4530 Teal Ct · Marion, IA 52302

$163,500

2 bd · 1.5 ba · 1,176 sqft · Condo public records · 2 Days on market

Built 2002 $230/mo HOA · 14% of rent

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Why this score? — see what drove the D 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 +8.8/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• 1% rule +4.7/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready with fresh paint and newer flooring. Popular townhouse floor plan. Newer stainless kitchen appliances included. Main floor laundry off 1 car attached garage. Great location on peaceful culdesac. 2 spacious bedrooms. 1 1/2 bathrooms. Sliding door to private deck. Lower level rec room is almost finished. Only needs paint and trim work. Daylight window. Lower level is also stubbed for a 3rd bathroom. 2 pets allowed. Minutes to Hwy 13, shopping and restaurants.

Key facts

• $230 HOA
• Garage
• Built 2002

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $230

Exterior

• Parking: Attached garage with garage door opener (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Two levels / 2 stories
• Construction: Brick, frame and vinyl siding construction
• Exterior features: Deck; Located on a cul-de-sac

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Dishwasher; Disposal; Gas water heater; Microwave; Range; Refrigerator; Owned water softener; Full concrete basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $164k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (2.5% below list).
• Recommended offer: $140k (14.4% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Linn-Mar Community School District (suburban): math 75% / reading 76% proficiency, ranked #44 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Linn Grove Elementary School (math 72% / reading 67%, grade A-, #224 of 616 statewide, top 42%, 412 students, 39% FRL); Excelsior Middle School (math 71% / reading 72%, grade A, #106 of 246 statewide, top 44%, 617 students, 28% FRL); Linn-Mar High School (math 73% / reading 78%, grade A-, #79 of 336 statewide, top 25%, 2,271 students, 23% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 455 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,894 (14.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.97% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.50%
• DSCR: 0.84
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.3%
• Equity multiple: 0.42×
• Total profit: $-26,395
• Equity at exit: $24,378

10-year hold

• IRR: 1.3%
• Equity multiple: 1.11×
• Total profit: $5,151
• Equity at exit: $14,136

Cash invested: $45,780 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,594 high
• Mortgage (P&I): −$857
• Tax from tax record: −$237 /mo · $2,848/yr
• Insurance: −$68
• HOA: −$230
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-134

Break-even live

Break-even rent $1,763

Max offer price $139,894

Occupancy floor —

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: $40,875
• Closing costs: $4,905
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1975 49th St Marion, IA	3.0	2.0	1449	$2,175	$1.50	13d	1	0.28mi
700 35th St Marion, IA	2.0	1.0–2.0	896	$1,224	$1.37	13d	1	0.94mi
6156 Carlson Way Marion, IA	1.0–3.0	1.0–2.0	882	$1,550	$1.76	13d	5	0.95mi
820 27th St Unit 3C Marion, IA	2.0	1.0	756	$1,000	$1.32	13d	1	1.42mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	21d	1	1.46mi
2899 5th Ave Unit 2 Marion, IA	2.0	1.0	900	$1,200	$1.33	13d	1	1.49mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-07
   status Pending 996-char remark
2. 2026-05-05
   listed $163,500 Active 996-char remark
3. 2022-05-13
   soldstatus $160,000
4. 2019-10-01
   soldstatus $112,000
5. 2019-09-30
   soldstatus $112,000 475-char remark

   Show marketing remark (475 chars)

   Move in ready with fresh paint and newer flooring. Popular townhouse floor plan. Newer stainless kitchen appliances included. Main floor laundry off 1 car attached garage. Great location on peaceful culdesac. 2 spacious bedrooms. 1 1/2 bathrooms. Sliding door to private deck. Lower level rec room is almost finished. Only needs paint and trim work. Daylight window. Lower level is also stubbed for a 3rd bathroom. 2 pets allowed. Minutes to Hwy 13, shopping and restaurants.

6. 2019-07-15
   listed $114,950 475-char remark

   Show marketing remark (475 chars)

   Move in ready with fresh paint and newer flooring. Popular townhouse floor plan. Newer stainless kitchen appliances included. Main floor laundry off 1 car attached garage. Great location on peaceful culdesac. 2 spacious bedrooms. 1 1/2 bathrooms. Sliding door to private deck. Lower level rec room is almost finished. Only needs paint and trim work. Daylight window. Lower level is also stubbed for a 3rd bathroom. 2 pets allowed. Minutes to Hwy 13, shopping and restaurants.

7. 2002-11-08
   soldstatus $91,900

ⓘ 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: $2,848 · $237/mo
• Projected year-2 tax: $2,848 · $237/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 (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $19,128
• − Mortgage interest: −$9,159
• − Property taxes: −$2,848
• − Insurance: −$818
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − HOA: −$2,760
• − Depreciation: −$4,756
• Taxable loss: −$4,273
• Est. tax savings @ 24.0%: +$1,026
• After-tax cash flow: $-578/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: Linn-Mar Community School District
• NCES district ID: 1917220
• Math proficiency: 75% ▼ -7.00%
• Reading proficiency: 76% ▼ -5.00%
• Median HH income: $72,473
• Composite: 66.08/100
• National rank: #440
• State rank: #44 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

+79.5% since first listed

8 events — show timeline

• 2026-06-08 Sold (MLS) $165,000 CRAAR, CDRMLS
• 2026-05-07 Pending — CRAAR, CDRMLS
• 2026-05-05 Listed $163,500 CRAAR, CDRMLS
• 2022-05-13 Sold (Public Records) $160,000 Public Records
• 2019-10-01 Sold (Public Records) $112,000 Public Records
• 2019-09-30 Sold (MLS) $112,000 CRAAR, CDRMLS
• 2019-07-15 Listed $114,950 CRAAR, CDRMLS
• 2002-11-08 Sold (Public Records) $91,900 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,848 · +2.6% YoY. Source: county tax records.