108 S Elm St · Gilman, IA 50106

$125,000

2 bd · 1.0 ba · 908 sqft · SingleFamily public records · 87 Days on market

Built 1940 0.30 ac lot $138/sqft · at area comps Est $120k · at est.

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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).

• Cash flow +10.0/30.0
• Appreciation +7.4/10.0
• ARV discount +5.8/15.0
• Schools +5.8/10.0
• Livability +3.4/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

Small-town charm awaits in the heart of Gilman! This adorable 2-bedroom home is clean, updated, and truly move-in ready. Enjoy the open floor plan, beautiful hardwood floors. The home also features a new roof, new windows, and a fully updated bathroom with brand-new flooring for added peace of mind. The kitchen comes complete with appliances, along with new countertops and sink. The basement offers plenty of extra space with endless potential. An attached heated garage with a breezeway adds comfort and convenience year-round. Step outside to a nicely fenced-in yard featuring a paver patio—perfect for relaxing or entertaining. LOTS OF UPDATES and move-in ready! Don’t miss your chance—this one won’t last long. Call today to schedule your private showing.

Key facts

• Open floor plan
• New countertops
• Hardwood floors

Tags

• OPEN FLOOR PLAN
• HARDWOOD FLOORS
• NEW ROOF
• NEW WINDOWS
• UPDATED BATHROOM
• NEW COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-75 ($-904/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (29.6% below list).
• Recommended offer: $88k (29.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#447 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, employment A-; Watch: amenities F, commute F, health & safety D-.
• East Marshall Community School District (rural): math 63% / reading 73% proficiency, ranked #165 of 289 in IA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 35 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $6k appreciation (4.8% local appreciation)).
• Marshall County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $18k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $125k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,949 (29.6% 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 87 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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?
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 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: 0.70% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.58%
• DSCR: 0.89
• GRM: 11.8

CMA / ARV

• ARV (median comp): $120,352
• List price: $125,000
• Delta: 3.86%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 W Center St	0.29mi	2/1.5	1,011 (+11%)	24mo	$104,000	$103	46

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

Projected returns pro-forma

4.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.65×
• Total profit: $22,850
• Equity at exit: $69,644

10-year hold

• IRR: 11.7%
• Equity multiple: 3.11×
• Total profit: $73,700
• Equity at exit: $119,221

Cash invested: $35,000 (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 50106

• Home prices YoY: 4.1%
• Active inventory: 5
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $879 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$62 /mo · $750/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $-75

Break-even live

Break-even rent $975

Max offer price $111,698

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $125,000 Active 87 DOM
2. 2026-06-18
   days on market $125,000 Active 86 DOM
3. 2026-06-17
   price $125,000 Active 85 DOM
4. 2026-06-17
   days on market $129,900 Active 85 DOM
5. 2026-06-17
   status $129,900 Active 84 DOM
6. 2026-06-16
   days on market $129,900 Active Under Contract 84 DOM
7. 2026-06-15
   days on market $129,900 Active Under Contract 83 DOM
8. 2026-06-14
   days on market $129,900 Active Under Contract 81 DOM
9. 2026-06-12
   days on market $129,900 Active Under Contract 80 DOM
10. 2026-06-09
    days on market $129,900 Active Under Contract 77 DOM
11. 2026-06-08
    days on market $129,900 Active Under Contract 76 DOM
12. 2026-06-07
    days on market $129,900 Active Under Contract 75 DOM
13. 2026-06-05
    days on market $129,900 Active Under Contract 72 DOM
14. 2026-06-03
    days on market $129,900 Active Under Contract 71 DOM
15. 2026-06-02
    days on market $129,900 Active Under Contract 70 DOM
16. 2026-06-01
    days on market $129,900 Active Under Contract 69 DOM
17. 2026-05-31
    days on market $129,900 Active Under Contract 68 DOM
18. 2026-05-30
    days on market $129,900 Active Under Contract 67 DOM
19. 2026-05-19
    price $129,900 786-char remark

    Show marketing remark (786 chars)

    Small-town charm awaits in the heart of Gilman! This adorable 2-bedroom home is clean, updated, and truly move-in ready. Enjoy the open floor plan, beautiful hardwood floors. The home also features a new roof, new windows, and a fully updated bathroom with brand-new flooring for added peace of mind. The kitchen comes complete with appliances, along with new countertops and sink. The basement offers plenty of extra space with endless potential. An attached heated garage with a breezeway adds comfort and convenience year-round. Step outside to a nicely fenced-in yard featuring a paver patio—perfect for relaxing or entertaining. LOTS OF UPDATES and move-in ready! Don’t miss your chance—this one won’t last long. Call today to schedule your private showing.

20. 2026-04-27
    price $135,000 786-char remark

    Show marketing remark (786 chars)

    Small-town charm awaits in the heart of Gilman! This adorable 2-bedroom home is clean, updated, and truly move-in ready. Enjoy the open floor plan, beautiful hardwood floors. The home also features a new roof, new windows, and a fully updated bathroom with brand-new flooring for added peace of mind. The kitchen comes complete with appliances, along with new countertops and sink. The basement offers plenty of extra space with endless potential. An attached heated garage with a breezeway adds comfort and convenience year-round. Step outside to a nicely fenced-in yard featuring a paver patio—perfect for relaxing or entertaining. LOTS OF UPDATES and move-in ready! Don’t miss your chance—this one won’t last long. Call today to schedule your private showing.

21. 2026-04-07
    price $139,900 786-char remark

    Show marketing remark (786 chars)

    Small-town charm awaits in the heart of Gilman! This adorable 2-bedroom home is clean, updated, and truly move-in ready. Enjoy the open floor plan, beautiful hardwood floors. The home also features a new roof, new windows, and a fully updated bathroom with brand-new flooring for added peace of mind. The kitchen comes complete with appliances, along with new countertops and sink. The basement offers plenty of extra space with endless potential. An attached heated garage with a breezeway adds comfort and convenience year-round. Step outside to a nicely fenced-in yard featuring a paver patio—perfect for relaxing or entertaining. LOTS OF UPDATES and move-in ready! Don’t miss your chance—this one won’t last long. Call today to schedule your private showing.

22. 2026-03-24
    listed $142,900 Active 786-char remark

    Show marketing remark (786 chars)

    Small-town charm awaits in the heart of Gilman! This adorable 2-bedroom home is clean, updated, and truly move-in ready. Enjoy the open floor plan, beautiful hardwood floors. The home also features a new roof, new windows, and a fully updated bathroom with brand-new flooring for added peace of mind. The kitchen comes complete with appliances, along with new countertops and sink. The basement offers plenty of extra space with endless potential. An attached heated garage with a breezeway adds comfort and convenience year-round. Step outside to a nicely fenced-in yard featuring a paver patio—perfect for relaxing or entertaining. LOTS OF UPDATES and move-in ready! Don’t miss your chance—this one won’t last long. Call today to schedule your private showing.

23. 2020-03-24
    soldstatus $68,000
24. 2020-03-23
    soldstatus $68,000 479-char remark

    Show marketing remark (479 chars)

    Small town living awaits! This super cute 2 bedroom home is located in the heart of Gilman. It has so much to offer & is clean & move-in ready. Beautiful hardwood flooring & updated interior. Kitchen includes appliances & newer counters & sink. So much extra space & potential in the basement. Very nice fenced-in yard with paver patio. Single attached garage with work bench. This home will not last! Call today to schedule a private showing!

25. 2019-09-30
    listed $69,900 479-char remark

    Show marketing remark (479 chars)

    Small town living awaits! This super cute 2 bedroom home is located in the heart of Gilman. It has so much to offer & is clean & move-in ready. Beautiful hardwood flooring & updated interior. Kitchen includes appliances & newer counters & sink. So much extra space & potential in the basement. Very nice fenced-in yard with paver patio. Single attached garage with work bench. This home will not last! Call today to schedule a private showing!

26. 2016-10-28
    soldstatus $57,000
27. 2016-10-26
    soldstatus $57,000
28. 2016-05-23
    listed $62,900
29. 2016-03-02
    soldstatus $24,000
30. 2016-02-29
    soldstatus $24,000
31. 2015-12-17
    listed $24,900
32. 2015-08-18
    listed $24,900
33. 2009-08-26
    soldstatus $52,000
34. 1997-03-05
    soldstatus $36,000

ⓘ 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: $750 · $62/mo
• Projected year-2 tax: $1,356 · $113/mo
• Expected delta: +$606/yr (+$51/mo · 80.8%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,554
• − Mortgage interest: −$7,002
• − Property taxes: −$750
• − Insurance: −$625
• − Repairs & maintenance: −$844
• − Management: −$844
• − Depreciation: −$3,636
• Taxable loss: −$3,148
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $-148/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: East Marshall Community School District
• NCES district ID: 1900040
• Math proficiency: 63% ▼ -9.00%
• Reading proficiency: 73% ▬ 0.00%
• Median HH income: $55,218
• Composite: 58.17/100
• National rank: #1025
• State rank: #165 of 289 in IA

Livability — Gilman

• Score: 68/100
• State rank: #447
• US rank: #9787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilman, IA
• Population (ZIP): 1,121

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: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 8% Italian 6% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 4.84%
• Current HPI: 123.0459
• 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

+260.8% since first listed

16 events — show timeline

• 2026-05-19 Price Changed $129,900 IAR
• 2026-04-27 Price Changed $135,000 IAR
• 2026-04-07 Price Changed $139,900 IAR
• 2026-03-24 Listed $142,900 IAR
• 2020-03-24 Sold (Public Records) $68,000 Public Records
• 2020-03-23 Sold (MLS) $68,000 IAR
• 2019-09-30 Listed $69,900 IAR
• 2016-10-28 Sold (Public Records) $57,000 Public Records
• 2016-10-26 Sold (MLS) $57,000 IAR
• 2016-05-23 Listed $62,900 IAR
• 2016-03-02 Sold (MLS) $24,000 IAR
• 2016-02-29 Sold (MLS) $24,000 DMMLS
• 2015-12-17 Listed $24,900 DMMLS
• 2015-08-18 Listed $24,900 IAR
• 2009-08-26 Sold (Public Records) $52,000 Public Records
• 1997-03-05 Sold (Public Records) $36,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $750 · -6.0% YoY. Source: county tax records.