11 Cedar Heights Trailer Ct

Camanche, IA 52730

$6,000D+

2 bd · 1.0 ba · 980 sqft · Built 1974 · Other · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $949/mo
• Mortgage (P&I): −$31
• Tax + insurance: −$10
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $708/mo
• Annual: $8,499/yr
• Cap rate: 147.95%
• Cash-on-cash: 505.90%
• DSCR: 23.51
• 1% rule: 15.82%
• Cash to close: $1,680

Investor read

• This is a 2-bed/1.0-bath other listed at $6k. Condition is rated good.
• At list price, monthly cash flow is $708 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $6k).
• It's been on market 27 days — a 2% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $6k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $41 of loan paydown is wiped out by about $180 of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#366 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Camanche Community School District (town): math 60% / reading 68% proficiency, ranked #203 of 289 in IA (top 70%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).
• 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 147.9% vs local median 2.6% in Camanche — 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.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.