535 8th Ave · Marion, IA 52302

$154,900

3 bd · 2.0 ba · 1,600 sqft · MultiFamily public records · 119 Days on market

Built 1900 7,500 sqft lot $97/sqft · 6% below area Est $164k · 6% under

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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
• ARV discount +10.0/15.0
• 1% rule +8.5/10.0
• Schools +5.8/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Investor opportunity in Marion! This up/down well maintained duplex features a 2BR/1BA lower unit and 1BR/1BA upper unit with long-term tenants. Most utilities are separated for simplified management and tenants pay all utilities. Exterior improvements include a newer roof (post-derecho repair), shared driveway has new gravel as well as parking in the back and fresh scraping and paint. Shared furnace is functional with heat controlled by the lower unit. Parking available behind the property. Just a short distance from all things Marion, this is solid investment property!

Key facts

• Newer roof
• Parking available
• Shared driveway

Tags

• WELL MAINTAINED DUPLEX
• NEWER ROOF
• SHARED DRIVEWAY
• FRESH SCRAPING AND PAINT
• PARKING AVAILABLE

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 2.7% in Marion — 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 84/100 on livability (#19 in IA, #633 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Marion Independent School District (suburban): math 68% / reading 70% proficiency, ranked #158 of 289 in IA (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.4%/yr); 455 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

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.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $78k; list at $155k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.35% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.63%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (median comp): $164,091
• List price: $154,900
• Delta: -5.60%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.56×
• Total profit: $24,247
• Equity at exit: $23,096

10-year hold

• IRR: 25.7%
• Equity multiple: 3.78×
• Total profit: $120,757
• Equity at exit: $13,393

Cash invested: $43,372 (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 52302

• Rents YoY: 8.4%
• Active inventory: 455
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$812
• Tax from tax record: −$173 /mo · $2,078/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $601

Break-even live

Break-even rent $1,329

Max offer price $154,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,090
Total (2 units)			$2,090

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 Brockman Ave Marion, IA	4.0	2.0	1590	$2,400	$1.51	13d	1	0.76mi
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	44d	1	0.91mi
2785 Ridgeview Way Marion, IA	3.0	1.5	2015	$1,650	$0.82	13d	1	1.12mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	21d	1	1.33mi

Listing history 23 events

1. 2026-06-19
   days on market $154,900 Active 119 DOM
2. 2026-06-18
   days on market $154,900 Active 118 DOM
3. 2026-06-17
   days on market $154,900 Active 117 DOM
4. 2026-06-16
   days on market $154,900 Active 116 DOM
5. 2026-06-15
   days on market $154,900 Active 115 DOM
6. 2026-06-14
   days on market $154,900 Active 113 DOM
7. 2026-06-13
   days on market $154,900 Active 112 DOM
8. 2026-06-10
   days on market $154,900 Active 110 DOM
9. 2026-06-09
   days on market $154,900 Active 109 DOM
10. 2026-06-08
    days on market $154,900 Active 108 DOM
11. 2026-06-07
    days on market $154,900 Active 107 DOM
12. 2026-06-03
    days on market $154,900 Active 103 DOM
13. 2026-06-02
    days on market $154,900 Active 102 DOM
14. 2026-06-01
    days on market $154,900 Active 101 DOM
15. 2026-05-31
    days on market $154,900 Active 100 DOM
16. 2026-05-30
    days on market $154,900 Active 99 DOM
17. 2026-04-27
    price $154,900 577-char remark

    Show marketing remark (577 chars)

    Investor opportunity in Marion! This up/down well maintained duplex features a 2BR/1BA lower unit and 1BR/1BA upper unit with long-term tenants. Most utilities are separated for simplified management and tenants pay all utilities. Exterior improvements include a newer roof (post-derecho repair), shared driveway has new gravel as well as parking in the back and fresh scraping and paint. Shared furnace is functional with heat controlled by the lower unit. Parking available behind the property. Just a short distance from all things Marion, this is solid investment property!

18. 2026-04-26
    price $154,500 577-char remark

    Show marketing remark (896 chars)

    Investor opportunity in Marion! This well-maintained up/down duplex offers immediate income potential with a 2BR/1BA lower unit and 1BR/1BA upper unit, both occupied by long-term tenants. A recent rental permit inspection was completed this past week, ensuring a smooth and compliant transition for the next owner. Most utilities are separately metered and paid by tenants, supporting simplified expense management. Recent exterior improvements include a newer roof (post-deracho repair), fresh scraping and paint, and a newly improved gravel driveway with off-street parking in the rear. Shared furnace is functional with heat controlled by the lower unit. Tenants also handle snow and lawn care, reducing owner responsibilities. Conveniently located near all that Marion has to offer, this is a solid, low-maintenance addition to any rental portfolio with stable occupancy and operational ease.

19. 2026-04-26
    price $154,900 896-char remark

    Show marketing remark (896 chars)

    Investor opportunity in Marion! This well-maintained up/down duplex offers immediate income potential with a 2BR/1BA lower unit and 1BR/1BA upper unit, both occupied by long-term tenants. A recent rental permit inspection was completed this past week, ensuring a smooth and compliant transition for the next owner. Most utilities are separately metered and paid by tenants, supporting simplified expense management. Recent exterior improvements include a newer roof (post-deracho repair), fresh scraping and paint, and a newly improved gravel driveway with off-street parking in the rear. Shared furnace is functional with heat controlled by the lower unit. Tenants also handle snow and lawn care, reducing owner responsibilities. Conveniently located near all that Marion has to offer, this is a solid, low-maintenance addition to any rental portfolio with stable occupancy and operational ease.

20. 2026-02-20
    listed $159,900 Active 577-char remark

    Show marketing remark (896 chars)

    Investor opportunity in Marion! This well-maintained up/down duplex offers immediate income potential with a 2BR/1BA lower unit and 1BR/1BA upper unit, both occupied by long-term tenants. A recent rental permit inspection was completed this past week, ensuring a smooth and compliant transition for the next owner. Most utilities are separately metered and paid by tenants, supporting simplified expense management. Recent exterior improvements include a newer roof (post-deracho repair), fresh scraping and paint, and a newly improved gravel driveway with off-street parking in the rear. Shared furnace is functional with heat controlled by the lower unit. Tenants also handle snow and lawn care, reducing owner responsibilities. Conveniently located near all that Marion has to offer, this is a solid, low-maintenance addition to any rental portfolio with stable occupancy and operational ease.

21. 2026-02-20
    listed $159,900 Active 896-char remark

    Show marketing remark (896 chars)

    Investor opportunity in Marion! This well-maintained up/down duplex offers immediate income potential with a 2BR/1BA lower unit and 1BR/1BA upper unit, both occupied by long-term tenants. A recent rental permit inspection was completed this past week, ensuring a smooth and compliant transition for the next owner. Most utilities are separately metered and paid by tenants, supporting simplified expense management. Recent exterior improvements include a newer roof (post-deracho repair), fresh scraping and paint, and a newly improved gravel driveway with off-street parking in the rear. Shared furnace is functional with heat controlled by the lower unit. Tenants also handle snow and lawn care, reducing owner responsibilities. Conveniently located near all that Marion has to offer, this is a solid, low-maintenance addition to any rental portfolio with stable occupancy and operational ease.

22. 2011-03-15
    soldstatus $78,000
23. 2005-11-17
    soldstatus $84,000

ⓘ 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: $2,078 · $173/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$177/yr (+$15/mo · 8.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $25,080
• − Mortgage interest: −$8,677
• − Property taxes: −$2,078
• − Insurance: −$774
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$4,506
• Taxable income: $5,032
• Est. tax owed @ 24.0%: −$1,208
• After-tax cash flow: $6,005/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: Marion Independent School District
• NCES district ID: 1918690
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $49,541
• Composite: 58.49/100
• National rank: #997
• State rank: #158 of 289 in IA

Livability — Marion

• Score: 84/100
• State rank: #19
• US rank: #633

Category grades

Amenities D- 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: Marion, IA
• County: Linn County · 179,860 people
• City population: 42,706
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,706
• Household income: $87,983
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 940.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 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: ▼ -144.98%
• Current HPI: 199.2949
• Rent YoY: ▲ 8.37%
• Metro: Cedar Rapids, 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

+84.4% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $154,900 ICAARMLS
• 2026-04-26 Price Changed $154,500 ICAARMLS
• 2026-04-26 Price Changed $154,900 CRAAR, CDRMLS
• 2026-02-20 Listed $159,900 ICAARMLS
• 2026-02-20 Listed $159,900 CRAAR, CDRMLS
• 2011-03-15 Sold (Public Records) $78,000 Public Records
• 2005-11-17 Sold (Public Records) $84,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,078 · +2.8% YoY. Source: county tax records.