73 Shaw St · Lansing, IA 52151

$250,000

5 bd · 2.5 ba · 3,924 sqft · MultiFamily public records · 339 Days on market

Built 1960 0.35 ac lot $64/sqft · 37% below area Est $271k · 8% 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 +12.9/30.0
• ARV discount +11.0/15.0
• Appreciation +7.3/10.0
• Schools +6.8/10.0
• 1% rule +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This excellent income producing duplex! This is a great opportunity if you are an investor looking for a turn key cash flow, a full time residence, or weekend getaway with the other unit paying the expenses. The entire property features 2 large recently renovated units, total 5 bedrooms, 2.5 baths, a large open-concept kitchen, dining, and living room. An artesian water system (not city water) and plenty of space for parking boats or extra vehicles on this large lot. This is within walking distance to dining and only minutes to the boat landings. The recent influx of rental demand in the area, this would be a very wise addition to any portfolio. Both units offer a potential GRI $31,200. Call today to receive more details on how to build your wealth with this investment! Financial commitment letters and 48 hour notice required prior to arranging showings.

Key facts

• Open-concept kitchen
• 0.35 acre lot
• 2 parking spots

Tags

• INCOME PRODUCING DUPLEX
• RECENTLY RENOVATED UNITS
• OPEN-CONCEPT KITCHEN
• ARTESIAN WATER SYSTEM
• SPACE FOR PARKING BOATS
• WALKING DISTANCE TO DINING

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $-73 ($-870/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (8.4% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#238 in IA, #4,640 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Eastern Allamakee Community School District (rural): math 84% / reading 79% proficiency, ranked #29 of 289 in IA (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: New Albin Elementary School (math 92% / reading 87%, grade A+, #7 of 616 statewide, top 1%, 155 students, 42% FRL); Lansing Middle School (math 84% / reading 64%, grade A, #76 of 246 statewide, top 33%, 76 students, 49% FRL); Kee High School (math 77% / reading 77%, grade A-, #60 of 336 statewide, top 21%, 99 students, 38% FRL) — zoned schools average 43% FRL vs 27% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 16 active listings in the ZIP; 61 units permitted in Allamakee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.6% local appreciation)).
• Allamakee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; list at $250k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% 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. It's been on market 339 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 9.1

CMA / ARV

• ARV (median comp): $271,206
• List price: $250,000
• Delta: -7.82%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.67×
• Total profit: $46,883
• Equity at exit: $135,023

10-year hold

• IRR: 12.2%
• Equity multiple: 3.13×
• Total profit: $149,125
• Equity at exit: $227,711

Cash invested: $70,000 (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 52151

• Home prices YoY: 2.0%
• Active inventory: 16
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $2,291 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$412 /mo · $4,940/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-73

Break-even live

Break-even rent $2,383

Max offer price $237,190

Occupancy floor 98%

Sensitivity live

Price	-10% $69	-5% $-2	+0% $-73	+5% $-143	+10% $-214
Rent	-10% $-254	-5% $-163	+0% $-73	+5% $18	+10% $108
Rate	-1.0pp $53	-0.5pp $-9	base $-73	+0.5pp $-137	+1.0pp $-203

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,060
1× unit	3	1	$1,231
Total (2 units)			$2,291

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-08-14
   price $250,000 866-char remark

   Show marketing remark (866 chars)

   This excellent income producing duplex! This is a great opportunity if you are an investor looking for a turn key cash flow, a full time residence, or weekend getaway with the other unit paying the expenses. The entire property features 2 large recently renovated units, total 5 bedrooms, 2.5 baths, a large open-concept kitchen, dining, and living room. An artesian water system (not city water) and plenty of space for parking boats or extra vehicles on this large lot. This is within walking distance to dining and only minutes to the boat landings. The recent influx of rental demand in the area, this would be a very wise addition to any portfolio. Both units offer a potential GRI $31,200. Call today to receive more details on how to build your wealth with this investment! Financial commitment letters and 48 hour notice required prior to arranging showings.

2. 2025-06-24
   listed $269,000 Active 866-char remark

   Show marketing remark (866 chars)

   This excellent income producing duplex! This is a great opportunity if you are an investor looking for a turn key cash flow, a full time residence, or weekend getaway with the other unit paying the expenses. The entire property features 2 large recently renovated units, total 5 bedrooms, 2.5 baths, a large open-concept kitchen, dining, and living room. An artesian water system (not city water) and plenty of space for parking boats or extra vehicles on this large lot. This is within walking distance to dining and only minutes to the boat landings. The recent influx of rental demand in the area, this would be a very wise addition to any portfolio. Both units offer a potential GRI $31,200. Call today to receive more details on how to build your wealth with this investment! Financial commitment letters and 48 hour notice required prior to arranging showings.

3. 2025-03-06
   historical $1,400
4. 2025-02-22
   listed $1,400
5. 2024-09-16
   price $265,000
6. 2023-08-18
   price $297,000
7. 2021-10-19
   soldstatus $160,000
8. 2020-07-10
   listed $184,500
9. 2009-10-30
   soldstatus $125,000

ⓘ 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: $4,940 · $412/mo
• Projected year-2 tax: $4,940 · $412/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $27,492
• − Mortgage interest: −$14,004
• − Property taxes: −$4,940
• − Insurance: −$1,916
• − Repairs & maintenance: −$2,199
• − Management: −$2,199
• − Depreciation: −$7,273
• Taxable loss: −$5,040
• Est. tax savings @ 24.0%: +$1,210
• After-tax cash flow: $339/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: Eastern Allamakee Community School District
• NCES district ID: 1910410
• Math proficiency: 84% ▼ -1.00%
• Reading proficiency: 79% ▼ -1.00%
• Median HH income: $44,636
• Composite: 68.41/100
• National rank: #345
• State rank: #29 of 289 in IA

Livability — Lansing

• Score: 74/100
• State rank: #238
• US rank: #4640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IA
• Population (ZIP): 1,956

Population outlook (Allamakee County) Hauer SSP2

• Today (2025): 12,814 people
• By 2030: 12,146 · -5.2%
• By 2040: 10,750 · -16.1%
• By 2050: 9,506 · -25.8%
• By 2075: 7,779 · -39.3%
• By 2100: 6,870 · -46.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Native American 1% Black 1%
• Common ancestry: Portuguese 8% Subsaharan African 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Allamakee

• 2024 margin: Solid R (+34.3) · D 32.2% · R 66.5% · Other 1.3%
• 2008→2024 swing: -48.6pp toward R · 2008: 14.2pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+29.1 2016: R+24.3 2012: D+4.1 2008: D+14.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.56%
• Current HPI: 227.7956
• 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

+100.0% since first listed

9 events — show timeline

• 2025-08-14 Price Changed $250,000 NEIRBR as distributed by MLS GRID
• 2025-06-24 Listed $269,000 NEIRBR as distributed by MLS GRID
• 2025-03-06 Rental Removed $1,400 APPFOLIO
• 2025-02-22 Listed for Rent $1,400 APPFOLIO
• 2024-09-16 Price Changed $265,000 NEIRBR as distributed by MLS GRID
• 2023-08-18 Price Changed $297,000 NEIRBR as distributed by MLS GRID
• 2021-10-19 Sold (MLS) $160,000 NEIRBR as distributed by MLS GRID
• 2020-07-10 Listed $184,500 NEIRBR as distributed by MLS GRID
• 2009-10-30 Sold (Public Records) $125,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $4,940 · +4.6% YoY. Source: county tax records.