111 Skyline Dr

Guttenberg, IA 52052

$155,000C-

3 bd · 1.5 ba · 2,132 sqft · Built 1974 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,171/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $-79/mo
• Annual: $-950/yr
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• 1% rule: 0.76%
• Cash to close: $43,400

Investor read

• This is a 3-bed/1.5-bath single-family listed at $155k.
• At list price, monthly cash flow is $-79 ($-950/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (24.4% below list).
• It's been on market 78 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (24.4% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (7.8% local appreciation)).
• Location reads 76/100 on livability (#199 in IA, #3,648 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Clayton Ridge Community School District (rural): math 66% / reading 72% proficiency, ranked #164 of 289 in IA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $155k implies a 55% gain — meaningful room to come down on a strong offer.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.