2015 Garfield St · Clinton, IA 52732

$25,000

2 bd · 1.0 ba · 1,130 sqft · SingleFamily public records · 110 Days on market

Built 1919 3,125 sqft lot ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Strictly sold "as-is". Must sign Release of Liability to enter. All contents will remain.

Key facts

• 3,125 sq ft lot
• Built 1919
• Listed 110 days

Property features AI

Finance

• Financial info: No special service area

Exterior

• Parking: Detached parking, no garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; 1.5-story; Fee simple ownership; Over 100 years old
• Construction: Frame construction with aluminum siding; Block foundation
• Exterior features: Level lot; Lot dimensions approximately 25 x 125; Zoned residential

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Full, unfinished basement with egress window

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 36.8% vs local median 6.7% in Clinton — 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 75/100 on livability (#222 in IA, #4,192 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D, employment D.
• Clinton Community School District (town): math 52% / reading 56% proficiency, ranked #273 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 246 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 4.29% ✓
• Cap rate: 36.79%
• Cash-on-cash: 108.92%
• DSCR: 5.85
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $94,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2015 Garfield St	0.00mi	2/1.0	1,130 (0%)	1mo	$8,000	$7	99
1919 N 7th St	0.53mi	2/1.5	1,182 (+5%)	4mo	$67,000	$57	62
511 16th Ave N	0.63mi	3/1.0 (+1)	1,106 (-2%)	6mo	$62,000	$56	57
718 17th Ave N	0.65mi	2/1.5	1,192 (+6%)	2mo	$100,000	$84	56
1614 Pershing Blvd	0.45mi	3/1.0 (+1)	1,018 (-10%)	6mo	$123,500	$121	52
1619 Pershing Blvd	0.42mi	2/1.0	961 (-15%)	9mo	$105,000	$109	48
1718 N 6th St	0.57mi	3/1.5 (+1)	1,072 (-5%)	13mo	$135,000	$126	47
510 15th Ave N	0.65mi	3/1.0 (+1)	1,053 (-7%)	11mo	$87,500	$83	44
1005 23rd Ave N	0.72mi	3/1.5 (+1)	1,040 (-8%)	8mo	$148,000	$142	39
722 Main Ave	0.70mi	3/1.0 (+1)	988 (-13%)	5mo	$25,000	$25	38
2511 N 4th St	0.58mi	2/2.0	968 (-14%)	9mo	$78,000	$81	37
2621 N 3rd St	0.64mi	3/2.0 (+1)	1,294 (+14%)	1mo	$174,000	$134	36

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: —
• Equity multiple: 6.21×
• Total profit: $36,458
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 13.00×
• Total profit: $84,019
• Equity at exit: $2,162

Cash invested: $7,000 (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 52732

• Home prices YoY: -34.9%
• Active inventory: 246
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $635

Break-even live

Break-even rent $268

Max offer price $25,000

Occupancy floor 36%

Sensitivity live

Price	-10% $650	-5% $642	+0% $635	+5% $628	+10% $621
Rent	-10% $551	-5% $593	+0% $635	+5% $678	+10% $720
Rate	-1.0pp $648	-0.5pp $642	base $635	+0.5pp $629	+1.0pp $622

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-22
   listed $25,000 Active
2. 2026-05-22
   price $25,000
3. 2026-05-13
   soldstatus Closed
4. 2026-04-09
   status Pending
5. 2026-03-20
   price $15,900
6. 2026-02-03
   price $19,900
7. 2026-01-15
   status Active
8. 2026-01-14
   historical
9. 2026-01-08
   status Active
10. 2026-01-06
    historical
11. 2026-01-05
    historical
12. 2025-12-15
    listed Active
13. 2018-10-29
    soldstatus $26,000

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $841 · $70/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 · 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,866
• − Mortgage interest: −$1,400
• − Property taxes: −$841
• − Insurance: −$125
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$727
• Taxable income: $7,714
• Est. tax owed @ 24.0%: −$1,851
• After-tax cash flow: $5,773/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: Clinton Community School District
• NCES district ID: 1907710
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $40,900
• Composite: 45.22/100
• National rank: #2666
• State rank: #273 of 289 in IA

Livability — Clinton

• Score: 75/100
• State rank: #222
• US rank: #4192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IA
• County: Clinton County · 25,880 people
• City population: 25,880
• Metro: Clinton, IA
• Population (ZIP): 25,880
• Household income: $61,105
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 889.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.23%
• Current HPI: 155.3426
• Rent YoY: —
• Metro: Clinton, 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

-3.8% since first listed

13 events — show timeline

• 2026-05-22 Listed $25,000 MRED as Distributed by MLS Grid
• 2026-05-22 Price Changed $25,000 MRED as Distributed by MLS Grid
• 2026-05-13 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-04-09 Pending — MRED as Distributed by MLS Grid
• 2026-03-20 Price Changed $15,900 MRED as Distributed by MLS Grid
• 2026-02-03 Price Changed $19,900 MRED as Distributed by MLS Grid
• 2026-01-15 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-15 Listed — RMLSA as Distributed by MLS Grid
• 2018-10-29 Sold (Public Records) $26,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $841 · +272.1% YoY. Source: county tax records.