801 E Marion St · Knoxville, IA 50138

$159,900

3 bd · 2.0 ba · 1,594 sqft · MultiFamily public records · 60 Days on market

Built 1920 0.73 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to this updated 3-bedroom, 1.5-bath property offering both charm and modern comfort! Enjoy peace of mind with new flooring throughout the home along with fresh paint in every room, creating a bright and inviting atmosphere. Step inside to discover a spacious living area perfect for relaxing or entertaining. Just off 2nd front entrance closest to garage, a versatile front room provides the ideal space for a mudroom/drop zone, home office, or flex area to fit your lifestyle. The kitchen features stainless steel appliances with new slide in range, a center island, blue cabinetry, and a fresh, contemporary feel. The main floor includes a convenient bedroom connected to the updated full

Key facts

• Fresh paint
• Spacious living area
• New flooring

Tags

• NEW FLOORING
• FRESH PAINT
• SPACIOUS LIVING AREA
• VERSATILE FRONT ROOM
• STAINLESS STEEL APPLIANCES
• CENTER ISLAND

Property features AI

Finance

• Other: Lot dimensions approximately 99 x 319.5 (about 0.73 acres); Concrete road access

Exterior

• Parking: Detached one-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: R-3 zoning
• Construction: Vinyl siding; Asphalt/rolled/shingle roof; Unfinished basement
• Exterior features: Covered patio; Patio; Fire pit; Outdoor storage

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dining area; Window treatments
• Laundry & utility: Washer; Dryer (upper level laundry)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.4% in Knoxville — 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 69/100 on livability (#406 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Knoxville Community School District (town): math 62% / reading 63% proficiency, ranked #220 of 289 in IA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $160k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.97%
• DSCR: 1.80
• GRM: 6.2

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $16,772
• Equity at exit: $23,842

10-year hold

• IRR: 18.7%
• Equity multiple: 2.55×
• Total profit: $69,516
• Equity at exit: $13,825

Cash invested: $44,772 (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 50138

• Home prices YoY: -25.3%
• Active inventory: 100
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,144 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $670

Break-even live

Break-even rent $1,295

Max offer price $159,900

Occupancy floor 64%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,144
Total (2 units)			$2,144

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-05
   status $159,900 Pending 60 DOM
2. 2026-06-03
   days on market $159,900 Active 60 DOM
3. 2026-06-02
   days on market $159,900 Active 59 DOM
4. 2026-06-01
   days on market $159,900 Active 58 DOM
5. 2026-05-31
   days on market $159,900 Active 57 DOM
6. 2026-05-30
   days on market $159,900 Active 56 DOM
7. 2026-05-22
   status Active
8. 2026-02-17
   listed $174,900 Active
9. 2025-11-04
   soldstatus $60,000

ⓘ 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: $1,418 · $118/mo
• Projected year-2 tax: $1,964 · $164/mo
• Expected delta: +$546/yr (+$46/mo · 38.5%)

ⓘ 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 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,728
• − Mortgage interest: −$8,957
• − Property taxes: −$1,418
• − Insurance: −$800
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$4,652
• Taxable income: $5,785
• Est. tax owed @ 24.0%: −$1,389
• After-tax cash flow: $6,657/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: Knoxville Community School District
• NCES district ID: 1915840
• Math proficiency: 62% ▼ -6.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $49,594
• Composite: 53.11/100
• National rank: #1512
• State rank: #220 of 289 in IA

Livability — Knoxville

• Score: 69/100
• State rank: #406
• US rank: #8643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knoxville, IA
• County: Marion County · 25,533 people
• City population: 11,117
• Metro: Pella, IA
• Population (ZIP): 11,117
• Household income: $74,693
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 122.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 12% Portuguese 4% Italian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.37%
• Current HPI: 237.7055
• Rent YoY: —
• Metro: Pella, IA
• 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

+191.5% since first listed

3 events — show timeline

• 2026-05-22 Relisted — DMMLS
• 2026-02-17 Listed $174,900 DMMLS
• 2025-11-04 Sold (Public Records) $60,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,418 · -5.8% YoY. Source: county tax records.