537 6th Ave S · Clinton, IA 52732

$39,900

4 bd · 5.5 ba · 3,201 sqft · Other public records · 11 Days on market

Built 1900 9,147 sqft lot ↓ 26% since listing

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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 +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

4 plex is up for sale! Large lot with potential! Detached garage! Property to be sold in AS IS condition.

Key facts

• Large lot
• Detached garage
• 9,147 sq ft lot

Tags

• LARGE LOT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building; Property is over 100 years old; Built before 1978; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Level lot; Lot dimensions approximately 66 x 140

Interior

• Heating & cooling: Natural gas heating
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/5.5-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 32.1% 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.
• Zoned schools: Clinton High School (math 43% / reading 57%, grade D+, #313 of 336 statewide, top 93%, 981 students, 49% FRL) — zoned schools at 49% FRL track the district average.
• 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $45k (53%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $39,900

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 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?
4. 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?
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: 3.60% ✓
• Cap rate: 32.14%
• Cash-on-cash: 92.30%
• DSCR: 5.11
• GRM: 2.3

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: 93.1%
• Equity multiple: 5.32×
• Total profit: $48,288
• Equity at exit: $5,949

10-year hold

• IRR: 95.9%
• Equity multiple: 11.08×
• Total profit: $112,613
• Equity at exit: $3,450

Cash invested: $11,172 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,437 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $859

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 35%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $39,900 Active 11 DOM
2. 2026-06-18
   days on market $39,900 Active 10 DOM
3. 2026-06-17
   days on market $39,900 Active 9 DOM
4. 2026-06-16
   days on market $39,900 Active 8 DOM
5. 2026-06-15
   days on market $39,900 Active 7 DOM
6. 2026-06-14
   days on market $39,900 Active 5 DOM
7. 2026-06-12
   days on market $39,900 Active 4 DOM
8. 2026-06-09
   remarks 105-char remark
9. 2026-06-09
   pricestatusdays on marketlisting id $39,900 Active 1 DOM
10. 2026-05-22
    status Active
11. 2026-03-29
    historical
12. 2026-01-14
    status Active
13. 2026-01-14
    historical
14. 2026-01-08
    status Active
15. 2026-01-06
    historical
16. 2026-01-05
    historical
17. 2025-09-29
    listed Active
18. 2025-08-31
    historical
19. 2025-08-03
    historical
20. 2025-08-03
    status Active
21. 2025-07-11
    status Pending
22. 2025-03-08
    status Pending
23. 2025-03-07
    historical
24. 2024-11-08
    listed Active
25. 2021-08-06
    historical
26. 2008-07-30
    soldstatus $63,200
27. 2008-07-30
    soldstatus $63,200
28. 2006-09-27
    listed $85,000
29. 2006-09-27
    listed $85,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $17,242
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$1,161
• Taxable income: $10,289
• Est. tax owed @ 24.0%: −$2,469
• After-tax cash flow: $7,843/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

-25.6% since first listed

20 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-03-29 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-14 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
• 2025-09-29 Listed — RMLSA as Distributed by MLS Grid
• 2025-08-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-08-03 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-08-03 Relisted — RMLSA as Distributed by MLS Grid
• 2025-07-11 Pending — RMLSA as Distributed by MLS Grid
• 2025-03-08 Pending — RMLSA as Distributed by MLS Grid
• 2025-03-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-11-08 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2008-07-30 Sold (MLS) $63,200 RMLSA as Distributed by MLS Grid
• 2008-07-30 Sold (MLS) $63,200 MRED as Distributed by MLS Grid
• 2006-09-27 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2006-09-27 Listed $85,000 MRED as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $3,205 · +94.1% YoY. Source: county tax records.