228 S 2nd St · Le Claire, IA 52753

$260,000

4 bd · 1.0 ba · 1,469 sqft · SingleFamily public records · 77 Days on market

Built 1900 8,460 sqft lot $177/sqft · 14% above area Est $257k · at est.

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Why this score? — see what drove the F 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).

• Schools +7.6/10.0
• Cash flow +7.3/30.0
• ARV discount +7.0/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location, location! Come check out this historic 4-bedroom, 2-story LeClaire home with a river view! You will love being close to LeClaire's thriving downtown area, where you can shop and dine! Located in the Pleasant Valley School District, this charming home boasts a living room, dining room, kitchen, and bedroom on the main level, and three bedrooms on the upper level. There is also a one-car garage and an outbuilding. Don't miss your chance to see this gem! Schedule your showing today.

Key facts

• 8,460 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-352 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (40.4% below list).
• Recommended offer: $155k (40.4% below list) — sets the bar for 1% rule.

Location & tenants

• 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.
• Market conditions: 80 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Scott County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,000 (40.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• GRM: 14.0

CMA / ARV

• ARV (median comp): $257,335
• List price: $260,000
• Delta: 1.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Dodge St	0.05mi	3/2.0 (-1)	1,614 (+10%)	7mo	$334,900	$207	66
223 S 8th St	0.38mi	4/3.0	1,400 (-5%)	7mo	$352,000	$251	61
414 S 2nd St	0.11mi	3/2.0 (-1)	1,604 (+9%)	14mo	$345,000	$215	59
217 N 8th St	0.45mi	3/2.0 (-1)	1,529 (+4%)	8mo	$240,000	$157	57
401 N 8th St	0.62mi	4/3.0	1,526 (+4%)	7mo	$420,000	$275	51
607 Reynolds St	0.39mi	5/3.5 (+1)	1,334 (-9%)	3mo	$375,000	$281	49
11 Musket Ct	0.71mi	5/3.0 (+1)	1,483 (+1%)	10mo	$392,000	$264	43
702 Titus Ct	0.34mi	3/3.0 (-1)	1,633 (+11%)	12mo	$415,000	$254	43
127 Walnut St	0.71mi	3/2.0 (-1)	1,646 (+12%)	6mo	$272,500	$166	33
903 Wild West Dr	0.66mi	3/2.0 (-1)	1,683 (+15%)	6mo	$386,000	$229	31
1216 Wisconsin St	0.73mi	3/2.0 (-1)	1,664 (+13%)	12mo	$250,000	$150	25
1004 Wild West Dr	0.70mi	5/3.0 (+1)	1,669 (+14%)	10mo	$450,000	$270	23

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: -26.3%
• Equity multiple: 0.11×
• Total profit: $-64,669
• Equity at exit: $38,767

10-year hold

• IRR: -23.6%
• Equity multiple: -0.18×
• Total profit: $-85,644
• Equity at exit: $22,480

Cash invested: $72,800 (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 52753

• Home prices YoY: -31.0%
• Active inventory: 80
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-352

Break-even live

Break-even rent $1,996

Max offer price $197,799

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
603 Cherry Street Ct Port Byron, IL	3.0	1.0	1000	$1,550	$1.55	14d	1	1.18mi

Listing history 24 events

1. 2026-06-18
   days on market $260,000 Active 77 DOM
2. 2026-06-17
   days on market $260,000 Active 76 DOM
3. 2026-06-16
   days on market $260,000 Active 75 DOM
4. 2026-06-15
   days on market $260,000 Active 74 DOM
5. 2026-06-14
   days on market $260,000 Active 72 DOM
6. 2026-06-13
   days on market $260,000 Active 71 DOM
7. 2026-06-10
   days on market $260,000 Active 69 DOM
8. 2026-06-09
   days on market $260,000 Active 68 DOM
9. 2026-06-08
   days on market $260,000 Active 67 DOM
10. 2026-06-07
    days on market $260,000 Active 66 DOM
11. 2026-06-05
    days on market $260,000 Active 63 DOM
12. 2026-06-03
    days on market $260,000 Active 62 DOM
13. 2026-06-02
    days on market $260,000 Active 61 DOM
14. 2026-06-01
    days on market $260,000 Active 60 DOM
15. 2026-05-31
    days on market $260,000 Active 59 DOM
16. 2026-05-30
    days on market $260,000 Active 58 DOM
17. 2026-04-02
    listed $260,000 Active 504-char remark

    Show marketing remark (504 chars)

    Location, location, location! Come check out this historic 4-bedroom, 2-story LeClaire home with a river view! You will love being close to LeClaire's thriving downtown area, where you can shop and dine! Located in the Pleasant Valley School District, this charming home boasts a living room, dining room, kitchen, and bedroom on the main level, and three bedrooms on the upper level. There is also a one-car garage and an outbuilding. Don't miss your chance to see this gem! Schedule your showing today.

18. 2026-04-02
    historical

    Show marketing remark (504 chars)

    Location, location, location! Come check out this historic 4-bedroom, 2-story LeClaire home with a river view! You will love being close to LeClaire's thriving downtown area, where you can shop and dine! Located in the Pleasant Valley School District, this charming home boasts a living room, dining room, kitchen, and bedroom on the main level, and three bedrooms on the upper level. There is also a one-car garage and an outbuilding. Don't miss your chance to see this gem! Schedule your showing today.

19. 2026-01-18
    status Active
20. 2026-01-14
    historical
21. 2026-01-08
    status Active
22. 2026-01-06
    historical
23. 2026-01-05
    historical
24. 2025-10-10
    listed Active

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $2,670 · $222/mo
• Expected delta: +$1,412/yr (+$118/mo · 112.3%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$14,564
• − Property taxes: −$1,258
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$7,564
• Taxable loss: −$9,061
• Est. tax savings @ 24.0%: +$2,175
• After-tax cash flow: $-2,051/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: Pleasant Valley Community School District
• NCES district ID: 1923110
• Math proficiency: 87% ▼ -4.00%
• Reading proficiency: 85% ▼ -2.00%
• Median HH income: $80,716
• Composite: 75.59/100
• National rank: #130
• State rank: #5 of 289 in IA

Livability — Le Claire

• Score: 74/100
• State rank: #256
• US rank: #4947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Le Claire, IA
• Population (ZIP): 6,111

Population outlook (Scott County) Hauer SSP2

• Today (2025): 188,878 people
• By 2030: 196,648 · +4.1%
• By 2040: 210,860 · +11.6%
• By 2050: 224,359 · +18.8%
• By 2075: 258,884 · +37.1%
• By 2100: 286,447 · +51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Serbian 3% Italian 3% Slovak 2%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Scott

• 2024 margin: Toss-up / Even · D 47.3% · R 51.2% · Other 1.4%
• 2008→2024 swing: -18.4pp toward R · 2008: 14.6pp · 2024: -3.9pp
• All cycles: 2024: R+3.9 2020: D+3.5 2016: D+1.4 2012: D+13.8 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.47%
• Current HPI: 203.798
• 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

8 events — show timeline

• 2026-04-02 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-02 Listed $260,000 MRED as Distributed by MLS Grid
• 2026-01-18 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
• 2025-10-10 Listed — RMLSA as Distributed by MLS Grid

Property tax history

-1.3%/yr

Latest (2025): $1,258 · +1.1% YoY. Source: county tax records.