210 N Elm St · Marcus, IA 51035

$110,000

2 bd · 2.0 ba · 1,844 sqft · SingleFamily public records · 11 Days on market

Built 1948 4,200 sqft lot Est $194k · 43% under

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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 +20.3/30.0
• ARV discount +15.0/15.0
• Schools +6.5/10.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• Livability +3.9/5.0
• Appreciation +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcoming 1½ story home located at 210 N. Elm St. in Marcus, Iowa. This property offers 1,361 square feet of above ground living space, hardwood flooring, an attached single-car garage with additional shop area, a full block basement, and an attic area that could be finished into a third bedroom. Major updates include a new roof in 2018, new garage door opener in 2019, washer and dryer in 2019, furnace thermostat in 2026, and a gas water heater in 2025.

Key facts

• Hardwood flooring
• Full block basement
• Attic area

Tags

• HARDWOOD FLOORING
• ATTACHED SINGLE-CAR GARAGE
• FULL BLOCK BASEMENT
• ATTIC AREA
• NEW ROOF
• NEW GARAGE DOOR OPENER

Property features AI

Exterior

• Parking: Attached concrete garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Below-grade finished area included; Below-grade finished area: 200
• Exterior features: Shingle roof; Aluminum siding

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Water softener; Partially finished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (2.0% below list).
• Recommended offer: $108k (2.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#130 in IA, #2,373 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Marcus-Meriden-Cleghorn Community School District (rural): math 75% / reading 75% proficiency, ranked #102 of 330 in IA (top 31%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,757 (2.0% below list)

Questions for the listing agent

1. Built in 1948 — 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: 0.98% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $193,620
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 N Beech St	0.15mi	3/3.0 (+1)	1,772 (-4%)	8mo	$235,000	$133	71
104 S Elm St	0.18mi	2/1.5	1,719 (-7%)	11mo	$127,500	$74	69
403 N Linn St	0.39mi	2/2.0	1,729 (-6%)	4mo	$165,000	$95	68
606 E Amherst St	0.26mi	2/1.5	1,922 (+4%)	20mo	$150,000	$78	62
308 S Elm St	0.46mi	3/2.0 (+1)	1,960 (+6%)	2mo	$252,350	$129	62
109 N Oak St	0.08mi	3/2.0 (+1)	1,626 (-12%)	23mo	$155,000	$95	52
204 Crestwood Dr	0.43mi	2/2.0	2,026 (+10%)	24mo	$239,000	$118	44
200 Ridgeway Dr	0.39mi	2/2.0	2,100 (+14%)	23mo	$220,000	$105	40

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-8,926
• Equity at exit: $16,401

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $3,647
• Equity at exit: $9,511

Cash invested: $30,800 (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 51035

• Home prices YoY: -1.8%
• Active inventory: 11
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$89 /mo · $1,064/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $140

Break-even live

Break-even rent $900

Max offer price $110,000

Occupancy floor 82%

Sensitivity live

Price	-10% $202	-5% $171	+0% $140	+5% $109	+10% $78
Rent	-10% $55	-5% $97	+0% $140	+5% $182	+10% $225
Rate	-1.0pp $195	-0.5pp $168	base $140	+0.5pp $111	+1.0pp $82

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $110,000 Active 11 DOM
2. 2026-06-18
   days on market $110,000 Active 9 DOM
3. 2026-06-17
   days on market $110,000 Active 8 DOM
4. 2026-06-16
   days on market $110,000 Active 7 DOM
5. 2026-06-15
   days on market $110,000 Active 6 DOM
6. 2026-06-13
   days on market $110,000 Active 4 DOM
7. 2026-06-12
   days on market $110,000 Active 3 DOM
8. 2026-06-09
   remarks 457-char remark
9. 2026-06-09
   listed $110,000 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: $1,064 · $89/mo
• Projected year-2 tax: $1,396 · $116/mo
• Expected delta: +$332/yr (+$28/mo · 31.2%)

ⓘ 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 ≥101°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: $12,931
• − Mortgage interest: −$6,162
• − Property taxes: −$1,064
• − Insurance: −$550
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$3,200
• Taxable loss: −$114
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $1,706/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: Marcus-Meriden-Cleghorn Community School District
• NCES district ID: 1918630
• Math proficiency: 75% ▼ -15.00%
• Reading proficiency: 75% ▼ -15.00%
• Median HH income: $54,764
• Composite: 64.96/100
• National rank: #1091
• State rank: #102 of 330 in IA

Livability — Marcus

• Score: 78/100
• State rank: #130
• US rank: #2373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marcus, IA
• Population (ZIP): 1,664

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Portuguese 3% Lithuanian 3%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.11%
• Current HPI: 222.828
• 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

+48.6% since first listed

3 events — show timeline

• 2026-06-09 Listed $110,000 NWIA
• 2020-09-28 Sold (Public Records) $74,000 Public Records
• 2020-09-28 Sold (Public Records) $74,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,064 · +2.5% YoY. Source: county tax records.