104 N Park Dr · Lone Tree, IA 52755

$98,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 8 Days on market

Built 2014 Good condition

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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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 2014 manufactured home offering over 1,500 square feet of comfortable living space. With 3 bedrooms, 2 full bathrooms, and numerous thoughtful updates, this property is truly move-in ready. Inside, you'll find a spacious and inviting floor plan featuring a large storage closet and updated kitchen appliances installed in 2023. The sunroom addition, completed in 2021/2022, provides the perfect space to relax year-round and is equipped with its own mini-split system for added comfort. Step outside and enjoy your morning coffee or evening gatherings on the newer deck, enhanced by a Sun Setter retractable shade added in 2025. A concrete patio offers ad

Key facts

• Newer deck
• Concrete patio
• Storm shelter

Tags

• UPDATED KITCHEN APPLIANCES
• SUNROOM ADDITION
• NEWER DECK
• CONCRETE PATIO
• STORM SHELTER
• FINISHED GARAGE

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Attached garage with 2 parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential mobile home; Single-story; Built by Clayton
• Construction: Vinyl siding and wood siding; Clayton construction
• Exterior features: Deck; Patio; Other exterior features; Lot is leased

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Ceiling fan(s) for cooling
• Interior features: Built-in bookcases; Storm windows; Smoke detector(s); Accessible entrance
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).

Location & tenants

• Location reads 80/100 on livability (#87 in IA, #1,818 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lone Tree Community School District (rural): math 57% / reading 67% proficiency, ranked #216 of 289 in IA (top 75%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $98,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.25% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $2,885
• Equity at exit: $14,612

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $26,726
• Equity at exit: $8,473

Cash invested: $27,440 (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 52755

• Home prices YoY: -28.7%
• Active inventory: 20
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $294

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 71%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $98,000 Active 8 DOM
2. 2026-06-18
   days on market $98,000 Active 7 DOM
3. 2026-06-17
   days on market $98,000 Active 6 DOM
4. 2026-06-16
   days on market $98,000 Active 5 DOM
5. 2026-06-15
   days on market $98,000 Active 4 DOM
6. 2026-06-14
   days on market $98,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $98,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,758
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$2,851
• Taxable income: $2,097
• Est. tax owed @ 24.0%: −$503
• After-tax cash flow: $3,029/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 2014 manufactured home is move-in ready with updated appliances and flooring, and a good exterior condition. A fresh coat of paint and updating the flooring would significantly enhance its resale and rental value.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Both update flooring in living areas — improves aesthetics and value
• Both install smart home devices — increases convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Both update flooring in living areas — improves aesthetics and value ↑
• Both install smart home devices — increases convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lone Tree Community School District
• NCES district ID: 1917550
• Math proficiency: 57% ▼ -2.00%
• Reading proficiency: 67% ▲ 7.00%
• Median HH income: $57,852
• Composite: 53.45/100
• National rank: #1462
• State rank: #216 of 289 in IA

Livability — Lone Tree

• Score: 80/100
• State rank: #87
• US rank: #1818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lone Tree, IA
• City population: 2,210
• Population (ZIP): 2,210

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 2% Italian 2% Slovak 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.71%
• Current HPI: 188.3987
• 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

1 event — show timeline

• 2026-06-11 Listed $98,000 ICAARMLS