104 E North St · Albion, IA 50005

$89,900

2 bd · 1.0 ba · 2,208 sqft · SingleFamily public records

Built 1953 Est $139k · 35% under

---

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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.9/10.0
• Appreciation +5.5/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Easy to maintain home! Large living room with hardwood floors. 3 bedrooms, one was used as laundry area with hookups remaining. Full bath features shower plus whirlpool tub. New deck in 2025. New dishwasher 2025. New kitchen flooring in 2026. Eves and downspouts new in 2025. HVAC 12/2018. Water heater new 2026. Basement with waterproofing system including anchored walls, tiling, sump pumps. Cost was approximately $26,000 and has a transferable warranty. Sellers heated home with a corn stove and venting is still in place if someone wanted to hook up a new unit.

Key facts

• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 65/100 on livability (#582 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marshalltown Community School District (town): math 50% / reading 52% proficiency, ranked #278 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 8 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($622 loan paydown + $825 appreciation (0.9% local appreciation)).
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1953 — 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 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?
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: 1.19% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $139,104
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 S Main St	0.21mi	3/2.0 (+1)	1,877 (-15%)	4mo	$118,000	$63	52

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

Projected returns pro-forma

0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.70×
• Total profit: $17,688
• Equity at exit: $30,305

10-year hold

• IRR: 17.5%
• Equity multiple: 3.10×
• Total profit: $52,910
• Equity at exit: $39,977

Cash invested: $25,172 (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 50005

• Home prices YoY: 0.9%
• Active inventory: 8
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $257

Break-even live

Break-even rent $747

Max offer price $89,900

Occupancy floor 71%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   historical
2. 2026-05-19
   listed $89,900

ⓘ 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: $976 · $81/mo
• Projected year-2 tax: $1,194 · $99/mo
• Expected delta: +$218/yr (+$18/mo · 22.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,870
• − Mortgage interest: −$5,036
• − Property taxes: −$976
• − Insurance: −$450
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,615
• Taxable income: $1,734
• Est. tax owed @ 24.0%: −$416
• After-tax cash flow: $2,668/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: Marshalltown Community School District
• NCES district ID: 1918720
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $47,877
• Composite: 43.41/100
• National rank: #3015
• State rank: #278 of 289 in IA

Livability — Albion

• Score: 65/100
• State rank: #582
• US rank: #13234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, IA
• Population (ZIP): 830

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 41,166 people
• By 2030: 41,477 · +0.8%
• By 2040: 42,548 · +3.4%
• By 2050: 44,472 · +8.0%
• By 2075: 52,719 · +28.1%
• By 2100: 60,912 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 26% Hispanic / Latino 3% Native American 2% Two or more races 2%
• Common ancestry: Portuguese 6% Lithuanian 2% Iranian 1%
• Foreign-born: 23% · Vietnam, Canada
• Languages at home: 75% English-only · Vietnamese 24% Spanish 2%

Political lean MEDSL · Marshall

• 2024 margin: R (+15.6) · D 41.4% · R 57.0% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: 9.3pp · 2024: -15.6pp
• All cycles: 2024: R+15.6 2020: R+7.7 2016: R+8.5 2012: D+8.9 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.92%
• Current HPI: 106.3038
• 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

2 events — show timeline

• 2026-05-20 Delisted — IAR
• 2026-05-19 Listed $89,900 IAR

Property tax history

-2.1%/yr

Latest (2025): $976 · -11.3% YoY. Source: county tax records.