521 3rd Ave S · Clinton, IA 52732

$49,000

3 bd · 1.0 ba · 1,302 sqft · SingleFamily public records · 11 Days on market

Built 1900 4,791 sqft lot $38/sqft · 16% below area Est $59k · 16% under

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Why this score? — see what drove the B+ 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 +14.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a home with great potential? This 3-bedroom, 1-bath home offers approximately 1,300 square feet of living space on the main level and is ready for your personal touch. There is also a full unfinished basement. With a few cosmetic updates such as fresh paint and new flooring, this property could truly shine. Several improvements have already been completed, including a newer water heater (2021) and six updated windows. The spacious layout provides plenty of room to create a comfortable home while building equity along the way. Whether you're a first-time buyer, investor, or someone looking for a project with upside, this home offers an affordable opportunity to make it your own.

Key facts

• Updated windows
• Newer water heater
• 4,791 sq ft lot

Tags

• FULL UNFINISHED BASEMENT
• NEWER WATER HEATER
• UPDATED WINDOWS

Property features AI

Finance

• HOA & community: No master association fees required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story design; Built over 100 years ago; Faces unspecified
• Construction: Aluminum siding; Stone foundation; Asphalt roof; Approximately 1,306 finished square feet (main level); Unfinished basement approx. 1,260 sq ft
• Exterior features: Level lot; Lot dimensions approximately 33 x 140; Lot size less than 0.25 acre

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Six total rooms; Unfinished full basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Cap rate 19.9% vs local median 6.7% in Clinton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: 246 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $339 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,000

Questions for the listing agent

1. Built in 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 2.31% ✓
• Cap rate: 19.92%
• Cash-on-cash: 48.66%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

• ARV (median comp): $58,644
• List price: $49,000
• Delta: -40.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
545 3rd Ave S	0.06mi	2/1.0 (-1)	1,245 (-4%)	2mo	$74,900	$60	83
113 N 6th St	0.23mi	3/1.0	1,142 (-12%)	6mo	$48,000	$42	64
1013 N 2nd St St	0.69mi	3/1.0	1,297 (-0%)	5mo	$80,000	$62	63
516 5th Ave N	0.51mi	3/1.0	1,190 (-9%)	0mo	$80,000	$67	62
337 4th Ave N	0.43mi	2/1.0 (-1)	1,200 (-8%)	2mo	$118,000	$98	60
635 8th Ave S	0.44mi	2/1.0 (-1)	1,210 (-7%)	6mo	$36,525	$30	58
765 9th Ave S	0.60mi	2/1.0 (-1)	1,353 (+4%)	6mo	$102,500	$76	56
312 N 3rd St	0.46mi	3/1.0	1,114 (-14%)	7mo	$45,500	$41	49
312 N 3rd St	0.46mi	3/1.0	1,114 (-14%)	7mo	$45,500	$41	49
732 Argyle Ct	0.72mi	3/1.0	1,224 (-6%)	12mo	$89,900	$73	46
920 5th Ave N	0.72mi	3/2.0	1,416 (+9%)	3mo	$168,000	$119	45
325 S Bluff Blvd	0.58mi	3/2.0	1,168 (-10%)	11mo	$188,500	$161	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: 46.2%
• Equity multiple: 3.01×
• Total profit: $27,510
• Equity at exit: $7,306

10-year hold

• IRR: 52.0%
• Equity multiple: 6.08×
• Total profit: $69,647
• Equity at exit: $4,237

Cash invested: $13,720 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,131 high
• Mortgage (P&I): −$257
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $556

Break-even live

Break-even rent $427

Max offer price $49,000

Occupancy floor 46%

Sensitivity live

Price	-10% $584	-5% $570	+0% $556	+5% $542	+10% $529
Rent	-10% $467	-5% $512	+0% $556	+5% $601	+10% $646
Rate	-1.0pp $581	-0.5pp $569	base $556	+0.5pp $544	+1.0pp $531

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 2nd Ave S Unit 2 Clinton, IA	2.0	1.0	1082	$750	$0.69	45d	1	0.12mi
1002 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	0.58mi
1004 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	0.58mi
1006 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	0.59mi
1008 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	0.59mi

Listing history 18 events

1. 2026-06-19
   days on market $49,000 Active 11 DOM
2. 2026-06-18
   days on market $49,000 Active 10 DOM
3. 2026-06-17
   days on market $49,000 Active 9 DOM
4. 2026-06-16
   days on market $49,000 Active 8 DOM
5. 2026-06-15
   days on market $49,000 Active 7 DOM
6. 2026-06-14
   days on market $49,000 Active 5 DOM
7. 2026-06-12
   days on market $49,000 Active 4 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   pricedays on marketlisting id $49,000 Active 1 DOM
10. 2026-06-08
    days on market $35,000 Active 27 DOM
11. 2026-06-07
    days on market $35,000 Active 26 DOM
12. 2026-06-07
    days on market $35,000 Active 25 DOM
13. 2026-06-03
    days on market $35,000 Active 22 DOM
14. 2026-06-02
    days on market $35,000 Active 21 DOM
15. 2026-06-01
    days on market $35,000 Active 20 DOM
16. 2026-05-31
    days on market $35,000 Active 19 DOM
17. 2026-05-30
    days on market $35,000 Active 18 DOM
18. 2026-05-12
    listed $35,000 Active 553-char remark

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $743 · $62/mo
• Expected delta: +$27/yr (+$2/mo · 3.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $13,570
• − Mortgage interest: −$2,745
• − Property taxes: −$716
• − Insurance: −$245
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$1,425
• Taxable income: $6,268
• Est. tax owed @ 24.0%: −$1,504
• After-tax cash flow: $5,172/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

1 event — show timeline

• 2026-06-08 Listed $49,000 MRED as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $716 · +1.4% YoY. Source: county tax records.