1000 S 10th St · Burlington, IA 52601

$79,900

2 bd · 1.0 ba · 1,251 sqft · SingleFamily public records · 64 Days on market

Built 1890 $64/sqft · at area comps Est $83k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• 1% rule +7.8/10.0
• 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 MLS

Nice 3-bed, 2-bath home, remodeled, sits on a 0.100 lot and is located close to local schools and stores. Listing Agent is related to th seller

Key facts

• 2 garage spots
• Built 1890
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $552 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $17k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $80k implies a 451% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.28% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• GRM: 6.5

CMA / ARV

• ARV (median comp): $82,707
• List price: $79,900
• Delta: -3.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1101 S Central Ave	0.10mi	3/1.0 (+1)	1,235 (-1%)	1mo	$1	—	87
1208 S 15th St	0.32mi	2/2.0	1,224 (-2%)	1mo	$125,000	$102	77
714 S 4th St	0.40mi	2/1.0	1,300 (+4%)	0mo	$34,000	$26	75
1300 Summer St	0.38mi	2/1.0	1,192 (-5%)	1mo	$140,000	$117	74
1625 Louisa St	0.44mi	3/1.0 (+1)	1,266 (+1%)	1mo	$112,900	$89	71
564 S Central Ave Ave	0.33mi	2/1.0	1,122 (-10%)	1mo	$66,500	$59	66
1800 Barret St St	0.59mi	2/2.5	1,284 (+3%)	0mo	$218,000	$170	62
519 S 8th St	0.40mi	3/1.5 (+1)	1,354 (+8%)	1mo	$50,000	$37	60
209 S 8th St	0.64mi	3/1.0 (+1)	1,291 (+3%)	2mo	$71,500	$55	58
2016 S 15th St	0.72mi	3/2.0 (+1)	1,260 (+1%)	1mo	$139,800	$111	56
241 S 9th St	0.60mi	3/1.0 (+1)	1,386 (+11%)	1mo	$1	—	48
2107 S Central Ave	0.74mi	2/1.0	1,084 (-13%)	0mo	$116,500	$107	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: 8.3%
• Equity multiple: 1.32×
• Total profit: $7,249
• Equity at exit: $11,913

10-year hold

• IRR: 17.5%
• Equity multiple: 2.44×
• Total profit: $32,256
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $317

Break-even live

Break-even rent $620

Max offer price $79,900

Occupancy floor 64%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 4th St Unit 205 Burlington, IA	1.0	1.0	930	$900	$0.97	43d	1	0.79mi
116 N 4th St Unit 214 Burlington, IA	2.0	1.0	1205	$1,295	$1.07	43d	1	0.79mi
116 N 5th St Unit 402 Burlington, IA	1.0	1.0	1025	$1,020	$1.00	43d	1	0.80mi
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	43d	1	0.85mi

Listing history 23 events

1. 2026-06-19
   days on market $79,900 Active 64 DOM
2. 2026-06-18
   days on market $79,900 Active 63 DOM
3. 2026-06-17
   days on market $79,900 Active 62 DOM
4. 2026-06-16
   days on market $79,900 Active 61 DOM
5. 2026-06-15
   days on market $79,900 Active 60 DOM
6. 2026-06-14
   days on market $79,900 Active 58 DOM
7. 2026-06-12
   days on market $79,900 Active 57 DOM
8. 2026-06-09
   days on market $79,900 Active 54 DOM
9. 2026-06-08
   days on market $79,900 Active 53 DOM
10. 2026-06-07
    days on market $79,900 Active 52 DOM
11. 2026-06-07
    days on market $79,900 Active 51 DOM
12. 2026-06-03
    days on market $79,900 Active 48 DOM
13. 2026-06-02
    days on market $79,900 Active 47 DOM
14. 2026-06-01
    days on market $79,900 Active 46 DOM
15. 2026-05-31
    days on market $79,900 Active 45 DOM
16. 2026-05-30
    days on market $79,900 Active 44 DOM
17. 2026-05-14
    price $79,900 143-char remark

    Show marketing remark (143 chars)

    Nice 3-bed, 2-bath home, remodeled, sits on a 0.100 lot and is located close to local schools and stores. Listing Agent is related to th seller

18. 2026-04-16
    listed $97,000 Active 143-char remark

    Show marketing remark (143 chars)

    Nice 3-bed, 2-bath home, remodeled, sits on a 0.100 lot and is located close to local schools and stores. Listing Agent is related to th seller

19. 2020-06-22
    soldstatus $14,500
20. 2020-06-16
    soldstatus $14,500 118-char remark

    Show marketing remark (118 chars)

    Calling all handymen! Take a look at this 1.5 story home located on a 41'x106' corner lot. This home is selling as-is.

21. 2020-02-10
    listed $14,500 118-char remark

    Show marketing remark (118 chars)

    Calling all handymen! Take a look at this 1.5 story home located on a 41'x106' corner lot. This home is selling as-is.

22. 2019-11-12
    soldstatus $10,000
23. 2019-03-13
    soldstatus $10,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $853 · $71/mo
• Expected delta: +$401/yr (+$33/mo · 88.8%)

ⓘ 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: $12,265
• − Mortgage interest: −$4,476
• − Property taxes: −$452
• − Insurance: −$400
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,324
• Taxable income: $2,651
• Est. tax owed @ 24.0%: −$636
• After-tax cash flow: $3,173/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

+699.0% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $79,900 IAR
• 2026-04-16 Listed $97,000 IAR
• 2020-06-22 Sold (Public Records) $14,500 Public Records
• 2020-06-16 Sold (MLS) $14,500 IAR
• 2020-02-10 Listed $14,500 IAR
• 2019-11-12 Sold (Public Records) $10,000 Public Records
• 2019-03-13 Sold (Public Records) $10,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $452 · -51.2% YoY. Source: county tax records.