208 E South St St · Lisbon, IA 52306

$145,000

4 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 85 Days on market

Built 1908 3,572 sqft lot $101/sqft · 27% below area Est $198k · 27% under ↓ 12% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• Appreciation +6.7/10.0
• Schools +6.4/10.0
• DSCR +4.5/10.0
• Livability +4.1/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step inside this charming 2-story home featuring thoughtful updates throughout and an ideal layout for comfortable living. The main level offers a welcoming entryway featuring a beautiful staircase. The living room is filled with natural light from abundant windows. A formal dining room provides the perfect setting for gatherings, while the spacious kitchen offers plenty of room for cooking, storage, and everyday convenience. A convenient half bath completes the main floor. Upstairs, you’ll find four generously sized bedrooms and a full bathroom, offering plenty of space for family, guests, or a home office. The unfinished basement provides exceptional storage capacity and includes a utility toilet and sink for added convenience. An attached one stall garage offers secure parking and additional storage. Outside, enjoy a fully fenced yard, a private covered patio area enhanced with a privacy fence—ideal for outdoor entertaining, pets, or simply relaxing. With updates throughout, generous living space and a functional layout, this home is ready to welcome its next owner!

Key facts

• Beautiful staircase
• Formal dining room
• Spacious kitchen

Tags

• WELCOMING ENTRYWAY
• BEAUTIFUL STAIRCASE
• NATURAL LIGHT
• FORMAL DINING ROOM
• SPACIOUS KITCHEN
• CONVENIENT HALF BATH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $38 ($460/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 $127k (12.7% below list).
• Recommended offer: $127k (12.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#53 in IA, #1,268 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Lisbon Community School District (town): math 74% / reading 74% proficiency, ranked #75 of 289 in IA (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 13 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.4% local appreciation)).
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,575 (12.7% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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: 0.87% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (median comp): $198,282
• List price: $145,000
• Delta: -26.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 2nd Ave Ave E	0.31mi	4/1.5	1,441 (+0%)	9mo	$165,000	$115	76
314 N Monroe St	0.29mi	3/2.0 (-1)	1,476 (+2%)	8mo	$223,000	$151	70
410 E Main St	0.21mi	3/1.5 (-1)	1,393 (-3%)	9mo	$236,000	$169	70
226 W South St	0.26mi	3/2.0 (-1)	1,352 (-6%)	6mo	$139,900	$103	67
227 E 5th Ave Ave	0.48mi	4/2.0	1,528 (+6%)	7mo	$237,000	$155	61
418 Truman St St	0.52mi	4/2.0	1,400 (-3%)	15mo	$223,500	$160	59
215 S Washington St	0.12mi	3/1.0 (-1)	1,618 (+12%)	18mo	$155,000	$96	49
114 N Penn St St	0.52mi	3/1.0 (-1)	1,627 (+13%)	1mo	$235,100	$144	44
415 W Main St	0.49mi	3/1.5 (-1)	1,300 (-10%)	16mo	$215,000	$165	41
709 W Main St	0.70mi	3/2.0 (-1)	1,300 (-10%)	23mo	$262,000	$202	27

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

Projected returns pro-forma

3.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.57×
• Total profit: $23,341
• Equity at exit: $68,858

10-year hold

• IRR: 11.9%
• Equity multiple: 2.86×
• Total profit: $75,503
• Equity at exit: $109,055

Cash invested: $40,600 (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 52306

• Home prices YoY: 1.6%
• Active inventory: 13
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$141 /mo · $1,690/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $38

Break-even live

Break-even rent $1,217

Max offer price $145,000

Occupancy floor 92%

Sensitivity live

Price	-10% $120	-5% $79	+0% $38	+5% $-3	+10% $-44
Rent	-10% $-62	-5% $-12	+0% $38	+5% $88	+10% $138
Rate	-1.0pp $111	-0.5pp $75	base $38	+0.5pp $1	+1.0pp $-38

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $145,000 Active 85 DOM
2. 2026-06-18
   days on market $145,000 Active 83 DOM
3. 2026-06-17
   days on market $145,000 Active 82 DOM
4. 2026-06-16
   days on market $145,000 Active 81 DOM
5. 2026-06-15
   days on market $145,000 Active 80 DOM
6. 2026-06-13
   days on market $145,000 Active 78 DOM
7. 2026-06-12
   days on market $145,000 Active 77 DOM
8. 2026-06-09
   days on market $145,000 Active 74 DOM
9. 2026-06-08
   days on market $145,000 Active 73 DOM
10. 2026-06-07
    days on market $145,000 Active 72 DOM
11. 2026-06-05
    days on market $145,000 Active 70 DOM
12. 2026-06-04
    days on market $145,000 Active 68 DOM
13. 2026-06-02
    days on market $145,000 Active 67 DOM
14. 2026-06-01
    days on market $145,000 Active 66 DOM
15. 2026-05-31
    days on market $145,000 Active 65 DOM
16. 2026-05-31
    days on market $145,000 Active 64 DOM
17. 2026-05-04
    price $145,000 1104-char remark

    Show marketing remark (1104 chars)

    Step inside this charming 2-story home featuring thoughtful updates throughout and an ideal layout for comfortable living. The main level offers a welcoming entryway featuring a beautiful staircase. The living room is filled with natural light from abundant windows. A formal dining room provides the perfect setting for gatherings, while the spacious kitchen offers plenty of room for cooking, storage, and everyday convenience. A convenient half bath completes the main floor. Upstairs, you’ll find four generously sized bedrooms and a full bathroom, offering plenty of space for family, guests, or a home office. The unfinished basement provides exceptional storage capacity and includes a utility toilet and sink for added convenience. An attached one stall garage offers secure parking and additional storage. Outside, enjoy a fully fenced yard, a private covered patio area enhanced with a privacy fence—ideal for outdoor entertaining, pets, or simply relaxing. With updates throughout, generous living space and a functional layout, this home is ready to welcome its next owner!

18. 2026-04-21
    price $150,000 1104-char remark

    Show marketing remark (1104 chars)

    Step inside this charming 2-story home featuring thoughtful updates throughout and an ideal layout for comfortable living. The main level offers a welcoming entryway featuring a beautiful staircase. The living room is filled with natural light from abundant windows. A formal dining room provides the perfect setting for gatherings, while the spacious kitchen offers plenty of room for cooking, storage, and everyday convenience. A convenient half bath completes the main floor. Upstairs, you’ll find four generously sized bedrooms and a full bathroom, offering plenty of space for family, guests, or a home office. The unfinished basement provides exceptional storage capacity and includes a utility toilet and sink for added convenience. An attached one stall garage offers secure parking and additional storage. Outside, enjoy a fully fenced yard, a private covered patio area enhanced with a privacy fence—ideal for outdoor entertaining, pets, or simply relaxing. With updates throughout, generous living space and a functional layout, this home is ready to welcome its next owner!

19. 2026-03-27
    listed $165,000 Active 1104-char remark

    Show marketing remark (1104 chars)

    Step inside this charming 2-story home featuring thoughtful updates throughout and an ideal layout for comfortable living. The main level offers a welcoming entryway featuring a beautiful staircase. The living room is filled with natural light from abundant windows. A formal dining room provides the perfect setting for gatherings, while the spacious kitchen offers plenty of room for cooking, storage, and everyday convenience. A convenient half bath completes the main floor. Upstairs, you’ll find four generously sized bedrooms and a full bathroom, offering plenty of space for family, guests, or a home office. The unfinished basement provides exceptional storage capacity and includes a utility toilet and sink for added convenience. An attached one stall garage offers secure parking and additional storage. Outside, enjoy a fully fenced yard, a private covered patio area enhanced with a privacy fence—ideal for outdoor entertaining, pets, or simply relaxing. With updates throughout, generous living space and a functional layout, this home is ready to welcome its next owner!

ⓘ 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: $1,690 · $141/mo
• Projected year-2 tax: $1,983 · $165/mo
• Expected delta: +$293/yr (+$24/mo · 17.4%)

ⓘ 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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,189
• − Mortgage interest: −$8,122
• − Property taxes: −$1,690
• − Insurance: −$725
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,218
• Taxable loss: −$1,997
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $939/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: Lisbon Community School District
• NCES district ID: 1917250
• Math proficiency: 74% ▲ 1.00%
• Reading proficiency: 74% ▼ -2.00%
• Median HH income: $60,633
• Composite: 63.71/100
• National rank: #600
• State rank: #75 of 289 in IA

Livability — Lisbon

• Score: 82/100
• State rank: #53
• US rank: #1268

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lisbon, IA
• Population (ZIP): 1,452

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Italian 2% Hungarian 1% Iranian 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.44%
• Current HPI: 217.013
• 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

-12.1% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $145,000 CRAAR, CDRMLS
• 2026-04-21 Price Changed $150,000 CRAAR, CDRMLS
• 2026-03-27 Listed $165,000 CRAAR, CDRMLS

Property tax history

+3.9%/yr

Latest (2025): $1,690 · +5.4% YoY. Source: county tax records.