323 Lincoln St · Miles, IA 52064

$132,000

4 bd · 1.5 ba · 1,638 sqft · SingleFamily public records · 178 Days on market

Built 1890 9,600 sqft lot $81/sqft · 37% below area Est $209k · 37% 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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• 1% rule +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 1890's 4-bedroom home located in the heart of small-town living. This historic residence features a remodeled kitchen with modern finishes, original hardwood floors, and multiple living areas filled with natural light. The home blends timeless character with thoughtful updates, offering both comfort and style. Sits directly across the street from the city park and only a few blocks away from the elementary school.

Key facts

• Remodeled kitchen
• 9,600 sq ft lot
• Garage

Tags

• REMODELED KITCHEN
• ORIGINAL HARDWOOD FLOORS
• MULTIPLE LIVING AREAS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $120 ($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 (8.4% below list).
• Recommended offer: $116k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#512 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities F, commute F, health & safety F.
• Easton Valley Community School District (rural): math 62% / reading 63% proficiency, ranked #218 of 289 in IA (top 75%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 20 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($913 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 $37k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask is 150% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $132k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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: 0.92% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.1

CMA / ARV

• ARV (median comp): $208,527
• List price: $132,000
• Delta: -36.70%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
661 Sunset Dr	0.28mi	3/2.0 (-1)	1,707 (+4%)	14mo	$230,500	$135	61
661 Sunset Dr	0.28mi	3/2.0 (-1)	1,707 (+4%)	14mo	$230,500	$135	61

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: 11.1%
• Equity multiple: 1.64×
• Total profit: $23,495
• Equity at exit: $59,353

10-year hold

• IRR: 13.3%
• Equity multiple: 2.97×
• Total profit: $72,938
• Equity at exit: $91,470

Cash invested: $36,960 (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 52064

• Active inventory: 7
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $120

Break-even live

Break-even rent $1,057

Max offer price $132,000

Occupancy floor 85%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $132,000 Active 178 DOM
2. 2026-06-18
   days on market $132,000 Active 177 DOM
3. 2026-06-17
   days on market $132,000 Active 176 DOM
4. 2026-06-16
   days on market $132,000 Active 175 DOM
5. 2026-06-15
   days on market $132,000 Active 174 DOM
6. 2026-06-14
   days on market $132,000 Active 172 DOM
7. 2026-06-12
   days on market $132,000 Active 171 DOM
8. 2026-06-09
   days on market $132,000 Active 168 DOM
9. 2026-06-08
   days on market $132,000 Active 167 DOM
10. 2026-06-07
    days on market $132,000 Active 166 DOM
11. 2026-06-05
    days on market $132,000 Active 164 DOM
12. 2026-06-03
    days on market $132,000 Active 162 DOM
13. 2026-06-02
    days on market $132,000 Active 161 DOM
14. 2026-06-01
    days on market $132,000 Active 160 DOM
15. 2026-05-31
    days on market $132,000 Active 159 DOM
16. 2026-05-30
    days on market $132,000 Active 158 DOM
17. 2026-03-19
    price $139,900
18. 2026-01-18
    status Active
19. 2026-01-14
    historical
20. 2026-01-08
    status Active
21. 2026-01-06
    historical
22. 2026-01-05
    historical
23. 2025-11-25
    listed Active
24. 2004-08-04
    soldstatus $40,000
25. 2004-05-20
    listed $52,900

ⓘ 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: $1,056 · $88/mo
• Projected year-2 tax: $1,564 · $130/mo
• Expected delta: +$508/yr (+$42/mo · 48.1%)

ⓘ 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 ≥101°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: $14,505
• − Mortgage interest: −$7,394
• − Property taxes: −$1,056
• − Insurance: −$660
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$3,840
• Taxable loss: −$766
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $1,620/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: Easton Valley Community School District
• NCES district ID: 1910130
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $51,496
• Composite: 53.29/100
• National rank: #1484
• State rank: #218 of 289 in IA

Livability — Miles

• Score: 66/100
• State rank: #512
• US rank: #11390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miles, IA
• Population (ZIP): 727

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Danish 3% Iranian 3% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · 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: —
• Current HPI: —
• 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

+164.5% since first listed

9 events — show timeline

• 2026-03-19 Price Changed $139,900 MRED as Distributed by MLS Grid
• 2026-01-18 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
• 2025-11-25 Listed — RMLSA as Distributed by MLS Grid
• 2004-08-04 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2004-05-20 Listed $52,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $1,056 · +5.0% YoY. Source: county tax records.