309 N Main St · Maquoketa, IA 52060

$119,000

6 bd · 3.5 ba · 2,932 sqft · MultiFamily public records · 8 Days on market

Built 1870 $41/sqft · 38% below area Est $193k · 38% 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).

• Cash flow +18.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.8/10.0
• DSCR +5.8/10.0
• Schools +4.6/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Historic brick home offers 5+ bedrooms, 1.5 baths, 2 car garage, updated kitchen, stained glass, pocket doors, open curved stairway, some new windows, 2 fireplaces, built-ins, hardwood floors, screened porch, deck, alley access, full basement. The possibilities are endless for this large, spacious home. Can be used as an investment property, duplex, or single family home. Home is being sold as-is. This home is listed on the National Register of Historic Places. Contact the city of Maquoketa for more information about possible grant funds for future renovations. Take a look today!

Key facts

• Open curved stairway
• Pocket doors
• Historic brick home

Tags

• HISTORIC BRICK HOME
• UPDATED KITCHEN
• STAINED GLASS
• POCKET DOORS
• OPEN CURVED STAIRWAY
• NEW WINDOWS

Property features AI

Exterior

• Parking: Detached garage; Two parking spaces; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Two levels
• Construction: Brick construction; Stone foundation
• Exterior features: Deck; Porch; Screened porch; Fenced yard; Shingle roof; Property has a view

Interior

• Kitchen: Dishwasher
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling system
• Interior features: Window treatments; Two fireplaces; Full basement
• Laundry & utility: Laundry on upper level; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 6-bed/3.5-bath multifamily listed at $119k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).

Location & tenants

• Location reads 70/100 on livability (#362 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Maquoketa Community School District (town): math 52% / reading 57% proficiency, ranked #270 of 289 in IA (top 93%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maquoketa Community High School (math 63% / reading 68%, grade B, #204 of 336 statewide, top 61%, 498 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 20 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y ago 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.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 7.7

CMA / ARV

• ARV (median comp): $193,396
• List price: $119,000
• Delta: -38.47%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-12,195
• Equity at exit: $17,743

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,294
• Equity at exit: $10,289

Cash invested: $33,320 (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 52060

• Home prices YoY: -21.2%
• Active inventory: 35
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$234 /mo · $2,804/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $110

Break-even live

Break-even rent $1,148

Max offer price $119,000

Occupancy floor 86%

Sensitivity live

Price	-10% $178	-5% $144	+0% $110	+5% $76	+10% $43
Rent	-10% $8	-5% $59	+0% $110	+5% $161	+10% $212
Rate	-1.0pp $170	-0.5pp $140	base $110	+0.5pp $79	+1.0pp $48

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-05
   status Pending 586-char remark
2. 2026-04-27
   listed $119,000 Active 586-char remark
3. 2022-10-06
   historical
4. 2022-10-05
   historical
5. 2007-04-16
   historical
6. 2007-03-19
   soldstatus $99,500
7. 2006-01-06
   soldstatus $93,500
8. 2006-01-06
   soldstatus $93,500
9. 2005-10-11
   listed $93,500
10. 2004-10-07
    historical

ⓘ 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: $2,804 · $234/mo
• Projected year-2 tax: $2,804 · $234/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 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,455
• − Mortgage interest: −$6,666
• − Property taxes: −$2,804
• − Insurance: −$595
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$3,462
• Taxable loss: −$544
• Est. tax savings @ 24.0%: +$131
• After-tax cash flow: $1,453/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: Maquoketa Community School District
• NCES district ID: 1918510
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,880
• Composite: 45.54/100
• National rank: #2602
• State rank: #270 of 289 in IA

Livability — Maquoketa

• Score: 70/100
• State rank: #362
• US rank: #7540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maquoketa, IA
• Population (ZIP): 8,139

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 18,736 people
• By 2030: 18,227 · -2.7%
• By 2040: 17,049 · -9.0%
• By 2050: 15,848 · -15.4%
• By 2075: 13,660 · -27.1%
• By 2100: 11,167 · -40.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Black 2%
• Common ancestry: Romanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -56.9pp toward R · 2008: 24.4pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+26.1 2016: R+19.4 2012: D+16.8 2008: D+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.28%
• Current HPI: 213.2315
• 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

+15.5% since first listed

11 events — show timeline

• 2026-06-18 Sold (MLS) $108,000 ECIMLS
• 2026-05-05 Pending — ECIMLS
• 2026-04-27 Listed $119,000 ECIMLS
• 2022-10-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-10-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2007-04-16 Listing Removed — MRED as Distributed by MLS Grid
• 2007-03-19 Sold (Public Records) $99,500 Public Records
• 2006-01-06 Sold (Public Records) $93,500 Public Records
• 2006-01-06 Sold (MLS) $93,500 RMLSA as Distributed by MLS Grid
• 2005-10-11 Listed $93,500 RMLSA as Distributed by MLS Grid
• 2004-10-07 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2025): $2,804 · +21.5% YoY. Source: county tax records.