211 2nd St · Murray, IA 50174

$72,000

3 bd · 1.0 ba · 1,256 sqft · SingleFamily public records · 145 Days on market

Built 1910 0.31 ac lot $57/sqft · 36% below area Est $113k · 36% under ↓ 28% since listing

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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 +28.6/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Appreciation +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

Key facts

• Large lot
• 0.31 acre lot
• 2 garage spots

Tags

• LARGE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#565 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: employment D, amenities F, commute F.
• Murray Community School District (rural): math 75% / reading 75% proficiency, ranked #117 of 330 in IA (top 36%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 10 active listings in the ZIP; 125 units permitted in Clarke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($498 loan paydown + $2k appreciation (2.3% local appreciation)).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $18k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 10.25%
• Cash-on-cash: 14.15%
• DSCR: 1.63
• GRM: 5.3

CMA / ARV

• ARV (median comp): $113,345
• List price: $72,000
• Delta: -36.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Lyon St	0.29mi	3/1.0	1,328 (+6%)	3mo	$162,500	$122	74
320 1st St	0.15mi	2/1.0 (-1)	1,176 (-6%)	6mo	$28,500	$24	72
101 1st St	0.10mi	3/2.0	1,328 (+6%)	14mo	$98,600	$74	70
230 5th St	0.18mi	3/2.0	1,187 (-6%)	12mo	$88,000	$74	68
718 8th St	0.54mi	3/1.0	1,088 (-13%)	12mo	$160,000	$147	43
917 Lyon St	0.56mi	3/1.5	1,152 (-8%)	18mo	$161,500	$140	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.05×
• Total profit: $21,188
• Equity at exit: $29,467

10-year hold

• IRR: 21.1%
• Equity multiple: 3.87×
• Total profit: $57,878
• Equity at exit: $43,270

Cash invested: $20,160 (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 50174

• Home prices YoY: 1.3%
• Active inventory: 10
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$242 /mo · $2,901/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $238

Break-even live

Break-even rent $822

Max offer price $72,000

Occupancy floor 74%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $72,000 Active 145 DOM
2. 2026-06-17
   days on market $72,000 Active 144 DOM
3. 2026-06-16
   days on market $72,000 Active 143 DOM
4. 2026-06-15
   days on market $72,000 Active 142 DOM
5. 2026-06-14
   days on market $72,000 Active 140 DOM
6. 2026-06-13
   days on market $72,000 Active 139 DOM
7. 2026-06-10
   days on market $72,000 Active 137 DOM
8. 2026-06-09
   days on market $72,000 Active 136 DOM
9. 2026-06-08
   days on market $72,000 Active 135 DOM
10. 2026-06-07
    days on market $72,000 Active 134 DOM
11. 2026-06-05
    days on market $72,000 Active 131 DOM
12. 2026-06-03
    days on market $72,000 Active 130 DOM
13. 2026-06-02
    days on market $72,000 Active 129 DOM
14. 2026-06-01
    days on market $72,000 Active 128 DOM
15. 2026-05-31
    days on market $72,000 Active 127 DOM
16. 2026-05-31
    days on market $72,000 Active 126 DOM
17. 2026-05-20
    price $72,000 313-char remark

    Show marketing remark (313 chars)

    Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

18. 2026-04-26
    price $76,500 313-char remark

    Show marketing remark (313 chars)

    Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

19. 2026-03-23
    price $81,000 313-char remark

    Show marketing remark (313 chars)

    Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

20. 2026-02-23
    price $86,500 313-char remark

    Show marketing remark (313 chars)

    Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

21. 2026-01-23
    listed $90,000 Active 313-char remark

    Show marketing remark (313 chars)

    Investors or home buyers looking to put some sweat equity into a place this home is for you. The bank owned property features a large lot, 2 stall garage, with 3 beds and 1 bath. The kitchen is down to drywall so you have a clean slate to put cabinets and counters in of your choice. The home is being sold as is.

22. 2021-08-11
    soldstatus $95,000
23. 2021-08-02
    soldstatus $95,000 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

24. 2021-08-02
    soldstatus $95,000 Sold 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

25. 2021-06-03
    status Pending 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

26. 2021-05-05
    price $100,000 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

27. 2021-04-12
    listed $100,000 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

28. 2021-04-12
    listed $125,000 Active 528-char remark

    Show marketing remark (528 chars)

    Newly sided/painted 3 Bedroom home located in small town Murray! Main floor has very large kitchen with room for dining table, includes oven and refrigerator. Bathroom and laundry also located on the main level. Living area has access to the very spacious 4 season front porch! Upstairs there are 3 bedrooms and a large landing area that could be utilized as a 4th bedroom if desired. The large backyard is the perfect spot for kids, a firepit or pets to roam! Property also includes a newly sided & roofed garage as well!

ⓘ 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: $2,901 · $242/mo
• Projected year-2 tax: $2,901 · $242/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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,473
• − Mortgage interest: −$4,033
• − Property taxes: −$2,901
• − Insurance: −$360
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$2,095
• Taxable income: $1,929
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $2,389/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: Murray Community School District
• NCES district ID: 1920100
• Math proficiency: 75% ▼ -5.00%
• Reading proficiency: 75% ▬ 0.00%
• Median HH income: $43,028
• Composite: 63.84/100
• National rank: #1214
• State rank: #117 of 330 in IA

Livability — Murray

• Score: 65/100
• State rank: #565
• US rank: #12783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murray, IA
• Population (ZIP): 1,312

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 9,307 people
• By 2030: 9,294 · -0.1%
• By 2040: 9,259 · -0.5%
• By 2050: 9,345 · +0.4%
• By 2075: 10,219 · +9.8%
• By 2100: 11,526 · +23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Iranian 7% Portuguese 1% Subsaharan African 1%
• Foreign-born: 3% · Canada
• Languages at home: 84% English-only · German/W. Germanic 12% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid R (+42.0) · D 28.4% · R 70.4% · Other 1.2%
• 2008→2024 swing: -44.3pp toward R · 2008: 2.2pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+35.9 2016: R+28.2 2012: D+1.4 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.27%
• Current HPI: 178.2786
• 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

-28.0% since first listed

12 events — show timeline

• 2026-05-20 Price Changed $72,000 DMMLS
• 2026-04-26 Price Changed $76,500 DMMLS
• 2026-03-23 Price Changed $81,000 DMMLS
• 2026-02-23 Price Changed $86,500 DMMLS
• 2026-01-23 Listed $90,000 DMMLS
• 2021-08-11 Sold (Public Records) $95,000 Public Records
• 2021-08-02 Sold (MLS) $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-02 Sold (MLS) $95,000 IAR
• 2021-06-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-05 Price Changed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-12 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-12 Listed $100,000 IAR

Property tax history

+10.1%/yr

Latest (2025): $2,901 · +46.8% YoY. Source: county tax records.