237 1st Ave · Clinton, IA 52732

$64,900

2 bd · 1.0 ba · 1,076 sqft · SingleFamily public records · 167 Days on market

Built 1900 3,500 sqft lot $60/sqft · 74% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this cozy 2 bedroom 1 bath home! The property has a spacious 3 season front porch. Updated kitchen with laundry hook ups. The seller is offering a $1,000.00 kitchen flooring allowance. The home features a large open living space and dining room right off the kitchen. Great oversized 1 car garage in back with lots of storage space or room for hobbies! It also has a nice concrete patio in backyard. You don't want to miss this! Home being sold as is.

Key facts

• Dining room
• Updated kitchen
• 3,500 sq ft lot

Tags

• SPACIOUS 3 SEASON FRONT PORCH
• UPDATED KITCHEN
• LARGE OPEN LIVING SPACE
• DINING ROOM
• OVERSIZED 1 CAR GARAGE
• LOTS OF STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 6.7% in Clinton — 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 75/100 on livability (#222 in IA, #4,192 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime D, employment D.
• Clinton Community School District (town): math 52% / reading 56% proficiency, ranked #273 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 246 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clinton County population projected at -19% 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.63% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.33%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (median comp): $36,217
• List price: $64,900
• Delta: 79.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 N 3rd St	0.19mi	3/1.0 (+1)	1,114 (+4%)	7mo	$45,500	$41	74
312 N 3rd St	0.19mi	3/1.0 (+1)	1,114 (+4%)	7mo	$45,500	$41	74
533 6th Ave N	0.51mi	1/1.0 (-1)	1,088 (+1%)	1mo	$39,900	$37	68
337 4th Ave N	0.24mi	2/1.0	1,200 (+12%)	2mo	$118,000	$98	67
229 8th Ave	0.49mi	2/0.5	1,010 (-6%)	7mo	$18,000	$18	59
113 N 6th St	0.44mi	3/1.0 (+1)	1,142 (+6%)	6mo	$48,000	$42	59
620 N 4th St	0.45mi	2/2.0	1,000 (-7%)	6mo	$52,980	$53	59
504 N 4th St	0.36mi	2/1.0	921 (-14%)	2mo	$60,000	$65	57
516 5th Ave N	0.46mi	3/1.0 (+1)	1,190 (+11%)	0mo	$80,000	$67	55
515 1st Ave	0.33mi	2/1.0	917 (-15%)	6mo	$96,500	$105	55
923 Pershing Blvd	0.65mi	3/1.0 (+1)	1,158 (+8%)	6mo	$150,000	$130	47
814 Park Pl	0.56mi	2/1.0	936 (-13%)	7mo	$67,500	$72	46

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: 18.9%
• Equity multiple: 1.77×
• Total profit: $13,933
• Equity at exit: $9,677

10-year hold

• IRR: 27.2%
• Equity multiple: 3.40×
• Total profit: $43,668
• Equity at exit: $5,611

Cash invested: $18,172 (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 52732

• Home prices YoY: -34.9%
• Active inventory: 246
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,059 high
• Mortgage (P&I): −$340
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $384

Break-even live

Break-even rent $574

Max offer price $64,900

Occupancy floor 59%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 2nd Ave S Unit 2 Clinton, IA	2.0	1.0	1082	$750	$0.69	43d	1	0.34mi
416 7th Ave S Unit C Clinton, IA	1.0	1.0	773	$700	$0.91	43d	1	0.45mi
1002 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	43d	1	0.71mi
1004 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	43d	1	0.71mi
1008 S 4th St Clinton, IA	3.0	2.5	1467	$1,750	$1.19	43d	1	0.72mi
1006 S 4th St Clinton, IA	3.0	2.5	1467	$1,700	$1.16	43d	1	0.72mi
1216 9th Ave S Clinton, IA	2.0	1.0	804	$1,000	$1.24	43d	1	1.40mi

Listing history 19 events

1. 2026-06-09
   status $64,900 Pending 167 DOM
2. 2026-06-08
   days on market $64,900 Active 167 DOM
3. 2026-06-07
   days on market $64,900 Active 166 DOM
4. 2026-06-07
   days on market $64,900 Active 165 DOM
5. 2026-06-03
   days on market $64,900 Active 162 DOM
6. 2026-06-02
   days on market $64,900 Active 161 DOM
7. 2026-06-01
   days on market $64,900 Active 160 DOM
8. 2026-05-31
   days on market $64,900 Active 159 DOM
9. 2026-05-30
   days on market $64,900 Active 158 DOM
10. 2026-05-18
    status Active
11. 2026-05-17
    historical
12. 2026-03-11
    price $64,900
13. 2026-01-17
    status Active
14. 2026-01-14
    historical
15. 2026-01-08
    status Active
16. 2026-01-06
    historical
17. 2026-01-05
    historical
18. 2025-09-30
    price
19. 2025-05-17
    listed Active

ⓘ 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: $1,031 · $86/mo
• Projected year-2 tax: $1,031 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,712
• − Mortgage interest: −$3,635
• − Property taxes: −$1,031
• − Insurance: −$324
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$1,888
• Taxable income: $3,799
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $3,691/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: Clinton Community School District
• NCES district ID: 1907710
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $40,900
• Composite: 45.22/100
• National rank: #2666
• State rank: #273 of 289 in IA

Livability — Clinton

• Score: 75/100
• State rank: #222
• US rank: #4192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IA
• County: Clinton County · 25,880 people
• City population: 25,880
• Metro: Clinton, IA
• Population (ZIP): 25,880
• Household income: $61,105
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 889.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 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: ▼ -83.23%
• Current HPI: 155.3426
• Rent YoY: —
• Metro: Clinton, 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

10 events — show timeline

• 2026-05-18 Relisted — MRED as Distributed by MLS Grid
• 2026-05-17 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-11 Price Changed $64,900 MRED as Distributed by MLS Grid
• 2026-01-17 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-30 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-05-17 Listed — RMLSA as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2025): $1,031 · +15.8% YoY. Source: county tax records.