922 Mamie Eisenhower Ave · Boone, IA 50036

$119,900

4 bd · 2.5 ba · 1,811 sqft · SingleFamily public records · 83 Days on market

Built 1890 4,500 sqft lot $66/sqft · 40% below area Est $200k · 40% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 2-bath home with great potential! This property features an updated kitchen, convenient first-floor laundry, and a functional layout with plenty of room to grow. The enclosed yard offers privacy and space for outdoor enjoyment. With a few cosmetic updates, this home presents a great opportunity to build equity and make it your own. Located close to downtown, providing easy access to shopping, dining, and community amenities. Don't miss the chance to add your personal touch and create a home that fits your style!

Key facts

• Outdoor enjoyment
• Updated kitchen
• First-floor laundry

Tags

• UPDATED KITCHEN
• FIRST-FLOOR LAUNDRY
• ENCLOSED YARD
• OUTDOOR ENJOYMENT
• CLOSE TO DOWNTOWN
• EASY ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.6% in Boone — 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 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 215 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 26% 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 $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 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. 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: 1.43% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.45%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (median comp): $200,337
• List price: $119,900
• Delta: -40.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Marshall St	0.16mi	4/2.0	1,789 (-1%)	1mo	$246,000	$138	88
722 Mamie Eisenhower Ave	0.17mi	4/2.5	1,697 (-6%)	1mo	$202,000	$119	80
107 Marshall St	0.18mi	5/1.5 (+1)	1,908 (+5%)	1mo	$120,000	$63	73
309 S Boone St	0.42mi	4/1.5	1,710 (-6%)	1mo	$207,000	$121	66
816 Carroll St	0.45mi	3/1.5 (-1)	1,732 (-4%)	2mo	$192,000	$111	61
244 S Boone St	0.39mi	3/2.0 (-1)	1,668 (-8%)	3mo	$215,000	$129	59
1115 Garst Ave	0.35mi	3/2.0 (-1)	1,600 (-12%)	3mo	$230,000	$144	55
522 Linn St	0.34mi	4/3.0	1,554 (-14%)	4mo	$310,000	$199	55
1632 Mamie Eisenhower Ave	0.66mi	4/2.0	1,647 (-9%)	2mo	$169,000	$103	50
427 11th St	0.68mi	3/2.0 (-1)	1,680 (-7%)	2mo	$165,000	$98	48
1427 Garst Ave	0.55mi	3/3.0 (-1)	1,602 (-12%)	3mo	$282,500	$176	45
1116 Linn St	0.62mi	3/1.0 (-1)	1,652 (-9%)	1mo	$99,000	$60	44

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $13,478
• Equity at exit: $17,877

10-year hold

• IRR: 19.3%
• Equity multiple: 2.61×
• Total profit: $54,193
• Equity at exit: $10,367

Cash invested: $33,572 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 215
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,711 high
• Mortgage (P&I): −$629
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $516

Break-even live

Break-even rent $1,058

Max offer price $119,900

Occupancy floor 65%

Sensitivity live

Price	-10% $584	-5% $550	+0% $516	+5% $482	+10% $448
Rent	-10% $381	-5% $449	+0% $516	+5% $584	+10% $651
Rate	-1.0pp $577	-0.5pp $547	base $516	+0.5pp $485	+1.0pp $454

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1318 SE Linn St Boone, IA	3.0	2.0	1896	$1,695	$0.89	44d	1	0.60mi
1428 Story St Boone, IA	4.0	3.0	1900	$2,000	$1.05	44d	1	0.82mi
411 W 9th St Boone, IA	3.0	2.0	1275	$1,100	$0.86	44d	1	1.08mi
1109 Ida Pl Boone, IA	3.0	2.5	1715	$1,950	$1.14	44d	1	1.08mi
1208 S Linn St Boone, IA	3.0	2.5	1449	$1,800	$1.24	44d	1	1.14mi
680 S Marion St Boone, IA	2.0–3.0	1.0–2.0	1042	$1,295	$1.24	14d	37	1.32mi

Listing history 33 events

1. 2026-06-18
   days on market $119,900 Active 83 DOM
2. 2026-06-17
   days on market $119,900 Active 82 DOM
3. 2026-06-16
   days on market $119,900 Active 81 DOM
4. 2026-06-15
   days on market $119,900 Active 80 DOM
5. 2026-06-13
   days on market $119,900 Active 78 DOM
6. 2026-06-12
   remarks 557-char remark
7. 2026-06-12
   pricedays on market $119,900 Active 77 DOM
8. 2026-06-09
   days on market $129,900 Active 74 DOM
9. 2026-06-08
   days on market $129,900 Active 73 DOM
10. 2026-06-07
    days on market $129,900 Active 72 DOM
11. 2026-06-05
    days on market $129,900 Active 70 DOM
12. 2026-06-04
    days on market $129,900 Active 68 DOM
13. 2026-06-02
    days on market $129,900 Active 67 DOM
14. 2026-06-01
    days on market $129,900 Active 66 DOM
15. 2026-05-31
    days on market $129,900 Active 65 DOM
16. 2026-05-31
    days on market $129,900 Active 64 DOM
17. 2026-04-27
    price $139,900 537-char remark

    Show marketing remark (537 chars)

    Spacious 4-bedroom, 2-bath home with great potential! This property features an updated kitchen, convenient first-floor laundry, and a functional layout with plenty of room to grow. The enclosed yard offers privacy and space for outdoor enjoyment. With a few cosmetic updates, this home presents a great opportunity to build equity and make it your own. Located close to downtown, providing easy access to shopping, dining, and community amenities. Don't miss the chance to add your personal touch and create a home that fits your style!

18. 2026-03-27
    listed $149,900 Active 537-char remark

    Show marketing remark (537 chars)

    Spacious 4-bedroom, 2-bath home with great potential! This property features an updated kitchen, convenient first-floor laundry, and a functional layout with plenty of room to grow. The enclosed yard offers privacy and space for outdoor enjoyment. With a few cosmetic updates, this home presents a great opportunity to build equity and make it your own. Located close to downtown, providing easy access to shopping, dining, and community amenities. Don't miss the chance to add your personal touch and create a home that fits your style!

19. 2025-12-05
    historical
20. 2025-10-13
    price $159,000
21. 2025-10-13
    price $159,000
22. 2025-09-18
    listed $165,000 Active
23. 2022-08-02
    soldstatus $95,000 Closed
24. 2022-08-02
    soldstatus $95,000
25. 2022-06-29
    status Pending
26. 2022-06-28
    price $95,000
27. 2022-06-20
    price $99,900
28. 2022-06-17
    listed $105,900 Active
29. 2022-06-17
    listed $95,000
30. 2016-11-10
    soldstatus $63,000
31. 2016-11-10
    soldstatus $63,000
32. 2016-05-31
    listed $68,000
33. 2015-08-14
    listed $59,000

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $20,535
• − Mortgage interest: −$6,716
• − Property taxes: −$1,884
• − Insurance: −$600
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$3,488
• Taxable income: $4,562
• Est. tax owed @ 24.0%: −$1,095
• After-tax cash flow: $5,099/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

+137.1% since first listed

17 events — show timeline

• 2026-04-27 Price Changed $139,900 CIBOR
• 2026-03-27 Listed $149,900 CIBOR
• 2025-12-05 Listing Removed — DMMLS
• 2025-10-13 Price Changed $159,000 CIBOR
• 2025-10-13 Price Changed $159,000 DMMLS
• 2025-09-18 Listed $165,000 DMMLS
• 2022-08-02 Sold (MLS) $95,000 CIBOR
• 2022-08-02 Sold (MLS) $95,000 DMMLS
• 2022-06-29 Pending — DMMLS
• 2022-06-28 Price Changed $95,000 DMMLS
• 2022-06-20 Price Changed $99,900 DMMLS
• 2022-06-17 Listed $95,000 CIBOR
• 2022-06-17 Listed $105,900 DMMLS
• 2016-11-10 Sold (Public Records) $63,000 Public Records
• 2016-11-10 Sold (MLS) $63,000 CIBOR
• 2016-05-31 Listed $68,000 CIBOR
• 2015-08-14 Listed $59,000 CIBOR

Property tax history

+2.5%/yr

Latest (2025): $1,884 · +3.9% YoY. Source: county tax records.