208 North St · Marquette, IA 52158

$175,000

2 bd · 3.0 ba · 2,010 sqft · Other public records · 145 Days on market

Built 1997 4,840 sqft lot $87/sqft · 15% below area Est $229k · 23% under ↓ 10% since listing

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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).

• ARV discount +15.0/15.0
• Schools +5.5/10.0
• Cash flow +5.4/30.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Located in the heart of Marquette, Iowa,  this property offers a functional and modern living space on the upper level, with a main floor commercial space once used as a bakery but has unlimited business potential. A very unique feature to this property is the old icehouse that the property was built around. You could also put a garage door back in to have an attached garage space. Built in 1997, this property provides convenient access to local attractions such as the Mississippi River, nearby wineries, new casino and antique shopping. The exterior features a deck, patio area, and porch for outdoor relaxation. Great place to start a coffee shop, office space, studio, salon, Air BNB…. The possibilities are endless! Minutes away from boat landings and a short drive to regional highlights like Pikes Peak State Park and Effigy Mounds National Monument. Call for more information.

Key facts

• Porch
• Patio area
• Deck

Tags

• MAIN FLOOR COMMERCIAL SPACE
• DECK
• PATIO AREA
• PORCH
• PIKES PEAK STATE PARK

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $-379 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (38.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (43.3% below list).
• Recommended offer: $99k (43.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#408 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, schools F, amenities F.
• Mfl Marmac Community School District (rural): math 62% / reading 68% proficiency, ranked #198 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $520 appreciation (0.3% local appreciation)).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $99,209 (43.3% 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. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.57% ✗
• Cap rate: 3.69%
• Cash-on-cash: -9.28%
• DSCR: 0.59
• GRM: 14.7

CMA / ARV

• ARV (median comp): $228,640
• List price: $175,000
• Delta: -23.46%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

0.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.45×
• Total profit: $-26,814
• Equity at exit: $53,432

10-year hold

• IRR: -5.3%
• Equity multiple: 0.41×
• Total profit: $-28,718
• Equity at exit: $66,356

Cash invested: $49,000 (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 52158

• Home prices YoY: 0.2%
• Active inventory: 3
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $992 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $-379

Break-even live

Break-even rent $1,472

Max offer price $108,039

Occupancy floor —

Sensitivity live

Price	-10% $-280	-5% $-330	+0% $-379	+5% $-429	+10% $-478
Rent	-10% $-457	-5% $-418	+0% $-379	+5% $-340	+10% $-301
Rate	-1.0pp $-291	-0.5pp $-335	base $-379	+0.5pp $-424	+1.0pp $-471

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-16
   status Pending 915-char remark

   Show marketing remark (915 chars)

   Located in the heart of Marquette, Iowa,  this property offers a functional and modern living space on the upper level, with a main floor commercial space once used as a bakery but has unlimited business potential. A very unique feature to this property is the old icehouse that the property was built around. You could also put a garage door back in to have an attached garage space. Built in 1997, this property provides convenient access to local attractions such as the Mississippi River, nearby wineries, new casino and antique shopping. The exterior features a deck, patio area, and porch for outdoor relaxation. Great place to start a coffee shop, office space, studio, salon, Air BNB…. The possibilities are endless! Minutes away from boat landings and a short drive to regional highlights like Pikes Peak State Park and Effigy Mounds National Monument. Call for more information.

2. 2026-04-28
   price $175,000 915-char remark

   Show marketing remark (915 chars)

   Located in the heart of Marquette, Iowa,  this property offers a functional and modern living space on the upper level, with a main floor commercial space once used as a bakery but has unlimited business potential. A very unique feature to this property is the old icehouse that the property was built around. You could also put a garage door back in to have an attached garage space. Built in 1997, this property provides convenient access to local attractions such as the Mississippi River, nearby wineries, new casino and antique shopping. The exterior features a deck, patio area, and porch for outdoor relaxation. Great place to start a coffee shop, office space, studio, salon, Air BNB…. The possibilities are endless! Minutes away from boat landings and a short drive to regional highlights like Pikes Peak State Park and Effigy Mounds National Monument. Call for more information.

3. 2026-03-16
   price $185,900 915-char remark

   Show marketing remark (915 chars)

   Located in the heart of Marquette, Iowa,  this property offers a functional and modern living space on the upper level, with a main floor commercial space once used as a bakery but has unlimited business potential. A very unique feature to this property is the old icehouse that the property was built around. You could also put a garage door back in to have an attached garage space. Built in 1997, this property provides convenient access to local attractions such as the Mississippi River, nearby wineries, new casino and antique shopping. The exterior features a deck, patio area, and porch for outdoor relaxation. Great place to start a coffee shop, office space, studio, salon, Air BNB…. The possibilities are endless! Minutes away from boat landings and a short drive to regional highlights like Pikes Peak State Park and Effigy Mounds National Monument. Call for more information.

4. 2025-12-21
   listed $195,000 Active 915-char remark

   Show marketing remark (915 chars)

   Located in the heart of Marquette, Iowa,  this property offers a functional and modern living space on the upper level, with a main floor commercial space once used as a bakery but has unlimited business potential. A very unique feature to this property is the old icehouse that the property was built around. You could also put a garage door back in to have an attached garage space. Built in 1997, this property provides convenient access to local attractions such as the Mississippi River, nearby wineries, new casino and antique shopping. The exterior features a deck, patio area, and porch for outdoor relaxation. Great place to start a coffee shop, office space, studio, salon, Air BNB…. The possibilities are endless! Minutes away from boat landings and a short drive to regional highlights like Pikes Peak State Park and Effigy Mounds National Monument. Call for more information.

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: +$341/yr (+$28/mo · 16.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,905
• − Mortgage interest: −$9,803
• − Property taxes: −$2,066
• − Insurance: −$875
• − Repairs & maintenance: −$952
• − Management: −$952
• − Depreciation: −$5,091
• Taxable loss: −$7,834
• Est. tax savings @ 24.0%: +$1,880
• After-tax cash flow: $-2,668/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: Mfl Marmac Community School District
• NCES district ID: 1918120
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 68% ▼ -3.00%
• Median HH income: $47,395
• Composite: 54.95/100
• National rank: #1305
• State rank: #198 of 289 in IA

Livability — Marquette

• Score: 69/100
• State rank: #408
• US rank: #8654

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marquette, IA
• City population: 286
• Population (ZIP): 286

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 16,656 people
• By 2030: 15,986 · -4.0%
• By 2040: 14,554 · -12.6%
• By 2050: 13,187 · -20.8%
• By 2075: 11,131 · -33.2%
• By 2100: 9,733 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Clayton

• 2024 margin: Solid R (+34.5) · D 32.2% · R 66.7% · Other 1.2%
• 2008→2024 swing: -51.7pp toward R · 2008: 17.2pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+28.8 2016: R+22.8 2012: D+6.9 2008: D+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.30%
• Current HPI: 165.2682
• 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

-10.3% since first listed

4 events — show timeline

• 2026-05-16 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-28 Price Changed $175,000 NEIRBR as distributed by MLS GRID
• 2026-03-16 Price Changed $185,900 NEIRBR as distributed by MLS GRID
• 2025-12-21 Listed $195,000 NEIRBR as distributed by MLS GRID

Property tax history

+1.7%/yr

Latest (2025): $2,066 · +0.6% YoY. Source: county tax records.