322 E 8th St · Logan, IA 51546

$139,000

2 bd · 1.0 ba · 1,384 sqft · SingleFamily public records · 25 Days on market

Built 1958 5,700 sqft lot Est $184k · 24% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Schools +6.5/10.0
• Livability +4.1/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming, affordable and full of potential! Welcome home to this well-maintained 2 bedroom property offering small-town living close to downtown amenities. Inside, you'll find a functional, simple layout, and natural lighting. The lower level provides excellent flexibility with space that could be used for an in-home salon, office, hobby room, workout area, or additional living space. Great opportunity for a first home, investment property, or anyone looking to enjoy Logan, Iowa!

Key facts

• Natural lighting
• Hobby room
• Workout area

Tags

• NATURAL LIGHTING
• IN-HOME SALON
• HOBBY ROOM
• WORKOUT AREA
• ADDITIONAL LIVING SPACE

Property features AI

Exterior

• Parking: Garage (1 car)
• Security: Smoke detector(s)
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single family residence; One story
• Construction: Frame construction; Composition roof
• Exterior features: Corner lot; No additional exterior features listed

Interior

• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Other interior features; Full, partially finished basement; Basement laundry
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-44 ($-525/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (20.1% below list).
• Recommended offer: $111k (20.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#52 in IA, #1,259 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Logan-Magnolia Community School District (rural): math 71% / reading 81% proficiency, ranked #51 of 289 in IA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Logan-Magnolia Elementary School (math 67% / reading 77%, grade A-, #181 of 616 statewide, top 34%, 418 students, 33% FRL); Logan-Magnolia Jr-Sr High School (math 76% / reading 83%, grade A-, #34 of 336 statewide, top 14%, 307 students, 27% FRL).
• Market conditions: 24 active listings in the ZIP; 41 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Harrison County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,091 (20.1% 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 1958 — 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: 0.80% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.35%
• DSCR: 0.94
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $184,072
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 E 10th St	0.21mi	3/1.0 (+1)	1,364 (-1%)	2mo	$185,000	$136	81
321 S 1st Ave	0.21mi	3/1.0 (+1)	1,406 (+2%)	9mo	$150,000	$107	75
115 S 4th Ave Ave	0.05mi	2/2.0	1,305 (-6%)	11mo	$170,000	$130	75
210 N Maple Ave	0.31mi	2/2.0	1,396 (+1%)	10mo	$189,000	$135	72
215 N 3rd Ave	0.21mi	3/1.0 (+1)	1,314 (-5%)	18mo	$199,950	$152	62
117 N Elm Ave	0.38mi	3/1.0 (+1)	1,333 (-4%)	16mo	$50,000	$38	58
222 W 4th St	0.45mi	3/1.0 (+1)	1,314 (-5%)	12mo	$147,000	$112	56
1018 Skyline Dr	0.61mi	3/2.0 (+1)	1,456 (+5%)	9mo	$315,015	$216	46
512 N 4th Ave	0.41mi	3/2.0 (+1)	1,590 (+15%)	21mo	$211,500	$133	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-25,316
• Equity at exit: $20,725

10-year hold

• IRR: -10.9%
• Equity multiple: 0.34×
• Total profit: $-25,661
• Equity at exit: $12,018

Cash invested: $38,920 (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 51546

• Home prices YoY: -9.2%
• Active inventory: 24
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,111 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$134 /mo · $1,614/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-44

Break-even live

Break-even rent $1,166

Max offer price $131,275

Occupancy floor 99%

Sensitivity live

Price	-10% $35	-5% $-4	+0% $-44	+5% $-83	+10% $-122
Rent	-10% $-131	-5% $-88	+0% $-44	+5% $0	+10% $44
Rate	-1.0pp $26	-0.5pp $-8	base $-44	+0.5pp $-80	+1.0pp $-116

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $139,000 Active 25 DOM
2. 2026-06-18
   days on market $139,000 Active 23 DOM
3. 2026-06-17
   days on market $139,000 Active 22 DOM
4. 2026-06-16
   days on market $139,000 Active 21 DOM
5. 2026-06-15
   days on market $139,000 Active 20 DOM
6. 2026-06-13
   days on market $139,000 Active 18 DOM
7. 2026-06-12
   days on market $139,000 Active 17 DOM
8. 2026-06-09
   days on market $139,000 Active 14 DOM
9. 2026-06-08
   days on market $139,000 Active 13 DOM
10. 2026-06-07
    days on market $139,000 Active 12 DOM
11. 2026-06-05
    pricedays on market $139,000 Active 10 DOM
12. 2026-06-04
    days on market $149,000 Active 8 DOM
13. 2026-06-02
    days on market $149,000 Active 7 DOM
14. 2026-06-01
    days on market $149,000 Active 6 DOM
15. 2026-05-31
    days on market $149,000 Active 5 DOM
16. 2026-05-31
    days on market $149,000 Active 4 DOM
17. 2026-05-26
    listed $149,000 Active

ⓘ 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: $1,614 · $134/mo
• Projected year-2 tax: $1,898 · $158/mo
• Expected delta: +$284/yr (+$24/mo · 17.6%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,331
• − Mortgage interest: −$7,786
• − Property taxes: −$1,614
• − Insurance: −$695
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$4,044
• Taxable loss: −$2,941
• Est. tax savings @ 24.0%: +$706
• After-tax cash flow: $181/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: Logan-Magnolia Community School District
• NCES district ID: 1917460
• Math proficiency: 71% ▼ -11.00%
• Reading proficiency: 81% ▬ 0.00%
• Median HH income: $60,050
• Composite: 65.27/100
• National rank: #490
• State rank: #51 of 289 in IA

Livability — Logan

• Score: 82/100
• State rank: #52
• US rank: #1259

Category grades

Amenities F 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: Logan, IA
• Population (ZIP): 3,113

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 13,193 people
• By 2030: 12,519 · -5.1%
• By 2040: 11,134 · -15.6%
• By 2050: 9,749 · -26.1%
• By 2075: 7,254 · -45.0%
• By 2100: 5,298 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 1%
• Common ancestry: Portuguese 2% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -37.2pp toward R · 2008: -4.7pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.4 2016: R+37.5 2012: R+12.7 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.74%
• Current HPI: 203.4199
• 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

1 event — show timeline

• 2026-05-26 Listed $149,000 SWIAR

Property tax history

+2.2%/yr

Latest (2025): $1,614 · -3.1% YoY. Source: county tax records.