604 N Iowa St · Charles City, IA 50616

$134,900

2 bd · 2.0 ba · 1,528 sqft · SingleFamily public records · 4 Days on market

Built 1963 8,118 sqft lot Est $113k · 19% over

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Why this score? — see what drove the D- 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 +14.5/30.0
• Schools +4.7/10.0
• DSCR +4.4/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This immaculate 2-bedroom home offers comfort, space, and thoughtful updates throughout. Located in a great neighborhood, the property features updated bathroom and a large eat-in kitchen with stove and refrigerator included—perfect for everyday living and entertaining. A convenient breezeway connects the home to the garage and includes main-floor laundry for added ease. The spacious addition at the back of the home provides a bright and inviting family room, while the lower level offers an additional family room and a non-conforming bedroom—ideal for guests, a home office, or hobby space. Major updates include a newer furnace and central A/C installed within the past few years,

Key facts

• Bright family room
• Large eat-in kitchen
• Spacious addition

Tags

• UPDATED BATHROOM
• LARGE EAT-IN KITCHEN
• BREEZEWAY CONNECTS HOME
• MAIN-FLOOR LAUNDRY
• SPACIOUS ADDITION
• BRIGHT FAMILY ROOM

Property features AI

Finance

• Other: Located in the K & CO subdivision

Exterior

• Parking: Attached garage; Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residential property; R-1 zoning
• Construction: Vinyl siding; Shingle (asphalt) roof; Partially finished below-grade area (below-grade finished area 400)
• Exterior features: Patio; Concrete road frontage

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Partially finished basement with block construction
• Laundry & utility: Laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $30 ($362/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (11.1% below list).
• Recommended offer: $120k (11.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#161 in IA, #2,944 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Charles City Community School District (town): math 52% / reading 61% proficiency, ranked #262 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Washington Elementary School (375 students, 63% FRL); Charles City Ms (math 51% / reading 59%, grade B-, #201 of 246 statewide, top 82%, 423 students, 54% FRL); Charles City High School (math 47% / reading 67%, grade C, #279 of 336 statewide, top 85%, 534 students, 47% FRL).
• Market conditions: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $76k; list at $135k implies a 79% gain — meaningful room to come down on a strong offer.

Recommended offer $119,950 (11.1% below list)

Questions for the listing agent

1. Built in 1963 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $113,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Clark St	0.30mi	2/2.0	1,592 (+4%)	9mo	$139,000	$87	72
204 Spriggs St	0.11mi	3/1.0 (+1)	1,684 (+10%)	11mo	$82,000	$49	60
108 15th Ave	0.48mi	3/1.5 (+1)	1,456 (-5%)	8mo	$84,000	$58	56
102 3rd Ave	0.58mi	3/2.0 (+1)	1,607 (+5%)	5mo	$105,000	$65	55
600 Freeman St	0.74mi	3/2.0 (+1)	1,540 (+1%)	8mo	$142,500	$93	52
514 8th Ave	0.71mi	3/2.0 (+1)	1,542 (+1%)	10mo	$88,000	$57	52
503 8th Ave	0.65mi	3/1.5 (+1)	1,414 (-8%)	4mo	$149,000	$105	47
1603 Ohio Ave. Ave	0.59mi	2/2.0	1,710 (+12%)	8mo	$126,000	$74	46
603 8th Ave	0.73mi	3/1.0 (+1)	1,544 (+1%)	12mo	$105,000	$68	45
1700 Ohio Ave Ave	0.67mi	3/1.5 (+1)	1,389 (-9%)	2mo	$120,000	$86	45
315 16th Ave	0.68mi	3/1.5 (+1)	1,400 (-8%)	7mo	$136,000	$97	42
1104 Grove Street St	0.68mi	3/2.0 (+1)	1,701 (+11%)	12mo	$52,000	$31	34

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-19,931
• Equity at exit: $20,114

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-14,848
• Equity at exit: $11,664

Cash invested: $37,772 (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 50616

• Home prices YoY: -19.7%
• Active inventory: 71
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $30

Break-even live

Break-even rent $1,161

Max offer price $134,900

Occupancy floor 92%

Sensitivity live

Price	-10% $106	-5% $68	+0% $30	+5% $-8	+10% $-46
Rent	-10% $-65	-5% $-17	+0% $30	+5% $78	+10% $125
Rate	-1.0pp $98	-0.5pp $64	base $30	+0.5pp $-5	+1.0pp $-40

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1030 13th Ave Charles City, IA	1.0–3.0	1.0–2.0	926	$1,200	$1.29	45d	28	0.83mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-20
   listed $134,900 Active
3. 2012-05-04
   soldstatus $75,500
4. 1989-02-15
   soldstatus $42,000

ⓘ 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: $1,846 · $154/mo
• Projected year-2 tax: $1,982 · $165/mo
• Expected delta: +$136/yr (+$11/mo · 7.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 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: $14,394
• − Mortgage interest: −$7,556
• − Property taxes: −$1,846
• − Insurance: −$674
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,924
• Taxable loss: −$1,910
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $820/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: Charles City Community School District
• NCES district ID: 1907080
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 61% ▲ 9.00%
• Median HH income: $41,414
• Composite: 47.32/100
• National rank: #2299
• State rank: #262 of 289 in IA

Livability — Charles City

• Score: 77/100
• State rank: #161
• US rank: #2944

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: Charles City, IA
• City population: 9,419
• Population (ZIP): 9,419

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 15,524 people
• By 2030: 15,254 · -1.7%
• By 2040: 14,830 · -4.5%
• By 2050: 14,660 · -5.6%
• By 2075: 15,548 · +0.2%
• By 2100: 17,406 · +12.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 6% Scandinavian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Floyd

• 2024 margin: Strong R (+25.7) · D 36.5% · R 62.2% · Other 1.3%
• 2008→2024 swing: -47.6pp toward R · 2008: 21.9pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+19.4 2016: R+14.9 2012: D+14.7 2008: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.03%
• Current HPI: 187.4742
• 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

+221.2% since first listed

4 events — show timeline

• 2026-04-29 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-20 Listed $134,900 NEIRBR as distributed by MLS GRID
• 2012-05-04 Sold (Public Records) $75,500 Public Records
• 1989-02-15 Sold (Public Records) $42,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,846 · +0.3% YoY. Source: county tax records.