403 N Jackson St · Lisbon, IA 52253

$135,000

4 bd · 2.0 ba · 2,443 sqft · MultiFamily public records · 242 Days on market

Built 1870 0.26 ac lot $55/sqft · 53% below area ↓ 12% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

.

Key facts

• 0.26 acre lot
• Built 1870
• Listed 241 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#53 in IA, #1,268 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Lisbon Community School District (town): math 74% / reading 74% proficiency, ranked #75 of 289 in IA (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 16 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% 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 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.47%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (median comp): $290,088
• List price: $135,000
• Delta: -53.46%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.51×
• Total profit: $19,247
• Equity at exit: $20,129

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $69,863
• Equity at exit: $11,672

Cash invested: $37,800 (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 52253

• Home prices YoY: -13.4%
• Active inventory: 16
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$207 /mo · $2,488/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $645

Break-even live

Break-even rent $1,230

Max offer price $135,000

Occupancy floor 63%

Sensitivity live

Price	-10% $721	-5% $683	+0% $645	+5% $607	+10% $568
Rent	-10% $483	-5% $564	+0% $645	+5% $726	+10% $806
Rate	-1.0pp $713	-0.5pp $679	base $645	+0.5pp $610	+1.0pp $574

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,046
Total (2 units)			$2,046

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-09
   days on market $135,000 Active 242 DOM
2. 2026-06-08
   days on market $135,000 Active 241 DOM
3. 2026-06-07
   days on market $135,000 Active 240 DOM
4. 2026-06-05
   days on market $135,000 Active 238 DOM
5. 2026-06-04
   days on market $135,000 Active 236 DOM
6. 2026-06-02
   days on market $135,000 Active 235 DOM
7. 2026-06-01
   days on market $135,000 Active 234 DOM
8. 2026-05-31
   days on market $135,000 Active 233 DOM
9. 2026-05-31
   days on market $135,000 Active 232 DOM
10. 2026-02-18
    price $115,000
11. 2026-01-22
    price $125,000
12. 2026-01-09
    status Active 1-char remark

    Show marketing remark (1 chars)

    .

13. 2025-12-04
    price $135,000 1-char remark

    Show marketing remark (1 chars)

    .

14. 2025-12-04
    price $135,000

    Show marketing remark (1 chars)

    .

15. 2025-10-24
    price $145,000
16. 2025-10-02
    listed $155,000 Active 1-char remark

    Show marketing remark (1 chars)

    .

17. 2018-05-14
    soldstatus $115,500
18. 2018-05-11
    soldstatus $115,900
19. 2018-03-10
    listed $119,000
20. 2017-06-12
    listed $124,950
21. 2017-06-12
    listed $124,950
22. 2017-01-18
    listed $129,950
23. 2017-01-18
    listed $129,950

ⓘ 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: $2,488 · $207/mo
• Projected year-2 tax: $2,488 · $207/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,552
• − Mortgage interest: −$7,562
• − Property taxes: −$2,488
• − Insurance: −$675
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$3,927
• Taxable income: $5,971
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $6,305/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: Lisbon Community School District
• NCES district ID: 1917250
• Math proficiency: 74% ▲ 1.00%
• Reading proficiency: 74% ▼ -2.00%
• Median HH income: $60,633
• Composite: 63.71/100
• National rank: #600
• State rank: #75 of 289 in IA

Livability — Lisbon

• Score: 82/100
• State rank: #53
• US rank: #1268

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lisbon, IA
• Population (ZIP): 2,593

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Portuguese 4% Lithuanian 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.05%
• Current HPI: 246.4942
• 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

-11.5% since first listed

14 events — show timeline

• 2026-02-18 Price Changed $115,000 CRAAR, CDRMLS
• 2026-01-22 Price Changed $125,000 CRAAR, CDRMLS
• 2026-01-09 Relisted — ICAARMLS
• 2025-12-04 Price Changed $135,000 ICAARMLS
• 2025-12-04 Price Changed $135,000 CRAAR, CDRMLS
• 2025-10-24 Price Changed $145,000 CRAAR, CDRMLS
• 2025-10-02 Listed $155,000 ICAARMLS
• 2018-05-14 Sold (Public Records) $115,500 Public Records
• 2018-05-11 Sold (MLS) $115,900 CRAAR, CDRMLS
• 2018-03-10 Listed $119,000 CRAAR, CDRMLS
• 2017-06-12 Listed $124,950 CRAAR, CDRMLS
• 2017-06-12 Listed $124,950 CRAAR, CDRMLS
• 2017-01-18 Listed $129,950 CRAAR, CDRMLS
• 2017-01-18 Listed $129,950 CRAAR, CDRMLS

Property tax history

+1.6%/yr

Latest (2025): $2,488 · +2.7% YoY. Source: county tax records.