612 Hurst St · Delmar, IA 52037

$135,000

3 bd · 2.0 ba · 1,311 sqft · SingleFamily public records · 5 Days on market

Built 1904 $103/sqft · 23% above area Est $152k · 11% under

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Why this score? — see what drove the C+ 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 +14.8/30.0
• ARV discount +12.6/15.0
• Appreciation +10.0/10.0
• Schools +6.9/10.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable 3 BR, 2 BA home in Delmar with double lot, 2 car garage with work bench and peg board, charming open front porch, walk out basement, shed, newer furnace, insulation added, main floor bedroom/bath with walk in shower, patio. Beautifully landscaped, flagpole, space for a garden, appliances stay. This is a great family home. Take a look today!

Key facts

• Newer furnace
• Insulation added
• Double lot

Tags

• DOUBLE LOT
• 2 CAR GARAGE
• OPEN FRONT PORCH
• WALK OUT BASEMENT
• NEWER FURNACE
• INSULATION ADDED

Property features AI

Exterior

• Parking: Detached garage with garage door opener (2 parking spaces total)
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One-and-one-half story
• Construction: Shingle roof; Stone foundation; Built on one-and-one-half levels
• Exterior features: Patio; Porch; Shed(s); Has a view

Interior

• Kitchen: Refrigerator; Range; Microwave
• Bedrooms: One main-level bedroom
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Wall cooling unit(s)
• Interior features: Window treatments; Full basement
• Laundry & utility: Washer and dryer (laundry on lower level); Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $38 ($459/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (16.3% below list).
• Recommended offer: $113k (16.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#388 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Delwood Community School District (rural): math 85% / reading 75% proficiency, ranked #47 of 330 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 2 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,016 (16.3% below list)

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 10.0

CMA / ARV

• ARV (median comp): $152,204
• List price: $135,000
• Delta: -11.30%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Short St	0.49mi	3/2.0	1,456 (+11%)	2mo	$151,500	$104	58
401 Main St	0.29mi	3/1.0	1,396 (+6%)	22mo	$75,000	$54	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $75,932
• Equity at exit: $121,619

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $221,628
• Equity at exit: $262,275

Cash invested: $37,800 (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 52037

• Home prices YoY: 10.6%
• Active inventory: 2
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$90 /mo · $1,084/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $38

Break-even live

Break-even rent $1,082

Max offer price $135,000

Occupancy floor 92%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-17
   status Pending 353-char remark
2. 2026-05-11
   listed $135,000 Active 353-char remark

ⓘ 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: $1,084 · $90/mo
• Projected year-2 tax: $1,602 · $133/mo
• Expected delta: +$518/yr (+$43/mo · 47.8%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,562
• − Mortgage interest: −$7,562
• − Property taxes: −$1,084
• − Insurance: −$675
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$3,927
• Taxable loss: −$1,856
• Est. tax savings @ 24.0%: +$446
• After-tax cash flow: $905/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: Delwood Community School District
• NCES district ID: 1908880
• Math proficiency: 85% ▼ -5.00%
• Reading proficiency: 75% ▼ -10.00%
• Median HH income: $53,897
• Composite: 68.84/100
• National rank: #671
• State rank: #47 of 330 in IA

Livability — Delmar

• Score: 69/100
• State rank: #388
• US rank: #8211

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delmar, IA
• Population (ZIP): 1,014

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Portuguese 1% Slovak 1% Scottish 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.67%
• Current HPI: 215.02
• 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

2 events — show timeline

• 2026-05-17 Pending — ECIMLS
• 2026-05-11 Listed $135,000 ECIMLS

Property tax history

+2.3%/yr

Latest (2025): $1,084 · -7.5% YoY. Source: county tax records.