1726 Salinger Ave · Carroll, IA 51401

$98,260

3 bd · 1.0 ba · 1,636 sqft · SingleFamily public records · 64 Days on market

Built 1955 8,973 sqft lot $60/sqft · 60% below area Est $177k · 44% under ↓ 15% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.3/10.0
• Schools +6.1/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this ranch-style home ready for your personal touch. Featuring 3 bedrooms and 1 bathroom, this property offers separate living and dining areas, an unfinished basement with great potential, and a 1-car detached garage. Enjoy a spacious yard—perfect for outdoor living or future improvements. Ideal for investors or buyers looking to build equity! Carroll Community is the school district.

Key facts

• Spacious yard
• Unfinished basement
• Ranch-style home

Tags

• RANCH-STYLE HOME
• UNFINISHED BASEMENT
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.2% in Carroll — 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 82/100 on livability (#54 in IA, #1,282 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Carroll Community School District (town): math 72% / reading 72% proficiency, ranked #113 of 289 in IA (top 39%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 92 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $679 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Carroll County population projected at -13% 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,364 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.23% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $177,034
• List price: $98,260
• Delta: -44.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1608 Salinger Ave	0.10mi	3/2.0	1,744 (+7%)	2mo	$155,000	$89	79
527 17th St	0.19mi	4/2.5 (+1)	1,549 (-5%)	1mo	$228,000	$147	70
916 W 21st St	0.32mi	3/2.0	1,528 (-7%)	3mo	$214,900	$141	68
711 W 21st St	0.28mi	4/3.0 (+1)	1,701 (+4%)	2mo	$223,750	$132	66
906 W 15th St	0.19mi	3/2.0	1,870 (+14%)	8mo	$238,750	$128	57
304 W Randall Rd	0.51mi	3/2.5	1,824 (+12%)	1mo	$285,000	$156	50
611 W 21st St	0.29mi	4/3.0 (+1)	1,400 (-14%)	3mo	$290,000	$207	47
436 W 21st St	0.38mi	4/3.0 (+1)	1,472 (-10%)	8mo	$255,000	$173	46
1408 N Adams St	0.53mi	4/1.0 (+1)	1,430 (-13%)	7mo	$150,000	$105	43
219 Windwood Dr	0.50mi	4/2.5 (+1)	1,851 (+13%)	4mo	$305,000	$165	40
1601 N Main St	0.54mi	4/2.0 (+1)	1,872 (+14%)	2mo	$220,000	$118	40
2007 N Main St	0.59mi	4/2.0 (+1)	1,392 (-15%)	3mo	$279,000	$200	36

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,284
• Equity at exit: $14,651

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $23,332
• Equity at exit: $8,496

Cash invested: $27,513 (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 51401

• Home prices YoY: -22.3%
• Active inventory: 92
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$515
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $270

Break-even live

Break-even rent $866

Max offer price $98,260

Occupancy floor 73%

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: $24,565
• Closing costs: $2,948
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   price $115,600 418-char remark

   Show marketing remark (418 chars)

   Opportunity awaits with this ranch-style home ready for your personal touch. Featuring 3 bedrooms and 1 bathroom, this property offers separate living and dining areas, an unfinished basement with great potential, and a 1-car detached garage. Enjoy a spacious yard—perfect for outdoor living or future improvements. Ideal for investors or buyers looking to build equity! Carroll Community is the school district.

2. 2026-03-23
   listed $136,000 Active 418-char remark

   Show marketing remark (418 chars)

   Opportunity awaits with this ranch-style home ready for your personal touch. Featuring 3 bedrooms and 1 bathroom, this property offers separate living and dining areas, an unfinished basement with great potential, and a 1-car detached garage. Enjoy a spacious yard—perfect for outdoor living or future improvements. Ideal for investors or buyers looking to build equity! Carroll Community is the school district.

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $1,537 · $128/mo
• Expected delta: +$5/yr ($0/mo · 0.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $14,487
• − Mortgage interest: −$5,504
• − Property taxes: −$1,532
• − Insurance: −$491
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$2,858
• Taxable income: $1,783
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $2,810/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: Carroll Community School District
• NCES district ID: 1906330
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $50,124
• Composite: 61.04/100
• National rank: #793
• State rank: #113 of 289 in IA

Livability — Carroll

• Score: 82/100
• State rank: #54
• US rank: #1282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carroll, IA
• City population: 12,113
• Population (ZIP): 12,113

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% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -76.74%
• Current HPI: 267.0068
• 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

-15.0% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $115,600 DMMLS
• 2026-03-23 Listed $136,000 DMMLS

Property tax history

+5.5%/yr

Latest (2025): $1,532 · +10.9% YoY. Source: county tax records.