2515 W Highland Ave · Sioux City, IA 51103

$59,000

3 bd · 1.0 ba · 1,570 sqft · SingleFamily public records · 1 Days on market

Built 1922 5,227 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity with plenty of potential! This 2-bedroom, 1-bathroom home offers 1,020 square feet on the main floor and includes a 1-car detached garage. Conveniently situated with both driveway and alley access, this property provides flexibility and functionality for owners, tenants, or future improvements. Whether you are looking to expand your investment portfolio or find a property to make your own, this home offers a great opportunity at an affordable value. NOTE: Property sold AS-IS. Buyer and buyer’s agent to conduct all due diligence regarding condition of property. Use caution during showings. Property may require significant cleaning, remediation, and repairs.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1922

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential property; Described as a fixer
• Exterior features: Shingle roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Cap rate 12.9% vs local median 3.7% in Sioux City — 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Loess Hills Elementary (math 64% / reading 54%, grade B-, #428 of 616 statewide, top 70%, 589 students, 60% FRL); West Middle School (math 54% / reading 54%, grade B-, #206 of 246 statewide, top 84%, 864 students, 48% FRL); West High School (math 44% / reading 58%, grade D+, #308 of 336 statewide, top 92%, 1,252 students, 76% FRL).
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,000

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.69% ✓
• Cap rate: 12.95%
• Cash-on-cash: 23.77%
• DSCR: 2.06
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $189,970
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 S Collins St	0.27mi	2/1.0 (-1)	1,566 (-0%)	4mo	$105,000	$67	79
218 S Davidson St	0.15mi	4/2.0 (+1)	1,628 (+4%)	6mo	$219,900	$135	72
516 Prescott St	0.43mi	2/1.0 (-1)	1,559 (-1%)	6mo	$171,500	$110	69
1902 & 1904 W 4th St	0.55mi	4/1.5 (+1)	1,532 (-2%)	6mo	$184,999	$121	58
215 S Fawcett St	0.06mi	2/2.0 (-1)	1,400 (-11%)	15mo	$150,000	$107	58
500 Prescott St	0.40mi	3/2.0	1,366 (-13%)	1mo	$237,000	$173	55
2600 W 4th St	0.25mi	2/2.0 (-1)	1,361 (-13%)	2mo	$155,000	$114	55
205 S Colon St	0.23mi	2/2.0 (-1)	1,751 (+12%)	10mo	$264,000	$151	53
2307 W 14th St	0.63mi	3/1.5	1,714 (+9%)	2mo	$176,000	$103	51
1808 W Horne Ave	0.55mi	3/2.0	1,670 (+6%)	10mo	$225,000	$135	51
2829 W 4th	0.34mi	2/2.0 (-1)	1,432 (-9%)	13mo	$165,000	$115	50
2401 W 15th St Pl	0.71mi	2/2.0 (-1)	1,534 (-2%)	11mo	$243,100	$158	45

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: 17.0%
• Equity multiple: 1.69×
• Total profit: $11,327
• Equity at exit: $8,797

10-year hold

• IRR: 25.5%
• Equity multiple: 3.23×
• Total profit: $36,895
• Equity at exit: $5,101

Cash invested: $16,520 (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 51103

• Home prices YoY: -23.0%
• Active inventory: 79
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $327

Break-even live

Break-even rent $586

Max offer price $59,000

Occupancy floor 62%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2309 W 19th St Sioux City, IA	2.0	1.0	1200	$1,000	$0.83	43d	1	1.04mi

Listing history 2 events

1. 2026-05-30
   status Pending
2. 2026-05-28
   listed $59,000 Active

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $1,546 · $129/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,000
• − Mortgage interest: −$3,305
• − Property taxes: −$1,546
• − Insurance: −$295
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,716
• Taxable income: $3,218
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $3,154/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 17,145

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 31% Two or more races 18% Asian 4% Black 4% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Iranian 3% Portuguese 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 3% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.41%
• Current HPI: 262.3809
• 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

2 events — show timeline

• 2026-05-30 Pending — NWIA
• 2026-05-28 Listed $59,000 NWIA

Property tax history

+6.5%/yr

Latest (2025): $1,546 · +4.3% YoY. Source: county tax records.