628 3rd Ave S · Clinton, IA 52732

$49,900

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 103 Days on market

Built 1900 4,200 sqft lot $48/sqft · at area comps Est $49k · at est.

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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 +6.3/15.0
• 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 MLS

Welcome to this charming 2 bedroom, 1 bath home that has been thoughtfully refreshed and brought back to life. Inside, you will love the refinished original hardwood floors and fresh paint throughout, creating a bright and inviting atmosphere. This home blends character with meaningful updates, including an upgraded electrical system converted from fuses to breakers for added peace of mind. Artistic touches throughout highlight the personality of the space and show how beautifully it can be styled and enjoyed. Enjoy relaxing on the screened-in porch, perfect for morning coffee or quiet evenings. The property also features a detached 1 car garage and a yard ready for outdoor enjoyment. Conveniently located near schools, shopping, and everyday amenities, this move-in ready home offers comfort, charm, and practicality in one inviting package.

Key facts

• Screened-in porch
• Detached garage
• 4,200 sq ft lot

Tags

• UPGRADED ELECTRICAL SYSTEM
• SCREENED-IN PORCH
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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: Jefferson Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 343 students, 79% FRL); Clinton Middle School (math 49% / reading 53%, grade C, #210 of 246 statewide, top 87%, 749 students, 59% FRL); Clinton High School (math 43% / reading 57%, grade D+, #313 of 336 statewide, top 93%, 981 students, 49% FRL).
• Market conditions: 246 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $345 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
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 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: 1.98% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.46%
• DSCR: 2.62
• GRM: 4.2

CMA / ARV

• ARV (median comp): $48,655
• List price: $49,900
• Delta: 2.56%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 2nd Ave S	0.18mi	2/2.0	1,046 (+1%)	9mo	$85,000	$81	78
729 S 8th St	0.45mi	2/1.0	988 (-4%)	3mo	$92,700	$94	69
515 1st Ave	0.23mi	2/1.0	917 (-11%)	6mo	$96,500	$105	65
113 N 6th St	0.20mi	3/1.0 (+1)	1,142 (+11%)	6mo	$48,000	$42	63
533 6th Ave N	0.57mi	1/1.0 (-1)	1,088 (+5%)	1mo	$39,900	$37	58
624 9th Ave S	0.47mi	3/3.0 (+1)	1,016 (-2%)	5mo	$37,500	$37	58
615 N 4th St	0.69mi	2/1.0	1,066 (+3%)	9mo	$81,000	$76	55
620 N 4th St	0.69mi	2/2.0	1,000 (-3%)	6mo	$52,980	$53	54
504 N 4th St	0.59mi	2/1.0	921 (-11%)	2mo	$60,000	$65	53
1212 2nd Ave S	0.74mi	3/2.0 (+1)	1,008 (-2%)	2mo	$118,000	$117	51
312 N 3rd St	0.58mi	3/1.0 (+1)	1,114 (+8%)	7mo	$45,500	$41	49
312 N 3rd St	0.58mi	3/1.0 (+1)	1,114 (+8%)	7mo	$45,500	$41	49

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: 32.3%
• Equity multiple: 2.36×
• Total profit: $18,970
• Equity at exit: $7,440

10-year hold

• IRR: 39.3%
• Equity multiple: 4.68×
• Total profit: $51,417
• Equity at exit: $4,314

Cash invested: $13,972 (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: 4.2×

Monthly cashflow live

• Estimated rent: $987 high
• Mortgage (P&I): −$262
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $424

Break-even live

Break-even rent $450

Max offer price $49,900

Occupancy floor 52%

Sensitivity live

Price	-10% $453	-5% $439	+0% $424	+5% $410	+10% $396
Rent	-10% $347	-5% $385	+0% $424	+5% $463	+10% $502
Rate	-1.0pp $450	-0.5pp $437	base $424	+0.5pp $412	+1.0pp $398

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 2nd Ave S Unit 2 Clinton, IA	2.0	1.0	1082	$750	$0.69	45d	1	0.18mi
416 7th Ave S Unit C Clinton, IA	1.0	1.0	773	$700	$0.91	45d	1	0.45mi
1002 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	0.70mi
1004 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	0.71mi
1006 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	0.71mi
1008 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	0.72mi
1216 9th Ave S Clinton, IA	2.0	1.0	804	$1,000	$1.24	45d	1	0.92mi

Listing history 17 events

1. 2026-06-09
   statusdays on market $49,900 Pending 103 DOM
2. 2026-06-08
   days on market $49,900 Active 102 DOM
3. 2026-06-07
   days on market $49,900 Active 101 DOM
4. 2026-06-07
   days on market $49,900 Active 100 DOM
5. 2026-06-03
   days on market $49,900 Active 97 DOM
6. 2026-06-02
   days on market $49,900 Active 96 DOM
7. 2026-06-01
   days on market $49,900 Active 95 DOM
8. 2026-05-31
   days on market $49,900 Active 94 DOM
9. 2026-05-30
   days on market $49,900 Active 93 DOM
10. 2026-05-03
    price $59,900 864-char remark

    Show marketing remark (864 chars)

    Welcome to this charming 2 bedroom, 1 bath home that has been thoughtfully refreshed and brought back to life. Inside, you will love the refinished original hardwood floors and fresh paint throughout, creating a bright and inviting atmosphere. This home blends character with meaningful updates, including an upgraded electrical system converted from fuses to breakers for added peace of mind. Artistic touches throughout highlight the personality of the space and show how beautifully it can be styled and enjoyed. Enjoy relaxing on the screened-in porch, perfect for morning coffee or quiet evenings. The property also features a detached 1 car garage and a yard ready for outdoor enjoyment. Conveniently located near schools, shopping, and everyday amenities, this move-in ready home offers comfort, charm, and practicality in one inviting package.

11. 2026-04-26
    price $67,500 864-char remark

    Show marketing remark (864 chars)

    Welcome to this charming 2 bedroom, 1 bath home that has been thoughtfully refreshed and brought back to life. Inside, you will love the refinished original hardwood floors and fresh paint throughout, creating a bright and inviting atmosphere. This home blends character with meaningful updates, including an upgraded electrical system converted from fuses to breakers for added peace of mind. Artistic touches throughout highlight the personality of the space and show how beautifully it can be styled and enjoyed. Enjoy relaxing on the screened-in porch, perfect for morning coffee or quiet evenings. The property also features a detached 1 car garage and a yard ready for outdoor enjoyment. Conveniently located near schools, shopping, and everyday amenities, this move-in ready home offers comfort, charm, and practicality in one inviting package.

12. 2026-02-26
    listed $69,500 Active 864-char remark

    Show marketing remark (864 chars)

    Welcome to this charming 2 bedroom, 1 bath home that has been thoughtfully refreshed and brought back to life. Inside, you will love the refinished original hardwood floors and fresh paint throughout, creating a bright and inviting atmosphere. This home blends character with meaningful updates, including an upgraded electrical system converted from fuses to breakers for added peace of mind. Artistic touches throughout highlight the personality of the space and show how beautifully it can be styled and enjoyed. Enjoy relaxing on the screened-in porch, perfect for morning coffee or quiet evenings. The property also features a detached 1 car garage and a yard ready for outdoor enjoyment. Conveniently located near schools, shopping, and everyday amenities, this move-in ready home offers comfort, charm, and practicality in one inviting package.

13. 2025-06-09
    soldstatus $40,000 237-char remark

    Show marketing remark (237 chars)

    Cute & cozy 2 bedroom home located near schools and shopping. This home features a fenced in yard and open front porch. Perfect starter home, investment property, or for anyone looking to downsize! Listing agent is related to seller.

14. 2025-06-09
    soldstatus $40,000 Closed 237-char remark

    Show marketing remark (237 chars)

    Cute & cozy 2 bedroom home located near schools and shopping. This home features a fenced in yard and open front porch. Perfect starter home, investment property, or for anyone looking to downsize! Listing agent is related to seller.

15. 2025-05-19
    status Pending 237-char remark

    Show marketing remark (237 chars)

    Cute & cozy 2 bedroom home located near schools and shopping. This home features a fenced in yard and open front porch. Perfect starter home, investment property, or for anyone looking to downsize! Listing agent is related to seller.

16. 2025-05-13
    listed $47,500 237-char remark

    Show marketing remark (237 chars)

    Cute & cozy 2 bedroom home located near schools and shopping. This home features a fenced in yard and open front porch. Perfect starter home, investment property, or for anyone looking to downsize! Listing agent is related to seller.

17. 2025-05-13
    listed $47,500 Active 237-char remark

    Show marketing remark (237 chars)

    Cute & cozy 2 bedroom home located near schools and shopping. This home features a fenced in yard and open front porch. Perfect starter home, investment property, or for anyone looking to downsize! Listing agent is related to seller.

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $872 · $73/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 6/10 Major FEMA zone X · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $11,842
• − Mortgage interest: −$2,795
• − Property taxes: −$872
• − Insurance: −$250
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$1,452
• Taxable income: $4,579
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $3,995/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

+26.1% since first listed

8 events — show timeline

• 2026-05-03 Price Changed $59,900 MRED as Distributed by MLS Grid
• 2026-04-26 Price Changed $67,500 MRED as Distributed by MLS Grid
• 2026-02-26 Listed $69,500 MRED as Distributed by MLS Grid
• 2025-06-09 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2025-06-09 Sold (MLS) $40,000 MRED as Distributed by MLS Grid
• 2025-05-19 Pending — RMLSA as Distributed by MLS Grid
• 2025-05-13 Listed $47,500 RMLSA as Distributed by MLS Grid
• 2025-05-13 Listed $47,500 MRED as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2025): $872 · +2.1% YoY. Source: county tax records.