814 S 3rd Lane Ln

Guttenberg, IA 52052

$155,000D+

2 bd · 1.0 ba · 1,944 sqft · Built 1963 · SingleFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,051/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $-200/mo
• Annual: $-2,402/yr
• Cap rate: 4.74%
• Cash-on-cash: -5.54%
• DSCR: 0.75
• 1% rule: 0.68%
• Cash to close: $43,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (32.2% below list).
• It's been on market 137 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (32.2% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (7.8% local appreciation)).
• Location reads 76/100 on livability (#199 in IA, #3,648 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Clayton Ridge Community School District (rural): math 66% / reading 72% proficiency, ranked #164 of 289 in IA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clayton Ridge Elementary School (math 72% / reading 77%, grade A, #131 of 616 statewide, top 27%, 306 students, 38% FRL); Clayton Ridge Middle School (math 67% / reading 77%, grade A, #95 of 246 statewide, top 42%, 125 students, 40% FRL); Clayton Ridge High School (math 67% / reading 82%, grade B+, #89 of 336 statewide, top 30%, 192 students, 43% FRL).
• Market conditions: 40 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 13y 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.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 137 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.