347 W Main St · Marengo, IA 52301

$45,000

1 bd · 1.0 ba · 800 sqft · SingleFamily public records · 27 Days on market

Built 1870 9,583 sqft lot Est $72k · 38% 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 +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

This home is waiting for some TLC! The main level features a living with beams across the ceiling, kitchen, two decent sized bedrooms, a full bathroom, and a porch area with laundry. The basement is accessible from the outside and includes the furnace and electrical panel. There is a one car detached garage and a decent sized yard. This estate property is being sold strictly as-is, with the seller making no repairs. All personal property located on the premises will remain (appliances and mechanicals not warranted), and any offer language requesting item removal must be crossed out (CRAAR lines 195–199). This will NOT qualify for conventional financing- cash offers (include proof of f

Key facts

• 9,583 sq ft lot
• Garage
• Built 1870

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame and stone construction; About 800 above-grade finished square feet
• Exterior features: Public water; Public sewer; Lot about 0.22 acres (9,583 sq ft)

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Has basement (partial); Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $45k).
• Recommended offer: $44k (1.5% 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.
• Zoned schools: Iowa Valley Elementary School (math 72% / reading 72%, grade A-, #181 of 616 statewide, top 34%, 318 students, 41% FRL); Iowa Valley Jr-Sr High School (math 69% / reading 79%, grade B+, #103 of 336 statewide, top 32%, 229 students, 36% FRL).
• 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 $311 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 $13k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.56% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.56%
• DSCR: 1.96
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $72,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 Howard Ave	0.26mi	1/1.0	756 (-6%)	6mo	$9,000	$12	74
847 Lincoln Ave	0.29mi	1/1.0	720 (-10%)	10mo	$65,000	$90	62
235 W Adams St	0.40mi	2/2.0 (+1)	742 (-7%)	13mo	$99,900	$135	49
528 E Washington St	0.50mi	2/1.0 (+1)	912 (+14%)	12mo	$110,000	$121	39
536 E Adams St	0.62mi	2/1.0 (+1)	896 (+12%)	21mo	$30,000	$33	28

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: 14.2%
• Equity multiple: 1.57×
• Total profit: $7,150
• Equity at exit: $6,710

10-year hold

• IRR: 23.0%
• Equity multiple: 2.97×
• Total profit: $24,878
• Equity at exit: $3,891

Cash invested: $12,600 (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: 5.4×

Monthly cashflow live

• Estimated rent: $700 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$72 /mo · $862/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $226

Break-even live

Break-even rent $413

Max offer price $45,000

Occupancy floor 63%

Sensitivity live

Price	-10% $252	-5% $239	+0% $226	+5% $214	+10% $201
Rent	-10% $171	-5% $199	+0% $226	+5% $254	+10% $282
Rate	-1.0pp $249	-0.5pp $238	base $226	+0.5pp $215	+1.0pp $203

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: $11,250
• Closing costs: $1,350
• 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	14d	1	0.13mi

Listing history 16 events

1. 2026-06-17
   status $45,000 Pending 27 DOM
2. 2026-06-16
   days on market $45,000 Active 27 DOM
3. 2026-06-15
   days on market $45,000 Active 26 DOM
4. 2026-06-13
   days on market $45,000 Active 24 DOM
5. 2026-06-12
   days on market $45,000 Active 23 DOM
6. 2026-06-09
   days on market $45,000 Active 20 DOM
7. 2026-06-08
   days on market $45,000 Active 19 DOM
8. 2026-06-07
   days on market $45,000 Active 18 DOM
9. 2026-06-05
   days on market $45,000 Active 16 DOM
10. 2026-06-04
    days on market $45,000 Active 14 DOM
11. 2026-06-02
    days on market $45,000 Active 13 DOM
12. 2026-06-01
    price $45,000 Active 12 DOM
13. 2026-06-01
    days on market $50,000 Active 12 DOM
14. 2026-05-31
    days on market $50,000 Active 11 DOM
15. 2026-05-31
    days on market $50,000 Active 10 DOM
16. 2026-05-20
    listed $50,000 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: $862 · $72/mo
• Projected year-2 tax: $862 · $72/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 4/10 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: −$2,521
• − Property taxes: −$862
• − Insurance: −$225
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$1,309
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $2,204/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

1 event — show timeline

• 2026-05-20 Listed $50,000 CRAAR, CDRMLS

Property tax history

+5.5%/yr

Latest (2025): $862 · +6.7% YoY. Source: county tax records.