511 Main Ave · Clinton, IA 52732

$69,500

2 bd · 1.5 ba · 1,026 sqft · SingleFamily public records · 66 Days on market

Built 1870 4,791 sqft lot $68/sqft · 17% below area Est $77k · 10% under

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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 +30.0/30.0
• ARV discount +11.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is such a cute home and is move in ready. New AC and 220 for AC in July 2025. New roof, downspouts and gutters in 2020. The water heater was new in 2015. The windows in the garage are brand new. There are 4 new windows in the living/dining room. Fresh paint throughout. Main level laundry room. The one car garage is really 1 1/2 because it is extra wide and deep, plus it features a work bench. The layout of this home is nice and it has lots of natural sunlight.

Key facts

• Natural sunlight
• New ac
• New roof

Tags

• NEW AC
• NEW ROOF
• NEW WINDOWS
• MAIN LEVEL LAUNDRY ROOM
• EXTRA WIDE GARAGE
• NATURAL SUNLIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 6.7% in Clinton — 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 75/100 on livability (#222 in IA, #4,192 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D, employment D.
• Clinton Community School District (town): math 52% / reading 56% proficiency, ranked #273 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 246 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $40k; list at $70k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,329 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1870 — 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 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.51% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.09%
• DSCR: 1.94
• GRM: 5.5

CMA / ARV

• ARV (median comp): $76,859
• List price: $69,500
• Delta: -9.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 Main Ave	0.14mi	3/1.0 (+1)	988 (-4%)	5mo	$25,000	$25	76
2511 N 4th St	0.17mi	2/2.0	968 (-6%)	9mo	$78,000	$81	73
1005 23rd Ave N	0.31mi	3/1.5 (+1)	1,040 (+1%)	8mo	$148,000	$142	71
339 29th Ave N	0.45mi	3/1.0 (+1)	1,096 (+7%)	3mo	$130,000	$119	58
2819 N 3rd St	0.47mi	2/2.0	1,160 (+13%)	1mo	$144,900	$125	54
2015 Garfield St	0.58mi	2/1.0	1,130 (+10%)	1mo	$8,000	$7	53
1614 Pershing Blvd	0.72mi	3/1.0 (+1)	1,018 (-1%)	6mo	$123,500	$121	53
1619 Pershing Blvd	0.72mi	2/1.0	961 (-6%)	9mo	$105,000	$109	46
1123 N 27th Ave	0.43mi	3/2.5 (+1)	1,176 (+15%)	2mo	$240,000	$204	45
1522 N 4th St	0.75mi	2/1.0	921 (-10%)	6mo	$64,000	$69	41
511 16th Ave N	0.73mi	3/1.0 (+1)	1,106 (+8%)	6mo	$62,000	$56	41
3011 Cleveland St	0.64mi	3/1.0 (+1)	917 (-11%)	9mo	$89,000	$97	38

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: 13.6%
• Equity multiple: 1.54×
• Total profit: $10,538
• Equity at exit: $10,363

10-year hold

• IRR: 22.4%
• Equity multiple: 2.92×
• Total profit: $37,298
• Equity at exit: $6,009

Cash invested: $19,460 (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 52732

• Home prices YoY: -34.9%
• Active inventory: 246
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $342

Break-even live

Break-even rent $614

Max offer price $69,500

Occupancy floor 62%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-07
   statusdays on market $69,500 Pending 66 DOM
2. 2026-06-03
   days on market $69,500 Active 65 DOM
3. 2026-06-02
   days on market $69,500 Active 64 DOM
4. 2026-06-01
   days on market $69,500 Active 63 DOM
5. 2026-05-31
   days on market $69,500 Active 62 DOM
6. 2026-05-30
   days on market $69,500 Active 61 DOM
7. 2026-05-13
   price $69,500 469-char remark

   Show marketing remark (469 chars)

   This is such a cute home and is move in ready. New AC and 220 for AC in July 2025. New roof, downspouts and gutters in 2020. The water heater was new in 2015. The windows in the garage are brand new. There are 4 new windows in the living/dining room. Fresh paint throughout. Main level laundry room. The one car garage is really 1 1/2 because it is extra wide and deep, plus it features a work bench. The layout of this home is nice and it has lots of natural sunlight.

8. 2026-03-30
   listed $72,000 Active 469-char remark

   Show marketing remark (469 chars)

   This is such a cute home and is move in ready. New AC and 220 for AC in July 2025. New roof, downspouts and gutters in 2020. The water heater was new in 2015. The windows in the garage are brand new. There are 4 new windows in the living/dining room. Fresh paint throughout. Main level laundry room. The one car garage is really 1 1/2 because it is extra wide and deep, plus it features a work bench. The layout of this home is nice and it has lots of natural sunlight.

9. 2025-12-17
   historical
10. 2025-12-03
    historical
11. 2025-10-22
    listed Active
12. 2011-03-09
    soldstatus $40,100

ⓘ 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: $1,096 · $91/mo
• Projected year-2 tax: $1,096 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,558
• − Mortgage interest: −$3,893
• − Property taxes: −$1,096
• − Insurance: −$348
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$2,022
• Taxable income: $3,190
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $3,338/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: Clinton Community School District
• NCES district ID: 1907710
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $40,900
• Composite: 45.22/100
• National rank: #2666
• State rank: #273 of 289 in IA

Livability — Clinton

• Score: 75/100
• State rank: #222
• US rank: #4192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IA
• County: Clinton County · 25,880 people
• City population: 25,880
• Metro: Clinton, IA
• Population (ZIP): 25,880
• Household income: $61,105
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 889.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.23%
• Current HPI: 155.3426
• Rent YoY: —
• Metro: Clinton, 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

+73.3% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $69,500 MRED as Distributed by MLS Grid
• 2026-03-30 Listed $72,000 MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-03 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-22 Listed — RMLSA as Distributed by MLS Grid
• 2011-03-09 Sold (Public Records) $40,100 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,096 · +1.5% YoY. Source: county tax records.