303 W 3rd St · Lineville, IA 50147

$55,000

2 bd · 1.0 ba · 834 sqft · SingleFamily public records · 163 Days on market

Built 1900 8,276 sqft lot ↓ 27% 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
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

With renovations already started on this property, it offers a fantastic opportunity for buyers looking to put their personal touch on their next home. Notable updates include a new roof installed in 2022, as well as windows and siding replaced in 2019. Featuring three bedrooms and a full bathroom, this house boasts solid bones and a classic layout that’s ready for your vision. While the home does need some TLC, it’s the perfect project for investors, DIY enthusiasts, or anyone eager to create their dream space. Enjoy the tranquility of the quiet street while being just minutes away from local amenities. This property is being sold as-is. Don’t miss your chance to unlock this home’s true potential and make it your own!

Key facts

• Quiet street
• Siding replaced
• Windows replaced

Tags

• NEW ROOF
• WINDOWS REPLACED
• SIDING REPLACED
• QUIET STREET
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($856 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#684 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment C-, schools F.
• Wayne Community School District (rural): math 69% / reading 74% proficiency, ranked #139 of 289 in IA (top 48%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 6 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($380 loan paydown + $3k appreciation (6.3% local appreciation)).
• Wayne County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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 1900 — 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 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?
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: 1.56% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.96%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.54×
• Total profit: $39,053
• Equity at exit: $35,801

10-year hold

• IRR: 35.7%
• Equity multiple: 7.32×
• Total profit: $97,298
• Equity at exit: $66,008

Cash invested: $15,400 (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 50147

• Home prices YoY: 6.8%
• Active inventory: 4
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $856 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $346

Break-even live

Break-even rent $418

Max offer price $55,000

Occupancy floor 55%

Sensitivity live

Price	-10% $377	-5% $362	+0% $346	+5% $330	+10% $315
Rent	-10% $278	-5% $312	+0% $346	+5% $380	+10% $414
Rate	-1.0pp $374	-0.5pp $360	base $346	+0.5pp $332	+1.0pp $317

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $55,000 Active 163 DOM
2. 2026-06-18
   days on market $55,000 Active 161 DOM
3. 2026-06-17
   days on market $55,000 Active 160 DOM
4. 2026-06-16
   days on market $55,000 Active 159 DOM
5. 2026-06-15
   days on market $55,000 Active 158 DOM
6. 2026-06-13
   days on market $55,000 Active 156 DOM
7. 2026-06-12
   days on market $55,000 Active 155 DOM
8. 2026-06-09
   days on market $55,000 Active 152 DOM
9. 2026-06-08
   days on market $55,000 Active 151 DOM
10. 2026-06-07
    days on market $55,000 Active 150 DOM
11. 2026-06-04
    days on market $55,000 Active 146 DOM
12. 2026-06-02
    days on market $55,000 Active 145 DOM
13. 2026-06-01
    days on market $55,000 Active 144 DOM
14. 2026-05-31
    days on market $55,000 Active 143 DOM
15. 2026-05-31
    days on market $55,000 Active 142 DOM
16. 2026-05-01
    price $55,000 752-char remark

    Show marketing remark (752 chars)

    With renovations already started on this property, it offers a fantastic opportunity for buyers looking to put their personal touch on their next home. Notable updates include a new roof installed in 2022, as well as windows and siding replaced in 2019. Featuring three bedrooms and a full bathroom, this house boasts solid bones and a classic layout that’s ready for your vision. While the home does need some TLC, it’s the perfect project for investors, DIY enthusiasts, or anyone eager to create their dream space. Enjoy the tranquility of the quiet street while being just minutes away from local amenities. This property is being sold as-is. Don’t miss your chance to unlock this home’s true potential and make it your own!

17. 2026-03-30
    price $58,000 752-char remark

    Show marketing remark (752 chars)

    With renovations already started on this property, it offers a fantastic opportunity for buyers looking to put their personal touch on their next home. Notable updates include a new roof installed in 2022, as well as windows and siding replaced in 2019. Featuring three bedrooms and a full bathroom, this house boasts solid bones and a classic layout that’s ready for your vision. While the home does need some TLC, it’s the perfect project for investors, DIY enthusiasts, or anyone eager to create their dream space. Enjoy the tranquility of the quiet street while being just minutes away from local amenities. This property is being sold as-is. Don’t miss your chance to unlock this home’s true potential and make it your own!

18. 2026-01-21
    price $65,000 752-char remark

    Show marketing remark (752 chars)

    With renovations already started on this property, it offers a fantastic opportunity for buyers looking to put their personal touch on their next home. Notable updates include a new roof installed in 2022, as well as windows and siding replaced in 2019. Featuring three bedrooms and a full bathroom, this house boasts solid bones and a classic layout that’s ready for your vision. While the home does need some TLC, it’s the perfect project for investors, DIY enthusiasts, or anyone eager to create their dream space. Enjoy the tranquility of the quiet street while being just minutes away from local amenities. This property is being sold as-is. Don’t miss your chance to unlock this home’s true potential and make it your own!

19. 2026-01-08
    listed $75,000 Active 752-char remark

    Show marketing remark (752 chars)

    With renovations already started on this property, it offers a fantastic opportunity for buyers looking to put their personal touch on their next home. Notable updates include a new roof installed in 2022, as well as windows and siding replaced in 2019. Featuring three bedrooms and a full bathroom, this house boasts solid bones and a classic layout that’s ready for your vision. While the home does need some TLC, it’s the perfect project for investors, DIY enthusiasts, or anyone eager to create their dream space. Enjoy the tranquility of the quiet street while being just minutes away from local amenities. This property is being sold as-is. Don’t miss your chance to unlock this home’s true potential and make it your own!

ⓘ 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: $228 · $19/mo
• Projected year-2 tax: $546 · $45/mo
• Expected delta: +$318/yr (+$26/mo · 139.4%)

ⓘ 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 4/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,274
• − Mortgage interest: −$3,081
• − Property taxes: −$228
• − Insurance: −$275
• − Repairs & maintenance: −$822
• − Management: −$822
• − Depreciation: −$1,600
• Taxable income: $3,446
• Est. tax owed @ 24.0%: −$827
• After-tax cash flow: $3,325/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: Wayne Community School District
• NCES district ID: 1930560
• Math proficiency: 69% ▼ -7.00%
• Reading proficiency: 74% ▲ 4.00%
• Median HH income: $40,872
• Composite: 59.73/100
• National rank: #902
• State rank: #139 of 289 in IA

Livability — Lineville

• Score: 63/100
• State rank: #684
• US rank: #15831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lineville, IA
• Population (ZIP): 355

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 6,213 people
• By 2030: 6,109 · -1.7%
• By 2040: 5,926 · -4.6%
• By 2050: 5,716 · -8.0%
• By 2075: 5,502 · -11.4%
• By 2100: 4,890 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 8%
• Common ancestry: Italian 6% Iranian 3% Slovak 2%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+57.2) · D 20.6% · R 77.8% · Other 1.6%
• 2008→2024 swing: -50.2pp toward R · 2008: -7.0pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+51.8 2016: R+46.2 2012: R+11.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.35%
• Current HPI: 99.9541
• 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

-26.7% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $55,000 IAR
• 2026-03-30 Price Changed $58,000 IAR
• 2026-01-21 Price Changed $65,000 IAR
• 2026-01-08 Listed $75,000 IAR

Property tax history

+15.3%/yr

Latest (2025): $228 · +4.6% YoY. Source: county tax records.