1722 Marshall St · Boone, IA 50036

$34,900

1 bd · 1.0 ba · 528 sqft · SingleFamily public records · 3 Days on market

Built 1900

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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

This 1 bedroom, 1 bath home is located in a nice area and conveniently located close to schools, medical facilities, shopping, and everyday amenities. The home needs updates and repairs and is being sold AS IS, making it an excellent opportunity for investors, flippers, or buyers looking to build equity through improvements. Features include nice size lot, established neighborhood, and strong potential for renovation or rental income. Bring your vision and transform this property into a great investment or cozy home. 2 car detached garage. Priced to reflect condition. Schedule a showing today and explore the possibilities!

Key facts

• Nice size lot
• Rental income
• 2 garage spots

Tags

• NICE SIZE LOT
• ESTABLISHED NEIGHBORHOOD
• RENTAL INCOME

Property features AI

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family resale property
• Construction: Asphalt shingle roof
• Exterior features: Concrete road access

Interior

• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom
• Interior features: Unfinished basement; Resale condition

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($690 rent vs $35k).
• Cap rate 13.8% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% 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 $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.98% ✓
• Cap rate: 13.77%
• Cash-on-cash: 26.69%
• DSCR: 2.19
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $72,336
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2104 Boone St	0.30mi	1/1.0	600 (+14%)	9mo	$82,000	$137	56
1114 14th St	0.29mi	2/1.0 (+1)	576 (+9%)	14mo	$55,000	$95	54

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: 20.7%
• Equity multiple: 1.84×
• Total profit: $8,251
• Equity at exit: $5,204

10-year hold

• IRR: 28.9%
• Equity multiple: 3.59×
• Total profit: $25,268
• Equity at exit: $3,018

Cash invested: $9,772 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 215
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $690 high
• Mortgage (P&I): −$183
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$145
• Net cashflow: $217

Break-even live

Break-even rent $415

Max offer price $34,900

Occupancy floor 64%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 22nd St #15 Boone, IA	—	1.0	450	$595	$1.32	43d	1	0.40mi
505 1/2 11th St Boone, IA	1.0	1.0	495	$625	$1.26	43d	1	0.65mi
1104 8th St Boone, IA	1.0	1.0	600	$647	$1.08	13d	3	0.74mi
1202 8th St Unit 3 Boone, IA	2.0	1.0	620	$825	$1.33	43d	1	0.74mi
724 7th St Unit 2 Boone, IA	2.0	1.0	700	$825	$1.18	43d	1	0.83mi
610 Greene St Unit 1 Boone, IA	1.0	1.0	580	$775	$1.34	43d	1	0.86mi
608 Greene St Unit 735-5 Boone, IA	1.0	1.5	580	$775	$1.34	43d	1	0.87mi
527 Boone St Unit 1 Boone, IA	1.0	1.0	478	$585	$1.22	43d	1	0.89mi

Listing history 4 events

1. 2026-06-18
   days on market $34,900 Active 3 DOM
2. 2026-06-17
   days on market $34,900 Active 2 DOM
3. 2026-06-16
   remarks 630-char remark
4. 2026-06-16
   listed $34,900 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: $1,564 · $130/mo
• Projected year-2 tax: $1,564 · $130/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: $8,282
• − Mortgage interest: −$1,955
• − Property taxes: −$1,564
• − Insurance: −$174
• − Repairs & maintenance: −$663
• − Management: −$663
• − Depreciation: −$1,015
• Taxable income: $2,248
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $2,069/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

1 event — show timeline

• 2026-06-15 Listed $34,900 DMMLS

Property tax history

+30.7%/yr

Latest (2025): $1,564 · +209.1% YoY. Source: county tax records.