local appreciation)).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago 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.
• Current owner paid $28k; list at $175k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,728 (21.3% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 2.14×
• Total profit: $56,012
• Equity at exit: $114,692

10-year hold

• IRR: 16.4%
• Equity multiple: 4.32×
• Total profit: $162,672
• Equity at exit: $212,152

Cash invested: $49,000 (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 52159

• Home prices YoY: 3.1%
• Active inventory: 11
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $18

Break-even live

Break-even rent $1,354

Max offer price $175,000

Occupancy floor 94%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-12
   statusdays on market $175,000 Pending 3 DOM
2. 2026-06-09
   remarks 606-char remark
3. 2026-06-09
   listed $175,000 Active 1 DOM

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,850 · $154/mo
• Expected delta: +$898/yr (+$75/mo · 94.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,527
• − Mortgage interest: −$9,803
• − Property taxes: −$952
• − Insurance: −$875
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$5,091
• Taxable loss: −$2,838
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $898/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: Mfl Marmac Community School District
• NCES district ID: 1918120
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 68% ▼ -3.00%
• Median HH income: $47,395
• Composite: 54.95/100
• National rank: #1305
• State rank: #198 of 289 in IA

Livability — Monona

• Score: 80/100
• State rank: #92
• US rank: #1928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monona, IA
• Population (ZIP): 2,488

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 16,656 people
• By 2030: 15,986 · -4.0%
• By 2040: 14,554 · -12.6%
• By 2050: 13,187 · -20.8%
• By 2075: 11,131 · -33.2%
• By 2100: 9,733 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid R (+34.5) · D 32.2% · R 66.7% · Other 1.2%
• 2008→2024 swing: -51.7pp toward R · 2008: 17.2pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+28.8 2016: R+22.8 2012: D+6.9 2008: D+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.42%
• Current HPI: 210.551
• Rent YoY: —
• Metro: —
• 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

+485.3% since first listed

5 events — show timeline

• 2026-06-08 Listed $175,000 NEIRBR as distributed by MLS GRID
• 2025-03-23 Rental Removed $350 LEASESTAR
• 2025-03-23 Listed for Rent $350 LEASESTAR
• 2019-02-09 Sold (MLS) $28,000 NEIRBR as distributed by MLS GRID
• 2018-12-03 Listed $29,900 NEIRBR as distributed by MLS GRID

Property tax history

-6.4%/yr

Latest (2025): $952 · +8.4% YoY. Source: county tax records.