1340 8th St · Marion, IA 52302

$152,500

3 bd · 1.0 ba · 1,171 sqft · SingleFamily public records · 23 Days on market

Built 1880 7,405 sqft lot $130/sqft · 14% below area Est $177k · 14% under

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Why this score? — see what drove the C- 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).

• ARV discount +13.7/15.0
• Cash flow +12.4/30.0
• Schools +5.8/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Offering a perfect blend of comfort, convenience, and functionality, this four-bedroom, one-bath home is well-suited for a variety of lifestyles. From the moment you arrive, you’ll appreciate the convenience of a spacious two-car garage, providing ample room for vehicles, storage, or hobbies. An updated kitchen is sure to please. The full bathroom is conveniently located and functional, with potential for updates to suit your personal style. One of the standout features of this property is the fully fenced backyard—ideal for pets, play, or outdoor entertaining. Whether you envision summer barbecues, a garden oasis, or simply a quiet place to relax after a long day, this backyard offers both privacy and possibility. Location is truly a highlight. Situated close to a wide variety of shopping options and local restaurants, daily errands and dining out are always within easy reach. Downtown Marion is just minutes away, offering community events, local businesses, and small-town charm that make this area so desirable. Property being sold As Is.

Key facts

• 7,405 sq ft lot
• 2 parking spots
• Built 1880

Tags

• SPACIOUS TWO-CAR GARAGE
• FULLY FENCED BACKYARD
• CLOSE TO SHOPPING OPTIONS
• CLOSE TO LOCAL RESTAURANTS
• MINUTES TO DOWNTOWN MARION

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: 2 parking spaces (on street and off street)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Frame construction; Block foundation; Slate roof; Built in 1,171 sq ft above grade
• Exterior features: Patio; Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Other interior features; Full basement with block construction
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $-24 ($-286/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (15.9% below list).
• Recommended offer: $128k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Marion — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#19 in IA, #633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Marion Independent School District (suburban): math 68% / reading 70% proficiency, ranked #158 of 289 in IA (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Longfellow Elementary (318 students, 38% FRL); Vernon Middle School (math 66% / reading 65%, grade A-, #153 of 246 statewide, top 62%, 668 students, 40% FRL); Marion High School (math 69% / reading 80%, grade B+, #89 of 336 statewide, top 30%, 722 students, 28% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 455 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent is only 17% of the median local income ($88k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $26k; list at $152k implies a 487% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,218 (15.9% 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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.84% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.9

CMA / ARV

• ARV (median comp): $176,810
• List price: $152,500
• Delta: -11.26%
• 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
1290 8th St	0.02mi	3/1.0	1,079 (-8%)	4mo	$52,250	$48	82
1140 11th St	0.21mi	3/1.0	1,196 (+2%)	10mo	$75,000	$63	79
976 7th St	0.20mi	2/1.0 (-1)	1,148 (-2%)	10mo	$165,000	$144	74
975 6th St	0.20mi	3/1.0	1,280 (+9%)	4mo	$189,000	$148	72
937 8th St	0.22mi	3/1.0	1,036 (-12%)	0mo	$172,000	$166	70
287 8th Ave Ave	0.46mi	3/2.0	1,214 (+4%)	4mo	$155,000	$128	65
245 8th Ave	0.48mi	3/2.0	1,265 (+8%)	3mo	$184,900	$146	58
261 Larick Dr	0.61mi	3/1.5	1,268 (+8%)	0mo	$235,000	$185	55
620 6th Ave	0.43mi	3/1.0	1,008 (-14%)	2mo	$172,000	$171	54
1055 17th St	0.50mi	3/2.0	1,318 (+13%)	5mo	$204,500	$155	48
1942 Bowstring Dr	0.61mi	2/2.0 (-1)	1,286 (+10%)	3mo	$327,500	$255	44
1550 Maplecrest Dr	0.62mi	3/3.0	1,324 (+13%)	7mo	$174,900	$132	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.54×
• Total profit: $-19,445
• Equity at exit: $22,738

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $11,988
• Equity at exit: $13,185

Cash invested: $42,700 (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 52302

• Rents YoY: 8.4%
• Active inventory: 455
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$800
• Tax from tax record: −$174 /mo · $2,082/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-24

Break-even live

Break-even rent $1,312

Max offer price $148,287

Occupancy floor 97%

Sensitivity live

Price	-10% $62	-5% $19	+0% $-24	+5% $-67	+10% $-110
Rent	-10% $-125	-5% $-74	+0% $-24	+5% $27	+10% $77
Rate	-1.0pp $53	-0.5pp $15	base $-24	+0.5pp $-63	+1.0pp $-104

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: $38,125
• Closing costs: $4,575
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 18th St Apt 3 Marion, IA	2.0	1.0	800	$975	$1.22	44d	1	0.61mi
345 Marion Blvd Marion, IA	2.0	1.0–2.0	680	$2,600	$3.82	14d	1	0.91mi
820 27th St Unit 3C Marion, IA	2.0	1.0	756	$1,000	$1.32	14d	1	0.99mi
2615 5th Ave Marion, IA	2.0	1.0	800	$675	$0.84	22d	1	1.07mi
2899 5th Ave Unit 2 Marion, IA	2.0	1.0	900	$1,200	$1.33	14d	1	1.16mi
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	44d	1	1.21mi
2799 29th Ave Marion, IA	4.0	2.0	1394	$1,995	$1.43	44d	1	1.27mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	22d	1	1.30mi
400 Lindale Dr Marion, IA	3.0	2.0	942	$1,092	$1.16	14d	1	1.33mi
1501 Grand Ave Marion, IA	2.0	1.0	800	$868	$1.08	44d	1	1.37mi

Listing history 35 events

1. 2026-06-19
   days on market $152,500 Active 23 DOM
2. 2026-06-18
   days on market $152,500 Active 22 DOM
3. 2026-06-17
   days on market $152,500 Active 21 DOM
4. 2026-06-16
   days on market $152,500 Active 20 DOM
5. 2026-06-15
   days on market $152,500 Active 19 DOM
6. 2026-06-14
   days on market $152,500 Active 17 DOM
7. 2026-06-13
   pricedays on market $152,500 Active 16 DOM
8. 2026-06-10
   days on market $154,900 Active 14 DOM
9. 2026-06-09
   days on market $154,900 Active 13 DOM
10. 2026-06-08
    days on market $154,900 Active 12 DOM
11. 2026-06-07
    days on market $154,900 Active 11 DOM
12. 2026-06-03
    days on market $154,900 Active 7 DOM
13. 2026-06-02
    days on market $154,900 Active 6 DOM
14. 2026-06-01
    days on market $154,900 Active 5 DOM
15. 2026-05-31
    days on market $154,900 Active 4 DOM
16. 2026-05-30
    days on market $154,900 Active 3 DOM
17. 2026-05-14
    price $156,900 1067-char remark
18. 2026-05-14
    price $156,900 1283-char remark
19. 2026-05-01
    status Active 1283-char remark
20. 2026-05-01
    status Active 1067-char remark
21. 2026-04-14
    status Pending 1283-char remark
22. 2026-04-14
    status Pending 1067-char remark
23. 2026-04-10
    price $159,900 1283-char remark
24. 2026-04-10
    price $159,900 1067-char remark
25. 2026-03-11
    price $162,500 1283-char remark
26. 2026-03-11
    price $162,500 1067-char remark
27. 2026-02-19
    price $165,000 1283-char remark
28. 2026-02-19
    price $165,000 1067-char remark
29. 2026-01-16
    price $167,500 1283-char remark
30. 2026-01-16
    price $167,500 1067-char remark
31. 2026-01-09
    price $170,000 1067-char remark
32. 2026-01-09
    price $170,000 1283-char remark
33. 2026-01-02
    listed $175,000 Active 1283-char remark
34. 2026-01-02
    listed $175,000 Active 1067-char remark
35. 1985-11-01
    soldstatus $26,000

ⓘ 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: $2,082 · $174/mo
• Projected year-2 tax: $2,238 · $187/mo
• Expected delta: +$156/yr (+$13/mo · 7.5%)

ⓘ 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 1/10 Low
• 🌡 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: $15,386
• − Mortgage interest: −$8,542
• − Property taxes: −$2,082
• − Insurance: −$762
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$4,436
• Taxable loss: −$2,899
• Est. tax savings @ 24.0%: +$696
• After-tax cash flow: $410/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: Marion Independent School District
• NCES district ID: 1918690
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $49,541
• Composite: 58.49/100
• National rank: #997
• State rank: #158 of 289 in IA

Livability — Marion

• Score: 84/100
• State rank: #19
• US rank: #633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IA
• County: Linn County · 179,860 people
• City population: 42,706
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,706
• Household income: $87,983
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 940.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.98%
• Current HPI: 199.2949
• Rent YoY: ▲ 8.37%
• Metro: Cedar Rapids, IA
• 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

+486.5% since first listed

20 events — show timeline

• 2026-06-11 Price Changed $152,500 ICAARMLS
• 2026-06-11 Price Changed $152,500 CRAAR, CDRMLS
• 2026-05-27 Listed $154,900 CRAAR, CDRMLS
• 2026-05-27 Listed $154,900 ICAARMLS
• 2026-05-14 Price Changed $156,900 CRAAR, CDRMLS
• 2026-05-14 Price Changed $156,900 ICAARMLS
• 2026-05-01 Relisted — ICAARMLS
• 2026-04-14 Pending — ICAARMLS
• 2026-04-10 Price Changed $159,900 ICAARMLS
• 2026-04-10 Price Changed $159,900 CRAAR, CDRMLS
• 2026-03-11 Price Changed $162,500 ICAARMLS
• 2026-03-11 Price Changed $162,500 CRAAR, CDRMLS
• 2026-02-19 Price Changed $165,000 ICAARMLS
• 2026-02-19 Price Changed $165,000 CRAAR, CDRMLS
• 2026-01-16 Price Changed $167,500 ICAARMLS
• 2026-01-16 Price Changed $167,500 CRAAR, CDRMLS
• 2026-01-09 Price Changed $170,000 CRAAR, CDRMLS
• 2026-01-09 Price Changed $170,000 ICAARMLS
• 2026-01-02 Listed $175,000 ICAARMLS
• 1985-11-01 Sold (Public Records) $26,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,082 · +3.1% YoY. Source: county tax records.