101 W Amherst St · Marcus, IA 51035

$94,900

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 71 Days on market

Built 1904 10,270 sqft lot $78/sqft · 24% below area Est $124k · 24% under

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Why this score? — see what drove the A- 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +6.5/10.0
• Livability +3.9/5.0
• Appreciation +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 1 1/2 story home offering an abundance of space and character throughout. The interior has had many updates in the past 6 years and features generously sized rooms, creating an open and comfortable feel perfect for everyday living and entertaining. Kitchen is an eat -in kitchen plus the formal dining area. Just off the living room, a large deck provides the ideal spot for relaxing or gatherings while enjoying the outdoors. Upstairs, you will find three bedrooms along with a convenient 3/4 bath with shower. Two of the bedrooms are connected by a functional Jack-and-Jill closet, adding both charm and practicality to the layout. Ideally located next to downtown and near the park, the property offers the perfect blend of convenience and neighborhood appeal- close to amenities while still providing a welcoming residential atmosphere. The 2 car detached garage is an asset to the property.

Key facts

• Large deck
• Eat in kitchen
• Convenient 3/4 bath

Tags

• EAT IN KITCHEN
• LARGE DECK
• JACK AND JILL CLOSET
• CONVENIENT 3/4 BATH
• NEXT TO DOWNTOWN
• NEAR THE PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#130 in IA, #2,373 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Marcus-Meriden-Cleghorn Community School District (rural): math 75% / reading 75% proficiency, ranked #102 of 330 in IA (top 31%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $89,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.26% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (median comp): $124,276
• List price: $94,900
• Delta: -23.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 N Locust St	0.10mi	2/1.0 (-1)	1,182 (-3%)	1mo	$93,000	$79	79
300 N Maple St	0.19mi	4/2.0 (+1)	1,283 (+5%)	2mo	$120,000	$94	77
405 N Elm St	0.35mi	3/2.0	1,363 (+11%)	1mo	$112,500	$83	64
305 N Ames St	0.48mi	3/2.0	1,407 (+15%)	2mo	$140,000	$100	51

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: 5.8%
• Equity multiple: 1.23×
• Total profit: $6,024
• Equity at exit: $14,150

10-year hold

• IRR: 15.2%
• Equity multiple: 2.23×
• Total profit: $32,778
• Equity at exit: $8,205

Cash invested: $26,572 (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 51035

• Home prices YoY: -1.8%
• Active inventory: 11
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$74 /mo · $886/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $336

Break-even live

Break-even rent $773

Max offer price $94,900

Occupancy floor 67%

Sensitivity live

Price	-10% $390	-5% $363	+0% $336	+5% $309	+10% $282
Rent	-10% $241	-5% $289	+0% $336	+5% $384	+10% $431
Rate	-1.0pp $384	-0.5pp $360	base $336	+0.5pp $312	+1.0pp $287

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $94,900 Active 71 DOM
2. 2026-06-18
   days on market $94,900 Active 69 DOM
3. 2026-06-17
   days on market $94,900 Active 68 DOM
4. 2026-06-16
   days on market $94,900 Active 67 DOM
5. 2026-06-15
   days on market $94,900 Active 66 DOM
6. 2026-06-13
   days on market $94,900 Active 64 DOM
7. 2026-06-12
   days on market $94,900 Active 63 DOM
8. 2026-06-09
   days on market $94,900 Active 60 DOM
9. 2026-06-08
   days on market $94,900 Active 59 DOM
10. 2026-06-07
    days on market $94,900 Active 58 DOM
11. 2026-06-05
    days on market $94,900 Active 56 DOM
12. 2026-06-04
    days on market $94,900 Active 54 DOM
13. 2026-06-02
    days on market $94,900 Active 53 DOM
14. 2026-06-01
    days on market $94,900 Active 52 DOM
15. 2026-05-31
    days on market $94,900 Active 51 DOM
16. 2026-05-31
    days on market $94,900 Active 50 DOM
17. 2026-04-10
    listed $94,900 Active 904-char remark

    Show marketing remark (904 chars)

    Charming 1 1/2 story home offering an abundance of space and character throughout. The interior has had many updates in the past 6 years and features generously sized rooms, creating an open and comfortable feel perfect for everyday living and entertaining. Kitchen is an eat -in kitchen plus the formal dining area. Just off the living room, a large deck provides the ideal spot for relaxing or gatherings while enjoying the outdoors. Upstairs, you will find three bedrooms along with a convenient 3/4 bath with shower. Two of the bedrooms are connected by a functional Jack-and-Jill closet, adding both charm and practicality to the layout. Ideally located next to downtown and near the park, the property offers the perfect blend of convenience and neighborhood appeal- close to amenities while still providing a welcoming residential atmosphere. The 2 car detached garage is an asset to the property.

ⓘ 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: $886 · $74/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$302/yr (+$25/mo · 34.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,388
• − Mortgage interest: −$5,316
• − Property taxes: −$886
• − Insurance: −$474
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$2,761
• Taxable income: $2,649
• Est. tax owed @ 24.0%: −$636
• After-tax cash flow: $3,398/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: Marcus-Meriden-Cleghorn Community School District
• NCES district ID: 1918630
• Math proficiency: 75% ▼ -15.00%
• Reading proficiency: 75% ▼ -15.00%
• Median HH income: $54,764
• Composite: 64.96/100
• National rank: #1091
• State rank: #102 of 330 in IA

Livability — Marcus

• Score: 78/100
• State rank: #130
• US rank: #2373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marcus, IA
• Population (ZIP): 1,664

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Portuguese 3% Lithuanian 3%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.11%
• Current HPI: 222.828
• 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

• 2026-04-10 Listed $94,900 NWIA

Property tax history

+1.1%/yr

Latest (2025): $886 · +2.5% YoY. Source: county tax records.