904 Highland Acres Rd · Marshalltown, IA 50158

$174,500

3 bd · 2.0 ba · 2,025 sqft · SingleFamily public records · 151 Days on market

Built 1952 0.89 ac lot $86/sqft · 51% below area

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Why this score? — see what drove the F 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

Key facts

• Small yard shed
• Masonry fireplace
• Framed screen porch

Tags

• MASONRY FIREPLACE
• FRAMED SCREEN PORCH
• WOOD DECKS
• FLAT TAR AND GRAVEL ROOF
• DETACHED METAL SHED
• SMALL YARD SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (24.6% below list).
• Recommended offer: $132k (24.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#133 in IA, #2,464 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, amenities F.
• Marshalltown Community School District (town): math 50% / reading 52% proficiency, ranked #278 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marshalltown High School (math 46% / reading 59%, grade C-, #298 of 336 statewide, top 89%, 1,582 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 164 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $43k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,510 (24.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.75% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• GRM: 11.1

CMA / ARV

• ARV (median comp): $355,093
• List price: $174,500
• Delta: -50.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
808 Highland Acres Rd	0.07mi	3/3.0	2,232 (+10%)	20mo	$580,000	$260	59
2501 Lincoln Way	0.47mi	4/3.0 (+1)	1,865 (-8%)	12mo	$350,000	$188	46
2901 Nelson Rd	0.34mi	3/3.0	1,836 (-9%)	24mo	$155,000	$84	45
3309 Lily Ln	0.59mi	4/4.0 (+1)	2,122 (+5%)	11mo	$360,000	$170	42
101 S 29th St	0.67mi	4/3.0 (+1)	2,060 (+2%)	19mo	$369,900	$180	41

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: -23.2%
• Equity multiple: 0.20×
• Total profit: $-38,893
• Equity at exit: $26,019

10-year hold

• IRR: -17.8%
• Equity multiple: 0.03×
• Total profit: $-47,483
• Equity at exit: $15,088

Cash invested: $48,860 (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 50158

• Active inventory: 164
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$915
• Tax est. 1.5%: −$218 /mo · $2,618/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-167

Break-even live

Break-even rent $1,526

Max offer price $150,335

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-107	+0% $-167	+5% $-227	+10% $-288
Rent	-10% $-271	-5% $-219	+0% $-167	+5% $-115	+10% $-63
Rate	-1.0pp $-79	-0.5pp $-123	base $-167	+0.5pp $-212	+1.0pp $-258

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: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-04
   status Pending 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

2. 2026-05-04
   status Pending 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

3. 2026-04-22
   price $174,500 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

4. 2026-04-22
   price $174,500 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

5. 2026-03-03
   price $199,500 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

6. 2026-03-03
   price $199,500 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

7. 2025-12-05
   listed $217,500 Active 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

8. 2025-12-04
   listed $217,500 Active 511-char remark

   Show marketing remark (511 chars)

   Large dimension one level property has 3 bedrooms, 1 full bath, one 3/4 shower bath, and one 1/2 bath all on main floor. The living room has a masonry fireplace, a framed screen porch and 2 wood decks. Unfinished basement is 1,013 SF. It has a flat tar and gravel roof, and the garage is a tuck under 2 stall 16 by 28. There is an additional detached metal shed and also a small yard shed. All of this on more than 3/4 acres. Buyers agent submits offers online. Information believed accurate but not guaranteed.

9. 2024-05-14
   status Pending
10. 2024-05-10
    price $239,900
11. 2024-04-26
    listed $249,900 Active
12. 2022-12-14
    price $220,000
13. 2022-11-24
    historical
14. 2022-11-16
    status Pending
15. 2021-10-14
    soldstatus $224,000
16. 2021-10-14
    soldstatus $224,000 Closed
17. 2021-10-14
    price $224,000
18. 2021-10-14
    soldstatus $224,000
19. 2021-10-14
    soldstatus $224,000
20. 2021-07-14
    listed $220,000
21. 2021-07-14
    listed $220,000
22. 2018-10-01
    soldstatus $212,000
23. 2018-09-28
    soldstatus $212,000
24. 2018-06-07
    listed $219,900
25. 1998-12-18
    soldstatus $102,000
26. 1993-09-02
    soldstatus $130,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $15,781
• − Mortgage interest: −$9,775
• − Property taxes: −$2,618
• − Insurance: −$872
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$5,076
• Taxable loss: −$5,085
• Est. tax savings @ 24.0%: +$1,220
• After-tax cash flow: $-784/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: Marshalltown Community School District
• NCES district ID: 1918720
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $47,877
• Composite: 43.41/100
• National rank: #3015
• State rank: #278 of 289 in IA

Livability — Marshalltown

• Score: 78/100
• State rank: #133
• US rank: #2464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshalltown, IA
• County: Marshall County · 31,396 people
• City population: 31,396
• Metro: Marshalltown, IA
• Population (ZIP): 31,396
• Household income: $70,367
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 369.0

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 41,166 people
• By 2030: 41,477 · +0.8%
• By 2040: 42,548 · +3.4%
• By 2050: 44,472 · +8.0%
• By 2075: 52,719 · +28.1%
• By 2100: 60,912 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 30% Two or more races 14% Asian 5% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Portuguese 3% Italian 2% Iranian 1%
• Foreign-born: 17% · Canada, Philippines, China
• Languages at home: 71% English-only · Spanish 24% Other Asian/Pacific 4% French/Haitian/Cajun 1%

Political lean MEDSL · Marshall

• 2024 margin: R (+15.6) · D 41.4% · R 57.0% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: 9.3pp · 2024: -15.6pp
• All cycles: 2024: R+15.6 2020: R+7.7 2016: R+8.5 2012: D+8.9 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.80%
• Current HPI: 177.4692
• Rent YoY: —
• Metro: Marshalltown, 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

+34.2% since first listed

26 events — show timeline

• 2026-05-04 Pending — CRAAR, CDRMLS
• 2026-05-04 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-22 Price Changed $174,500 CRAAR, CDRMLS
• 2026-04-22 Price Changed $174,500 NEIRBR as distributed by MLS GRID
• 2026-03-03 Price Changed $199,500 CRAAR, CDRMLS
• 2026-03-03 Price Changed $199,500 NEIRBR as distributed by MLS GRID
• 2025-12-05 Listed $217,500 CRAAR, CDRMLS
• 2025-12-04 Listed $217,500 NEIRBR as distributed by MLS GRID
• 2024-05-14 Pending — IAR
• 2024-05-10 Price Changed $239,900 IAR
• 2024-04-26 Listed $249,900 IAR
• 2022-12-14 Price Changed $220,000 IAR
• 2022-11-24 Delisted — IAR
• 2022-11-16 Pending — IAR
• 2021-10-14 Sold (Public Records) $224,000 Public Records
• 2021-10-14 Sold (MLS) $224,000 DMMLS
• 2021-10-14 Price Changed $224,000 IAR
• 2021-10-14 Sold (MLS) $224,000 IAR
• 2021-10-14 Sold (MLS) $224,000 IAR
• 2021-07-14 Listed $220,000 DMMLS
• 2021-07-14 Listed $220,000 IAR
• 2018-10-01 Sold (Public Records) $212,000 Public Records
• 2018-09-28 Sold (MLS) $212,000 IAR
• 2018-06-07 Listed $219,900 IAR
• 1998-12-18 Sold (Public Records) $102,000 Public Records
• 1993-09-02 Sold (Public Records) $130,000 Public Records

Property tax history

-39.0%/yr

Latest (2025): $16 · -99.6% YoY. Source: county tax records.