503 S Maple St · Monticello, IA 52310

$115,000

4 bd · 2.5 ba · 1,820 sqft · MultiFamily public records · 64 Days on market

Built 1900 8,712 sqft lot $63/sqft · 33% below area Est $173k · 33% under ↓ 7% since listing

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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).

• Cash flow +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• Schools +6.0/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity in the heart of Monticello! This well-maintained duplex features two units, each offering 2 bedrooms and 1 bathroom with separate private entrances for added privacy and convenience. The upper and lower units provide comfortable living spaces and functional layouts that appeal to long-term tenants. This property currently generates steady rental income, making it a fantastic addition to any investment portfolio. Whether you're looking to expand your rental holdings or live in one unit while renting the other, this duplex offers flexibility and strong potential. Located in a convenient Monticello neighborhood with easy access to local amenities, shopping, and dining. Don't miss this opportunity to own an income-producing property in a growing community!

Key facts

• 8,712 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.4% in Monticello — 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 78/100 on livability (#149 in IA, #2,739 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Monticello Community School District (town): math 68% / reading 73% proficiency, ranked #131 of 289 in IA (top 45%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 47 active listings in the ZIP; 25 units permitted in Jones County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jones County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1900 — 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 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: 1.07% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 7.8

CMA / ARV

• ARV (median comp): $172,790
• List price: $115,000
• Delta: -33.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-9,515
• Equity at exit: $17,147

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $3,566
• Equity at exit: $9,943

Cash invested: $32,200 (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 52310

• Home prices YoY: -25.9%
• Active inventory: 47
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$178 /mo · $2,131/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $143

Break-even live

Break-even rent $1,049

Max offer price $115,000

Occupancy floor 83%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $115,000 Active 64 DOM
2. 2026-06-17
   days on market $115,000 Active 63 DOM
3. 2026-06-16
   days on market $115,000 Active 62 DOM
4. 2026-06-15
   days on market $115,000 Active 61 DOM
5. 2026-06-13
   days on market $115,000 Active 59 DOM
6. 2026-06-12
   days on market $115,000 Active 58 DOM
7. 2026-06-09
   days on market $115,000 Active 55 DOM
8. 2026-06-08
   days on market $115,000 Active 54 DOM
9. 2026-06-07
   days on market $115,000 Active 53 DOM
10. 2026-06-07
    pricedays on market $115,000 Active 52 DOM
11. 2026-06-04
    days on market $125,000 Active 49 DOM
12. 2026-06-02
    days on market $125,000 Active 48 DOM
13. 2026-06-01
    days on market $125,000 Active 47 DOM
14. 2026-05-31
    days on market $125,000 Active 46 DOM
15. 2026-05-31
    days on market $125,000 Active 45 DOM
16. 2026-04-15
    listed $125,000 Active
17. 2026-03-17
    price $125,000 791-char remark

    Show marketing remark (791 chars)

    Great investment opportunity in the heart of Monticello! This well-maintained duplex features two units, each offering 2 bedrooms and 1 bathroom with separate private entrances for added privacy and convenience. The upper and lower units provide comfortable living spaces and functional layouts that appeal to long-term tenants. This property currently generates steady rental income, making it a fantastic addition to any investment portfolio. Whether you're looking to expand your rental holdings or live in one unit while renting the other, this duplex offers flexibility and strong potential. Located in a convenient Monticello neighborhood with easy access to local amenities, shopping, and dining. Don't miss this opportunity to own an income-producing property in a growing community!

18. 2026-03-10
    listed $135,000 Active 791-char remark

    Show marketing remark (791 chars)

    Great investment opportunity in the heart of Monticello! This well-maintained duplex features two units, each offering 2 bedrooms and 1 bathroom with separate private entrances for added privacy and convenience. The upper and lower units provide comfortable living spaces and functional layouts that appeal to long-term tenants. This property currently generates steady rental income, making it a fantastic addition to any investment portfolio. Whether you're looking to expand your rental holdings or live in one unit while renting the other, this duplex offers flexibility and strong potential. Located in a convenient Monticello neighborhood with easy access to local amenities, shopping, and dining. Don't miss this opportunity to own an income-producing property in a growing community!

ⓘ 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: $2,131 · $178/mo
• Projected year-2 tax: $2,131 · $178/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,752
• − Mortgage interest: −$6,442
• − Property taxes: −$2,131
• − Insurance: −$575
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,345
• Taxable loss: −$102
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $1,735/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: Monticello Community School District
• NCES district ID: 1919650
• Math proficiency: 68% ▼ -3.00%
• Reading proficiency: 73% ▬ 0.00%
• Median HH income: $52,768
• Composite: 60.03/100
• National rank: #872
• State rank: #131 of 289 in IA

Livability — Monticello

• Score: 78/100
• State rank: #149
• US rank: #2739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, IA
• Population (ZIP): 6,384

Population outlook (Jones County) Hauer SSP2

• Today (2025): 20,023 people
• By 2030: 19,702 · -1.6%
• By 2040: 19,007 · -5.1%
• By 2050: 18,396 · -8.1%
• By 2075: 17,955 · -10.3%
• By 2100: 17,448 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Iranian 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 0% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Jones

• 2024 margin: Strong R (+26.3) · D 36.0% · R 62.3% · Other 1.7%
• 2008→2024 swing: -36.7pp toward R · 2008: 10.4pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+21.5 2016: R+19.4 2012: D+7.7 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.44%
• Current HPI: 196.1405
• 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

-7.4% since first listed

3 events — show timeline

• 2026-04-15 Listed $125,000 CRAAR, CDRMLS
• 2026-03-17 Price Changed $125,000 CRAAR, CDRMLS
• 2026-03-10 Listed $135,000 CRAAR, CDRMLS

Property tax history

+3.3%/yr

Latest (2025): $2,131 · +20.5% YoY. Source: county tax records.