304 W North St · Manly, IA 50456

$74,900

3 bd · 1.5 ba · 1,320 sqft · SingleFamily public records · 71 Days on market

Built 1936 0.28 ac lot $57/sqft · 39% below area Est $133k · 44% under

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

She might be a fixer upper, but there's a gem just waiting to be revealed. This home has so many fun elements just waiting to be given the time and attention it deserves. In this quiet town you can find the aquatic center, railroad museum, and many other small town amenities, or you can take a brisk drive to the Mason City/Clear Lake area for a bigger array of amenities. Don't miss your opportunity to make this your dream home.

Key facts

• 0.28 acre lot
• Built 1936
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#142 in IA, #2,573 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Central Springs Community School District (rural): math 75% / reading 76% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1936 — 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 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: 1.52% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.37%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (median comp): $133,271
• List price: $74,900
• Delta: -43.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 E Walnut St	0.37mi	3/1.0	1,374 (+4%)	1mo	$112,000	$82	73
220 W Bosworth St St	0.08mi	4/1.5 (+1)	1,248 (-6%)	14mo	$174,000	$139	70
235 W Bosworth St	0.05mi	3/2.5	1,496 (+13%)	4mo	$202,000	$135	68
201 Sterling Dr Dr	0.20mi	3/2.0	1,456 (+10%)	6mo	$305,000	$209	66
340 E Main St	0.53mi	3/1.0	1,332 (+1%)	9mo	$56,500	$42	64
311 W Walnut St	0.16mi	4/1.5 (+1)	1,494 (+13%)	9mo	$133,500	$89	58
108 E Walnut St St	0.29mi	3/1.0	1,410 (+7%)	19mo	$105,000	$74	57
127 E Elmore St St	0.42mi	3/1.5	1,473 (+12%)	6mo	$82,000	$56	56
900 N Grant St	0.49mi	2/1.0 (-1)	1,312 (-1%)	22mo	$29,700	$23	50
210 E Taft St St	0.58mi	3/1.0	1,188 (-10%)	6mo	$145,000	$122	49

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $10,570
• Equity at exit: $11,168

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $38,540
• Equity at exit: $6,476

Cash invested: $20,972 (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 50456

• Home prices YoY: -2.6%
• Active inventory: 4
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,142 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $356

Break-even live

Break-even rent $691

Max offer price $74,900

Occupancy floor 64%

Sensitivity live

Price	-10% $398	-5% $377	+0% $356	+5% $335	+10% $314
Rent	-10% $266	-5% $311	+0% $356	+5% $401	+10% $446
Rate	-1.0pp $394	-0.5pp $375	base $356	+0.5pp $337	+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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $74,900 Active 71 DOM
2. 2026-06-18
   days on market $74,900 Active 69 DOM
3. 2026-06-17
   days on market $74,900 Active 68 DOM
4. 2026-06-16
   days on market $74,900 Active 67 DOM
5. 2026-06-15
   days on market $74,900 Active 66 DOM
6. 2026-06-13
   days on market $74,900 Active 64 DOM
7. 2026-06-12
   days on market $74,900 Active 63 DOM
8. 2026-06-09
   days on market $74,900 Active 60 DOM
9. 2026-06-08
   days on market $74,900 Active 59 DOM
10. 2026-06-07
    days on market $74,900 Active 58 DOM
11. 2026-06-07
    days on market $74,900 Active 57 DOM
12. 2026-06-04
    pricedays on market $74,900 Active 54 DOM
13. 2026-06-02
    days on market $82,900 Active 53 DOM
14. 2026-06-01
    days on market $82,900 Active 52 DOM
15. 2026-05-31
    days on market $82,900 Active 51 DOM
16. 2026-05-31
    days on market $82,900 Active 50 DOM
17. 2026-04-10
    listed $82,900 Active 431-char remark

    Show marketing remark (431 chars)

    She might be a fixer upper, but there's a gem just waiting to be revealed. This home has so many fun elements just waiting to be given the time and attention it deserves. In this quiet town you can find the aquatic center, railroad museum, and many other small town amenities, or you can take a brisk drive to the Mason City/Clear Lake area for a bigger array of amenities. Don't miss your opportunity to make this your dream home.

18. 2006-07-20
    soldstatus $80,000

ⓘ 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: $1,464 · $122/mo
• Projected year-2 tax: $1,464 · $122/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $13,701
• − Mortgage interest: −$4,196
• − Property taxes: −$1,464
• − Insurance: −$374
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$2,179
• Taxable income: $3,296
• Est. tax owed @ 24.0%: −$791
• After-tax cash flow: $3,481/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: Central Springs Community School District
• NCES district ID: 1920760
• Math proficiency: 75% ▲ 3.00%
• Reading proficiency: 76% ▲ 15.00%
• Median HH income: $54,070
• Composite: 64.32/100
• National rank: #553
• State rank: #64 of 289 in IA

Livability — Manly

• Score: 78/100
• State rank: #142
• US rank: #2573

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manly, IA
• Population (ZIP): 1,758

Population outlook (Worth County) Hauer SSP2

• Today (2025): 7,751 people
• By 2030: 7,775 · +0.3%
• By 2040: 7,722 · -0.4%
• By 2050: 7,645 · -1.4%
• By 2075: 7,785 · +0.4%
• By 2100: 7,554 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Portuguese 10% Italian 2% Lithuanian 1%

Political lean MEDSL · Worth

• 2024 margin: Strong R (+28.2) · D 35.2% · R 63.5% · Other 1.3%
• 2008→2024 swing: -50.6pp toward R · 2008: 22.4pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+25.9 2016: R+21.8 2012: D+14.5 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.59%
• Current HPI: 206.771
• 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

+3.6% since first listed

2 events — show timeline

• 2026-04-10 Listed $82,900 Iowa Great Lakes BOR
• 2006-07-20 Sold (Public Records) $80,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,464 · +34.6% YoY. Source: county tax records.