602 15th St · Le Claire, IA 52753

$349,900

3 bd · 3.0 ba · 1,350 sqft · SingleFamily · 16 Days on market

Built 2026 0.30 ac lot Est $248k · 41% over $8/mo HOA

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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 +9.9/30.0
• Schools +7.6/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Exciting News! Aspen Homes is now offering their award-winning Villa floor plan as a single-family home in Johnson Farms. The Johnson Farm Cottage is starting in the 300's with slab foundation, the additional options include full basement both finished or unfinished, 4-season room, covered rear porch and 3 stall garages. This beautiful blend of tradition and modern finishes features 2-3 bedrooms, 2-3 full baths, 9' ceilings and luxury plank flooring. You'll love the open concept, desirable kitchen that includes quartz counter, stainless appliances. You'll appreciate the 20x24 Zero Step entry from garage leading to the spacious rear entry, bench with coat hangers. Standard Pella double hung

Key facts

• Slab foundation
• 3 stall garages
• Open concept

Tags

• SLAB FOUNDATION
• FULL BASEMENT
• 4-SEASON ROOM
• COVERED REAR PORCH
• 3 STALL GARAGES
• OPEN CONCEPT

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (20.2% below list).
• Recommended offer: $279k (20.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#256 in IA, #4,947 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Pleasant Valley Community School District (suburban): math 87% / reading 85% proficiency, ranked #5 of 289 in IA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Cody Elementary School (math 87% / reading 81%, grade A+, #41 of 616 statewide, top 6%, 457 students, 10% FRL); Pleasant Valley Junior High School (math 86% / reading 84%, grade A+, #9 of 246 statewide, top 3%, 856 students, 12% FRL); Pleasant Valley High School (math 83% / reading 87%, grade A, #12 of 336 statewide, top 4%, 1,658 students, 11% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 80 active listings in the ZIP; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Scott County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $279,377 (20.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.80% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.68%
• DSCR: 0.88
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $248,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 Wisconsin St	0.44mi	3/2.0	1,309 (-3%)	3mo	$241,500	$184	68
1423 Dodge St	0.46mi	4/3.0 (+1)	1,386 (+3%)	14mo	$300,000	$216	58
401 N 8th St	0.57mi	4/3.0 (+1)	1,526 (+13%)	7mo	$420,000	$275	41
217 N 8th St	0.65mi	3/2.0	1,529 (+13%)	8mo	$240,000	$157	37
201 S 12th St	0.57mi	3/2.0	1,176 (-13%)	14mo	$250,000	$213	36
1124 Jones St	0.46mi	3/1.0	1,204 (-11%)	21mo	$195,000	$162	35
321 S 14th St	0.60mi	2/1.0 (-1)	1,176 (-13%)	14mo	$150,000	$128	26

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: -20.7%
• Equity multiple: 0.28×
• Total profit: $-70,600
• Equity at exit: $52,171

10-year hold

• IRR: -14.0%
• Equity multiple: 0.19×
• Total profit: $-79,247
• Equity at exit: $30,253

Cash invested: $97,972 (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 52753

• Home prices YoY: -31.0%
• Active inventory: 80
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,794 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$8
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $-219

Break-even live

Break-even rent $3,071

Max offer price $318,210

Occupancy floor —

Sensitivity live

Price	-10% $23	-5% $-98	+0% $-219	+5% $-340	+10% $-461
Rent	-10% $-440	-5% $-329	+0% $-219	+5% $-109	+10% $2
Rate	-1.0pp $-43	-0.5pp $-130	base $-219	+0.5pp $-310	+1.0pp $-402

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 7 events

1. 2026-02-04
   status Pending
2. 2026-01-19
   historical
3. 2026-01-18
   status Active
4. 2026-01-14
   historical
5. 2026-01-06
   historical
6. 2025-12-11
   listed $349,900 Active
7. 2025-12-05
   listed Active

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 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: $33,525
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,682
• − Management: −$2,682
• − HOA: −$96
• − Depreciation: −$10,179
• Taxable loss: −$8,712
• Est. tax savings @ 24.0%: +$2,091
• After-tax cash flow: $-537/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: Pleasant Valley Community School District
• NCES district ID: 1923110
• Math proficiency: 87% ▼ -4.00%
• Reading proficiency: 85% ▼ -2.00%
• Median HH income: $80,716
• Composite: 75.59/100
• National rank: #130
• State rank: #5 of 289 in IA

Livability — Le Claire

• Score: 74/100
• State rank: #256
• US rank: #4947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Le Claire, IA
• Population (ZIP): 6,111

Population outlook (Scott County) Hauer SSP2

• Today (2025): 188,878 people
• By 2030: 196,648 · +4.1%
• By 2040: 210,860 · +11.6%
• By 2050: 224,359 · +18.8%
• By 2075: 258,884 · +37.1%
• By 2100: 286,447 · +51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Serbian 3% Italian 3% Slovak 2%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Scott

• 2024 margin: Toss-up / Even · D 47.3% · R 51.2% · Other 1.4%
• 2008→2024 swing: -18.4pp toward R · 2008: 14.6pp · 2024: -3.9pp
• All cycles: 2024: R+3.9 2020: D+3.5 2016: D+1.4 2012: D+13.8 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.47%
• Current HPI: 203.798
• 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

7 events — show timeline

• 2026-02-04 Pending — MRED as Distributed by MLS Grid
• 2026-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-18 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-11 Listed $349,900 MRED as Distributed by MLS Grid
• 2025-12-05 Listed — RMLSA as Distributed by MLS Grid