440 8th St St · Marion, IA 52302

$189,900

3 bd · 2.5 ba · 1,440 sqft · SingleFamily public records · 3 Days on market

Built 1890 7,187 sqft lot Est $200k · 5% under

---

Why this score? — see what drove the D 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 +11.1/30.0
• ARV discount +9.8/15.0
• Schools +5.8/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

Key facts

• Formal dining room
• Fenced yard
• Original woodwork

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• FORMAL DINING ROOM
• FENCED YARD
• OVERSIZED DETACHED GARAGE
• SHORT WALK TO UPTOWN MARION

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-78 ($-937/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (18.3% below list).
• Recommended offer: $155k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,023 units permitted in Linn County in 2024 (456 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 $6k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,155 (18.3% 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 1890 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $200,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 8th St St	0.00mi	3/1.5	1,440 (0%)	0mo	$193,900	$135	96
924 10th St St	0.32mi	3/2.0	1,433 (-0%)	3mo	$199,100	$139	80
1405 5th Ave	0.39mi	3/2.0	1,455 (+1%)	2mo	$80,000	$55	77
393 9th Ave Ave	0.36mi	3/2.0	1,512 (+5%)	2mo	$215,500	$143	71
1080 7th St	0.43mi	3/—	1,587 (+10%)	2mo	$162,000	$102	62
1480 Henderson Dr	0.72mi	3/2.0	1,479 (+3%)	0mo	$192,000	$130	60
245 8th Ave	0.40mi	3/2.0	1,265 (-12%)	3mo	$184,900	$146	56
975 6th St	0.37mi	3/1.0	1,280 (-11%)	4mo	$189,000	$148	55
1436 9th St	0.59mi	4/2.0 (+1)	1,540 (+7%)	1mo	$201,700	$131	53
1055 17th St	0.63mi	3/2.0	1,318 (-8%)	5mo	$204,500	$155	50
180 21st St	0.61mi	4/1.5 (+1)	1,577 (+10%)	2mo	$217,000	$138	45
2095 3rd Ave	0.60mi	3/1.5	1,233 (-14%)	4mo	$172,500	$140	41

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: -13.8%
• Equity multiple: 0.48×
• Total profit: $-27,528
• Equity at exit: $28,315

10-year hold

• IRR: 1.5%
• Equity multiple: 1.13×
• Total profit: $7,018
• Equity at exit: $16,419

Cash invested: $53,172 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,552 high
• Mortgage (P&I): −$996
• Tax from tax record: −$229 /mo · $2,746/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-78

Break-even live

Break-even rent $1,650

Max offer price $176,105

Occupancy floor —

Sensitivity live

Price	-10% $29	-5% $-24	+0% $-78	+5% $-132	+10% $-186
Rent	-10% $-201	-5% $-139	+0% $-78	+5% $-17	+10% $44
Rate	-1.0pp $18	-0.5pp $-30	base $-78	+0.5pp $-127	+1.0pp $-177

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
345 Marion Blvd Marion, IA	2.0	1.0–2.0	680	$2,600	$3.82	14d	1	0.60mi
1330 Brockman Ave Marion, IA	4.0	2.0	1590	$2,400	$1.51	14d	1	0.85mi
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	44d	1	1.00mi
2899 5th Ave Unit 2 Marion, IA	2.0	1.0	900	$1,200	$1.33	14d	1	1.02mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	22d	1	1.15mi
400 Lindale Dr Marion, IA	3.0	2.0	942	$1,092	$1.16	14d	1	1.20mi

Listing history 13 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $189,900 Active
3. 2026-03-02
   price $157,000 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

4. 2022-07-27
   soldstatus $165,500
5. 2022-07-26
   soldstatus $165,500 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

6. 2022-07-26
   soldstatus $165,500 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

7. 2022-06-23
   price $165,500 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

8. 2022-06-21
   listed $157,000 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

9. 2022-06-21
   listed $157,000 703-char remark

   Show marketing remark (703 chars)

   This classic 2-story boasts all the charm and character! You will be welcomed by the large covered front porch. Inside, the beautiful woodworking, columns, and hardwood floors will be sure to impress. The living room flows into the formal dining room, both with original hardwood flooring. The kitchen offers plenty of storage with double stacked cabinets. A convenient half bath and 3 seasons room complete the main level. Upstairs, you will find more charm with 5 panel doors, three spacious bedrooms, and full bath. Fully-fenced in backyard with patio and 2 car, detached garage. New roof and windows in the three seasons room in 2021 for peace of mind. Don’t miss this lovingly cared for home!

10. 2021-07-22
    soldstatus $140,000
11. 2021-07-16
    soldstatus $139,900
12. 2021-06-17
    listed $139,900
13. 1998-03-31
    soldstatus $87,000

ⓘ 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: $2,746 · $229/mo
• Projected year-2 tax: $2,864 · $239/mo
• Expected delta: +$118/yr (+$10/mo · 4.3%)

ⓘ 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: $18,619
• − Mortgage interest: −$10,637
• − Property taxes: −$2,746
• − Insurance: −$950
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$5,524
• Taxable loss: −$4,218
• Est. tax savings @ 24.0%: +$1,012
• After-tax cash flow: $75/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

+118.3% since first listed

13 events — show timeline

• 2026-04-28 Pending — CRAAR, CDRMLS
• 2026-04-24 Listed $189,900 CRAAR, CDRMLS
• 2026-03-02 Price Changed $157,000 ICAARMLS
• 2022-07-27 Sold (Public Records) $165,500 Public Records
• 2022-07-26 Sold (MLS) $165,500 CRAAR, CDRMLS
• 2022-07-26 Sold (MLS) $165,500 ICAARMLS
• 2022-06-23 Price Changed $165,500 ICAARMLS
• 2022-06-21 Listed $157,000 CRAAR, CDRMLS
• 2022-06-21 Listed $157,000 ICAARMLS
• 2021-07-22 Sold (Public Records) $140,000 Public Records
• 2021-07-16 Sold (MLS) $139,900 CRAAR, CDRMLS
• 2021-06-17 Listed $139,900 CRAAR, CDRMLS
• 1998-03-31 Sold (Public Records) $87,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,746 · +2.9% YoY. Source: county tax records.