408 Birnice · Marathon, IA 50565

$75,000

4 bd · 1.0 ba · 1,310 sqft · SingleFamily public records · 259 Days on market

Built 1900 1.77 ac lot Est $85k · 12% under ↓ 17% since listing

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Why this score? — see what drove the A 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 +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is a great opportunity to have country living with city water and city sewer. It is located in a very private area on the Eastside of Marathon. Has lots of potential. Property is sold as is condition with no warranties or expressed or implied.

Key facts

• 1.77 acre lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#817 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Laurens-Marathon Community School District (rural): math 55% / reading 55% proficiency, ranked #311 of 330 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 164 units permitted in Buena Vista County in 2024 (71 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Buena Vista County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.60% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.69%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $85,150
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 S Neptune St	0.24mi	4/1.0	1,302 (-1%)	10mo	$85,000	$65	80

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 4.26×
• Total profit: $68,386
• Equity at exit: $67,566

10-year hold

• IRR: 37.1%
• Equity multiple: 9.56×
• Total profit: $179,774
• Equity at exit: $145,709

Cash invested: $21,000 (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 50565

• Home prices YoY: 6.3%
• Active inventory: 3
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $432

Break-even live

Break-even rent $651

Max offer price $75,000

Occupancy floor 59%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $75,000 Active 259 DOM
2. 2026-06-17
   days on market $75,000 Active 258 DOM
3. 2026-06-16
   days on market $75,000 Active 257 DOM
4. 2026-06-15
   days on market $75,000 Active 256 DOM
5. 2026-06-13
   days on market $75,000 Active 254 DOM
6. 2026-06-12
   days on market $75,000 Active 253 DOM
7. 2026-06-09
   days on market $75,000 Active 250 DOM
8. 2026-06-08
   days on market $75,000 Active 249 DOM
9. 2026-06-07
   days on market $75,000 Active 248 DOM
10. 2026-06-05
    days on market $75,000 Active 246 DOM
11. 2026-06-04
    days on market $75,000 Active 244 DOM
12. 2026-06-02
    days on market $75,000 Active 243 DOM
13. 2026-06-01
    days on market $75,000 Active 242 DOM
14. 2026-05-31
    days on market $75,000 Active 241 DOM
15. 2026-05-31
    days on market $75,000 Active 240 DOM
16. 2026-05-07
    price $75,000 248-char remark

    Show marketing remark (248 chars)

    This is a great opportunity to have country living with city water and city sewer. It is located in a very private area on the Eastside of Marathon. Has lots of potential. Property is sold as is condition with no warranties or expressed or implied.

17. 2025-10-02
    listed $89,900 Active 248-char remark

    Show marketing remark (248 chars)

    This is a great opportunity to have country living with city water and city sewer. It is located in a very private area on the Eastside of Marathon. Has lots of potential. Property is sold as is condition with no warranties or expressed or implied.

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,129 · $94/mo
• Expected delta: +$49/yr (+$4/mo · 4.5%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $14,380
• − Mortgage interest: −$4,201
• − Property taxes: −$1,080
• − Insurance: −$375
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$2,182
• Taxable income: $4,241
• Est. tax owed @ 24.0%: −$1,018
• After-tax cash flow: $4,168/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: Laurens-Marathon Community School District
• NCES district ID: 1916420
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $42,146
• Composite: 48.0/100
• National rank: #4796
• State rank: #311 of 330 in IA

Livability — Marathon

• Score: 60/100
• State rank: #817
• US rank: #18784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marathon, IA
• Population (ZIP): 413

Population outlook (Buena Vista County) Hauer SSP2

• Today (2025): 20,775 people
• By 2030: 21,101 · +1.6%
• By 2040: 21,955 · +5.7%
• By 2050: 23,202 · +11.7%
• By 2075: 27,159 · +30.7%
• By 2100: 29,578 · +42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 11% Scotch-Irish 3% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Buena Vista

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: -1.8pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+25.6 2016: R+25.0 2012: R+10.4 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.25%
• Current HPI: 189.9157
• 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

-16.6% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $75,000 IAR
• 2025-10-02 Listed $89,900 IAR

Property tax history

+12.3%/yr

Latest (2025): $1,080 · +3.4% YoY. Source: county tax records.