106 Mulberry St · Tipton, IA 52772

$49,900

2 bd · 1.0 ba · 914 sqft · SingleFamily public records · 26 Days on market

Built 1903 0.25 ac lot $55/sqft · 64% below area ↓ 3% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

Key facts

• 0.25 acre lot
• 4 parking spots
• Built 1903

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential zoning
• Construction: Frame and other construction materials
• Exterior features: Garden; Level lot; Sidewalks; Street lights

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Master bedroom located downstairs
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Other type of heating
• Interior features: Master suite on the main floor; Crawl space basement (unfinished)
• Laundry & utility: Main level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($742 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 1.8% in Tipton — 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 79/100 on livability (#111 in IA, #2,123 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tipton Community School District (town): math 62% / reading 72% proficiency, ranked #171 of 289 in IA (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tipton Elementary School (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 339 students, 37% FRL); Tipton Middle School (math 66% / reading 73%, grade A, #113 of 246 statewide, top 49%, 292 students, 32% FRL); Tipton High School (math 58% / reading 77%, grade B, #186 of 336 statewide, top 57%, 310 students, 22% FRL).
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 89 units permitted in Cedar County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cedar County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1903 — 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: 1.49% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.76%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $139,897
• List price: $49,900
• Delta: -64.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Mulberry St	0.00mi	2/1.0	914 (0%)	0mo	$40,000	$44	100
100 Mulberry St	0.03mi	2/1.0	817 (-11%)	4mo	$147,500	$181	78
301 Plum St	0.16mi	2/1.0	1,040 (+14%)	8mo	$74,000	$71	63
302 Meridian St	0.14mi	3/1.5 (+1)	1,038 (+14%)	10mo	$148,000	$143	55
58 Lemon St	0.58mi	2/1.0	792 (-13%)	10mo	$80,000	$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: 13.1%
• Equity multiple: 1.52×
• Total profit: $7,321
• Equity at exit: $7,440

10-year hold

• IRR: 22.0%
• Equity multiple: 2.88×
• Total profit: $26,245
• Equity at exit: $4,314

Cash invested: $13,972 (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 52772

• Home prices YoY: -13.7%
• Active inventory: 60
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $742 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$156
• Net cashflow: $242

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 62%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
503 Sycamore St Tipton, IA	2.0	1.0–1.5	775	$742	$0.96	13d	3	0.44mi

Listing history 18 events

1. 2026-06-09
   status $49,900 Pending 26 DOM
2. 2026-06-08
   days on market $49,900 Active 26 DOM
3. 2026-06-07
   days on market $49,900 Active 25 DOM
4. 2026-06-05
   days on market $49,900 Active 23 DOM
5. 2026-06-04
   days on market $49,900 Active 21 DOM
6. 2026-06-02
   days on market $49,900 Active 20 DOM
7. 2026-06-01
   days on market $49,900 Active 19 DOM
8. 2026-05-31
   days on market $49,900 Active 18 DOM
9. 2026-05-31
   days on market $49,900 Active 17 DOM
10. 2026-05-13
    listed $65,000 Active 455-char remark
11. 2020-03-12
    soldstatus $58,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

12. 2020-03-12
    soldstatus $58,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

13. 2020-03-12
    soldstatus $58,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

14. 2019-12-09
    listed $67,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

15. 2019-12-09
    listed $67,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

16. 2019-12-09
    listed $67,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

17. 2019-12-09
    listed $67,500

    Show marketing remark (245 chars)

    Nice 2 bedroom home with large lot and big garage. Home has had new windows and new roof on home and garage. Cozy home as a starter or possibly to down size. Close to downtown. New garage door and opener just installed. Call for a showing today!

18. 2007-08-01
    soldstatus $51,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,910
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$713
• − Management: −$713
• − Depreciation: −$1,452
• Taxable income: $2,240
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $2,363/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: Tipton Community School District
• NCES district ID: 1927870
• Math proficiency: 62% ▼ -7.00%
• Reading proficiency: 72% ▲ 5.00%
• Median HH income: $55,497
• Composite: 57.37/100
• National rank: #1079
• State rank: #171 of 289 in IA

Livability — Tipton

• Score: 79/100
• State rank: #111
• US rank: #2123

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tipton, IA
• Population (ZIP): 5,186

Population outlook (Cedar County) Hauer SSP2

• Today (2025): 18,416 people
• By 2030: 18,294 · -0.7%
• By 2040: 17,771 · -3.5%
• By 2050: 16,841 · -8.6%
• By 2075: 14,503 · -21.2%
• By 2100: 11,301 · -38.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 3% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cedar

• 2024 margin: Strong R (+21.8) · D 38.4% · R 60.1% · Other 1.5%
• 2008→2024 swing: -31.4pp toward R · 2008: 9.6pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+17.0 2016: R+18.1 2012: D+4.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.33%
• Current HPI: 203.8004
• 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

-3.1% since first listed

11 events — show timeline

• 2026-06-08 Pending — ICAARMLS
• 2026-05-28 Price Changed $49,900 ICAARMLS
• 2026-05-13 Listed $65,000 ICAARMLS
• 2020-03-12 Sold (MLS) $58,500 MRED as Distributed by MLS Grid
• 2020-03-12 Sold (MLS) $58,500 CRAAR, CDRMLS
• 2020-03-12 Sold (MLS) $58,500 RMLSA as Distributed by MLS Grid
• 2019-12-09 Listed $67,500 MRED as Distributed by MLS Grid
• 2019-12-09 Listed $67,500 CRAAR, CDRMLS
• 2019-12-09 Listed $67,500 RMLSA as Distributed by MLS Grid
• 2019-12-09 Listed $67,500 ICAARMLS
• 2007-08-01 Sold (Public Records) $51,500 Public Records

Property tax history

+11.4%/yr

Latest (2025): $2,755 · +113.3% YoY. Source: county tax records.