108 3rd St SE · Melcher-Dallas, IA 50163

$145,000

3 bd · 2.0 ba · 1,404 sqft · SingleFamily public records · 18 Days on market

Built 2005 0.33 ac lot Est $170k · 15% under

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Why this score? — see what drove the D+ 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).

• ARV discount +14.1/15.0
• Cash flow +8.5/30.0
• Appreciation +8.5/10.0
• Schools +4.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks MLS

Small town living at a great price! This 3BR manufactured home gives you a spacious floorplan with vaulted living spaces. Huge kitchen with pantry and breakfast bar. Living room is bright and cheery with picture window. Master suite has walk in closet and full bath with separate tub and shower. 2 additional bedrooms served by a full hall bath. Large, level yard with close access to baseball fields and walking distance to Melcher's quaint downtown. Low maintenance, move in ready condition!

Key facts

• Open floor plan
• Private bath
• Newer deck

Tags

• OPEN FLOOR PLAN
• PRIVATE BATH
• JACUZZI TUB
• NEWER DECK
• LARGE LOT
• QUIET NEIGHBORHOOD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Resale property; Zoned residential
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Smoke detectors

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Accessible approach with ramp; Dining area
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (24.2% below list).
• Recommended offer: $110k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Melcher-Dallas Community School District (rural): math 51% / reading 63% proficiency, ranked #259 of 289 in IA (top 90%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Melcher-Dallas Elem (math 52% / reading 57%, grade C, #462 of 616 statewide, top 79%, 177 students, 31% FRL); Melcher-Dallas High School (math 52% / reading 67%, grade C+, #263 of 336 statewide, top 81%, 153 students, 34% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (7.1% local appreciation)).
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $109,981 (24.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $169,884
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 SW 1st St	0.41mi	3/1.5	1,374 (-2%)	1mo	$161,000	$117	74
712 Jackson St	0.53mi	3/2.0	1,296 (-8%)	1mo	$86,900	$67	61
111 1st St NW	0.30mi	4/2.0 (+1)	1,494 (+6%)	12mo	$225,000	$151	61
516 SE 1st St	0.46mi	3/2.0	1,304 (-7%)	12mo	$167,000	$128	57
206 NE 2nd St	0.37mi	4/1.0 (+1)	1,387 (-1%)	19mo	$175,000	$126	56
203 SE D St	0.48mi	3/2.0	1,504 (+7%)	13mo	$150,000	$100	55
104 W Spring Rd	0.65mi	4/1.0 (+1)	1,457 (+4%)	3mo	$177,000	$121	51
102 Church St	0.63mi	3/1.0	1,377 (-2%)	19mo	$55,000	$40	48
801 Walnut St	0.62mi	3/1.0	1,264 (-10%)	6mo	$164,900	$130	46
604 Garfield St	0.44mi	4/2.0 (+1)	1,272 (-9%)	18mo	$210,000	$165	44
301 Church St	0.61mi	2/1.0 (-1)	1,379 (-2%)	20mo	$162,000	$117	43
107 SW 2nd St	0.38mi	4/1.0 (+1)	1,600 (+14%)	17mo	$75,000	$47	36

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

Projected returns pro-forma

7.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 2.06×
• Total profit: $43,103
• Equity at exit: $101,126

10-year hold

• IRR: 14.9%
• Equity multiple: 4.24×
• Total profit: $131,350
• Equity at exit: $192,681

Cash invested: $40,600 (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 50163

• Home prices YoY: 4.3%
• Active inventory: 6
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$176 /mo · $2,112/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-128

Break-even live

Break-even rent $1,262

Max offer price $122,395

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-87	+0% $-128	+5% $-169	+10% $-210
Rent	-10% $-215	-5% $-171	+0% $-128	+5% $-85	+10% $-41
Rate	-1.0pp $-55	-0.5pp $-91	base $-128	+0.5pp $-166	+1.0pp $-204

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-22
   days on market $145,000 Active 18 DOM
2. 2026-06-21
   days on market $145,000 Active 17 DOM
3. 2026-06-19
   days on market $145,000 Active 15 DOM
4. 2026-06-18
   days on market $145,000 Active 14 DOM
5. 2026-06-17
   days on market $145,000 Active 13 DOM
6. 2026-06-16
   days on market $145,000 Active 12 DOM
7. 2026-06-15
   days on market $145,000 Active 11 DOM
8. 2026-06-14
   days on market $145,000 Active 9 DOM
9. 2026-06-12
   days on market $145,000 Active 8 DOM
10. 2026-06-09
    days on market $145,000 Active 5 DOM
11. 2026-06-08
    days on market $145,000 Active 4 DOM
12. 2026-06-07
    days on market $145,000 Active 3 DOM
13. 2026-06-05
    remarks 364-char remark
14. 2026-06-05
    listed $145,000 Active 1 DOM

ⓘ 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: $2,112 · $176/mo
• Projected year-2 tax: $2,194 · $183/mo
• Expected delta: +$82/yr (+$7/mo · 3.9%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,198
• − Mortgage interest: −$8,122
• − Property taxes: −$2,112
• − Insurance: −$725
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$4,218
• Taxable loss: −$4,091
• Est. tax savings @ 24.0%: +$982
• After-tax cash flow: $-554/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: Melcher-Dallas Community School District
• NCES district ID: 1918960
• Math proficiency: 51% ▲ 6.00%
• Reading proficiency: 63% ▲ 13.00%
• Median HH income: $43,108
• Composite: 47.88/100
• National rank: #2215
• State rank: #259 of 289 in IA

Livability — Melcher-Dallas

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melcher-Dallas, IA
• City population: 1,502
• Population (ZIP): 669

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 6% Iranian 5% Slovak 3%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.07%
• Current HPI: 171.2671
• 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

+65.7% since first listed

16 events — show timeline

• 2026-06-04 Listed $145,000 DMMLS
• 2017-10-23 Sold (Public Records) $80,000 Public Records
• 2014-11-25 Sold (MLS) $55,000 DMMLS
• 2014-05-23 Listed $55,000 DMMLS
• 2014-01-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-24 Listed $78,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-20 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-10-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-25 Listed $82,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-10 Listed $86,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-18 Listed $87,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-06 Listed $87,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2025): $2,112 · +3.6% YoY. Source: county tax records.