609 5th Ave S · Clinton, IA 52732

$119,900

4 bd · 2.0 ba · 2,252 sqft · SingleFamily public records · 94 Days on market

Built 1880 8,276 sqft lot Est $131k · 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 +23.5/30.0
• ARV discount +11.2/15.0
• DSCR +7.6/10.0
• 1% rule +6.8/10.0
• 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

Are you looking for space to sprawl out and call your own? This home boasts 2,400 square feet of living space! Built in 1880, the original character has been lovingly preserved throughout the years and the recent updates make this a clean, cozy, and charming home. The main level features a large kitchen with a space for a breakfast bar, and a walk in pantry. The flooring has been updated and like the rest of the home, the kitchen hosts fresh, neutral paint. The counters, cabinets, and sink are all brand new. Aside from the breakfast nook, this home also features a very spacious formal dining room. Off the dining room is an additional room which is currently a bedroom but could be converted

Key facts

• Brand new counters
• Brand new sink
• Large kitchen

Tags

• LARGE KITCHEN
• WALK IN PANTRY
• UPDATED FLOORING
• BRAND NEW COUNTERS
• BRAND NEW CABINETS
• BRAND NEW SINK

Property features AI

Exterior

• Parking: Detached garage with alley access; Gravel parking (2 total spaces)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 2-story
• Construction: Vinyl siding; Built more than 100 years ago; Home built before 1978
• Exterior features: Level lot; School bus service

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Separate dining room; Full, unfinished basement with cellar and egress window

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 6.7% in Clinton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: 246 active listings in the ZIP; 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 $829 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

• It's been on market 94 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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.
• Current owner paid $98k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.02%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $130,616
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 5th Ave S	0.00mi	4/2.0	2,424 (+8%)	2mo	$98,000	$40	86
631 5th Ave S	0.05mi	5/2.5 (+1)	2,323 (+3%)	6mo	$135,000	$58	80
910 2nd Ave S	0.50mi	4/2.5	2,262 (+0%)	1mo	$226,000	$100	73

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-5,076
• Equity at exit: $17,877

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $14,226
• Equity at exit: $10,367

Cash invested: $33,572 (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: 246
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$211 /mo · $2,536/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $224

Break-even live

Break-even rent $1,127

Max offer price $119,900

Occupancy floor 79%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-22
   listed $119,900 Active
2. 2026-05-22
   price $119,900
3. 2026-05-05
   soldstatus $98,000
4. 2026-04-30
   soldstatus Closed
5. 2026-03-24
   status Pending
6. 2026-02-23
   price $114,900
7. 2026-01-16
   status Active
8. 2026-01-14
   historical
9. 2026-01-08
   status Active
10. 2026-01-06
    historical
11. 2026-01-05
    historical
12. 2026-01-03
    price $119,900
13. 2025-12-09
    listed Active
14. 2021-08-06
    historical
15. 2008-06-19
    soldstatus $28,000
16. 2008-06-19
    soldstatus $28,000
17. 2008-02-27
    listed $29,900
18. 2008-02-27
    listed $29,900

ⓘ 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: $2,536 · $211/mo
• Projected year-2 tax: $2,536 · $211/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 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $16,929
• − Mortgage interest: −$6,716
• − Property taxes: −$2,536
• − Insurance: −$600
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$3,488
• Taxable income: $881
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $2,482/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

+301.0% since first listed

18 events — show timeline

• 2026-05-22 Listed $119,900 MRED as Distributed by MLS Grid
• 2026-05-22 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2026-05-05 Sold (Public Records) $98,000 Public Records
• 2026-04-30 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-03-24 Pending — MRED as Distributed by MLS Grid
• 2026-02-23 Price Changed $114,900 MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-03 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2025-12-09 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2008-06-19 Sold (MLS) $28,000 RMLSA as Distributed by MLS Grid
• 2008-06-19 Sold (MLS) $28,000 MRED as Distributed by MLS Grid
• 2008-02-27 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2008-02-27 Listed $29,900 MRED as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $2,536 · +1.4% YoY. Source: county tax records.