531 S Central Ave · Burlington, IA 52601

$129,000

5 bd · 2.5 ba · 2,530 sqft · SingleFamily public records · 14 Days on market

Built 1880 6,970 sqft lot

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Why this score? — see what drove the C 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stunning 5-bedroom, 2-bath home loaded with character and charm. From the moment you arrive, you'll be welcomed by the beautiful front porch, the perfect place to relax and enjoy your morning coffee. Step inside to a spacious foyer featuring gorgeous French doors that lead into the inviting living room, highlighted by natural wood floors and timeless character throughout. The kitchen offers plenty of space for everyday living and entertaining, while the oversized main-level laundry room adds convenience and functionality. Recent updates include brand-new carpet and extensive remodeling, giving this home the perfect blend of classic charm and modern updates. Homes with this much character do

Key facts

• Natural wood floors
• Recent updates
• Front porch

Tags

• FRONT PORCH
• SPACIOUS FOYER
• FRENCH DOORS
• NATURAL WOOD FLOORS
• RECENT UPDATES
• EXTENSIVE REMODELING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Three or more levels; Vinyl siding exterior
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.16 acres (153 x 40)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Fireplace

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Cap rate 8.4% vs local median 6.0% in Burlington — 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 73/100 on livability (#287 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Burlington Community School District (town): math 42% / reading 54% proficiency, ranked #286 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 184 active listings in the ZIP; 53 units permitted in Des Moines County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Des Moines County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1880 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.08% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.66%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $78,430
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Summer St	0.07mi	4/2.5 (-1)	2,254 (-11%)	2mo	$19,500	$9	72
603 S 12th St	0.12mi	5/2.0	2,780 (+10%)	10mo	$60,000	$22	68
801 S 7th St	0.34mi	5/1.5	2,408 (-5%)	8mo	$26,500	$11	65
205 South Marshall St	0.44mi	4/2.0 (-1)	2,406 (-5%)	9mo	$75,000	$31	57
1123 S 7th St	0.53mi	4/2.5 (-1)	2,383 (-6%)	7mo	$125,000	$52	55
520 S 10th St	0.09mi	4/1.5 (-1)	2,283 (-10%)	22mo	$150,000	$66	52
815 Summer St	0.28mi	4/1.5 (-1)	2,200 (-13%)	11mo	$129,000	$59	47
105 N Woodlawn Ave	0.55mi	4/2.0 (-1)	2,186 (-14%)	1mo	$22,500	$10	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,209
• Equity at exit: $19,234

10-year hold

• IRR: 5.1%
• Equity multiple: 1.37×
• Total profit: $13,535
• Equity at exit: $11,154

Cash invested: $36,120 (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 52601

• Active inventory: 184
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $231

Break-even live

Break-even rent $1,101

Max offer price $129,000

Occupancy floor 78%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $129,000 Active 14 DOM
2. 2026-06-18
   days on market $129,000 Active 13 DOM
3. 2026-06-17
   days on market $129,000 Active 12 DOM
4. 2026-06-16
   days on market $129,000 Active 11 DOM
5. 2026-06-15
   days on market $129,000 Active 10 DOM
6. 2026-06-14
   days on market $129,000 Active 8 DOM
7. 2026-06-12
   days on market $129,000 Active 7 DOM
8. 2026-06-09
   days on market $129,000 Active 4 DOM
9. 2026-06-08
   days on market $129,000 Active 3 DOM
10. 2026-06-07
    days on market $129,000 Active 2 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $129,000 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: $1,670 · $139/mo
• Projected year-2 tax: $1,848 · $154/mo
• Expected delta: +$178/yr (+$15/mo · 10.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,709
• − Mortgage interest: −$7,226
• − Property taxes: −$1,670
• − Insurance: −$645
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$3,753
• Taxable income: $742
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $2,589/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: Burlington Community School District
• NCES district ID: 1905790
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $41,833
• Composite: 40.3/100
• National rank: #3753
• State rank: #286 of 289 in IA

Livability — Burlington

• Score: 73/100
• State rank: #287
• US rank: #5540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, IA
• County: Des Moines County · 27,341 people
• City population: 27,341
• Metro: Burlington, IA-IL
• Population (ZIP): 27,341
• Household income: $60,983
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 963.0

Population outlook (Des Moines County) Hauer SSP2

• Today (2025): 39,735 people
• By 2030: 39,257 · -1.2%
• By 2040: 38,090 · -4.1%
• By 2050: 37,156 · -6.5%
• By 2075: 36,905 · -7.1%
• By 2100: 37,222 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Des Moines

• 2024 margin: R (+15.1) · D 41.8% · R 56.8% · Other 1.4%
• 2008→2024 swing: -38.1pp toward R · 2008: 23.0pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+8.5 2016: R+7.0 2012: D+18.5 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.48%
• Current HPI: 149.7662
• Rent YoY: —
• Metro: Burlington, IA-IL
• 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

1 event — show timeline

• 2026-06-05 Listed $129,000 IAR

Property tax history

-1.4%/yr

Latest (2025): $1,670 · +14.5% YoY. Source: county tax records.