658 Marengo Ave · Marengo, IA 52301

$49,500

2 bd · 1.0 ba · 902 sqft · SingleFamily public records · 154 Days on market

Built 1925 10,019 sqft lot $55/sqft · 51% below area ↓ 11% since listing

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Why this score? — see what drove the B 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Livability +3.5/5.0
• Appreciation +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Property is being sold AS IS

Key facts

• 0.23 acre lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#390 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Iowa Valley Community School District (rural): math 70% / reading 77% proficiency, ranked #94 of 289 in IA (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 38 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 12 units permitted in Iowa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Iowa County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $38k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $50k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.91%
• DSCR: 1.53
• GRM: 5.9

CMA / ARV

• ARV (median comp): $101,014
• List price: $49,500
• Delta: -51.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 E Washington St	0.35mi	2/1.0	912 (+1%)	12mo	$110,000	$121	72
536 E Adams St	0.22mi	2/1.0	896 (-1%)	21mo	$30,000	$33	71
235 W Randolph St	0.19mi	2/1.0	1,008 (+12%)	5mo	$93,000	$92	67
699 Clinton Ave	0.05mi	2/1.0	1,018 (+13%)	13mo	$41,000	$40	65
888 Howard Ave	0.38mi	3/1.0 (+1)	1,012 (+12%)	18mo	$89,900	$89	42

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $795
• Equity at exit: $7,381

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $12,198
• Equity at exit: $4,280

Cash invested: $13,860 (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 52301

• Home prices YoY: -1.7%
• Active inventory: 38
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $700 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $138

Break-even live

Break-even rent $526

Max offer price $49,500

Occupancy floor 75%

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 W Washington St Unit C Marengo, IA	1.0	1.0	800	$700	$0.88	13d	1	0.31mi

Listing history 21 events

1. 2026-06-17
   status $49,500 Pending 154 DOM
2. 2026-06-16
   days on market $49,500 Active 154 DOM
3. 2026-06-15
   days on market $49,500 Active 153 DOM
4. 2026-06-13
   days on market $49,500 Active 151 DOM
5. 2026-06-12
   days on market $49,500 Active 150 DOM
6. 2026-06-09
   days on market $49,500 Active 147 DOM
7. 2026-06-08
   days on market $49,500 Active 146 DOM
8. 2026-06-07
   days on market $49,500 Active 145 DOM
9. 2026-06-05
   days on market $49,500 Active 143 DOM
10. 2026-06-04
    days on market $49,500 Active 141 DOM
11. 2026-06-02
    days on market $49,500 Active 140 DOM
12. 2026-06-01
    days on market $49,500 Active 139 DOM
13. 2026-05-31
    days on market $49,500 Active 138 DOM
14. 2026-05-31
    days on market $49,500 Active 137 DOM
15. 2026-03-09
    price $49,500 28-char remark

    Show marketing remark (28 chars)

    Property is being sold AS IS

16. 2026-02-03
    price $54,900 28-char remark

    Show marketing remark (28 chars)

    Property is being sold AS IS

17. 2026-01-15
    price $67,000 28-char remark

    Show marketing remark (28 chars)

    Property is being sold AS IS

18. 2026-01-13
    listed $87,000 Active 28-char remark

    Show marketing remark (28 chars)

    Property is being sold AS IS

19. 2022-05-13
    soldstatus $28,400 522-char remark

    Show marketing remark (522 chars)

    * PROPERTY UNDER CONTRACT_Waiting on HUD paperwork before removing from MLS. Looking for a project this spring? This home needs your touch! There are 2 bedrooms and 1 full bath upstairs, formal dining and a nice sized kitchen to design it the way you want! Full basement with a brick foundation that houses mechanicals and laundry. Fenced yard with mature trees and a 1 car garage. This property is sold as-is condition and is an exclusive listing. For more information please visit WWW. HUDHOMESTORE. COM Case# 161-221062

20. 2022-03-04
    listed $30,000 522-char remark

    Show marketing remark (522 chars)

    * PROPERTY UNDER CONTRACT_Waiting on HUD paperwork before removing from MLS. Looking for a project this spring? This home needs your touch! There are 2 bedrooms and 1 full bath upstairs, formal dining and a nice sized kitchen to design it the way you want! Full basement with a brick foundation that houses mechanicals and laundry. Fenced yard with mature trees and a 1 car garage. This property is sold as-is condition and is an exclusive listing. For more information please visit WWW. HUDHOMESTORE. COM Case# 161-221062

21. 2006-08-01
    soldstatus $55,500

ⓘ 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: $1,623 · $135/mo
• Projected year-2 tax: $1,623 · $135/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $8,400
• − Mortgage interest: −$2,773
• − Property taxes: −$1,623
• − Insurance: −$248
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$1,440
• Taxable income: $973
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $1,417/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: Iowa Valley Community School District
• NCES district ID: 1914850
• Math proficiency: 70% ▼ -12.00%
• Reading proficiency: 77% ▼ -2.00%
• Median HH income: $47,781
• Composite: 62.03/100
• National rank: #719
• State rank: #94 of 289 in IA

Livability — Marengo

• Score: 69/100
• State rank: #390
• US rank: #8272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marengo, IA
• Population (ZIP): 4,046

Population outlook (Iowa County) Hauer SSP2

• Today (2025): 16,503 people
• By 2030: 16,422 · -0.5%
• By 2040: 16,081 · -2.6%
• By 2050: 15,428 · -6.5%
• By 2075: 14,067 · -14.8%
• By 2100: 11,638 · -29.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 4% Serbian 2% Portuguese 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iowa

• 2024 margin: Strong R (+27.8) · D 35.4% · R 63.1% · Other 1.6%
• 2008→2024 swing: -27.9pp toward R · 2008: 0.2pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+25.3 2016: R+24.2 2012: R+4.9 2008: D+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.18%
• Current HPI: 246.6426
• 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

-10.8% since first listed

7 events — show timeline

• 2026-03-09 Price Changed $49,500 CRAAR, CDRMLS
• 2026-02-03 Price Changed $54,900 CRAAR, CDRMLS
• 2026-01-15 Price Changed $67,000 CRAAR, CDRMLS
• 2026-01-13 Listed $87,000 CRAAR, CDRMLS
• 2022-05-13 Sold (MLS) $28,400 CRAAR, CDRMLS
• 2022-03-04 Listed $30,000 CRAAR, CDRMLS
• 2006-08-01 Sold (Public Records) $55,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,623 · +16.7% YoY. Source: county tax records.