601 State St · Scranton, IA 51462

$9,900

4 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 147 Days on market

Built 1906 9,583 sqft lot $7/sqft · 91% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This property is an excellent opportunity for fix and flip, rental or make it your own. It is mostly demoed out, ready for you to complete your vision. Instant equity, with tons of potential with this solid bargain. Call today!

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1906

🏷️ Possibly a rental listed for sale. The $9,900 price doesn't fit this home's estimated sale value (~$104,892) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#785 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Greene County Community School District (town): math 58% / reading 67% proficiency, ranked #223 of 289 in IA (top 77%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greene County Elementary (math 62% / reading 52%, grade C+, #436 of 616 statewide, top 74%, 539 students, 52% FRL); Greene County Middle School (math 60% / reading 70%, grade A-, #154 of 246 statewide, top 63%, 346 students, 49% FRL); Greene County High School (math 54% / reading 74%, grade B-, #235 of 336 statewide, top 71%, 374 students, 42% FRL).
• Market conditions: 9 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $475 of equity ($68 loan paydown + $407 appreciation (4.1% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 13.07% ✓
• Cap rate: 121.93%
• Cash-on-cash: 412.97%
• DSCR: 19.38
• GRM: 0.6

CMA / ARV

• ARV (median comp): $104,892
• List price: $9,900
• Delta: -90.56%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 Grant St	0.12mi	4/2.0	1,456 (+10%)	2mo	$110,000	$76	73
1101 State St	0.30mi	4/2.0	1,330 (+0%)	16mo	$15,000	$11	68
904 High St	0.28mi	3/2.0 (-1)	1,444 (+9%)	18mo	$102,000	$71	48

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

Projected returns pro-forma

4.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 23.57×
• Total profit: $62,567
• Equity at exit: $5,085

10-year hold

• IRR: —
• Equity multiple: 50.39×
• Total profit: $136,907
• Equity at exit: $8,370

Cash invested: $2,772 (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 51462

• Home prices YoY: 2.2%
• Active inventory: 9
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $148/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $954

Break-even live

Break-even rent $87

Max offer price $9,900

Occupancy floor 21%

Sensitivity live

Price	-10% $961	-5% $957	+0% $954	+5% $951	+10% $947
Rent	-10% $852	-5% $903	+0% $954	+5% $1,005	+10% $1,056
Rate	-1.0pp $959	-0.5pp $956	base $954	+0.5pp $951	+1.0pp $949

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: $2,475
• Closing costs: $297
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $9,900 Active 147 DOM
2. 2026-06-21
   days on market $9,900 Active 146 DOM
3. 2026-06-21
   days on market $9,900 Active 145 DOM
4. 2026-06-18
   days on market $9,900 Active 143 DOM
5. 2026-06-17
   days on market $9,900 Active 142 DOM
6. 2026-06-16
   days on market $9,900 Active 141 DOM
7. 2026-06-15
   days on market $9,900 Active 140 DOM
8. 2026-06-13
   days on market $9,900 Active 138 DOM
9. 2026-06-12
   days on market $9,900 Active 137 DOM
10. 2026-06-09
    days on market $9,900 Active 134 DOM
11. 2026-06-08
    days on market $9,900 Active 133 DOM
12. 2026-06-07
    days on market $9,900 Active 132 DOM
13. 2026-06-07
    days on market $9,900 Active 131 DOM
14. 2026-06-04
    days on market $9,900 Active 128 DOM
15. 2026-06-02
    days on market $9,900 Active 127 DOM
16. 2026-06-01
    days on market $9,900 Active 126 DOM
17. 2026-05-31
    days on market $9,900 Active 125 DOM
18. 2026-05-31
    days on market $9,900 Active 124 DOM
19. 2026-01-27
    listed $9,900 Active 227-char remark

    Show marketing remark (227 chars)

    This property is an excellent opportunity for fix and flip, rental or make it your own. It is mostly demoed out, ready for you to complete your vision. Instant equity, with tons of potential with this solid bargain. Call today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥103°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: $15,530
• − Mortgage interest: −$555
• − Property taxes: −$148
• − Insurance: −$50
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$288
• Taxable income: $12,005
• Est. tax owed @ 24.0%: −$2,881
• After-tax cash flow: $8,567/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: Greene County Community School District
• NCES district ID: 1915210
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $46,051
• Composite: 52.74/100
• National rank: #1548
• State rank: #223 of 289 in IA

Livability — Scranton

• Score: 61/100
• State rank: #785
• US rank: #17818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scranton, IA
• City population: 940
• Population (ZIP): 940

Population outlook (Greene County) Hauer SSP2

• Today (2025): 8,361 people
• By 2030: 8,090 · -3.2%
• By 2040: 7,607 · -9.0%
• By 2050: 7,186 · -14.1%
• By 2075: 6,528 · -21.9%
• By 2100: 5,799 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+33.0) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -33.4pp toward R · 2008: 0.5pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+28.8 2016: R+23.8 2012: R+0.1 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.11%
• Current HPI: 188.1394
• 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

• 2026-01-27 Listed $9,900 IAR

Property tax history

+22.1%/yr

Latest (2025): $630 · +5.4% YoY. Source: county tax records.