206 & 208 E Minerva St · Albion, IA 50005

$159,900

3 bd · 2.0 ba · 1,750 sqft · SingleFamily public records · 5 Days on market

Built 2006 10,454 sqft lot Est $110k · 45% over

---

Why this score? — see what drove the F 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 +10.2/30.0
• Appreciation +5.5/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2006

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (25.0% below list).
• Recommended offer: $120k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#582 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Marshalltown High School (math 46% / reading 59%, grade C-, #298 of 336 statewide, top 89%, 1,582 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 8 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $1k appreciation (0.9% local appreciation)).
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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.

Recommended offer $119,891 (25.0% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.75% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $110,250
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 S Main St	0.20mi	3/2.0	1,877 (+7%)	4mo	$118,000	$63	75
201 E Brown St	0.19mi	3/2.0	1,580 (-10%)	7mo	$152,500	$97	69
301 W North St	0.45mi	4/1.0 (+1)	1,892 (+8%)	5mo	$76,000	$40	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.92×
• Total profit: $-3,526
• Equity at exit: $53,902

10-year hold

• IRR: 3.4%
• Equity multiple: 1.41×
• Total profit: $18,542
• Equity at exit: $71,104

Cash invested: $44,772 (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 50005

• Home prices YoY: 0.9%
• Active inventory: 8
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$134 /mo · $1,606/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-92

Break-even live

Break-even rent $1,315

Max offer price $143,674

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-47	+0% $-92	+5% $-137	+10% $-182
Rent	-10% $-187	-5% $-139	+0% $-92	+5% $-44	+10% $3
Rate	-1.0pp $-11	-0.5pp $-51	base $-92	+0.5pp $-133	+1.0pp $-175

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2024-12-16
   soldstatus $160,000
2. 2024-11-29
   soldstatus $159,900 Closed 673-char remark

   Show marketing remark (673 chars)

   Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

3. 2024-10-30
   status Pending 673-char remark

   Show marketing remark (673 chars)

   Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

4. 2024-10-30
   status Pending

   Show marketing remark (673 chars)

   Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

5. 2024-10-25
   listed $159,900 Active 673-char remark

   Show marketing remark (673 chars)

   Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

6. 2024-10-25
   listed $159,900 Active

   Show marketing remark (673 chars)

   Charming small town retreat with expansive yard and abundant space! This property comes with an extra lot making the property almost half an acre of land! Nestled in the heart of Albion, this stunning 3 bed, 2 bath home offers the perfect blend of small town charm and modern comfort. With nearly 2,000 square feet finished living space, this property boasts ample room for relaxation, entertainment and everyday living. This home is perfect for families seeking a peaceful, small town lifestyle. Come experience the tranquility and charm of small-town living in this incredible property. Call today for a showing! All information obtained from seller and public records.

7. 2023-08-22
   soldstatus $145,000
8. 2023-08-18
   soldstatus $145,000 Closed
9. 2023-06-12
   historical
10. 2023-06-09
    listed $145,000
11. 2019-08-08
    soldstatus $115,500
12. 2019-08-07
    soldstatus $115,500
13. 2019-06-12
    listed $118,900
14. 1977-02-23
    soldstatus $16,000

ⓘ 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: $1,606 · $134/mo
• Projected year-2 tax: $2,058 · $172/mo
• Expected delta: +$452/yr (+$38/mo · 28.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $14,387
• − Mortgage interest: −$8,957
• − Property taxes: −$1,606
• − Insurance: −$800
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$4,652
• Taxable loss: −$3,929
• Est. tax savings @ 24.0%: +$943
• After-tax cash flow: $-159/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 — Albion

• Score: 65/100
• State rank: #582
• US rank: #13234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, IA
• Population (ZIP): 830

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: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 26% Hispanic / Latino 3% Native American 2% Two or more races 2%
• Common ancestry: Portuguese 6% Lithuanian 2% Iranian 1%
• Foreign-born: 23% · Vietnam, Canada
• Languages at home: 75% English-only · Vietnamese 24% Spanish 2%

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: ▲ 0.92%
• Current HPI: 106.3038
• 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

+900.0% since first listed

14 events — show timeline

• 2024-12-16 Sold (Public Records) $160,000 Public Records
• 2024-11-29 Sold (MLS) $159,900 IAR
• 2024-10-30 Pending — IAR
• 2024-10-30 Pending — DMMLS
• 2024-10-25 Listed $159,900 DMMLS
• 2024-10-25 Listed $159,900 IAR
• 2023-08-22 Sold (Public Records) $145,000 Public Records
• 2023-08-18 Sold (MLS) $145,000 IAR
• 2023-06-12 Delisted — IAR
• 2023-06-09 Listed $145,000 IAR
• 2019-08-08 Sold (Public Records) $115,500 Public Records
• 2019-08-07 Sold (MLS) $115,500 IAR
• 2019-06-12 Listed $118,900 IAR
• 1977-02-23 Sold (Public Records) $16,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,606 · +25.3% YoY. Source: county tax records.