211 Jones St

Le Claire, IA 52753

$125,000A-

2 bd · 1.0 ba · 660 sqft · Built 1939 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,123/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $883/mo
• Annual: $10,597/yr
• Cap rate: 14.77%
• Cash-on-cash: 30.28%
• DSCR: 2.35
• 1% rule: 1.70%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $883 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• It's been on market 27 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#256 in IA, #4,947 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Pleasant Valley Community School District (suburban): math 87% / reading 85% proficiency, ranked #5 of 289 in IA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 80 active listings in the ZIP; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• Scott County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.8% vs local median 4.6% in Le Claire — 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.

Questions for listing agent

• Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.
• 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.
• 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.