21 Sue St · Manning, IA 51455

$139,500

4 bd · 2.0 ba · 1,990 sqft · SingleFamily public records · 207 Days on market

Built 1900 8,712 sqft lot $70/sqft · 16% below area Est $166k · 16% under ↓ 12% since listing

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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 +15.0/30.0
• ARV discount +14.6/15.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover this spacious 4-bedroom, 2-bath home offering great functionality and plenty of storage. The main floor features convenient laundry, an open living area, and ample natural light throughout. An attached garage provides easy everyday access, while the property also includes a 2-car detached garage plus an additional single detached garage—perfect for vehicles, workshops, or extra storage. With multiple garage options and room to grow, this property is a fantastic opportunity in Manning!

Key facts

• 8,712 sq ft lot
• 4 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $42 ($509/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 $127k (9.3% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#107 in IA, #2,085 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Ikm-Manning Community School District (rural): math 75% / reading 78% proficiency, ranked #58 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 36 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($964 loan paydown + $14k appreciation (10.0% local appreciation)).
• Carroll County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

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

Recommended offer $122,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 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 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 A-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: 0.91% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.2

CMA / ARV

• ARV (median comp): $165,732
• List price: $139,500
• Delta: -15.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Ann St	0.18mi	3/2.5 (-1)	2,080 (+4%)	5mo	$290,000	$139	73
71 May St	0.14mi	4/2.5	1,954 (-2%)	24mo	$192,000	$98	68
128 East St	0.40mi	3/2.0 (-1)	1,950 (-2%)	22mo	$150,000	$77	55
335 3rd St	0.27mi	3/2.0 (-1)	1,845 (-7%)	22mo	$190,000	$103	52
1010 Center St	0.75mi	4/2.5	2,152 (+8%)	9mo	$319,500	$148	42
912 Center St	0.68mi	3/2.0 (-1)	2,200 (+11%)	7mo	$181,500	$83	40

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 3.01×
• Total profit: $78,690
• Equity at exit: $125,673

10-year hold

• IRR: 22.2%
• Equity multiple: 6.88×
• Total profit: $229,636
• Equity at exit: $271,018

Cash invested: $39,060 (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 51455

• Active inventory: 36
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $42

Break-even live

Break-even rent $1,211

Max offer price $139,500

Occupancy floor 92%

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-15
   days on market $139,500 Active 207 DOM
2. 2026-06-13
   days on market $139,500 Active 205 DOM
3. 2026-06-12
   days on market $139,500 Active 204 DOM
4. 2026-06-09
   days on market $139,500 Active 201 DOM
5. 2026-06-08
   days on market $139,500 Active 200 DOM
6. 2026-06-07
   days on market $139,500 Active 199 DOM
7. 2026-06-07
   days on market $139,500 Active 198 DOM
8. 2026-06-04
   days on market $139,500 Active 195 DOM
9. 2026-06-02
   days on market $139,500 Active 194 DOM
10. 2026-06-01
    days on market $139,500 Active 193 DOM
11. 2026-05-31
    days on market $139,500 Active 192 DOM
12. 2026-05-31
    days on market $139,500 Active 191 DOM
13. 2025-12-18
    price $139,500 504-char remark

    Show marketing remark (504 chars)

    Discover this spacious 4-bedroom, 2-bath home offering great functionality and plenty of storage. The main floor features convenient laundry, an open living area, and ample natural light throughout. An attached garage provides easy everyday access, while the property also includes a 2-car detached garage plus an additional single detached garage—perfect for vehicles, workshops, or extra storage. With multiple garage options and room to grow, this property is a fantastic opportunity in Manning!

14. 2025-11-20
    listed $142,000 Active 504-char remark

    Show marketing remark (504 chars)

    Discover this spacious 4-bedroom, 2-bath home offering great functionality and plenty of storage. The main floor features convenient laundry, an open living area, and ample natural light throughout. An attached garage provides easy everyday access, while the property also includes a 2-car detached garage plus an additional single detached garage—perfect for vehicles, workshops, or extra storage. With multiple garage options and room to grow, this property is a fantastic opportunity in Manning!

15. 2023-12-26
    soldstatus $129,000
16. 2023-12-22
    soldstatus $129,000 Closed 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

17. 2023-12-08
    status Pending 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

18. 2023-11-16
    historical Active Under Contract 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

19. 2023-10-23
    price $134,900 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

20. 2023-09-27
    price $139,900 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

21. 2023-09-12
    status Active 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

22. 2023-09-06
    historical Active Under Contract 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

23. 2023-08-29
    price $149,900 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

24. 2023-08-14
    status Active 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

25. 2023-08-08
    historical 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

26. 2023-07-21
    price $156,500 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

27. 2023-05-23
    listed $159,000 Active 499-char remark

    Show marketing remark (499 chars)

    Round up the kids and take a look at this spacious 4 bedroom 2 bath home with tons of living area. Beautiful older woodwork that has been refinished. Colonades between living and dining rooms. Modern kitchen with nice countertop space open to the family room with vaulted ceilings. You’ll love the garages: 1+ car attached, 1 car detached and nice 2 car detached. Back yard ready to enjoy. See photos on line. Call today and schedule your tour. PLUS----$4000 flooring allowance to new buyer!!!

ⓘ 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: $2,008 · $167/mo
• Projected year-2 tax: $2,099 · $175/mo
• Expected delta: +$91/yr (+$8/mo · 4.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,181
• − Mortgage interest: −$7,814
• − Property taxes: −$2,008
• − Insurance: −$698
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$4,058
• Taxable loss: −$1,826
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $947/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: Ikm-Manning Community School District
• NCES district ID: 1914880
• Math proficiency: 75% ▼ -1.00%
• Reading proficiency: 78% ▬ 0.00%
• Median HH income: $49,285
• Composite: 64.68/100
• National rank: #524
• State rank: #58 of 289 in IA

Livability — Manning

• Score: 79/100
• State rank: #107
• US rank: #2085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manning, IA
• City population: 2,303
• Population (ZIP): 2,303

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,745 people
• By 2030: 19,244 · -2.5%
• By 2040: 18,251 · -7.6%
• By 2050: 17,223 · -12.8%
• By 2075: 16,258 · -17.7%
• By 2100: 15,591 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+41.9) · D 28.4% · R 70.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: 3.6pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+37.8 2016: R+31.8 2012: R+6.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.68%
• Current HPI: 296.99
• 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

-12.3% since first listed

15 events — show timeline

• 2025-12-18 Price Changed $139,500 IAR
• 2025-11-20 Listed $142,000 IAR
• 2023-12-26 Sold (Public Records) $129,000 Public Records
• 2023-12-22 Sold (MLS) $129,000 IAR
• 2023-12-08 Pending — IAR
• 2023-11-16 Contingent — IAR
• 2023-10-23 Price Changed $134,900 IAR
• 2023-09-27 Price Changed $139,900 IAR
• 2023-09-12 Relisted — IAR
• 2023-09-06 Contingent — IAR
• 2023-08-29 Price Changed $149,900 IAR
• 2023-08-14 Relisted — IAR
• 2023-08-08 Delisted — IAR
• 2023-07-21 Price Changed $156,500 IAR
• 2023-05-23 Listed $159,000 IAR

Property tax history

+6.2%/yr

Latest (2025): $2,008 · +20.2% YoY. Source: county tax records.