505 Main St · Luana, IA 52156

$179,000

2 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 25 Days on market

Built 1955 8,276 sqft lot

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

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Schools +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +1.1/10.0

Listing remarks MLS

Nice house in Luana. New roof in 2021.

Key facts

• Radon mitigation
• New carpet staircase
• Water heater

Tags

• LUXURY VINYL PLANK FLOORING
• NEW CARPET STAIRCASE
• ORIGINAL HARDWOOD FLOORS
• STAMPED CONCRETE PATIO
• RADON MITIGATION
• WATER HEATER

Property features AI

Finance

• Other: Zoned R-1
• HOA & community: Sidewalks

Exterior

• Parking: Has carport (2 spaces); Detached oversized heated garage with garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Multi/split levels
• Construction: Vinyl siding; Shingle/asphalt roof
• Exterior features: Patio; Level and irregular lot; Concrete road frontage

Interior

• Kitchen: Dishwasher; Disposal; Free-standing range; Refrigerator; Water softener; Water purifier
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Ceiling fan(s); Has basement (block, unfinished)
• Laundry & utility: Washer hookup on lower level; Electric dryer hookup; Gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (38.0% below list).
• Recommended offer: $111k (38.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#651 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Mfl Marmac Community School District (rural): math 62% / reading 68% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mfl Marmac Hs (math 67% / reading 77%, grade B+, #117 of 336 statewide, top 39%, 262 students, 31% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $125k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,030 (38.0% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.62% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.41%
• DSCR: 0.71
• GRM: 13.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.60×
• Total profit: $80,391
• Equity at exit: $161,257

10-year hold

• IRR: 18.1%
• Equity multiple: 5.99×
• Total profit: $250,074
• Equity at exit: $347,758

Cash invested: $50,120 (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 52156

• Home prices YoY: 6.9%
• Active inventory: 7
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,110 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$132 /mo · $1,580/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-268

Break-even live

Break-even rent $1,449

Max offer price $131,690

Occupancy floor —

Sensitivity live

Price	-10% $-166	-5% $-217	+0% $-268	+5% $-318	+10% $-369
Rent	-10% $-356	-5% $-312	+0% $-268	+5% $-224	+10% $-180
Rate	-1.0pp $-178	-0.5pp $-222	base $-268	+0.5pp $-314	+1.0pp $-361

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $179,000 Active 25 DOM
2. 2026-06-18
   days on market $179,000 Active 23 DOM
3. 2026-06-17
   days on market $179,000 Active 22 DOM
4. 2026-06-16
   days on market $179,000 Active 21 DOM
5. 2026-06-15
   days on market $179,000 Active 20 DOM
6. 2026-06-13
   days on market $179,000 Active 18 DOM
7. 2026-06-12
   days on market $179,000 Active 17 DOM
8. 2026-06-09
   days on market $179,000 Active 14 DOM
9. 2026-06-08
   days on market $179,000 Active 13 DOM
10. 2026-06-07
    days on market $179,000 Active 12 DOM
11. 2026-06-07
    days on market $179,000 Active 11 DOM
12. 2026-06-04
    days on market $179,000 Active 8 DOM
13. 2026-06-02
    days on market $179,000 Active 7 DOM
14. 2026-06-01
    days on market $179,000 Active 6 DOM
15. 2026-05-31
    days on market $179,000 Active 5 DOM
16. 2026-05-31
    days on market $179,000 Active 4 DOM
17. 2026-05-26
    listed $179,000 Active
18. 2022-09-09
    historical 38-char remark

    Show marketing remark (38 chars)

    Nice house in Luana. New roof in 2021.

19. 2022-09-09
    soldstatus $125,000 Closed 38-char remark

    Show marketing remark (38 chars)

    Nice house in Luana. New roof in 2021.

20. 2022-07-20
    listed $125,000 38-char remark

    Show marketing remark (38 chars)

    Nice house in Luana. New roof in 2021.

21. 2020-06-15
    soldstatus $103,000 167-char remark

    Show marketing remark (167 chars)

    Who would like the opportunity to own this great home in Luana, IA? This two bedroom, 1 bath home is located right in town and has great qualities from top to bottom.

22. 2019-09-09
    listed $113,000 167-char remark

    Show marketing remark (167 chars)

    Who would like the opportunity to own this great home in Luana, IA? This two bedroom, 1 bath home is located right in town and has great qualities from top to bottom.

23. 2014-12-05
    soldstatus $108,000
24. 2007-10-03
    soldstatus $93,000

ⓘ 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: $1,580 · $132/mo
• Projected year-2 tax: $2,195 · $183/mo
• Expected delta: +$615/yr (+$51/mo · 38.9%)

ⓘ 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 2/10 Low 7 d/yr ≥99°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: $13,324
• − Mortgage interest: −$10,027
• − Property taxes: −$1,580
• − Insurance: −$895
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$5,207
• Taxable loss: −$6,517
• Est. tax savings @ 24.0%: +$1,564
• After-tax cash flow: $-1,650/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: Mfl Marmac Community School District
• NCES district ID: 1918120
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 68% ▼ -3.00%
• Median HH income: $47,395
• Composite: 54.95/100
• National rank: #1305
• State rank: #198 of 289 in IA

Livability — Luana

• Score: 63/100
• State rank: #651
• US rank: #14974

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Luana, IA
• Population (ZIP): 795

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 16,656 people
• By 2030: 15,986 · -4.0%
• By 2040: 14,554 · -12.6%
• By 2050: 13,187 · -20.8%
• By 2075: 11,131 · -33.2%
• By 2100: 9,733 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Portuguese 27% Romanian 4%
• Languages at home: 93% English-only · Arabic 5% Korean 2%

Political lean MEDSL · Clayton

• 2024 margin: Solid R (+34.5) · D 32.2% · R 66.7% · Other 1.2%
• 2008→2024 swing: -51.7pp toward R · 2008: 17.2pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+28.8 2016: R+22.8 2012: D+6.9 2008: D+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.61%
• Current HPI: 194.9618
• 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

+92.5% since first listed

8 events — show timeline

• 2026-05-26 Listed $179,000 NEIRBR as distributed by MLS GRID
• 2022-09-09 Sold (MLS) $125,000 NEIRBR as distributed by MLS GRID
• 2022-09-09 Delisted — NEIRBR as distributed by MLS GRID
• 2022-07-20 Listed $125,000 NEIRBR as distributed by MLS GRID
• 2020-06-15 Sold (MLS) $103,000 NEIRBR as distributed by MLS GRID
• 2019-09-09 Listed $113,000 NEIRBR as distributed by MLS GRID
• 2014-12-05 Sold (Public Records) $108,000 Public Records
• 2007-10-03 Sold (Public Records) $93,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,580 · +4.6% YoY. Source: county tax records.