116 E 4th St · Muscatine, IA 52761

$139,500

3 bd · 3.0 ba · 2,398 sqft · MultiFamily public records · 122 Days on market

Built 1860 4,140 sqft lot

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Why this score? — see what drove the C+ 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Well maintained duplex ready for a new owner. First floor offers office space with access to the public and also living quarters.

Key facts

• 4,140 sq ft lot
• Built 1860
• Listed 121 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive. Per door: $158/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#358 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety D+, amenities F, commute F.
• Muscatine Community School District (town): math 55% / reading 59% proficiency, ranked #257 of 289 in IA (top 89%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 188 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 65 units permitted in Muscatine County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $964 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Muscatine County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $140k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.19% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,417
• Equity at exit: $20,800

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $24,018
• Equity at exit: $12,061

Cash invested: $39,060 (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 52761

• Active inventory: 188
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$732
• Tax from tax record: −$208 /mo · $2,494/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $316

Break-even live

Break-even rent $1,263

Max offer price $139,500

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$1,662
Total (2 units)			$1,663

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 W 3rd St Muscatine, IA	3.0	2.0	1672	$1,350	$0.81	13d	1	0.44mi
1203 Sunrise Cir Muscatine, IA	3.0	2.0	1830	$1,545	$0.84	43d	1	1.37mi

Listing history 19 events

1. 2026-06-18
   days on market $139,500 Active 122 DOM
2. 2026-06-17
   days on market $139,500 Active 121 DOM
3. 2026-06-17
   price $139,500 Active 120 DOM
4. 2026-06-16
   days on market $145,000 Active 120 DOM
5. 2026-06-15
   days on market $145,000 Active 119 DOM
6. 2026-06-13
   days on market $145,000 Active 117 DOM
7. 2026-06-12
   days on market $145,000 Active 116 DOM
8. 2026-06-09
   days on market $145,000 Active 113 DOM
9. 2026-06-08
   days on market $145,000 Active 112 DOM
10. 2026-06-07
    days on market $145,000 Active 111 DOM
11. 2026-06-07
    days on market $145,000 Active 110 DOM
12. 2026-06-04
    days on market $145,000 Active 107 DOM
13. 2026-06-02
    days on market $145,000 Active 106 DOM
14. 2026-06-01
    days on market $145,000 Active 105 DOM
15. 2026-05-31
    days on market $145,000 Active 104 DOM
16. 2026-05-31
    days on market $145,000 Active 103 DOM
17. 2026-04-13
    price $145,000 129-char remark

    Show marketing remark (129 chars)

    Well maintained duplex ready for a new owner. First floor offers office space with access to the public and also living quarters.

18. 2026-02-16
    listed $150,000 Active 129-char remark

    Show marketing remark (129 chars)

    Well maintained duplex ready for a new owner. First floor offers office space with access to the public and also living quarters.

19. 1981-12-28
    soldstatus $42,000

ⓘ 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: $2,494 · $208/mo
• Projected year-2 tax: $2,494 · $208/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 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,956
• − Mortgage interest: −$7,814
• − Property taxes: −$2,494
• − Insurance: −$698
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$4,058
• Taxable income: $1,699
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $3,387/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: Muscatine Community School District
• NCES district ID: 1920130
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $50,193
• Composite: 48.6/100
• National rank: #2110
• State rank: #257 of 289 in IA

Livability — Muscatine

• Score: 70/100
• State rank: #358
• US rank: #7508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muscatine, IA
• City population: 29,800
• Population (ZIP): 29,800

Population outlook (Muscatine County) Hauer SSP2

• Today (2025): 44,820 people
• By 2030: 45,461 · +1.4%
• By 2040: 46,765 · +4.3%
• By 2050: 48,609 · +8.5%
• By 2075: 56,014 · +25.0%
• By 2100: 63,513 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 11% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Muscatine

• 2024 margin: R (+14.9) · D 41.7% · R 56.6% · Other 1.7%
• 2008→2024 swing: -30.6pp toward R · 2008: 15.7pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+7.0 2016: R+6.6 2012: D+15.5 2008: D+15.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.30%
• Current HPI: 182.4493
• 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

+245.2% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $145,000 Muscatine BOR
• 2026-02-16 Listed $150,000 Muscatine BOR
• 1981-12-28 Sold (Public Records) $42,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $2,494 · +2.8% YoY. Source: county tax records.