725 S Marion St · Boone, IA 50036

$79,900

4 bd · 2.5 ba · 1,640 sqft · SingleFamily public records · 518 Days on market

Built 1870 0.65 ac lot $49/sqft · 69% below area ↓ 53% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 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

In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

Key facts

• Wrap around porch
• 2/3 of an acre
• 0.65 acre lot

Tags

• WRAP AROUND PORCH
• 2/3 OF AN ACRE

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.6% in Boone — 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 (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 215 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); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 518 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 6070% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 518 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.64% ✓
• Cap rate: 11.71%
• Cash-on-cash: 19.36%
• DSCR: 1.86
• GRM: 5.1

CMA / ARV

• ARV (median comp): $255,923
• List price: $79,900
• Delta: -68.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Mcpherson St	0.62mi	4/3.0	1,664 (+2%)	3mo	$260,000	$156	64
121 S State St	0.47mi	4/4.0	1,568 (-4%)	2mo	$3,700,000	$2,360	64
812 S Montana St	0.59mi	4/3.0	1,636 (-0%)	24mo	$375,000	$229	50
223 Marion St	0.67mi	4/2.0	1,860 (+13%)	2mo	$212,000	$114	43
119 S Main St	0.48mi	3/2.0 (-1)	1,456 (-11%)	11mo	$165,850	$114	43
109 Main St	0.61mi	3/2.0 (-1)	1,724 (+5%)	21mo	$88,500	$51	39
906 Southridge Dr	0.71mi	3/2.0 (-1)	1,736 (+6%)	19mo	$285,000	$164	34

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: 11.4%
• Equity multiple: 1.45×
• Total profit: $10,140
• Equity at exit: $11,913

10-year hold

• IRR: 20.5%
• Equity multiple: 2.74×
• Total profit: $38,821
• Equity at exit: $6,908

Cash invested: $22,372 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 215
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $361

Break-even live

Break-even rent $853

Max offer price $79,900

Occupancy floor 67%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
680 S Marion St Boone, IA	2.0–3.0	1.0–2.0	1042	$1,295	$1.24	14d	37	0.20mi
115 S Plum St Unit 117 Boone, IA	3.0	1.0	1200	$1,050	$0.88	44d	1	0.79mi
411 W 9th St Boone, IA	3.0	2.0	1275	$1,100	$0.86	44d	1	1.11mi
1109 Ida Pl Boone, IA	3.0	2.5	1715	$1,950	$1.14	44d	1	1.41mi

Listing history 35 events

1. 2026-06-18
   days on market $79,900 Active 518 DOM
2. 2026-06-17
   days on market $79,900 Active 517 DOM
3. 2026-06-16
   days on market $79,900 Active 516 DOM
4. 2026-06-15
   days on market $79,900 Active 515 DOM
5. 2026-06-13
   days on market $79,900 Active 513 DOM
6. 2026-06-12
   days on market $79,900 Active 512 DOM
7. 2026-06-09
   days on market $79,900 Active 509 DOM
8. 2026-06-08
   days on market $79,900 Active 508 DOM
9. 2026-06-07
   days on market $79,900 Active 507 DOM
10. 2026-06-05
    days on market $79,900 Active 505 DOM
11. 2026-06-04
    days on market $79,900 Active 503 DOM
12. 2026-06-02
    days on market $79,900 Active 502 DOM
13. 2026-06-01
    days on market $79,900 Active 501 DOM
14. 2026-05-31
    days on market $79,900 Active 500 DOM
15. 2026-05-31
    days on market $79,900 Active 499 DOM
16. 2026-04-14
    price $79,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

17. 2026-04-01
    status Active 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

18. 2026-04-01
    historical 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

19. 2026-03-09
    price $84,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

20. 2026-02-03
    price $89,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

21. 2026-01-05
    price $94,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

22. 2025-10-30
    price $99,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

23. 2025-10-01
    price $109,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

24. 2025-09-23
    historical $1,295
25. 2025-09-20
    listed $1,295
26. 2025-09-09
    price $119,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

27. 2025-09-02
    status Active 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

28. 2025-09-01
    historical 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

29. 2025-08-15
    price $125,000 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

30. 2025-06-22
    price $129,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

31. 2025-04-30
    price $134,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

32. 2025-03-28
    price $144,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

33. 2025-03-04
    price $149,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

34. 2025-02-13
    price $159,900 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

35. 2025-01-15
    listed $169,900 Active 209-char remark

    Show marketing remark (209 chars)

    In town, but country feel. With a nice, new roads to now allow you quick access either the East or the West. Attached garage, large kitchen. Wrap around 3 season porch area. Located on 2/3 of an acre, in town!

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $2,660 · $222/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥103°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: $15,721
• − Mortgage interest: −$4,476
• − Property taxes: −$2,660
• − Insurance: −$400
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$2,324
• Taxable income: $3,346
• Est. tax owed @ 24.0%: −$803
• After-tax cash flow: $3,529/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

-53.0% since first listed

20 events — show timeline

• 2026-04-14 Price Changed $79,900 CIBOR
• 2026-04-01 Relisted — CIBOR
• 2026-04-01 Delisted — CIBOR
• 2026-03-09 Price Changed $84,900 CIBOR
• 2026-02-03 Price Changed $89,900 CIBOR
• 2026-01-05 Price Changed $94,900 CIBOR
• 2025-10-30 Price Changed $99,900 CIBOR
• 2025-10-01 Price Changed $109,900 CIBOR
• 2025-09-23 Rental Removed $1,295 APPFOLIO
• 2025-09-20 Listed for Rent $1,295 APPFOLIO
• 2025-09-09 Price Changed $119,900 CIBOR
• 2025-09-02 Relisted — CIBOR
• 2025-09-01 Delisted — CIBOR
• 2025-08-15 Price Changed $125,000 CIBOR
• 2025-06-22 Price Changed $129,900 CIBOR
• 2025-04-30 Price Changed $134,900 CIBOR
• 2025-03-28 Price Changed $144,900 CIBOR
• 2025-03-04 Price Changed $149,900 CIBOR
• 2025-02-13 Price Changed $159,900 CIBOR
• 2025-01-15 Listed $169,900 CIBOR

Property tax history

+4.0%/yr

Latest (2025): $2,660 · +4.1% YoY. Source: county tax records.