537 8th Ave · Marion, IA 52302

$180,000

3 bd · 2.0 ba · 1,683 sqft · MultiFamily public records · 10 Days on market

Built 1900 5,750 sqft lot

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.8/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

UPPER AND LOWER DUPLEX. Lower is 2 bed 1 bathroom. upstairs is two large rooms, could be 1 bedroom and living room or 2 bedrooms. MOST OF THE PLUMBING HAS BEEN UPDATED. MAIN FLOOR HAS BEEN REDONE, UPSTAIRS NEEDS SOME FLOORING AND PAINT, BOTH BATHROOMS HAVE BEEN UPDATED WITH NEW PLUMBING. CURRENLTY VACANT. GO AND SHOW SELLER FINANCING IS AN OPTION OWNER IS A LICENSED AGENT IN THE STATE OF IOWA

Key facts

• 5,750 sq ft lot
• Built 1900
• Listed 9 days

Property features AI

Finance

• Other: Located at 537 8th Ave, Marion, IA; Directions: Take 10th Ave east in Marion, turn left onto 4th St, turn right onto 8th; duplex is on the right; Listing broker: Realty87; listing agent: Chris Puckett
• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property
• Construction: Frame construction; Vinyl siding
• Exterior features: 46 x 125 lot dimensions

Interior

• Interior features: Duplex / multi-family residential layout

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.6% vs local median 2.7% in Marion — 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 84/100 on livability (#19 in IA, #633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Marion Independent School District (suburban): math 68% / reading 70% proficiency, ranked #158 of 289 in IA (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Vernon Middle School (math 66% / reading 65%, grade A-, #153 of 246 statewide, top 62%, 668 students, 40% FRL); Marion High School (math 69% / reading 80%, grade B+, #89 of 336 statewide, top 30%, 722 students, 28% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 455 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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.
• Current owner paid $150k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,000

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 A-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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.26×
• Total profit: $13,235
• Equity at exit: $26,839

10-year hold

• IRR: 19.7%
• Equity multiple: 3.03×
• Total profit: $102,246
• Equity at exit: $15,563

Cash invested: $50,400 (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 52302

• Rents YoY: 8.4%
• Active inventory: 455
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$944
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $492

Break-even live

Break-even rent $1,474

Max offer price $180,000

Occupancy floor 72%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,096
Total (2 units)			$2,097

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 Brockman Ave Marion, IA	4.0	2.0	1590	$2,400	$1.51	13d	1	0.76mi
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	43d	1	0.91mi
2785 Ridgeview Way Marion, IA	3.0	1.5	2015	$1,650	$0.82	13d	1	1.12mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	21d	1	1.33mi

Listing history 8 events

1. 2026-06-19
   days on market $180,000 Active 10 DOM
2. 2026-06-18
   days on market $180,000 Active 9 DOM
3. 2026-06-17
   days on market $180,000 Active 8 DOM
4. 2026-06-16
   days on market $180,000 Active 7 DOM
5. 2026-06-15
   days on market $180,000 Active 6 DOM
6. 2026-06-14
   days on market $180,000 Active 4 DOM
7. 2026-06-13
   days on market $180,000 Active 3 DOM
8. 2026-06-09
   listed $180,000 Active 1 DOM

ⓘ 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: $1,748 · $146/mo
• Projected year-2 tax: $2,287 · $191/mo
• Expected delta: +$539/yr (+$45/mo · 30.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $25,164
• − Mortgage interest: −$10,083
• − Property taxes: −$1,748
• − Insurance: −$900
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − Depreciation: −$5,236
• Taxable income: $3,171
• Est. tax owed @ 24.0%: −$761
• After-tax cash flow: $5,143/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: Marion Independent School District
• NCES district ID: 1918690
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $49,541
• Composite: 58.49/100
• National rank: #997
• State rank: #158 of 289 in IA

Livability — Marion

• Score: 84/100
• State rank: #19
• US rank: #633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IA
• County: Linn County · 179,860 people
• City population: 42,706
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,706
• Household income: $87,983
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 940.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.98%
• Current HPI: 199.2949
• Rent YoY: ▲ 8.37%
• Metro: Cedar Rapids, 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

+89.7% since first listed

12 events — show timeline

• 2026-06-08 Listed $180,000 CRAAR, CDRMLS
• 2023-10-19 Delisted — CRAAR, CDRMLS
• 2023-08-29 Pending — CRAAR, CDRMLS
• 2023-08-22 Sold (Public Records) $150,000 Public Records
• 2023-08-18 Sold (MLS) $150,000 CRAAR, CDRMLS
• 2023-08-18 Sold (MLS) $150,000 CRAAR, CDRMLS
• 2023-07-17 Pending — CRAAR, CDRMLS
• 2023-06-11 Listed $154,000 CRAAR, CDRMLS
• 2022-10-12 Price Changed $154,900 CRAAR, CDRMLS
• 2022-09-14 Listed $159,000 CRAAR, CDRMLS
• 2018-02-28 Sold (MLS) $85,000 CRAAR, CDRMLS
• 2017-07-11 Listed $94,900 CRAAR, CDRMLS

Property tax history

+0.1%/yr

Latest (2025): $1,748 · +2.8% YoY. Source: county tax records.