302 9th St · Marion, IA 52302

$164,900

4 bd · 1.0 ba · 1,381 sqft · SingleFamily public records · 7 Days on market

Built 1870 Est $191k · 13% 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 +24.2/30.0
• ARV discount +13.6/15.0
• DSCR +7.8/10.0
• 1% rule +6.0/10.0
• 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

Listing remarks MLS

So much has been done for you! Updated kitchen, bath, plumbing, electrical AND the laundry has been moved to the main floor. There is a formal dining room and also room for a breakfast area in the kitchen in addition to the breakfast bar! One bedroom is on the main level and three others are upstairs with spacious walk-in closet. This property sits on an oversized lot with a new storage shed and plenty of room to build one heck of a garage! Walking distance to all the great shopping and restaurants in the up-and-coming downtown Marion area!

Key facts

• Outdoor space
• First-floor laundry
• Corner lot

Tags

• FIRST-FLOOR LAUNDRY
• CORNER LOT
• OUTDOOR SPACE
• ADDED CENTRAL AIR UNIT
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.7% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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.
• Current owner paid $124k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $190,578
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 8th St St	0.10mi	3/1.5 (-1)	1,440 (+4%)	0mo	$193,900	$135	81
1405 5th Ave	0.34mi	3/2.0 (-1)	1,455 (+5%)	2mo	$80,000	$55	65
924 10th St St	0.37mi	3/2.0 (-1)	1,433 (+4%)	3mo	$199,100	$139	65
975 6th St	0.46mi	3/1.0 (-1)	1,280 (-7%)	4mo	$189,000	$148	59
393 9th Ave Ave	0.46mi	3/2.0 (-1)	1,512 (+10%)	2mo	$215,500	$143	52
245 8th Ave	0.49mi	3/2.0 (-1)	1,265 (-8%)	3mo	$184,900	$146	52
180 21st St	0.54mi	4/1.5	1,577 (+14%)	2mo	$217,000	$138	48
287 8th Ave Ave	0.48mi	3/2.0 (-1)	1,214 (-12%)	4mo	$155,000	$128	45
1436 9th St	0.66mi	4/2.0	1,540 (+12%)	1mo	$201,700	$131	45
1080 7th St	0.51mi	3/— (-1)	1,587 (+15%)	2mo	$162,000	$102	45
1480 Henderson Dr	0.75mi	3/2.0 (-1)	1,479 (+7%)	0mo	$192,000	$130	44
1645 A Ave	0.49mi	3/2.0 (-1)	1,184 (-14%)	2mo	$230,000	$194	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $3,820
• Equity at exit: $24,587

10-year hold

• IRR: 16.0%
• Equity multiple: 2.60×
• Total profit: $74,027
• Equity at exit: $14,258

Cash invested: $46,172 (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 52302

• Rents YoY: 8.4%
• Active inventory: 455
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,818 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$174 /mo · $2,088/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $329

Break-even live

Break-even rent $1,402

Max offer price $164,900

Occupancy floor 77%

Sensitivity live

Price	-10% $422	-5% $375	+0% $329	+5% $282	+10% $235
Rent	-10% $185	-5% $257	+0% $329	+5% $400	+10% $472
Rate	-1.0pp $412	-0.5pp $371	base $329	+0.5pp $286	+1.0pp $242

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 Brockman Ave Marion, IA	4.0	2.0	1590	$2,400	$1.51	14d	1	0.90mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	21d	1	1.10mi
400 Lindale Dr Marion, IA	3.0	2.0	942	$1,092	$1.16	14d	1	1.25mi

Listing history 7 events

1. 2026-06-19
   days on market $164,900 Active 7 DOM
2. 2026-06-18
   days on market $164,900 Active 6 DOM
3. 2026-06-17
   days on market $164,900 Active 5 DOM
4. 2026-06-16
   days on market $164,900 Active 4 DOM
5. 2026-06-15
   days on market $164,900 Active 3 DOM
6. 2026-06-13
   remarks 691-char remark
7. 2026-06-13
   listed $164,900 Active 1 DOM

ⓘ 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: $2,088 · $174/mo
• Projected year-2 tax: $2,338 · $195/mo
• Expected delta: +$250/yr (+$21/mo · 12.0%)

ⓘ 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: $21,813
• − Mortgage interest: −$9,237
• − Property taxes: −$2,088
• − Insurance: −$824
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − Depreciation: −$4,797
• Taxable income: $1,376
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $3,612/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

+31.9% since first listed

8 events — show timeline

• 2026-06-13 Listed $164,900 FSBO.com
• 2024-04-05 Price Changed $124,000 ICAARMLS
• 2022-02-02 Sold (Public Records) $124,000 Public Records
• 2022-01-28 Sold (MLS) $124,000 CRAAR, CDRMLS
• 2022-01-27 Sold (MLS) $124,000 ICAARMLS
• 2022-01-07 Price Changed $125,000 ICAARMLS
• 2021-11-15 Listed $125,000 CRAAR, CDRMLS
• 2021-11-15 Listed $125,000 ICAARMLS

Property tax history

-0.0%/yr

Latest (2025): $2,088 · +2.9% YoY. Source: county tax records.