308 N Beech St · Marcus, IA 51035

$90,000

4 bd · 1.0 ba · 2,088 sqft · SingleFamily public records · 78 Days on market

Built 1885 0.39 ac lot $43/sqft · 48% below area Est $173k · 48% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.5/10.0
• Livability +3.9/5.0
• Appreciation +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

New on the Market - 4-bedroom home sits on a desirable corner lot and features a fenced-in side yard, perfect for outdoor activities or pets. The property includes a 2-car garage and shed. The main floor offers a functional eat-in kitchen with a small island, alongside a dining area with sliding glass doors that lead out to the deck—ideal for entertaining or enjoying outdoor meals. In addition, there is a formal dining room for special gatherings. The main level also includes a comfortable living room, a dedicated office space, a master bedroom, and a full bathroom with a conveniently located laundry area. Recent updates include new windows installed on the main floor. The upstairs, you'll find three additional bedrooms and a storage room. This home combines practicality, comfort, and great outdoor space in a prime corner-lot location.

Key facts

• Formal dining room
• Fenced-in side yard
• Sliding glass doors

Tags

• CORNER LOT
• FENCED-IN SIDE YARD
• EAT-IN KITCHEN
• SLIDING GLASS DOORS
• FORMAL DINING ROOM
• DEDICATED OFFICE SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#130 in IA, #2,373 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Marcus-Meriden-Cleghorn Community School District (rural): math 75% / reading 75% proficiency, ranked #102 of 330 in IA (top 31%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 1.58% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.50%
• DSCR: 2.09
• GRM: 5.3

CMA / ARV

• ARV (median comp): $173,167
• List price: $90,000
• Delta: -48.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 S Ash St	0.31mi	4/2.0	1,993 (-4%)	9mo	$178,500	$90	67
203 N Beech St	0.11mi	4/1.5	1,788 (-14%)	5mo	$18,000	$10	65
303 E Barnes St	0.40mi	4/1.5	1,976 (-5%)	8mo	$184,000	$93	64
600 E Spruce St	0.12mi	4/3.0	1,821 (-13%)	10mo	$185,000	$102	57
104 N Oak St	0.27mi	3/1.8 (-1)	2,181 (+4%)	18mo	$173,000	$79	57
308 S Elm St	0.55mi	3/2.0 (-1)	1,960 (-6%)	2mo	$252,350	$129	54
310 N Linn St	0.55mi	4/2.5	2,219 (+6%)	18mo	$225,000	$101	43

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: 17.8%
• Equity multiple: 1.72×
• Total profit: $18,196
• Equity at exit: $13,419

10-year hold

• IRR: 26.3%
• Equity multiple: 3.31×
• Total profit: $58,087
• Equity at exit: $7,782

Cash invested: $25,200 (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 51035

• Home prices YoY: -1.8%
• Active inventory: 11
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $514

Break-even live

Break-even rent $768

Max offer price $90,000

Occupancy floor 59%

Sensitivity live

Price	-10% $565	-5% $540	+0% $514	+5% $489	+10% $464
Rent	-10% $402	-5% $458	+0% $514	+5% $571	+10% $627
Rate	-1.0pp $560	-0.5pp $537	base $514	+0.5pp $491	+1.0pp $467

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $90,000 Active 78 DOM
2. 2026-06-18
   days on market $90,000 Active 76 DOM
3. 2026-06-17
   days on market $90,000 Active 75 DOM
4. 2026-06-16
   days on market $90,000 Active 74 DOM
5. 2026-06-16
   price $90,000 Active 73 DOM
6. 2026-06-15
   days on market $97,500 Active 73 DOM
7. 2026-06-13
   days on market $97,500 Active 71 DOM
8. 2026-06-12
   days on market $97,500 Active 70 DOM
9. 2026-06-09
   days on market $97,500 Active 67 DOM
10. 2026-06-08
    days on market $97,500 Active 66 DOM
11. 2026-06-07
    days on market $97,500 Active 65 DOM
12. 2026-06-05
    days on market $97,500 Active 63 DOM
13. 2026-06-04
    days on market $97,500 Active 61 DOM
14. 2026-06-02
    days on market $97,500 Active 60 DOM
15. 2026-06-01
    days on market $97,500 Active 59 DOM
16. 2026-05-31
    days on market $97,500 Active 58 DOM
17. 2026-05-31
    days on market $97,500 Active 57 DOM
18. 2026-04-03
    listed $97,500 Active 853-char remark

    Show marketing remark (853 chars)

    New on the Market - 4-bedroom home sits on a desirable corner lot and features a fenced-in side yard, perfect for outdoor activities or pets. The property includes a 2-car garage and shed. The main floor offers a functional eat-in kitchen with a small island, alongside a dining area with sliding glass doors that lead out to the deck—ideal for entertaining or enjoying outdoor meals. In addition, there is a formal dining room for special gatherings. The main level also includes a comfortable living room, a dedicated office space, a master bedroom, and a full bathroom with a conveniently located laundry area. Recent updates include new windows installed on the main floor. The upstairs, you'll find three additional bedrooms and a storage room. This home combines practicality, comfort, and great outdoor space in a prime corner-lot location.

19. 2021-02-05
    soldstatus $81,000
20. 2021-02-05
    soldstatus $81,000
21. 2021-02-01
    soldstatus $81,000 301-char remark

    Show marketing remark (301 chars)

    This is a four bedroom home with one main floor bathroom. Updates to the kitchen area and an addition of a sunroom/dining area off the kitchen which provides access to the deck. Located on a large corner lot with many trees and added landscaping for addition privacy. Lots of potential with this home.

22. 2020-06-23
    listed $82,500 301-char remark

    Show marketing remark (301 chars)

    This is a four bedroom home with one main floor bathroom. Updates to the kitchen area and an addition of a sunroom/dining area off the kitchen which provides access to the deck. Located on a large corner lot with many trees and added landscaping for addition privacy. Lots of potential with this home.

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,288 · $107/mo
• Expected delta: +$124/yr (+$10/mo · 10.7%)

ⓘ 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 ≥101°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: $17,027
• − Mortgage interest: −$5,041
• − Property taxes: −$1,164
• − Insurance: −$450
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,618
• Taxable income: $5,029
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $4,967/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: Marcus-Meriden-Cleghorn Community School District
• NCES district ID: 1918630
• Math proficiency: 75% ▼ -15.00%
• Reading proficiency: 75% ▼ -15.00%
• Median HH income: $54,764
• Composite: 64.96/100
• National rank: #1091
• State rank: #102 of 330 in IA

Livability — Marcus

• Score: 78/100
• State rank: #130
• US rank: #2373

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: Marcus, IA
• Population (ZIP): 1,664

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Portuguese 3% Lithuanian 3%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.11%
• Current HPI: 222.828
• 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

+18.2% since first listed

5 events — show timeline

• 2026-04-03 Listed $97,500 NWIA
• 2021-02-05 Sold (Public Records) $81,000 Public Records
• 2021-02-05 Sold (Public Records) $81,000 Public Records
• 2021-02-01 Sold (MLS) $81,000 NWIA
• 2020-06-23 Listed $82,500 NWIA

Property tax history

+5.6%/yr

Latest (2025): $1,164 · +2.5% YoY. Source: county tax records.