318 N Main St · Maquoketa, IA 52060

$229,900

6 bd · 5.0 ba · 3,371 sqft · MultiFamily public records · 11 Days on market

Built 1865 5,110 sqft lot

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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 +4.6/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Excellent cash-flow opportunity in the heart of Maquoketa! This 4-plex at 318 N Main St. features 7 total bedrooms across 4 units (3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio), offering a strong rental diversification and steady income. With over 3,300 square feet of finished living space, off-street parking, and a prime location near downtown amenities, this property is a turnkey addition to any portfolio.

Key facts

• 4-plex
• Off-street parking
• Turnkey addition

Tags

• CASH-FLOW OPPORTUNITY
• 4-PLEX
• STRONG RENTAL DIVERSIFICATION
• OFF-STREET PARKING
• TURNKEY ADDITION

Property features AI

Finance

• Financial info: Existing units with market rents (examples): two 1-bed units at about $625–$650, one 2-bed unit at about $850, one 3-bed unit at about $650

Exterior

• Parking: Off-street parking
• Security: Fire escape
• Home design: Residential income property; Quadplex; Two levels
• Construction: Block and stone foundation
• Exterior features: Shingle roof; Lot roughly 73 x 70; Zoned R

Interior

• Kitchen: Refrigerator; Range; Dishwasher
• Bedrooms: Multiple 1-bedroom units; One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: One-bath units and two-bath units (mix by unit type)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Fire escape; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).

Location & tenants

• Location reads 70/100 on livability (#362 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Maquoketa Community School District (town): math 52% / reading 57% proficiency, ranked #270 of 289 in IA (top 93%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maquoketa Community High School (math 63% / reading 68%, grade B, #204 of 336 statewide, top 61%, 498 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 20 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Jackson County population projected at -15% 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 $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 2y ago 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.
• Current owner paid $182k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1865 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1865 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.50% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.54%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (median comp): $143,449
• List price: $229,900
• Delta: 60.27%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $43,157
• Equity at exit: $34,279

10-year hold

• IRR: 25.2%
• Equity multiple: 3.19×
• Total profit: $141,051
• Equity at exit: $19,878

Cash invested: $64,372 (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 52060

• Home prices YoY: -21.2%
• Active inventory: 35
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $3,450 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $1,263

Break-even live

Break-even rent $1,851

Max offer price $229,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,393	-5% $1,328	+0% $1,263	+5% $1,198	+10% $1,133
Rent	-10% $990	-5% $1,127	+0% $1,263	+5% $1,399	+10% $1,535
Rate	-1.0pp $1,379	-0.5pp $1,321	base $1,263	+0.5pp $1,203	+1.0pp $1,143

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$3,452
Total (4 units)			$3,450

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $229,900 Active 11 DOM
2. 2026-06-18
   days on market $229,900 Active 9 DOM
3. 2026-06-17
   days on market $229,900 Active 8 DOM
4. 2026-06-16
   days on market $229,900 Active 7 DOM
5. 2026-06-15
   days on market $229,900 Active 6 DOM
6. 2026-06-13
   days on market $229,900 Active 4 DOM
7. 2026-06-12
   days on market $229,900 Active 3 DOM
8. 2026-06-09
   days on marketlisting id $229,900 Active 1 DOM
9. 2026-06-08
   days on market $229,900 Active 124 DOM
10. 2026-06-07
    days on market $229,900 Active 123 DOM
11. 2026-06-05
    days on market $229,900 Active 121 DOM
12. 2026-06-04
    days on market $229,900 Active 119 DOM
13. 2026-06-02
    days on market $229,900 Active 118 DOM
14. 2026-06-01
    days on market $229,900 Active 117 DOM
15. 2026-05-31
    days on market $229,900 Active 116 DOM
16. 2026-05-31
    days on market $229,900 Active 115 DOM
17. 2026-02-04
    listed $229,900 Active 404-char remark

    Show marketing remark (404 chars)

    Excellent cash-flow opportunity in the heart of Maquoketa! This 4-plex at 318 N Main St. features 7 total bedrooms across 4 units (3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio), offering a strong rental diversification and steady income. With over 3,300 square feet of finished living space, off-street parking, and a prime location near downtown amenities, this property is a turnkey addition to any portfolio.

18. 2026-02-03
    historical
19. 2026-01-08
    status Active
20. 2026-01-06
    historical
21. 2026-01-05
    historical
22. 2025-10-28
    price
23. 2025-10-13
    price
24. 2025-10-01
    listed Active
25. 2024-09-16
    soldstatus $182,500
26. 2024-09-11
    soldstatus $182,500 Closed
27. 2024-08-07
    status Pending
28. 2024-07-22
    listed $189,900 Active

ⓘ 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: $1,934 · $161/mo
• Projected year-2 tax: $2,772 · $231/mo
• Expected delta: +$838/yr (+$70/mo · 43.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $41,400
• − Mortgage interest: −$12,878
• − Property taxes: −$1,934
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,312
• − Management: −$3,312
• − Depreciation: −$6,688
• Taxable income: $12,127
• Est. tax owed @ 24.0%: −$2,910
• After-tax cash flow: $12,245/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: Maquoketa Community School District
• NCES district ID: 1918510
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,880
• Composite: 45.54/100
• National rank: #2602
• State rank: #270 of 289 in IA

Livability — Maquoketa

• Score: 70/100
• State rank: #362
• US rank: #7540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maquoketa, IA
• Population (ZIP): 8,139

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 18,736 people
• By 2030: 18,227 · -2.7%
• By 2040: 17,049 · -9.0%
• By 2050: 15,848 · -15.4%
• By 2075: 13,660 · -27.1%
• By 2100: 11,167 · -40.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Black 2%
• Common ancestry: Romanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -56.9pp toward R · 2008: 24.4pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+26.1 2016: R+19.4 2012: D+16.8 2008: D+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.28%
• Current HPI: 213.2315
• 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

+21.1% since first listed

15 events — show timeline

• 2026-06-08 Listed $229,900 ECIMLS
• 2026-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-02-04 Listed $229,900 MRED as Distributed by MLS Grid
• 2026-02-03 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
• 2025-10-28 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-13 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-01 Listed — RMLSA as Distributed by MLS Grid
• 2024-09-16 Sold (Public Records) $182,500 Public Records
• 2024-09-11 Sold (MLS) $182,500 ECIMLS
• 2024-08-07 Pending — ECIMLS
• 2024-07-22 Listed $189,900 ECIMLS

Property tax history

-1.3%/yr

Latest (2025): $1,934 · +15.8% YoY. Source: county tax records.