1116 N 2nd St · Clinton, IA 52372

$39,900

4 bd · 4.0 ba · 3,013 sqft · SingleFamily public records · 48 Days on market

Built 1889 10,018 sqft lot $13/sqft · 83% below area ↓ 56% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +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

Listing remarks MLS

What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

Key facts

• Full basement
• 0.23 acre lot
• 2 garage spots

Tags

• UNFINISHED WALK UP ATTIC
• FULL BASEMENT
• DETACHED 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.4% vs local median 6.7% in Clinton — 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 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: 6 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($276 loan paydown + $1k appreciation (3.0% local appreciation)).
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.35% ✓
• Cap rate: 26.36%
• Cash-on-cash: 71.67%
• DSCR: 4.19
• GRM: 2.5

CMA / ARV

• ARV (median comp): $237,825
• List price: $39,900
• Delta: -83.22%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 N 2nd St	0.00mi	5/3.0 (+1)	3,013 (0%)	1mo	$46,500	$15	90
582 Breezy Point Dr	0.50mi	4/4.0	3,249 (+8%)	3mo	$410,000	$126	61
591 Breezypointe Dr	0.55mi	5/4.0 (+1)	2,752 (-9%)	3mo	$280,000	$102	52
1600 N 7th St	0.57mi	4/2.5	2,724 (-10%)	1mo	$225,000	$83	50
580 Worth Ct	0.64mi	4/3.0	3,049 (+1%)	20mo	$325,000	$107	48
515 Woodland Dr	0.52mi	4/4.5	3,420 (+14%)	7mo	$300,000	$88	45
1720 N 3rd St	0.57mi	4/1.5	2,790 (-7%)	16mo	$165,000	$59	38
760 Breezy Point Dr	0.67mi	4/3.0	2,791 (-7%)	20mo	$245,000	$88	36
760 Breezy Point Dr	0.67mi	4/3.0	2,791 (-7%)	20mo	$245,000	$88	36

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: 76.3%
• Equity multiple: 5.24×
• Total profit: $47,393
• Equity at exit: $17,941

10-year hold

• IRR: 75.9%
• Equity multiple: 10.78×
• Total profit: $109,289
• Equity at exit: $27,649

Cash invested: $11,172 (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 52372

• Active inventory: 6
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,338 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$164 /mo · $1,968/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $667

Break-even live

Break-even rent $493

Max offer price $39,900

Occupancy floor 45%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-15
   status Pending 463-char remark

   Show marketing remark (463 chars)

   What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

2. 2026-05-05
   status Active 463-char remark

   Show marketing remark (463 chars)

   What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

3. 2026-04-24
   status Pending 463-char remark

   Show marketing remark (463 chars)

   What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

4. 2026-04-20
   price $39,900 463-char remark

   Show marketing remark (463 chars)

   What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

5. 2026-03-17
   listed $89,900 Active 463-char remark

   Show marketing remark (463 chars)

   What. A. House! This 2 story home has an unfinished walk up attic, full basement, TONS of storage, and a detached 2 car garage! Located on North 2nd St in Clinton, this property has so much potential! House is being sold AS IS, where is. This property used to be 3 units, but was converted into a single family home. The character this house boasts is something you will have to experience for yourself! Call for your showing today! The possibilities are endless!

ⓘ 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: $1,968 · $164/mo
• Projected year-2 tax: $1,968 · $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 3/10 Moderate FEMA zone X · 20% 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: $16,057
• − Mortgage interest: −$2,235
• − Property taxes: −$1,968
• − Insurance: −$200
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$1,161
• Taxable income: $7,925
• Est. tax owed @ 24.0%: −$1,902
• After-tax cash flow: $6,105/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-55.6% since first listed

5 events — show timeline

• 2026-05-15 Pending — MRED as Distributed by MLS Grid
• 2026-05-05 Relisted — MRED as Distributed by MLS Grid
• 2026-04-24 Pending — MRED as Distributed by MLS Grid
• 2026-04-20 Price Changed $39,900 MRED as Distributed by MLS Grid
• 2026-03-17 Listed $89,900 MRED as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $1,968 · -10.1% YoY. Source: county tax records.