302 W South St · Macksburg, IA 50155

$64,900

3 bd · 3.0 ba · 1,216 sqft · Manufactured public records · 192 Days on market

Built 2009 0.56 ac lot $53/sqft · 41% below area Est $109k · 41% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

Key facts

• Covered deck
• Fenced yard
• Two decks

Tags

• OPEN CONCEPT LIVING ROOM
• SPLIT BEDROOM PLAN
• TWO DECKS
• COVERED DECK
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#909 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D, schools F, amenities F.
• Orient-Macksburg Community School District (rural): math 60% / reading 60% proficiency, ranked #282 of 330 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 125 units permitted in Madison County in 2024 (51 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Madison County population projected to shrink 7% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $22k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.76% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.87%
• DSCR: 2.28
• GRM: 4.7

CMA / ARV

• ARV (median comp): $109,295
• List price: $64,900
• Delta: -40.62%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.8%
• Equity multiple: 2.96×
• Total profit: $35,691
• Equity at exit: $29,182

10-year hold

• IRR: 35.0%
• Equity multiple: 5.85×
• Total profit: $88,079
• Equity at exit: $44,973

Cash invested: $18,172 (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 50155

• Active inventory: 4
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,141 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $437

Break-even live

Break-even rent $588

Max offer price $64,900

Occupancy floor 57%

Sensitivity live

Price	-10% $474	-5% $456	+0% $437	+5% $419	+10% $400
Rent	-10% $347	-5% $392	+0% $437	+5% $482	+10% $527
Rate	-1.0pp $470	-0.5pp $454	base $437	+0.5pp $420	+1.0pp $403

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-19
   days on market $64,900 Active 192 DOM
2. 2026-06-18
   days on market $64,900 Active 191 DOM
3. 2026-06-17
   price $64,900 Active 190 DOM
4. 2026-06-17
   days on market $69,900 Active 190 DOM
5. 2026-06-16
   days on market $69,900 Active 189 DOM
6. 2026-06-15
   days on market $69,900 Active 188 DOM
7. 2026-06-14
   days on market $69,900 Active 186 DOM
8. 2026-06-13
   days on market $69,900 Active 185 DOM
9. 2026-06-10
   days on market $69,900 Active 183 DOM
10. 2026-06-09
    days on market $69,900 Active 182 DOM
11. 2026-06-08
    days on market $69,900 Active 181 DOM
12. 2026-06-07
    days on market $69,900 Active 180 DOM
13. 2026-06-05
    days on market $69,900 Active 177 DOM
14. 2026-06-03
    days on market $69,900 Active 176 DOM
15. 2026-06-02
    days on market $69,900 Active 175 DOM
16. 2026-06-01
    days on market $69,900 Active 174 DOM
17. 2026-05-31
    days on market $69,900 Active 173 DOM
18. 2026-05-30
    days on market $69,900 Active 172 DOM
19. 2026-05-14
    price $69,900 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

20. 2026-04-13
    price $74,000 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

21. 2026-03-12
    price $78,000 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

22. 2026-02-09
    price $82,000 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

23. 2026-01-09
    price $84,900 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

24. 2025-12-09
    listed $87,000 Active 565-char remark

    Show marketing remark (565 chars)

    What an opportunity to own this nice sized home with 3 bedrooms, 2 bathrooms on over half an acre in a quaint rural town. The home has an open concept living room and kitchen area along with a split bedroom plan. The exterior features two decks. One of the decks is covered and overlooks the fenced yard. Property is being sold AS IS and seller is making no representations or warranties. This property has been placed in an auction event. Please submit all offers through propoffers.com or feel free to bid on the Realtybid website. Call for your personal showing!

25. 2025-03-18
    historical
26. 2025-03-04
    price $90,000
27. 2025-02-25
    price $85,000
28. 2025-01-21
    price $95,000
29. 2024-12-30
    price $100,000
30. 2024-12-18
    listed $110,000 Active
31. 2022-11-03
    soldstatus $74,000
32. 2022-11-02
    soldstatus $74,000 Closed
33. 2022-09-13
    status Pending
34. 2022-09-12
    historical
35. 2022-09-07
    status Pending
36. 2022-08-29
    price $73,500
37. 2022-08-15
    listed $78,500 Active
38. 2022-07-22
    historical
39. 2022-06-22
    price $79,900
40. 2022-05-20
    price $84,900
41. 2022-05-02
    price $90,000
42. 2022-03-23
    listed $95,000 Active
43. 2017-04-24
    soldstatus $11,000
44. 2016-10-17
    listed $20,000
45. 2016-09-03
    historical
46. 2015-09-03
    listed $20,000

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,162 · $97/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: $13,692
• − Mortgage interest: −$3,635
• − Property taxes: −$1,162
• − Insurance: −$324
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$1,888
• Taxable income: $4,492
• Est. tax owed @ 24.0%: −$1,078
• After-tax cash flow: $4,168/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: Orient-Macksburg Community School District
• NCES district ID: 1921810
• Math proficiency: 60% ▲ 5.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $49,140
• Composite: 52.6/100
• National rank: #3359
• State rank: #282 of 330 in IA

Livability — Macksburg

• Score: 57/100
• State rank: #909
• US rank: #21749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macksburg, IA
• City population: 111
• Population (ZIP): 111

Population outlook (Madison County) Hauer SSP2

• Today (2025): 15,715 people
• By 2030: 15,565 · -1.0%
• By 2040: 15,203 · -3.3%
• By 2050: 14,640 · -6.8%
• By 2075: 13,384 · -14.8%
• By 2100: 11,967 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 1% Portuguese 1% Serbian 1%
• Foreign-born: 1%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+38.6) · D 30.1% · R 68.7% · Other 1.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -10.0pp · 2024: -38.6pp
• All cycles: 2024: R+38.6 2020: R+34.3 2016: R+31.3 2012: R+12.1 2008: R+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+249.5% since first listed

28 events — show timeline

• 2026-05-14 Price Changed $69,900 DMMLS
• 2026-04-13 Price Changed $74,000 DMMLS
• 2026-03-12 Price Changed $78,000 DMMLS
• 2026-02-09 Price Changed $82,000 DMMLS
• 2026-01-09 Price Changed $84,900 DMMLS
• 2025-12-09 Listed $87,000 DMMLS
• 2025-03-18 Listing Removed — DMMLS
• 2025-03-04 Price Changed $90,000 DMMLS
• 2025-02-25 Price Changed $85,000 DMMLS
• 2025-01-21 Price Changed $95,000 DMMLS
• 2024-12-30 Price Changed $100,000 DMMLS
• 2024-12-18 Listed $110,000 DMMLS
• 2022-11-03 Sold (Public Records) $74,000 Public Records
• 2022-11-02 Sold (MLS) $74,000 DMMLS
• 2022-09-13 Pending — DMMLS
• 2022-09-12 Listing Removed — DMMLS
• 2022-09-07 Pending — DMMLS
• 2022-08-29 Price Changed $73,500 DMMLS
• 2022-08-15 Listed $78,500 DMMLS
• 2022-07-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-22 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-20 Price Changed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-02 Price Changed $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-23 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-24 Sold (MLS) $11,000 DMMLS
• 2016-10-17 Listed $20,000 DMMLS
• 2016-09-03 Listing Removed — DMMLS
• 2015-09-03 Listed $20,000 DMMLS

Property tax history

+34.9%/yr

Latest (2025): $1,162 · +36.7% YoY. Source: county tax records.