2408 Chancy St · Clinton, IA 52732

$149,000

3 bd · 2.5 ba · 1,554 sqft · SingleFamily public records · 3 Days on market

Built 1954 6,534 sqft lot $96/sqft · 57% above area

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.0/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 3 bedroom home. Clean and ready to move into. 2.5 baths with spacious living room, wood burning fireplace. new gutters and down spouts, interior freshly painted, new electical service and breaker box. Attatched garage, alley. Clean and Neat!

Key facts

• Brick fireplace
• Main floor laundry
• Accessible bathroom

Tags

• EXPANSIVE UTILITY SUITE
• MAIN FLOOR LAUNDRY
• ACCESSIBLE BATHROOM
• ROLL IN SHOWER
• UTILITY SINK
• BRICK FIREPLACE

Property features AI

Finance

• Other: Living area source: assessor; Approximate total finished living area reported as 1,554 (source: assessor); Unfinished basement area reported; Parcel number available
• HOA & community: No master association fee required; Community features include park, curbs, street lights, and paved streets

Exterior

• Parking: Attached garage with concrete driveway and garage door opener (1 garage space, 1 total parking space); Owned garage
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Cable available
• Home design: Detached single-family home; One-story layout; Fee simple ownership; House age approximately 71–80 years; Facing details not provided
• Construction: Vinyl siding; Metal roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Deck and patio; Hot tub; Level lot (approximately 50 x 127)

Interior

• Kitchen: Kitchen with eating area/table space
• Bedrooms: Master bedroom on main level (15 x 14); Second bedroom on main level (13 x 13); Two additional bedroom spaces (possible bedrooms listed)
• Flooring: Laminate flooring throughout main living areas
• Bathrooms: One full bathroom; Two half bathrooms; Basement contains a bathroom
• Heating & cooling: Natural gas steam heating; Window air conditioning units
• Interior features: First-floor full bathroom; Dining area combined with kitchen; Storm door(s); Window treatments, drapes, and screens; Pull-down attic stairs; Unfinished full basement; Disability access/equipped
• Laundry & utility: Main-level laundry with electric dryer hookup, sink, and multiple locations

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $149k).

Location & tenants

• Location reads 75/100 on livability (#222 in IA, #4,192 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D, employment D.
• Clinton Community School District (town): math 52% / reading 56% proficiency, ranked #273 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bluff Elementary School (math 52% / reading 47%, grade D, #514 of 616 statewide, top 85%, 385 students, 65% FRL); Clinton Middle School (math 49% / reading 53%, grade C, #210 of 246 statewide, top 87%, 749 students, 59% FRL); Clinton High School (math 43% / reading 57%, grade D+, #313 of 336 statewide, top 93%, 981 students, 49% FRL).
• Market conditions: 247 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 116 units permitted in Clinton County in 2024 (50 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 $4k of value loss. Plan a longer hold.
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1954 — 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 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.00% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

• ARV (median comp): $95,093
• List price: $149,000
• Delta: 56.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2408 Chancy St	0.04mi	3/2.5	1,554 (0%)	0mo	$149,000	$96	98
2362 Barker St	0.19mi	3/1.5	1,600 (+3%)	3mo	$42,500	$27	80
2410 Barker St	0.12mi	3/2.0	1,320 (-15%)	3mo	$160,000	$121	64
2100 Center Ct	0.45mi	3/1.0	1,600 (+3%)	12mo	$112,000	$70	58
259 16th Pl	0.72mi	3/2.0	1,640 (+6%)	1mo	$88,000	$54	54
1214 S 12th St	0.69mi	2/2.0 (-1)	1,592 (+2%)	6mo	$89,000	$56	52
1313 Harrison Dr	0.45mi	4/1.5 (+1)	1,392 (-10%)	7mo	$94,000	$68	47
1028 15th Ave S	0.62mi	2/1.5 (-1)	1,586 (+2%)	18mo	$124,000	$78	44
1043 14th Ave S	0.64mi	2/2.0 (-1)	1,359 (-12%)	5mo	$130,000	$96	38
2419 S 18th St	0.65mi	3/2.0	1,682 (+8%)	20mo	$140,000	$83	38
1148 Briarcliff Ln	0.74mi	3/1.0	1,332 (-14%)	10mo	$85,000	$64	28

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: -7.2%
• Equity multiple: 0.73×
• Total profit: $-11,066
• Equity at exit: $22,216

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $7,174
• Equity at exit: $12,883

Cash invested: $41,720 (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 52732

• Home prices YoY: -34.9%
• Active inventory: 247
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $206

Break-even live

Break-even rent $1,234

Max offer price $149,000

Occupancy floor 81%

Sensitivity live

Price	-10% $290	-5% $248	+0% $206	+5% $163	+10% $121
Rent	-10% $88	-5% $147	+0% $206	+5% $265	+10% $324
Rate	-1.0pp $281	-0.5pp $243	base $206	+0.5pp $167	+1.0pp $128

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1006 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	1.42mi
1004 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	45d	1	1.43mi
1008 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	1.43mi
1002 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	45d	1	1.43mi

Listing history 12 events

1. 2026-05-03
   status Pending 698-char remark
2. 2026-04-29
   listed $149,000 Active 698-char remark
3. 2021-08-06
   historical
4. 2012-08-31
   soldstatus $72,000

   Show marketing remark (257 chars)

   Well maintained 3 bedroom home. Clean and ready to move into. 2.5 baths with spacious living room, wood burning fireplace. new gutters and down spouts, interior freshly painted, new electical service and breaker box. Attatched garage, alley. Clean and Neat!

5. 2012-08-31
   soldstatus $72,000

   Show marketing remark (257 chars)

   Well maintained 3 bedroom home. Clean and ready to move into. 2.5 baths with spacious living room, wood burning fireplace. new gutters and down spouts, interior freshly painted, new electical service and breaker box. Attatched garage, alley. Clean and Neat!

6. 2012-07-02
   listed $79,900

   Show marketing remark (257 chars)

   Well maintained 3 bedroom home. Clean and ready to move into. 2.5 baths with spacious living room, wood burning fireplace. new gutters and down spouts, interior freshly painted, new electical service and breaker box. Attatched garage, alley. Clean and Neat!

7. 2012-07-02
   listed $79,900

   Show marketing remark (257 chars)

   Well maintained 3 bedroom home. Clean and ready to move into. 2.5 baths with spacious living room, wood burning fireplace. new gutters and down spouts, interior freshly painted, new electical service and breaker box. Attatched garage, alley. Clean and Neat!

8. 2011-07-18
   soldstatus $59,500
9. 2011-07-15
   soldstatus $60,000
10. 2011-07-15
    soldstatus $60,000
11. 2011-03-26
    listed $65,000
12. 2011-03-26
    listed $65,000

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,957 · $163/mo
• Expected delta: +$383/yr (+$32/mo · 24.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,926
• − Mortgage interest: −$8,346
• − Property taxes: −$1,574
• − Insurance: −$745
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$4,335
• Taxable income: $58
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $2,452/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: Clinton Community School District
• NCES district ID: 1907710
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $40,900
• Composite: 45.22/100
• National rank: #2666
• State rank: #273 of 289 in IA

Livability — Clinton

• Score: 75/100
• State rank: #222
• US rank: #4192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IA
• County: Clinton County · 25,880 people
• City population: 25,880
• Metro: Clinton, IA
• Population (ZIP): 25,880
• Household income: $61,105
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 889.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.23%
• Current HPI: 155.3426
• Rent YoY: —
• Metro: Clinton, 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

+129.2% since first listed

13 events — show timeline

• 2026-06-18 Sold (MLS) $149,000 MRED as Distributed by MLS Grid
• 2026-05-03 Pending — MRED as Distributed by MLS Grid
• 2026-04-29 Listed $149,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2012-08-31 Sold (MLS) $72,000 MRED as Distributed by MLS Grid
• 2012-08-31 Sold (MLS) $72,000 RMLSA as Distributed by MLS Grid
• 2012-07-02 Listed $79,900 MRED as Distributed by MLS Grid
• 2012-07-02 Listed $79,900 RMLSA as Distributed by MLS Grid
• 2011-07-18 Sold (Public Records) $59,500 Public Records
• 2011-07-15 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2011-07-15 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2011-03-26 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2011-03-26 Listed $65,000 MRED as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2025): $1,574 · +1.8% YoY. Source: county tax records.