1227 Smalley St · Muscatine, IA 52761

$165,000

5 bd · 3.0 ba · 2,696 sqft · MultiFamily public records · 1 Days on market

Built 1878

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

PC2347 Information per courthouse records. Lots of potential for this duplex. Features large rooms & new water heaters, one newer furnace & a 2.5 car garage.

Key facts

• Garage
• Built 1878

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Parking: Detached parking with space for 3 vehicles
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property
• Exterior features: Lot dimensions approximately 47x125 and 25x110; Zoned residential

Interior

• Kitchen: Refrigerator
• Interior features: Includes washer, dryer, and refrigerator; Basement present
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive. Per door: $358/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).

Location & tenants

• Location reads 70/100 on livability (#358 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety D+, amenities F, commute F.
• Muscatine Community School District (town): math 55% / reading 59% proficiency, ranked #257 of 289 in IA (top 89%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 188 active listings in the ZIP; 65 units permitted in Muscatine County in 2024 (45 in 5+ unit buildings).

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.
• Muscatine County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $37k; list at $165k implies a 346% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.57%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.3%
• Equity multiple: 1.41×
• Total profit: $18,843
• Equity at exit: $24,602

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $75,195
• Equity at exit: $14,266

Cash invested: $46,200 (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 52761

• Active inventory: 188
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,347 high
• Mortgage (P&I): −$865
• Tax from tax record: −$205 /mo · $2,460/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $715

Break-even live

Break-even rent $1,442

Max offer price $165,000

Occupancy floor 65%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,348
Total (2 units)			$2,347

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-22
   status Pending
2. 2026-05-22
   listed $165,000 Active
3. 2007-04-03
   soldstatus $37,000
4. 2007-03-30
   soldstatus $37,000 169-char remark

   Show marketing remark (169 chars)

   PC2347 Information per courthouse records. Lots of potential for this duplex. Features large rooms & new water heaters, one newer furnace & a 2.5 car garage.

ⓘ 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: $2,460 · $205/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$65/yr (+$5/mo · 2.7%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,164
• − Mortgage interest: −$9,243
• − Property taxes: −$2,460
• − Insurance: −$825
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − Depreciation: −$4,800
• Taxable income: $6,330
• Est. tax owed @ 24.0%: −$1,519
• After-tax cash flow: $7,062/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: Muscatine Community School District
• NCES district ID: 1920130
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $50,193
• Composite: 48.6/100
• National rank: #2110
• State rank: #257 of 289 in IA

Livability — Muscatine

• Score: 70/100
• State rank: #358
• US rank: #7508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muscatine, IA
• City population: 29,800
• Population (ZIP): 29,800

Population outlook (Muscatine County) Hauer SSP2

• Today (2025): 44,820 people
• By 2030: 45,461 · +1.4%
• By 2040: 46,765 · +4.3%
• By 2050: 48,609 · +8.5%
• By 2075: 56,014 · +25.0%
• By 2100: 63,513 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 11% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Muscatine

• 2024 margin: R (+14.9) · D 41.7% · R 56.6% · Other 1.7%
• 2008→2024 swing: -30.6pp toward R · 2008: 15.7pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+7.0 2016: R+6.6 2012: D+15.5 2008: D+15.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.30%
• Current HPI: 182.4493
• 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

+345.9% since first listed

4 events — show timeline

• 2026-05-22 Pending — Muscatine BOR
• 2026-05-22 Listed $165,000 Muscatine BOR
• 2007-04-03 Sold (Public Records) $37,000 Public Records
• 2007-03-30 Sold (MLS) $37,000 Muscatine BOR

Property tax history

+2.6%/yr

Latest (2025): $2,460 · +4.9% YoY. Source: county tax records.