302 Long Ave · Lost Nation, IA 52254

$79,000

2 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 30 Days on market

Built 1890 2,178 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +5.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, washer, dryer included. Your house payment would be less than rent! Take a look today.

Key facts

• Near local amenities
• 2,178 sq ft lot
• Built 1890

Tags

• FLEXIBLE LIVING SPACE
• IMMEDIATE RENTAL INCOME
• NEAR LOCAL AMENITIES

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: On-street parking
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Vinyl siding; Metal siding; Frame construction
• Exterior features: Patio; Sidewalks

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane forced-air heating; Central air conditioning
• Interior features: Other interior features; Partial basement
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#757 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: amenities F, commute F, employment D-.
• Midland Community School District (rural): math 57% / reading 66% proficiency, ranked #231 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Midland Elementary (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 205 students, 51% FRL); Midland Middle/High School (math 56% / reading 67%, grade B-, #255 of 336 statewide, top 76%, 303 students, 52% FRL).
• Market conditions: 5 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 $4k of equity ($546 loan paydown + $3k appreciation (4.1% 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 (4.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $60k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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?
4. 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.
5. 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.
6. 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: 1.38% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.82%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.64×
• Total profit: $36,188
• Equity at exit: $40,398

10-year hold

• IRR: 27.0%
• Equity multiple: 5.18×
• Total profit: $92,464
• Equity at exit: $66,349

Cash invested: $22,120 (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 52254

• Home prices YoY: 2.9%
• Active inventory: 5
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,087 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$65 /mo · $778/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $347

Break-even live

Break-even rent $648

Max offer price $79,000

Occupancy floor 63%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $79,000 Active 30 DOM
2. 2026-06-17
   days on market $79,000 Active 29 DOM
3. 2026-06-16
   days on market $79,000 Active 28 DOM
4. 2026-06-15
   days on market $79,000 Active 27 DOM
5. 2026-06-13
   days on market $79,000 Active 25 DOM
6. 2026-06-12
   days on market $79,000 Active 24 DOM
7. 2026-06-09
   days on market $79,000 Active 21 DOM
8. 2026-06-08
   days on market $79,000 Active 20 DOM
9. 2026-06-07
   days on market $79,000 Active 19 DOM
10. 2026-06-05
    days on market $79,000 Active 17 DOM
11. 2026-06-04
    days on market $79,000 Active 15 DOM
12. 2026-06-02
    days on market $79,000 Active 14 DOM
13. 2026-06-01
    days on market $79,000 Active 13 DOM
14. 2026-05-31
    days on market $79,000 Active 12 DOM
15. 2026-05-31
    days on market $79,000 Active 11 DOM
16. 2026-05-15
    listed $79,000 Active
17. 2025-02-04
    soldstatus $60,000
18. 2025-01-31
    soldstatus $60,000 Closed 330-char remark

    Show marketing remark (330 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, washer, dryer included. Your house payment would be less than rent! Take a look today.

19. 2025-01-07
    status Pending 330-char remark

    Show marketing remark (330 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, washer, dryer included. Your house payment would be less than rent! Take a look today.

20. 2024-11-27
    price $61,999 330-char remark

    Show marketing remark (330 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, washer, dryer included. Your house payment would be less than rent! Take a look today.

21. 2024-10-21
    listed $64,999 Active 330-char remark

    Show marketing remark (330 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, washer, dryer included. Your house payment would be less than rent! Take a look today.

22. 2023-11-29
    soldstatus $57,000
23. 2023-11-22
    soldstatus $57,000 Closed 322-char remark

    Show marketing remark (322 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, dryer included. Your house payment would be less than rent! Take a look today.

24. 2023-10-09
    status Pending 322-char remark

    Show marketing remark (322 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, dryer included. Your house payment would be less than rent! Take a look today.

25. 2023-09-07
    listed $59,000 Active 322-char remark

    Show marketing remark (322 chars)

    Great 2-3 bedroom starter home or investment property. Small town living close to post office, restaurant, library. Featuring new breaker panel, water heater, carpet, metal roof, some bathroom fixtures. Off street parking, Stove, refrigerator, dryer included. Your house payment would be less than rent! Take a look today.

ⓘ 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: $778 · $65/mo
• Projected year-2 tax: $1,009 · $84/mo
• Expected delta: +$231/yr (+$19/mo · 29.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,047
• − Mortgage interest: −$4,425
• − Property taxes: −$778
• − Insurance: −$395
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$2,298
• Taxable income: $3,063
• Est. tax owed @ 24.0%: −$735
• After-tax cash flow: $3,427/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: Midland Community School District
• NCES district ID: 1919200
• Math proficiency: 57% ▼ -8.00%
• Reading proficiency: 66% ▼ -5.00%
• Median HH income: $48,981
• Composite: 52.19/100
• National rank: #1607
• State rank: #231 of 289 in IA

Livability — Lost Nation

• Score: 61/100
• State rank: #757
• US rank: #17416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lost Nation, IA
• Population (ZIP): 1,000

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 (88%)
• Race & ethnicity: White 88% Two or more races 12% Hispanic / Latino 9%
• Common ancestry: Iranian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 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: ▲ 4.07%
• Current HPI: 143.831
• 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

+33.9% since first listed

10 events — show timeline

• 2026-05-15 Listed $79,000 ICAARMLS
• 2025-02-04 Sold (Public Records) $60,000 Public Records
• 2025-01-31 Sold (MLS) $60,000 ECIMLS
• 2025-01-07 Pending — ECIMLS
• 2024-11-27 Price Changed $61,999 ECIMLS
• 2024-10-21 Listed $64,999 ECIMLS
• 2023-11-29 Sold (Public Records) $57,000 Public Records
• 2023-11-22 Sold (MLS) $57,000 ECIMLS
• 2023-10-09 Pending — ECIMLS
• 2023-09-07 Listed $59,000 ECIMLS

Property tax history

+21.5%/yr

Latest (2025): $778 · +14.7% YoY. Source: county tax records.