703 S 20th St · Centerville, IA 52544

$9,500

4 bd · 1.0 ba · 1,067 sqft · Other public records · 36 Days on market

Built 1914 ↓ 57% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

Key facts

• Built 1914
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $10k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $9k (3.0% below list) — sets the bar for market timing.
• Cap rate 105.5% vs local median 4.0% in Centerville — 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 (#277 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Centerville Community School District (town): math 57% / reading 65% proficiency, ranked #251 of 289 in IA (top 87%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 82 active listings in the ZIP; 6 units permitted in Appanoose County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $169 of equity ($66 loan paydown + $103 appreciation (1.1% local appreciation)).
• Appanoose County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $9,215 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 11.34% ✓
• Cap rate: 105.47%
• Cash-on-cash: 354.21%
• DSCR: 16.76
• GRM: 0.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 19.89×
• Total profit: $50,238
• Equity at exit: $3,283

10-year hold

• IRR: —
• Equity multiple: 42.37×
• Total profit: $110,035
• Equity at exit: $4,393

Cash invested: $2,660 (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 52544

• Home prices YoY: 0.5%
• Active inventory: 82
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $1,077 medium
• Mortgage (P&I): −$50
• Tax est. 1.5%: −$12 /mo · $142/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $785

Break-even live

Break-even rent $83

Max offer price $9,500

Occupancy floor 22%

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: $2,375
• Closing costs: $285
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $9,500 Active 36 DOM
2. 2026-06-17
   days on market $9,500 Active 35 DOM
3. 2026-06-16
   days on market $9,500 Active 34 DOM
4. 2026-06-15
   days on market $9,500 Active 33 DOM
5. 2026-06-13
   days on market $9,500 Active 31 DOM
6. 2026-06-12
   days on market $9,500 Active 30 DOM
7. 2026-06-09
   days on market $9,500 Active 27 DOM
8. 2026-06-08
   days on market $9,500 Active 26 DOM
9. 2026-06-07
   days on market $9,500 Active 25 DOM
10. 2026-06-07
    days on market $9,500 Active 24 DOM
11. 2026-06-04
    days on market $9,500 Active 21 DOM
12. 2026-06-02
    days on market $9,500 Active 20 DOM
13. 2026-06-01
    days on market $9,500 Active 19 DOM
14. 2026-05-31
    days on market $9,500 Active 18 DOM
15. 2026-05-31
    days on market $9,500 Active 17 DOM
16. 2026-05-14
    listed $9,500 Active 22-char remark
17. 2025-03-18
    soldstatus $10,000 Closed 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

18. 2025-02-11
    status Pending 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

19. 2025-02-01
    historical Active Under Contract 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

20. 2024-12-12
    price $18,000 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

21. 2024-11-04
    price $20,000 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

22. 2024-10-16
    listed $22,000 Active 590-char remark

    Show marketing remark (590 chars)

    Property being sold AS-IS. Investment opportunity! This 2 bedroom, 1 bathroom house is waiting to be revitalized. Bathroom plumbing has been updated, as well as some electrical. The home sits on a large double lot, which could be split into two (and build a second house!) in a quiet neighborhood with mature trees. This property is located less than two miles from the historic Centerville square where you can shop local! Also less than two miles from schools, Walmart, True Value Hardware, Hy-Vee Grocery and much more. Priced to sell to the next owner that can see its hidden potential!

23. 2023-12-27
    listed $36,500 Active
24. 2023-01-12
    soldstatus $13,000 Closed
25. 2022-12-29
    status Pending
26. 2022-12-08
    listed $13,000 Active
27. 2012-09-17
    soldstatus $27,000
28. 2012-02-14
    soldstatus $22,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,924
• − Mortgage interest: −$532
• − Property taxes: −$142
• − Insurance: −$48
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$276
• Taxable income: $9,857
• Est. tax owed @ 24.0%: −$2,366
• After-tax cash flow: $7,056/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: Centerville Community School District
• NCES district ID: 1906750
• Math proficiency: 57% ▼ -8.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $35,401
• Composite: 50.48/100
• National rank: #1854
• State rank: #251 of 289 in IA

Livability — Centerville

• Score: 73/100
• State rank: #277
• US rank: #5375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Centerville, IA
• Population (ZIP): 8,110

Population outlook (Appanoose County) Hauer SSP2

• Today (2025): 11,726 people
• By 2030: 11,194 · -4.5%
• By 2040: 10,063 · -14.2%
• By 2050: 8,976 · -23.5%
• By 2075: 6,785 · -42.1%
• By 2100: 4,819 · -58.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 5%

Political lean MEDSL · Appanoose

• 2024 margin: Solid R (+46.7) · D 26.1% · R 72.8% · Other 1.2%
• 2008→2024 swing: -44.8pp toward R · 2008: -1.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+40.2 2016: R+36.4 2012: R+3.5 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.08%
• Current HPI: 212.65
• 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

-56.8% since first listed

13 events — show timeline

• 2026-05-14 Listed $9,500 FSBO.com
• 2025-03-18 Sold (MLS) $10,000 IAR
• 2025-02-11 Pending — IAR
• 2025-02-01 Contingent — IAR
• 2024-12-12 Price Changed $18,000 IAR
• 2024-11-04 Price Changed $20,000 IAR
• 2024-10-16 Listed $22,000 IAR
• 2023-12-27 Listed $36,500 IAR
• 2023-01-12 Sold (MLS) $13,000 IAR
• 2022-12-29 Pending — IAR
• 2022-12-08 Listed $13,000 IAR
• 2012-09-17 Sold (Public Records) $27,000 Public Records
• 2012-02-14 Sold (Public Records) $22,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $654 · +1.2% YoY. Source: county tax records.