600 Main St · Scranton, IA 51462

$15,000

6 bd · 2.0 ba · 1,220 sqft · Other public records · 21 Days on market

Built 1890 0.30 ac lot

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

CALLING ALL INVESTORS! This is a package deal only along with 706 LINCOLN ST SCRANTON IA 51462 also offered at $15,000. Looking for you next projects? Look no further! All information obtained from seller and public record.

Key facts

• 0.3 acre lot
• 2 garage spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $15k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#785 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• Greene County Community School District (town): math 58% / reading 67% proficiency, ranked #223 of 289 in IA (top 77%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $721 of equity ($104 loan paydown + $617 appreciation (4.1% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,775 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 8.29% ✓
• Cap rate: 77.21%
• Cash-on-cash: 253.28%
• DSCR: 12.27
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.09×
• Total profit: $59,183
• Equity at exit: $7,705

10-year hold

• IRR: —
• Equity multiple: 32.08×
• Total profit: $130,520
• Equity at exit: $12,681

Cash invested: $4,200 (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 51462

• Home prices YoY: 2.2%
• Active inventory: 9
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$11 /mo · $136/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $886

Break-even live

Break-even rent $122

Max offer price $15,000

Occupancy floor 24%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   status Pending 227-char remark

   Show marketing remark (227 chars)

   CALLING ALL INVESTORS! This is a package deal only along with 706 LINCOLN ST SCRANTON IA 51462 also offered at $15,000. Looking for you next projects? Look no further! All information obtained from seller and public record.

2. 2026-04-16
   listed $15,000 Active 227-char remark

   Show marketing remark (227 chars)

   CALLING ALL INVESTORS! This is a package deal only along with 706 LINCOLN ST SCRANTON IA 51462 also offered at $15,000. Looking for you next projects? Look no further! All information obtained from seller and public record.

ⓘ 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: $136 · $11/mo
• Projected year-2 tax: $186 · $15/mo
• Expected delta: +$50/yr (+$4/mo · 36.6%)

ⓘ 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 2/10 Low 7 d/yr ≥104°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: $14,927
• − Mortgage interest: −$840
• − Property taxes: −$136
• − Insurance: −$75
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$436
• Taxable income: $11,051
• Est. tax owed @ 24.0%: −$2,652
• After-tax cash flow: $7,985/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: Greene County Community School District
• NCES district ID: 1915210
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $46,051
• Composite: 52.74/100
• National rank: #1548
• State rank: #223 of 289 in IA

Livability — Scranton

• Score: 61/100
• State rank: #785
• US rank: #17818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scranton, IA
• City population: 940
• Population (ZIP): 940

Population outlook (Greene County) Hauer SSP2

• Today (2025): 8,361 people
• By 2030: 8,090 · -3.2%
• By 2040: 7,607 · -9.0%
• By 2050: 7,186 · -14.1%
• By 2075: 6,528 · -21.9%
• By 2100: 5,799 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+33.0) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -33.4pp toward R · 2008: 0.5pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+28.8 2016: R+23.8 2012: R+0.1 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.11%
• Current HPI: 188.1394
• 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

2 events — show timeline

• 2026-05-07 Pending — DMMLS
• 2026-04-16 Listed $15,000 DMMLS

Property tax history

-3.7%/yr

Latest (2025): $136 · +9.7% YoY. Source: county tax records.