1000 1st Ave S · Clear Lake, IA 50428

$171,900

4 bd · 2.0 ba · 1,334 sqft · SingleFamily public records · 22 Days on market

Built 1930 3,286 sqft lot Est $251k · 31% 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 +15.0/15.0
• Cash flow +12.6/30.0
• Schools +6.0/10.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A Diamond in the Rough. Just a stone's throw from Downtown, Parks, Splash Pad, Beach & Shopping. A great opportunity for VRBO or weekend getaway. With your hard work, vacation living is affordable. Corner lot - just off the parade route. Call your trusted agent today and make an offer.

Key facts

• 3,286 sq ft lot
• Built 1930
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $-24 ($-282/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (19.3% below list).
• Recommended offer: $139k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 1.1% in Clear Lake — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#25 in IA, #735 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Clear Lake Community School District (town): math 66% / reading 76% proficiency, ranked #128 of 289 in IA (top 44%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; 54 units permitted in Cerro Gordo County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cerro Gordo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $56k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $172k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,680 (19.3% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.81% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $250,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 3rd Ave Ave S	0.14mi	3/1.0 (-1)	1,390 (+4%)	1mo	$142,500	$103	77
16 N 12th St St	0.16mi	4/2.0	1,415 (+6%)	13mo	$215,000	$152	72
1909 Main Ave	0.56mi	3/2.0 (-1)	1,300 (-2%)	0mo	$245,000	$188	64
208 S 12th St	0.14mi	3/1.5 (-1)	1,245 (-7%)	14mo	$215,000	$173	64
1201 Main Ave	0.10mi	3/1.0 (-1)	1,215 (-9%)	10mo	$190,000	$156	63
113 S 9th St	0.11mi	3/2.0 (-1)	1,499 (+12%)	11mo	$168,000	$112	60
703 S 8th St	0.43mi	3/2.0 (-1)	1,417 (+6%)	8mo	$285,000	$201	58
1312 2nd Ave Ave NE	0.32mi	4/2.5	1,440 (+8%)	17mo	$337,000	$234	56
207 N 7th St	0.31mi	4/1.0	1,445 (+8%)	16mo	$187,696	$130	55
713 S 8th St	0.46mi	3/3.0 (-1)	1,430 (+7%)	7mo	$278,750	$195	51
300 N 9th St	0.26mi	3/2.0 (-1)	1,149 (-14%)	15mo	$247,500	$215	47
2 N 16th St	0.38mi	3/2.0 (-1)	1,526 (+14%)	13mo	$344,900	$226	42

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-29,374
• Equity at exit: $25,631

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-27,594
• Equity at exit: $14,863

Cash invested: $48,132 (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 50428

• Active inventory: 112
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$901
• Tax from tax record: −$146 /mo · $1,752/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-24

Break-even live

Break-even rent $1,417

Max offer price $167,746

Occupancy floor 97%

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: $42,975
• Closing costs: $5,157
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $171,900 Active 22 DOM
2. 2026-06-17
   days on market $171,900 Active 21 DOM
3. 2026-06-16
   days on market $171,900 Active 20 DOM
4. 2026-06-15
   days on market $171,900 Active 19 DOM
5. 2026-06-13
   days on market $171,900 Active 17 DOM
6. 2026-06-12
   days on market $171,900 Active 16 DOM
7. 2026-06-09
   days on market $171,900 Active 13 DOM
8. 2026-06-08
   days on market $171,900 Active 12 DOM
9. 2026-06-07
   days on market $171,900 Active 11 DOM
10. 2026-06-07
    days on market $171,900 Active 10 DOM
11. 2026-06-04
    days on market $171,900 Active 7 DOM
12. 2026-06-02
    days on market $171,900 Active 6 DOM
13. 2026-06-01
    days on market $171,900 Active 5 DOM
14. 2026-05-31
    days on market $171,900 Active 4 DOM
15. 2026-05-31
    days on market $171,900 Active 3 DOM
16. 2026-05-26
    listed $228,000 Active
17. 2025-06-06
    listed $274,170 Active
18. 2018-12-14
    listed $104,000
19. 2015-12-04
    soldstatus $65,000
20. 2015-09-30
    listed $69,900
21. 2015-04-07
    listed $72,000

ⓘ 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: $1,752 · $146/mo
• Projected year-2 tax: $2,225 · $185/mo
• Expected delta: +$473/yr (+$39/mo · 27.0%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $16,642
• − Mortgage interest: −$9,629
• − Property taxes: −$1,752
• − Insurance: −$860
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$5,001
• Taxable loss: −$3,262
• Est. tax savings @ 24.0%: +$783
• After-tax cash flow: $501/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: Clear Lake Community School District
• NCES district ID: 1907620
• Math proficiency: 66% ▼ -3.00%
• Reading proficiency: 76% ▲ 3.00%
• Median HH income: $51,058
• Composite: 60.26/100
• National rank: #857
• State rank: #128 of 289 in IA

Livability — Clear Lake

• Score: 84/100
• State rank: #25
• US rank: #735

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clear Lake, IA
• City population: 9,093
• Population (ZIP): 9,093

Population outlook (Cerro Gordo County) Hauer SSP2

• Today (2025): 41,080 people
• By 2030: 39,746 · -3.2%
• By 2040: 36,608 · -10.9%
• By 2050: 33,682 · -18.0%
• By 2075: 29,702 · -27.7%
• By 2100: 27,399 · -33.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Asian 2% Two or more races 1%
• Common ancestry: Portuguese 16% Italian 3% Iranian 3%
• Foreign-born: 2% · China, Canada, Dominican Republic
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Cerro Gordo

• 2024 margin: R (+11.7) · D 43.4% · R 55.0% · Other 1.6%
• 2008→2024 swing: -32.5pp toward R · 2008: 20.8pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+6.3 2016: R+7.7 2012: D+13.2 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.36%
• Current HPI: 225.3917
• 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

+216.7% since first listed

6 events — show timeline

• 2026-05-26 Listed $228,000 FSBO.com
• 2025-06-06 Listed $274,170 Greater Mason BOR
• 2018-12-14 Listed $104,000 IAR
• 2015-12-04 Sold (MLS) $65,000 IAR
• 2015-09-30 Listed $69,900 IAR
• 2015-04-07 Listed $72,000 IAR

Property tax history

+5.6%/yr

Latest (2025): $1,752 · -7.7% YoY. Source: county tax records.