603 E Church St · Marshalltown, IA 50158

$99,900

4 bd · 2.0 ba · 2,907 sqft · SingleFamily public records · 84 Days on market

Built 1913 0.25 ac lot $34/sqft · 45% below area Est $145k · 31% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unique property offers a layout you don’t come across every day. The main level features four bedrooms, a spacious laundry room, extra storage, and an open kitchen, dining, and living area that keeps everyone connected. Upstairs opens the door to even more possibilities. With its own exterior entrance, the upper level includes a small kitchen, living room, bedroom with a walk-in closet, and full bathroom. Whether you’re thinking about a future mother-in-law suite, guest space, or rental opportunity, the setup is already there waiting for the right vision. (The interior staircase to the upper level is steep, but for the right buyer it could be well worth the climb. ) Outside, the home continues to offer space to enjoy. A covered gathering area provides a great place to relax or host friends, while the large fenced yard gives plenty of room to spread out. The garage offers additional storage or workshop potential.

Key facts

• Walk-in closet
• Full bathroom
• Large fenced yard

Tags

• WALK-IN CLOSET
• FULL BATHROOM
• COVERED GATHERING AREA
• LARGE FENCED YARD
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 4.5% in Marshalltown — 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 78/100 on livability (#133 in IA, #2,464 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, amenities F.
• Marshalltown Community School District (town): math 50% / reading 52% proficiency, ranked #278 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 161 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.7

CMA / ARV

• ARV (median comp): $145,495
• List price: $99,900
• Delta: -31.34%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 E Boone St	0.20mi	3/3.5 (-1)	2,702 (-7%)	20mo	$150,000	$56	51
304 N 11th Ave	0.54mi	3/2.0 (-1)	2,680 (-8%)	14mo	$83,000	$31	45

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $10,429
• Equity at exit: $14,895

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $43,484
• Equity at exit: $8,638

Cash invested: $27,972 (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 50158

• Active inventory: 161
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,452 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$164 /mo · $1,974/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $417

Break-even live

Break-even rent $924

Max offer price $99,900

Occupancy floor 66%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-03
   days on market $99,900 Active 84 DOM
2. 2026-06-02
   days on market $99,900 Active 83 DOM
3. 2026-06-01
   days on market $99,900 Active 82 DOM
4. 2026-05-31
   days on market $99,900 Active 81 DOM
5. 2026-05-30
   days on market $99,900 Active 80 DOM
6. 2026-04-07
   price $99,900 943-char remark

   Show marketing remark (943 chars)

   This unique property offers a layout you don’t come across every day. The main level features four bedrooms, a spacious laundry room, extra storage, and an open kitchen, dining, and living area that keeps everyone connected. Upstairs opens the door to even more possibilities. With its own exterior entrance, the upper level includes a small kitchen, living room, bedroom with a walk-in closet, and full bathroom. Whether you’re thinking about a future mother-in-law suite, guest space, or rental opportunity, the setup is already there waiting for the right vision. (The interior staircase to the upper level is steep, but for the right buyer it could be well worth the climb. ) Outside, the home continues to offer space to enjoy. A covered gathering area provides a great place to relax or host friends, while the large fenced yard gives plenty of room to spread out. The garage offers additional storage or workshop potential.

7. 2026-04-07
   price $99,900

   Show marketing remark (943 chars)

   This unique property offers a layout you don’t come across every day. The main level features four bedrooms, a spacious laundry room, extra storage, and an open kitchen, dining, and living area that keeps everyone connected. Upstairs opens the door to even more possibilities. With its own exterior entrance, the upper level includes a small kitchen, living room, bedroom with a walk-in closet, and full bathroom. Whether you’re thinking about a future mother-in-law suite, guest space, or rental opportunity, the setup is already there waiting for the right vision. (The interior staircase to the upper level is steep, but for the right buyer it could be well worth the climb. ) Outside, the home continues to offer space to enjoy. A covered gathering area provides a great place to relax or host friends, while the large fenced yard gives plenty of room to spread out. The garage offers additional storage or workshop potential.

8. 2026-03-11
   listed $114,900 Active

   Show marketing remark (943 chars)

   This unique property offers a layout you don’t come across every day. The main level features four bedrooms, a spacious laundry room, extra storage, and an open kitchen, dining, and living area that keeps everyone connected. Upstairs opens the door to even more possibilities. With its own exterior entrance, the upper level includes a small kitchen, living room, bedroom with a walk-in closet, and full bathroom. Whether you’re thinking about a future mother-in-law suite, guest space, or rental opportunity, the setup is already there waiting for the right vision. (The interior staircase to the upper level is steep, but for the right buyer it could be well worth the climb. ) Outside, the home continues to offer space to enjoy. A covered gathering area provides a great place to relax or host friends, while the large fenced yard gives plenty of room to spread out. The garage offers additional storage or workshop potential.

9. 2026-03-11
   listed $114,900 Active 943-char remark

   Show marketing remark (943 chars)

   This unique property offers a layout you don’t come across every day. The main level features four bedrooms, a spacious laundry room, extra storage, and an open kitchen, dining, and living area that keeps everyone connected. Upstairs opens the door to even more possibilities. With its own exterior entrance, the upper level includes a small kitchen, living room, bedroom with a walk-in closet, and full bathroom. Whether you’re thinking about a future mother-in-law suite, guest space, or rental opportunity, the setup is already there waiting for the right vision. (The interior staircase to the upper level is steep, but for the right buyer it could be well worth the climb. ) Outside, the home continues to offer space to enjoy. A covered gathering area provides a great place to relax or host friends, while the large fenced yard gives plenty of room to spread out. The garage offers additional storage or workshop potential.

10. 2025-11-24
    historical
11. 2025-10-14
    price $114,900
12. 2025-10-14
    price $114,900
13. 2025-07-08
    price $119,900
14. 2025-07-08
    price $119,900
15. 2025-05-19
    status Active
16. 2025-05-19
    status Active
17. 2025-04-22
    status Pending
18. 2025-04-22
    status Pending
19. 2025-04-01
    listed $124,900 Active
20. 2025-04-01
    listed $124,900 Active
21. 2004-07-30
    soldstatus $70,000
22. 1997-02-11
    soldstatus $60,000

ⓘ 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: $1,974 · $164/mo
• Projected year-2 tax: $1,974 · $164/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $17,426
• − Mortgage interest: −$5,596
• − Property taxes: −$1,974
• − Insurance: −$500
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$2,906
• Taxable income: $3,662
• Est. tax owed @ 24.0%: −$879
• After-tax cash flow: $4,127/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: Marshalltown Community School District
• NCES district ID: 1918720
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $47,877
• Composite: 43.41/100
• National rank: #3015
• State rank: #278 of 289 in IA

Livability — Marshalltown

• Score: 78/100
• State rank: #133
• US rank: #2464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshalltown, IA
• County: Marshall County · 31,396 people
• City population: 31,396
• Metro: Marshalltown, IA
• Population (ZIP): 31,396
• Household income: $70,367
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 369.0

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 41,166 people
• By 2030: 41,477 · +0.8%
• By 2040: 42,548 · +3.4%
• By 2050: 44,472 · +8.0%
• By 2075: 52,719 · +28.1%
• By 2100: 60,912 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 30% Two or more races 14% Asian 5% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Portuguese 3% Italian 2% Iranian 1%
• Foreign-born: 17% · Canada, Philippines, China
• Languages at home: 71% English-only · Spanish 24% Other Asian/Pacific 4% French/Haitian/Cajun 1%

Political lean MEDSL · Marshall

• 2024 margin: R (+15.6) · D 41.4% · R 57.0% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: 9.3pp · 2024: -15.6pp
• All cycles: 2024: R+15.6 2020: R+7.7 2016: R+8.5 2012: D+8.9 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.80%
• Current HPI: 177.4692
• Rent YoY: —
• Metro: Marshalltown, IA
• 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

+66.5% since first listed

17 events — show timeline

• 2026-04-07 Price Changed $99,900 IAR
• 2026-04-07 Price Changed $99,900 DMMLS
• 2026-03-11 Listed $114,900 IAR
• 2026-03-11 Listed $114,900 DMMLS
• 2025-11-24 Listing Removed — DMMLS
• 2025-10-14 Price Changed $114,900 IAR
• 2025-10-14 Price Changed $114,900 DMMLS
• 2025-07-08 Price Changed $119,900 IAR
• 2025-07-08 Price Changed $119,900 DMMLS
• 2025-05-19 Relisted — IAR
• 2025-05-19 Relisted — DMMLS
• 2025-04-22 Pending — IAR
• 2025-04-22 Pending — DMMLS
• 2025-04-01 Listed $124,900 IAR
• 2025-04-01 Listed $124,900 DMMLS
• 2004-07-30 Sold (Public Records) $70,000 Public Records
• 1997-02-11 Sold (Public Records) $60,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,974 · +5.9% YoY. Source: county tax records.