310 Mcclellan St · Murray, IA 50174

$59,950

2 bd · 1.0 ba · 865 sqft · SingleFamily public records · 243 Days on market

Built 1940 $69/sqft · 8% below area Est $65k · 8% under

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Why this score? — see what drove the A- 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
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +6.4/10.0
• Appreciation +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVESTORS DREAM. 2 BEDROOM & 1 BATH. SOLD AS IS. NEW CARPET, NEW PAINT, NEW CIELING FANS. OWNERS STARTED REMODELING BUT DIDN'T FINISH. ALL INFORMATION FROM SELLERS & /OR ASSESSOR SITE. Water & electric are off and will not be turned on. Contract purchase for qualified buyers via Contract Exchange Corp. https://contractexchange.net/

Key facts

• Garage
• Built 1940
• Listed 243 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($854 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#565 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: employment D, amenities F, commute F.
• Murray Community School District (rural): math 75% / reading 75% proficiency, ranked #117 of 330 in IA (top 36%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 10 active listings in the ZIP; 125 units permitted in Clarke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (2.3% local appreciation)).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.
• Current owner paid $12k; list at $60k implies a 410% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,756 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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: 1.43% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 5.8

CMA / ARV

• ARV (median comp): $64,837
• List price: $59,950
• Delta: -7.54%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
527 6th St	0.33mi	2/1.0	832 (-4%)	10mo	$55,000	$66	70
126 Grant St	0.18mi	2/1.0	910 (+5%)	24mo	$125,000	$137	63
429 Sherman St	0.35mi	2/1.0	963 (+11%)	6mo	$40,000	$42	60
604 7th St	0.38mi	3/1.0 (+1)	924 (+7%)	21mo	$90,000	$97	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 2.16×
• Total profit: $19,425
• Equity at exit: $24,536

10-year hold

• IRR: 22.9%
• Equity multiple: 4.09×
• Total profit: $51,880
• Equity at exit: $36,028

Cash invested: $16,786 (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 50174

• Home prices YoY: 1.3%
• Active inventory: 10
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$109 /mo · $1,305/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $227

Break-even live

Break-even rent $567

Max offer price $59,950

Occupancy floor 68%

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: $14,988
• Closing costs: $1,798
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $59,950 Active 243 DOM
2. 2026-06-17
   days on market $59,950 Active 242 DOM
3. 2026-06-16
   days on market $59,950 Active 241 DOM
4. 2026-06-15
   days on market $59,950 Active 240 DOM
5. 2026-06-14
   days on market $59,950 Active 238 DOM
6. 2026-06-13
   days on market $59,950 Active 237 DOM
7. 2026-06-10
   days on market $59,950 Active 235 DOM
8. 2026-06-09
   days on market $59,950 Active 234 DOM
9. 2026-06-08
   days on market $59,950 Active 233 DOM
10. 2026-06-07
    days on market $59,950 Active 232 DOM
11. 2026-06-05
    days on market $59,950 Active 229 DOM
12. 2026-06-03
    days on market $59,950 Active 228 DOM
13. 2026-06-02
    days on market $59,950 Active 227 DOM
14. 2026-06-01
    days on market $59,950 Active 226 DOM
15. 2026-05-31
    days on market $59,950 Active 225 DOM
16. 2026-05-31
    days on market $59,950 Active 224 DOM
17. 2026-02-09
    status Active 350-char remark

    Show marketing remark (350 chars)

    INVESTORS DREAM. 2 BEDROOM & 1 BATH. SOLD AS IS. NEW CARPET, NEW PAINT, NEW CIELING FANS. OWNERS STARTED REMODELING BUT DIDN'T FINISH. ALL INFORMATION FROM SELLERS & /OR ASSESSOR SITE. Water & electric are off and will not be turned on. Contract purchase for qualified buyers via Contract Exchange Corp. https://contractexchange.net/

18. 2025-12-08
    status Pending 350-char remark

    Show marketing remark (350 chars)

    INVESTORS DREAM. 2 BEDROOM & 1 BATH. SOLD AS IS. NEW CARPET, NEW PAINT, NEW CIELING FANS. OWNERS STARTED REMODELING BUT DIDN'T FINISH. ALL INFORMATION FROM SELLERS & /OR ASSESSOR SITE. Water & electric are off and will not be turned on. Contract purchase for qualified buyers via Contract Exchange Corp. https://contractexchange.net/

19. 2025-08-17
    listed $59,950 Active 350-char remark

    Show marketing remark (350 chars)

    INVESTORS DREAM. 2 BEDROOM & 1 BATH. SOLD AS IS. NEW CARPET, NEW PAINT, NEW CIELING FANS. OWNERS STARTED REMODELING BUT DIDN'T FINISH. ALL INFORMATION FROM SELLERS & /OR ASSESSOR SITE. Water & electric are off and will not be turned on. Contract purchase for qualified buyers via Contract Exchange Corp. https://contractexchange.net/

20. 2025-05-20
    historical
21. 2025-01-08
    price $59,950
22. 2024-06-13
    price $69,950
23. 2024-05-25
    price $80,000
24. 2024-05-20
    listed $90,000 Active
25. 2024-05-16
    historical
26. 2024-04-26
    listed $90,000 Active
27. 2017-01-09
    soldstatus $11,750
28. 2015-07-22
    historical
29. 2015-03-18
    listed $52,500

ⓘ 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: $1,305 · $109/mo
• Projected year-2 tax: $1,305 · $109/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 2/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,252
• − Mortgage interest: −$3,358
• − Property taxes: −$1,305
• − Insurance: −$300
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$1,744
• Taxable income: $1,905
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $2,264/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: Murray Community School District
• NCES district ID: 1920100
• Math proficiency: 75% ▼ -5.00%
• Reading proficiency: 75% ▬ 0.00%
• Median HH income: $43,028
• Composite: 63.84/100
• National rank: #1214
• State rank: #117 of 330 in IA

Livability — Murray

• Score: 65/100
• State rank: #565
• US rank: #12783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murray, IA
• Population (ZIP): 1,312

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 9,307 people
• By 2030: 9,294 · -0.1%
• By 2040: 9,259 · -0.5%
• By 2050: 9,345 · +0.4%
• By 2075: 10,219 · +9.8%
• By 2100: 11,526 · +23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Iranian 7% Portuguese 1% Subsaharan African 1%
• Foreign-born: 3% · Canada
• Languages at home: 84% English-only · German/W. Germanic 12% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid R (+42.0) · D 28.4% · R 70.4% · Other 1.2%
• 2008→2024 swing: -44.3pp toward R · 2008: 2.2pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+35.9 2016: R+28.2 2012: D+1.4 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.27%
• Current HPI: 178.2786
• 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

+14.2% since first listed

13 events — show timeline

• 2026-02-09 Relisted — DMMLS
• 2025-12-08 Pending — DMMLS
• 2025-08-17 Listed $59,950 DMMLS
• 2025-05-20 Listing Removed — DMMLS
• 2025-01-08 Price Changed $59,950 DMMLS
• 2024-06-13 Price Changed $69,950 DMMLS
• 2024-05-25 Price Changed $80,000 DMMLS
• 2024-05-20 Listed $90,000 DMMLS
• 2024-05-16 Listing Removed — DMMLS
• 2024-04-26 Listed $90,000 DMMLS
• 2017-01-09 Sold (Public Records) $11,750 Public Records
• 2015-07-22 Listing Removed — DMMLS
• 2015-03-18 Listed $52,500 DMMLS

Property tax history

+3.7%/yr

Latest (2025): $1,305 · +11.9% YoY. Source: county tax records.