112 E Strait St · Gilman, IA 50106

$135,000

3 bd · 2.0 ba · 1,918 sqft · SingleFamily public records · 64 Days on market

Built 1916 0.68 ac lot $70/sqft · 19% below area Est $166k · 19% under

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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 +17.4/30.0
• ARV discount +15.0/15.0
• Appreciation +7.4/10.0
• Schools +5.8/10.0
• DSCR +5.4/10.0
• 1% rule +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great Starter home to make it your own. 2 Story home with so much potential. 4 bedrooms 2 Plus baths. Enter the home through the enclosed porch. Hardwood floors through out. Very spacious living room with open staircase to the second floor. Nice sized formal dining room. Kitchen has so much potential. Laundry room and toilet just off the bedroom and access to the garage. Main floor bedroom with full bath. Second floor features 3 very nice sized bedrooms and a Huge bathroom with plenty of storage. Basement has a family room and possible office. Plenty of storage. Home has a newer metal roof, furnace, electrical panel and water manifold system. 2 window unit Ac stays with the home.

Key facts

• Open staircase
• Formal dining room
• Laundry room

Tags

• ENCLOSED PORCH
• HARDWOOD FLOORS
• OPEN STAIRCASE
• FORMAL DINING ROOM
• LAUNDRY ROOM
• MAIN FLOOR BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (10.1% below list).
• Recommended offer: $121k (10.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#447 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, employment A-; Watch: amenities F, commute F, health & safety D-.
• East Marshall Community School District (rural): math 63% / reading 73% proficiency, ranked #165 of 289 in IA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($933 loan paydown + $7k appreciation (4.8% local appreciation)).
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; list at $135k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,320 (10.1% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 9.3

CMA / ARV

• ARV (median comp): $166,284
• List price: $135,000
• Delta: -18.81%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W Church St	0.27mi	3/2.0	2,000 (+4%)	19mo	$195,000	$98	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.96×
• Total profit: $36,335
• Equity at exit: $75,215

10-year hold

• IRR: 15.8%
• Equity multiple: 3.77×
• Total profit: $104,811
• Equity at exit: $128,759

Cash invested: $37,800 (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 50106

• Home prices YoY: 4.1%
• Active inventory: 5
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $101

Break-even live

Break-even rent $1,085

Max offer price $135,000

Occupancy floor 87%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $135,000 Active 64 DOM
2. 2026-06-18
   days on market $135,000 Active 63 DOM
3. 2026-06-17
   days on market $135,000 Active 62 DOM
4. 2026-06-16
   days on market $135,000 Active 61 DOM
5. 2026-06-15
   days on market $135,000 Active 60 DOM
6. 2026-06-14
   days on market $135,000 Active 58 DOM
7. 2026-06-12
   days on market $135,000 Active 57 DOM
8. 2026-06-09
   days on market $135,000 Active 54 DOM
9. 2026-06-08
   days on market $135,000 Active 53 DOM
10. 2026-06-07
    days on market $135,000 Active 52 DOM
11. 2026-06-05
    days on market $135,000 Active 49 DOM
12. 2026-06-03
    days on market $135,000 Active 48 DOM
13. 2026-06-02
    days on market $135,000 Active 47 DOM
14. 2026-06-01
    days on market $135,000 Active 46 DOM
15. 2026-05-31
    days on market $135,000 Active 45 DOM
16. 2026-05-30
    days on market $135,000 Active 44 DOM
17. 2026-04-16
    listed $145,000 Active 688-char remark

    Show marketing remark (688 chars)

    Great Starter home to make it your own. 2 Story home with so much potential. 4 bedrooms 2 Plus baths. Enter the home through the enclosed porch. Hardwood floors through out. Very spacious living room with open staircase to the second floor. Nice sized formal dining room. Kitchen has so much potential. Laundry room and toilet just off the bedroom and access to the garage. Main floor bedroom with full bath. Second floor features 3 very nice sized bedrooms and a Huge bathroom with plenty of storage. Basement has a family room and possible office. Plenty of storage. Home has a newer metal roof, furnace, electrical panel and water manifold system. 2 window unit Ac stays with the home.

18. 2014-07-14
    soldstatus $56,000

ⓘ 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: $1,114 · $93/mo
• Projected year-2 tax: $1,617 · $135/mo
• Expected delta: +$503/yr (+$42/mo · 45.1%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,558
• − Mortgage interest: −$7,562
• − Property taxes: −$1,114
• − Insurance: −$675
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,927
• Taxable loss: −$1,049
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $1,469/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: East Marshall Community School District
• NCES district ID: 1900040
• Math proficiency: 63% ▼ -9.00%
• Reading proficiency: 73% ▬ 0.00%
• Median HH income: $55,218
• Composite: 58.17/100
• National rank: #1025
• State rank: #165 of 289 in IA

Livability — Gilman

• Score: 68/100
• State rank: #447
• US rank: #9787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilman, IA
• Population (ZIP): 1,121

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 41,166 people
• By 2030: 41,477 · +0.8%
• By 2040: 42,548 · +3.4%
• By 2050: 44,472 · +8.0%
• By 2075: 52,719 · +28.1%
• By 2100: 60,912 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 8% Italian 6% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marshall

• 2024 margin: R (+15.6) · D 41.4% · R 57.0% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: 9.3pp · 2024: -15.6pp
• All cycles: 2024: R+15.6 2020: R+7.7 2016: R+8.5 2012: D+8.9 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.84%
• Current HPI: 123.0459
• 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

+158.9% since first listed

2 events — show timeline

• 2026-04-16 Listed $145,000 IAR
• 2014-07-14 Sold (Public Records) $56,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $1,114 · -6.2% YoY. Source: county tax records.