210 Kohl Street St · Martelle, IA 52305

$160,000

3 bd · 1.0 ba · 1,334 sqft · MultiFamily public records · 13 Days on market

Built 1979 5,227 sqft lot

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Why this score? — see what drove the C+ 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Appreciation +6.9/10.0
• Schools +5.4/10.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Opportunity! This well-maintained side-by-side duplex offers great potential for both investors and owner-occupants. Each unit features a functional layout with comfortable living spaces and desirable amenities. The East unit features 2 bedrooms on the main level, a full bathroom, a kitchen with a shared dining area, and a spacious living room perfect for everyday living. Enjoy the added charm of a cozy three-season room, perfect for relaxing. The finished lower level provides additional living space with a rec room, a non-conforming bedroom, and a convenient laundry area. This unit also includes a one-stall detached garage. The West unit offers 2 main-level bedrooms, a full bathroom, and a kitchen with a shared dining area, along with a large living room. The lower level is partially finished, providing extra storage or potential for additional living space, plus a laundry area. Outside, you’ll find a nice-sized yard, making this property a great option for investors or owner-occupants looking for rental income.

Key facts

• Large lot
• Mature plantings
• 3-season room

Tags

• LARGE LOT
• MATURE PLANTINGS
• 3-SEASON ROOM
• FULL-SIZED FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive. Per door: $120/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

Location & tenants

• Location reads 65/100 on livability (#585 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D-, amenities F, commute F.
• Anamosa Community School District (town): math 62% / reading 65% proficiency, ranked #210 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 25 units permitted in Jones County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.8% local appreciation)).
• Jones County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $82k; list at $160k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $160,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.92×
• Total profit: $41,255
• Equity at exit: $79,026

10-year hold

• IRR: 16.6%
• Equity multiple: 3.62×
• Total profit: $117,401
• Equity at exit: $127,609

Cash invested: $44,800 (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 52305

• Home prices YoY: 2.4%
• Active inventory: 6
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$135 /mo · $1,618/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $241

Break-even live

Break-even rent $1,317

Max offer price $160,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$1,622
Total (2 units)			$1,622

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $160,000 Active 13 DOM
2. 2026-06-17
   days on market $160,000 Active 12 DOM
3. 2026-06-16
   days on market $160,000 Active 11 DOM
4. 2026-06-15
   days on market $160,000 Active 10 DOM
5. 2026-06-13
   days on market $160,000 Active 8 DOM
6. 2026-06-12
   days on market $160,000 Active 7 DOM
7. 2026-06-09
   days on market $160,000 Active 4 DOM
8. 2026-06-08
   days on market $160,000 Active 3 DOM
9. 2026-06-07
   days on market $160,000 Active 2 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    pricedays on marketlisting id $160,000 Active 1 DOM
12. 2026-06-04
    days on market $175,000 Active 84 DOM
13. 2026-06-02
    days on market $175,000 Active 83 DOM
14. 2026-06-01
    days on market $175,000 Active 82 DOM
15. 2026-05-31
    days on market $175,000 Active 81 DOM
16. 2026-05-31
    days on market $175,000 Active 80 DOM
17. 2026-04-15
    price $175,000 1045-char remark

    Show marketing remark (1045 chars)

    Investment Opportunity! This well-maintained side-by-side duplex offers great potential for both investors and owner-occupants. Each unit features a functional layout with comfortable living spaces and desirable amenities. The East unit features 2 bedrooms on the main level, a full bathroom, a kitchen with a shared dining area, and a spacious living room perfect for everyday living. Enjoy the added charm of a cozy three-season room, perfect for relaxing. The finished lower level provides additional living space with a rec room, a non-conforming bedroom, and a convenient laundry area. This unit also includes a one-stall detached garage. The West unit offers 2 main-level bedrooms, a full bathroom, and a kitchen with a shared dining area, along with a large living room. The lower level is partially finished, providing extra storage or potential for additional living space, plus a laundry area. Outside, you’ll find a nice-sized yard, making this property a great option for investors or owner-occupants looking for rental income.

18. 2026-03-11
    listed $180,000 Active 1045-char remark

    Show marketing remark (1045 chars)

    Investment Opportunity! This well-maintained side-by-side duplex offers great potential for both investors and owner-occupants. Each unit features a functional layout with comfortable living spaces and desirable amenities. The East unit features 2 bedrooms on the main level, a full bathroom, a kitchen with a shared dining area, and a spacious living room perfect for everyday living. Enjoy the added charm of a cozy three-season room, perfect for relaxing. The finished lower level provides additional living space with a rec room, a non-conforming bedroom, and a convenient laundry area. This unit also includes a one-stall detached garage. The West unit offers 2 main-level bedrooms, a full bathroom, and a kitchen with a shared dining area, along with a large living room. The lower level is partially finished, providing extra storage or potential for additional living space, plus a laundry area. Outside, you’ll find a nice-sized yard, making this property a great option for investors or owner-occupants looking for rental income.

19. 2008-08-01
    soldstatus $82,000

ⓘ 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: $1,618 · $135/mo
• Projected year-2 tax: $2,065 · $172/mo
• Expected delta: +$447/yr (+$37/mo · 27.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $19,464
• − Mortgage interest: −$8,962
• − Property taxes: −$1,618
• − Insurance: −$800
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$4,655
• Taxable income: $315
• Est. tax owed @ 24.0%: −$76
• After-tax cash flow: $2,814/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: Anamosa Community School District
• NCES district ID: 1903570
• Math proficiency: 62% ▼ -5.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $51,672
• Composite: 54.14/100
• National rank: #1383
• State rank: #210 of 289 in IA

Livability — Martelle

• Score: 65/100
• State rank: #585
• US rank: #13285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martelle, IA
• Population (ZIP): 853

Population outlook (Jones County) Hauer SSP2

• Today (2025): 20,023 people
• By 2030: 19,702 · -1.6%
• By 2040: 19,007 · -5.1%
• By 2050: 18,396 · -8.1%
• By 2075: 17,955 · -10.3%
• By 2100: 17,448 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 8%
• Common ancestry: Lithuanian 5% Hispanic 4% Serbian 4%
• Foreign-born: 0%

Political lean MEDSL · Jones

• 2024 margin: Strong R (+26.3) · D 36.0% · R 62.3% · Other 1.7%
• 2008→2024 swing: -36.7pp toward R · 2008: 10.4pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+21.5 2016: R+19.4 2012: D+7.7 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.77%
• Current HPI: 163.266
• 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

+113.4% since first listed

3 events — show timeline

• 2026-04-15 Price Changed $175,000 CRAAR, CDRMLS
• 2026-03-11 Listed $180,000 CRAAR, CDRMLS
• 2008-08-01 Sold (Public Records) $82,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,618 · +5.3% YoY. Source: county tax records.