602 S 9th St · Clinton, IA 52732

$130,000

3 bd · 2.0 ba · 2,030 sqft · SingleFamily public records · 17 Days on market

Built 1928 9,583 sqft lot $64/sqft · 22% below area Est $161k · 19% under ↓ 5% 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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.5/10.0
• 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

Step into timeless charm with this beautiful home situated on a desirable corner lot in Clinton. Rich in character and historic appeal, this spacious residence features four bedrooms, one and a half baths, generous closet space, built-in shelving, and a fireplace that serves as the heart of the family room. Original architectural details shine throughout, including arched front windows and refinished hardwood floors in all bedrooms. The main level offers a formal dining room, an inviting eat-in kitchen, and a bright four-season front porch perfect for relaxing year-round. The updated full bathroom features tile finishes that blend modern convenience with the home's historic character. Compl

Key facts

• Formal dining room
• Built-in shelving
• Corner lot

Tags

• CORNER LOT
• BUILT-IN SHELVING
• FIREPLACE
• ARCHED FRONT WINDOWS
• REFINISHED HARDWOOD FLOORS
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Living area reported as estimated; Approximately 1,966 finished square feet (total finished/unfinshed reported as 3,012); Basement area present (1,046 listed)
• Financial info: Financial details not provided
• HOA & community: No master association fee required

Exterior

• Parking: Parking details not provided
• Security: No security features specified
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2 stories; Facing direction not specified
• Construction: Stucco exterior; Block foundation; Metal and tile roof; Built approximately 91–100 years ago; Home was built before 1978
• Exterior features: Corner lot; Level lot; School bus service

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Tile flooring in kitchen
• Bedrooms: 4 bedrooms (master and three additional bedrooms on second level)
• Flooring: Hardwood flooring in bedrooms; Carpet in living room; Luxury vinyl in dining room; Tile in kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Heated sun room; Family room with fireplace; Living room; Dining room; Cellar basement
• Laundry & utility: Washer; Dryer; Dedicated laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $899 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 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 3y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.15% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (median comp): $161,093
• List price: $130,000
• Delta: -25.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
626 Argyle Ct	0.09mi	4/2.0 (+1)	1,830 (-10%)	1mo	$145,000	$79	74
1228 Caroline Ave	0.43mi	3/1.5	1,919 (-6%)	0mo	$189,900	$99	69
1202 14th Ave S	0.68mi	3/1.5	1,990 (-2%)	7mo	$151,000	$76	57
910 2nd Ave S	0.38mi	4/2.5 (+1)	2,262 (+11%)	1mo	$226,000	$100	55
413 Ruth Pl	0.51mi	3/1.5	1,832 (-10%)	8mo	$130,000	$71	51
704 9th Ave S	0.39mi	3/1.0	1,740 (-14%)	5mo	$37,500	$22	50
1125 Briarcliff Ln	0.51mi	2/1.5 (-1)	1,756 (-14%)	0mo	$164,700	$94	47
254 S 14th St	0.63mi	3/2.5	1,936 (-5%)	22mo	$199,900	$103	43
1200 Woodlawn Ave	0.35mi	2/2.5 (-1)	1,766 (-13%)	17mo	$245,000	$139	41
215 Myra Pl	0.54mi	3/2.0	1,787 (-12%)	23mo	$215,000	$120	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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-5,359
• Equity at exit: $19,383

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $15,683
• Equity at exit: $11,240

Cash invested: $36,400 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$198 /mo · $2,380/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $246

Break-even live

Break-even rent $1,183

Max offer price $130,000

Occupancy floor 79%

Sensitivity live

Price	-10% $320	-5% $283	+0% $246	+5% $209	+10% $172
Rent	-10% $128	-5% $187	+0% $246	+5% $305	+10% $364
Rate	-1.0pp $311	-0.5pp $279	base $246	+0.5pp $212	+1.0pp $178

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1004 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	44d	1	0.78mi
1002 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	44d	1	0.78mi
1006 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	44d	1	0.78mi
1008 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	44d	1	0.79mi

Listing history 50 events

1. 2026-06-19
   days on market $130,000 Active 17 DOM
2. 2026-06-18
   days on market $130,000 Active 16 DOM
3. 2026-06-17
   days on market $130,000 Active 15 DOM
4. 2026-06-16
   days on market $130,000 Active 14 DOM
5. 2026-06-15
   days on market $130,000 Active 13 DOM
6. 2026-06-14
   days on market $130,000 Active 11 DOM
7. 2026-06-12
   days on market $130,000 Active 10 DOM
8. 2026-06-09
   days on market $130,000 Active 7 DOM
9. 2026-06-08
   days on market $130,000 Active 6 DOM
10. 2026-06-07
    days on market $130,000 Active 5 DOM
11. 2026-06-07
    days on market $130,000 Active 4 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    pricedays on marketlisting id $130,000 Active 1 DOM
14. 2026-05-06
    historical
15. 2026-03-28
    price
16. 2026-03-08
    price
17. 2026-02-06
    listed Active
18. 2026-02-06
    historical
19. 2026-01-15
    status Active
20. 2026-01-14
    historical
21. 2026-01-08
    status Active
22. 2026-01-06
    historical
23. 2026-01-05
    historical
24. 2026-01-02
    status Active
25. 2026-01-02
    historical
26. 2025-12-30
    price
27. 2025-12-30
    price
28. 2025-12-27
    price
29. 2025-12-17
    historical
30. 2025-12-17
    historical
31. 2025-12-07
    listed Active
32. 2025-12-05
    historical
33. 2025-11-13
    price
34. 2025-10-20
    historical
35. 2025-10-19
    listed Active
36. 2025-10-19
    listed Active
37. 2025-03-19
    historical
38. 2025-03-18
    historical
39. 2025-02-01
    listed Active
40. 2025-01-31
    historical
41. 2025-01-30
    historical
42. 2025-01-10
    price
43. 2024-12-18
    price
44. 2024-11-19
    listed Active
45. 2023-11-06
    soldstatus $123,000
46. 2023-11-03
    soldstatus $123,000
47. 2023-11-03
    soldstatus $123,000 Closed
48. 2023-09-28
    historical Under Contract
49. 2023-09-22
    status Active
50. 2023-09-21
    historical Under Contract

ⓘ 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: $2,380 · $198/mo
• Projected year-2 tax: $2,380 · $198/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 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: −$7,282
• − Property taxes: −$2,380
• − Insurance: −$650
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$3,782
• Taxable income: $964
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,720/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

-5.3% since first listed

49 events — show timeline

• 2026-05-24 Relisted — MRED as Distributed by MLS Grid
• 2026-05-24 Relisted — MRED as Distributed by MLS Grid
• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-05-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-28 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-08 Price Changed — MRED as Distributed by MLS Grid
• 2026-02-06 Listed — MRED as Distributed by MLS Grid
• 2026-02-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-15 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
• 2026-01-02 Relisted — MRED as Distributed by MLS Grid
• 2026-01-02 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-30 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-30 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-07 Listed — RMLSA as Distributed by MLS Grid
• 2025-12-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-13 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-20 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-19 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-19 Listed — RMLSA as Distributed by MLS Grid
• 2025-03-19 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-03-18 Listing Removed — MRED as Distributed by MLS Grid
• 2025-02-01 Listed — RMLSA as Distributed by MLS Grid
• 2025-01-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-01-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-01-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-12-18 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-11-19 Listed — RMLSA as Distributed by MLS Grid
• 2023-11-06 Sold (Public Records) $123,000 Public Records
• 2023-11-03 Sold (MLS) $123,000 RMLSA as Distributed by MLS Grid
• 2023-11-03 Sold (MLS) $123,000 MRED as Distributed by MLS Grid
• 2023-09-28 Contingent — RMLSA as Distributed by MLS Grid
• 2023-09-22 Relisted — RMLSA as Distributed by MLS Grid
• 2023-09-21 Contingent — RMLSA as Distributed by MLS Grid
• 2023-08-21 Listed $129,900 RMLSA as Distributed by MLS Grid
• 2023-08-21 Listed $129,900 MRED as Distributed by MLS Grid
• 2022-10-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-10-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2014-04-30 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $2,380 · +44.1% YoY. Source: county tax records.