1004 S 9th Ave · Marshalltown, IA 50158

$109,000

3 bd · 1.0 ba · 1,123 sqft · SingleFamily public records · 48 Days on market

Built 1948 6,750 sqft lot $97/sqft · 25% below area Est $145k · 25% under

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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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks with this 3-bedroom, 1-bath home offering solid potential for the right buyer. Whether you're looking for an affordable entry into homeownership or your next investment property, this one is worth a look. The main level features a functional layout with 2 bedrooms and the 3rd bedroom being upstairs. The partially finished lower level adds extra space for a family room, home office, or storage. Outside, you?ll find a spacious, fully fenced backyard?ideal for pets, entertaining, or future improvements?along with a detached single-car garage for added convenience. This home is being sold as-is and will require some updates, but with the right vision, it has the potential to

Key facts

• 6,750 sq ft lot
• Garage
• Built 1948

Tags

• FULLY FENCED BACKYARD
• DETACHED SINGLE-CAR GARAGE
• PARTIALLY FINISHED LOWER LEVEL

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Construction: Asphalt shingle roof; Block foundation; 400 sq ft of finished below-grade space
• Exterior features: Residential zoning

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $54 ($647/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 $107k (1.6% below list).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.5% in Marshalltown — 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 78/100 on livability (#133 in IA, #2,464 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, amenities F.
• Marshalltown Community School District (town): math 50% / reading 52% proficiency, ranked #278 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 8.5

CMA / ARV

• ARV (median comp): $145,320
• List price: $109,000
• Delta: -24.99%
• 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
927 S 9th Ave	0.05mi	2/1.0 (-1)	1,050 (-6%)	5mo	$119,900	$114	78
916 S 8th Ave	0.09mi	2/1.0 (-1)	1,224 (+9%)	0mo	$135,000	$110	76
1025 S 8th Ave	0.13mi	3/2.0	1,184 (+5%)	8mo	$169,900	$143	74
908 S 11th Ave	0.19mi	3/1.0	1,008 (-10%)	4mo	$125,000	$124	71
707 May St	0.24mi	2/1.0 (-1)	1,064 (-5%)	8mo	$60,000	$56	68
806 Henry Dr	0.25mi	4/2.0 (+1)	1,188 (+6%)	2mo	$214,500	$181	68
1013 S 10th Ave	0.06mi	3/2.5	960 (-14%)	1mo	$179,900	$187	66
1016 E Anson St	0.20mi	3/2.0	1,275 (+14%)	9mo	$107,500	$84	56
903 S 2nd Ave	0.65mi	4/1.0 (+1)	1,175 (+5%)	1mo	$96,500	$82	56
214 E High St	0.55mi	3/1.0	1,008 (-10%)	4mo	$134,900	$134	54
805 S 5th Ave	0.40mi	4/2.0 (+1)	1,200 (+7%)	9mo	$100,000	$83	53
1704 Rainbow Dr	0.67mi	2/1.0 (-1)	1,006 (-10%)	9mo	$95,500	$95	39

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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-14,190
• Equity at exit: $16,252

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-7,771
• Equity at exit: $9,424

Cash invested: $30,520 (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 50158

• Active inventory: 161
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$177 /mo · $2,122/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $54

Break-even live

Break-even rent $1,005

Max offer price $109,000

Occupancy floor 90%

Sensitivity live

Price	-10% $116	-5% $85	+0% $54	+5% $23	+10% $-8
Rent	-10% $-31	-5% $11	+0% $54	+5% $96	+10% $139
Rate	-1.0pp $109	-0.5pp $82	base $54	+0.5pp $26	+1.0pp $-3

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 S 7th Ave Unit 605-01 Marshalltown, IA	2.0	1.0	784	$700	$0.89	44d	1	0.38mi
511 S 7th Ave Marshalltown, IA	2.0	1.0	784	$738	$0.94	44d	2	0.40mi
901 E Olive St Marshalltown, IA	2.0–3.0	1.5	1200	$1,550	$1.29	44d	4	0.57mi
208 Glenda Dr Marshalltown, IA	2.0	1.0	831	$738	$0.89	44d	3	1.49mi

Listing history 20 events

1. 2026-06-18
   status $109,000 Pending 48 DOM
2. 2026-06-18
   days on market $109,000 Active 48 DOM
3. 2026-06-17
   days on market $109,000 Active 47 DOM
4. 2026-06-16
   days on market $109,000 Active 46 DOM
5. 2026-06-15
   days on market $109,000 Active 45 DOM
6. 2026-06-14
   days on market $109,000 Active 43 DOM
7. 2026-06-12
   days on market $109,000 Active 42 DOM
8. 2026-06-09
   days on market $109,000 Active 39 DOM
9. 2026-06-08
   days on market $109,000 Active 38 DOM
10. 2026-06-07
    days on market $109,000 Active 37 DOM
11. 2026-06-05
    days on market $109,000 Active 34 DOM
12. 2026-06-03
    days on market $109,000 Active 33 DOM
13. 2026-06-02
    days on market $109,000 Active 32 DOM
14. 2026-06-01
    days on market $109,000 Active 31 DOM
15. 2026-05-31
    days on market $109,000 Active 30 DOM
16. 2026-05-30
    days on market $109,000 Active 29 DOM
17. 2026-05-11
    price $113,999 705-char remark
18. 2026-04-30
    listed $119,000 Active 705-char remark
19. 2009-11-11
    soldstatus $89,500
20. 2002-11-01
    soldstatus $76,300

ⓘ 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: $2,122 · $177/mo
• Projected year-2 tax: $2,122 · $177/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°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: $12,877
• − Mortgage interest: −$6,106
• − Property taxes: −$2,122
• − Insurance: −$545
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,171
• Taxable loss: −$1,127
• Est. tax savings @ 24.0%: +$270
• After-tax cash flow: $917/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: Marshalltown Community School District
• NCES district ID: 1918720
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $47,877
• Composite: 43.41/100
• National rank: #3015
• State rank: #278 of 289 in IA

Livability — Marshalltown

• Score: 78/100
• State rank: #133
• US rank: #2464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshalltown, IA
• County: Marshall County · 31,396 people
• City population: 31,396
• Metro: Marshalltown, IA
• Population (ZIP): 31,396
• Household income: $70,367
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 369.0

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 41,166 people
• By 2030: 41,477 · +0.8%
• By 2040: 42,548 · +3.4%
• By 2050: 44,472 · +8.0%
• By 2075: 52,719 · +28.1%
• By 2100: 60,912 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 30% Two or more races 14% Asian 5% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Portuguese 3% Italian 2% Iranian 1%
• Foreign-born: 17% · Canada, Philippines, China
• Languages at home: 71% English-only · Spanish 24% Other Asian/Pacific 4% French/Haitian/Cajun 1%

Political lean MEDSL · Marshall

• 2024 margin: R (+15.6) · D 41.4% · R 57.0% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: 9.3pp · 2024: -15.6pp
• All cycles: 2024: R+15.6 2020: R+7.7 2016: R+8.5 2012: D+8.9 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.80%
• Current HPI: 177.4692
• Rent YoY: —
• Metro: Marshalltown, 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

+42.9% since first listed

6 events — show timeline

• 2026-06-18 Pending — DMMLS
• 2026-05-28 Price Changed $109,000 DMMLS
• 2026-05-11 Price Changed $113,999 DMMLS
• 2026-04-30 Listed $119,000 DMMLS
• 2009-11-11 Sold (Public Records) $89,500 Public Records
• 2002-11-01 Sold (Public Records) $76,300 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,122 · +17.1% YoY. Source: county tax records.