306 NW 2nd St · Melcher-Dallas, IA 50163

$99,900

3 bd · 1.5 ba · 1,200 sqft · SingleFamily public records · 251 Days on market

Built 1925 7,100 sqft lot $83/sqft · 34% below area Est $152k · 34% under

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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 +22.0/30.0
• ARV discount +15.0/15.0
• Appreciation +8.5/10.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

WELCOME HOME! Come see this 2+ bed/1.5 bath country chic home with everything on one level! 1200 sq ft of finish! The main floor features an open & spacious dining/living room! The kitchen offers plenty of cabinet & work space, newer counters, custom mason jar light fixture & all appliances included! There are two bedrooms PLUS a bonus flex room/enclosed porch at front of the home! The main bath continues the rustic vibe and features a shower! Right down the hall is a spacious half bath / main floor laundry room with a BONUS tub/shower in it – perfect for everyone to get ready at the same time! The basement is unfinished & would be a great space for shelter/storage/utility – not finishable! Outside you’ll love the back yard with room for kids/pets to run around! The covered back porch is a great spot to relax! There’s a fenced area with pool included! The roomy 1-car garage is approx 18x22 with space to park, work & store! The community offers small-town living at its best with in-town schools, restaurants, bar, bank, clinic, library, auto repair, Casey's & Dollar General! All information obtained from seller and public records.

Key facts

• Bonus flex room
• Spacious half bath
• Covered back porch

Tags

• CUSTOM MASON JAR LIGHT FIXTURE
• BONUS FLEX ROOM
• SPACIOUS HALF BATH
• MAIN FLOOR LAUNDRY ROOM
• COVERED BACK PORCH
• FENCED AREA WITH POOL

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Melcher-Dallas Community School District (rural): math 51% / reading 63% proficiency, ranked #259 of 289 in IA (top 90%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Melcher-Dallas Elem (math 52% / reading 57%, grade C, #462 of 616 statewide, top 79%, 177 students, 31% FRL); Melcher-Dallas High School (math 52% / reading 67%, grade C+, #263 of 336 statewide, top 81%, 153 students, 34% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($691 loan paydown + $7k appreciation (7.1% local appreciation)).
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $100k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1925 — 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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (median comp): $151,844
• List price: $99,900
• Delta: -34.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 NW 1st St	0.17mi	3/2.0	1,116 (-7%)	8mo	$158,000	$142	72
712 Jackson St	0.47mi	3/2.0	1,296 (+8%)	1mo	$86,900	$67	62
502 SW Main St	0.56mi	3/3.0	1,136 (-5%)	2mo	$177,000	$156	57
604 Garfield St	0.30mi	4/2.0 (+1)	1,272 (+6%)	18mo	$210,000	$165	54
315 SW 1st St	0.45mi	3/1.5	1,374 (+14%)	1mo	$161,000	$117	54
801 Walnut St	0.66mi	3/1.0	1,264 (+5%)	6mo	$164,900	$130	54
402 2nd St SW	0.47mi	2/1.5 (-1)	1,062 (-12%)	2mo	$160,000	$151	52
711 Jackson St	0.46mi	3/1.0	1,026 (-14%)	8mo	$60,000	$58	46
315 SE 2nd St	0.45mi	2/1.5 (-1)	1,056 (-12%)	11mo	$145,000	$137	45
516 SE 1st St	0.64mi	3/2.0	1,304 (+9%)	12mo	$167,000	$128	44
709 Grand St	0.75mi	3/1.0	1,092 (-9%)	9mo	$165,900	$152	40
102 Church St	0.40mi	3/1.0	1,377 (+15%)	19mo	$55,000	$40	39

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

Projected returns pro-forma

7.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.62×
• Total profit: $45,411
• Equity at exit: $69,673

10-year hold

• IRR: 21.6%
• Equity multiple: 5.45×
• Total profit: $124,339
• Equity at exit: $132,751

Cash invested: $27,972 (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 50163

• Home prices YoY: 4.3%
• Active inventory: 6
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$71 /mo · $856/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $159

Break-even live

Break-even rent $806

Max offer price $99,900

Occupancy floor 79%

Sensitivity live

Price	-10% $216	-5% $187	+0% $159	+5% $131	+10% $102
Rent	-10% $79	-5% $119	+0% $159	+5% $199	+10% $239
Rate	-1.0pp $209	-0.5pp $184	base $159	+0.5pp $133	+1.0pp $107

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-22
   days on market $99,900 Active 251 DOM
2. 2026-06-21
   days on market $99,900 Active 250 DOM
3. 2026-06-19
   days on market $99,900 Active 248 DOM
4. 2026-06-18
   days on market $99,900 Active 247 DOM
5. 2026-06-17
   days on market $99,900 Active 246 DOM
6. 2026-06-16
   days on market $99,900 Active 245 DOM
7. 2026-06-15
   days on market $99,900 Active 244 DOM
8. 2026-06-14
   days on market $99,900 Active 242 DOM
9. 2026-06-12
   days on market $99,900 Active 241 DOM
10. 2026-06-09
    days on market $99,900 Active 238 DOM
11. 2026-06-08
    days on market $99,900 Active 237 DOM
12. 2026-06-07
    days on market $99,900 Active 236 DOM
13. 2026-06-05
    days on market $99,900 Active 234 DOM
14. 2026-06-03
    days on market $99,900 Active 232 DOM
15. 2026-06-02
    days on market $99,900 Active 231 DOM
16. 2026-06-01
    days on market $99,900 Active 230 DOM
17. 2026-05-31
    days on market $99,900 Active 229 DOM
18. 2026-05-30
    days on market $99,900 Active 228 DOM
19. 2026-03-12
    price $99,900 1220-char remark

    Show marketing remark (1220 chars)

    WELCOME HOME! Come see this 2+ bed/1.5 bath country chic home with everything on one level! 1200 sq ft of finish! The main floor features an open & spacious dining/living room! The kitchen offers plenty of cabinet & work space, newer counters, custom mason jar light fixture & all appliances included! There are two bedrooms PLUS a bonus flex room/enclosed porch at front of the home! The main bath continues the rustic vibe and features a shower! Right down the hall is a spacious half bath / main floor laundry room with a BONUS tub/shower in it – perfect for everyone to get ready at the same time! The basement is unfinished & would be a great space for shelter/storage/utility – not finishable! Outside you’ll love the back yard with room for kids/pets to run around! The covered back porch is a great spot to relax! There’s a fenced area with pool included! The roomy 1-car garage is approx 18x22 with space to park, work & store! The community offers small-town living at its best with in-town schools, restaurants, bar, bank, clinic, library, auto repair, Casey's & Dollar General! All information obtained from seller and public records.

20. 2025-12-10
    price $109,900 1220-char remark

    Show marketing remark (1220 chars)

    WELCOME HOME! Come see this 2+ bed/1.5 bath country chic home with everything on one level! 1200 sq ft of finish! The main floor features an open & spacious dining/living room! The kitchen offers plenty of cabinet & work space, newer counters, custom mason jar light fixture & all appliances included! There are two bedrooms PLUS a bonus flex room/enclosed porch at front of the home! The main bath continues the rustic vibe and features a shower! Right down the hall is a spacious half bath / main floor laundry room with a BONUS tub/shower in it – perfect for everyone to get ready at the same time! The basement is unfinished & would be a great space for shelter/storage/utility – not finishable! Outside you’ll love the back yard with room for kids/pets to run around! The covered back porch is a great spot to relax! There’s a fenced area with pool included! The roomy 1-car garage is approx 18x22 with space to park, work & store! The community offers small-town living at its best with in-town schools, restaurants, bar, bank, clinic, library, auto repair, Casey's & Dollar General! All information obtained from seller and public records.

21. 2025-11-12
    price $115,000 1220-char remark

    Show marketing remark (1220 chars)

    WELCOME HOME! Come see this 2+ bed/1.5 bath country chic home with everything on one level! 1200 sq ft of finish! The main floor features an open & spacious dining/living room! The kitchen offers plenty of cabinet & work space, newer counters, custom mason jar light fixture & all appliances included! There are two bedrooms PLUS a bonus flex room/enclosed porch at front of the home! The main bath continues the rustic vibe and features a shower! Right down the hall is a spacious half bath / main floor laundry room with a BONUS tub/shower in it – perfect for everyone to get ready at the same time! The basement is unfinished & would be a great space for shelter/storage/utility – not finishable! Outside you’ll love the back yard with room for kids/pets to run around! The covered back porch is a great spot to relax! There’s a fenced area with pool included! The roomy 1-car garage is approx 18x22 with space to park, work & store! The community offers small-town living at its best with in-town schools, restaurants, bar, bank, clinic, library, auto repair, Casey's & Dollar General! All information obtained from seller and public records.

22. 2025-10-14
    listed $125,000 Active 1220-char remark

    Show marketing remark (1220 chars)

    WELCOME HOME! Come see this 2+ bed/1.5 bath country chic home with everything on one level! 1200 sq ft of finish! The main floor features an open & spacious dining/living room! The kitchen offers plenty of cabinet & work space, newer counters, custom mason jar light fixture & all appliances included! There are two bedrooms PLUS a bonus flex room/enclosed porch at front of the home! The main bath continues the rustic vibe and features a shower! Right down the hall is a spacious half bath / main floor laundry room with a BONUS tub/shower in it – perfect for everyone to get ready at the same time! The basement is unfinished & would be a great space for shelter/storage/utility – not finishable! Outside you’ll love the back yard with room for kids/pets to run around! The covered back porch is a great spot to relax! There’s a fenced area with pool included! The roomy 1-car garage is approx 18x22 with space to park, work & store! The community offers small-town living at its best with in-town schools, restaurants, bar, bank, clinic, library, auto repair, Casey's & Dollar General! All information obtained from seller and public records.

23. 2025-06-30
    historical
24. 2025-05-30
    price $119,900
25. 2025-04-23
    price $129,900
26. 2025-03-28
    price $139,900
27. 2025-03-07
    price $141,900
28. 2025-01-23
    listed $144,900 Active
29. 2007-11-21
    soldstatus $31,500
30. 2005-03-01
    soldstatus $29,000

ⓘ 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: $856 · $71/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$356/yr (+$30/mo · 41.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $12,089
• − Mortgage interest: −$5,596
• − Property taxes: −$856
• − Insurance: −$500
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$2,906
• Taxable income: $297
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $1,837/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: Melcher-Dallas Community School District
• NCES district ID: 1918960
• Math proficiency: 51% ▲ 6.00%
• Reading proficiency: 63% ▲ 13.00%
• Median HH income: $43,108
• Composite: 47.88/100
• National rank: #2215
• State rank: #259 of 289 in IA

Livability — Melcher-Dallas

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melcher-Dallas, IA
• City population: 1,502
• Population (ZIP): 669

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 6% Iranian 5% Slovak 3%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.07%
• Current HPI: 171.2671
• 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

+244.5% since first listed

12 events — show timeline

• 2026-03-12 Price Changed $99,900 DMMLS
• 2025-12-10 Price Changed $109,900 DMMLS
• 2025-11-12 Price Changed $115,000 DMMLS
• 2025-10-14 Listed $125,000 DMMLS
• 2025-06-30 Listing Removed — DMMLS
• 2025-05-30 Price Changed $119,900 DMMLS
• 2025-04-23 Price Changed $129,900 DMMLS
• 2025-03-28 Price Changed $139,900 DMMLS
• 2025-03-07 Price Changed $141,900 DMMLS
• 2025-01-23 Listed $144,900 DMMLS
• 2007-11-21 Sold (Public Records) $31,500 Public Records
• 2005-03-01 Sold (Public Records) $29,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $856 · +4.1% YoY. Source: county tax records.