3156 163rd St

Charlotte, IA 52731

$50,000B

4 bd · 2.0 ba · 2,314 sqft · Built 1890 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,445/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $738/mo
• Annual: $8,853/yr
• Cap rate: 24.00%
• Cash-on-cash: 63.23%
• DSCR: 3.81
• 1% rule: 2.89%
• Cash to close: $14,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $738 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#717 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, schools D, amenities F.
• Northeast Community School District (rural): math 69% / reading 77% proficiency, ranked #77 of 289 in IA (top 27%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: property tax is 2.9% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.