2729 S Palmetto St · Sioux City, IA 51106

$108,900

1 bd · 1.0 ba · 820 sqft · SingleFamily public records · 169 Days on market

Built 1910 6,970 sqft lot $133/sqft · 33% below area Est $162k · 33% under

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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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-kept two-bedroom, one-bath home offering 820 square feet of comfortable living space with an efficient layout. The property is currently tenant-occupied with a lease in place through November 2026 at $1,100 per month, making it suitable for an investor or a future owner-occupant planning ahead. Convenient Sioux City location near schools, shopping, and local amenities.

Key facts

• Near schools
• Sioux city location
• Near shopping

Tags

• SIOUX CITY LOCATION
• NEAR SCHOOLS
• NEAR SHOPPING
• LOCAL AMENITIES

🏷️ Possibly a rental listed for sale. The $108,900 price doesn't fit this home's estimated sale value (~$162,047) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $50 ($594/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 $101k (7.6% below list).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: Nodland Elementary School (281 students, 38% FRL); East Middle School (math 60% / reading 67%, grade B+, #169 of 246 statewide, top 69%, 1,067 students, 65% FRL); East High School (math 53% / reading 63%, grade C, #275 of 336 statewide, top 83%, 1,495 students, 54% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 204 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).
• This rent is only 15% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $753 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $109k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 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?
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: 0.92% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 9.0

CMA / ARV

• ARV (median comp): $162,047
• List price: $108,900
• Delta: -32.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2818 S Palmetto St	0.08mi	1/1.0	746 (-9%)	1mo	$110,000	$147	80
2536 S Cypress St	0.34mi	2/1.5 (+1)	780 (-5%)	12mo	$180,000	$231	59
2419 S Cedar St	0.36mi	2/1.0 (+1)	894 (+9%)	5mo	$116,000	$130	59
2026 S Patterson St	0.72mi	1/2.0	803 (-2%)	4mo	$53,000	$66	56
2112 S Nicollet St	0.58mi	2/1.0 (+1)	760 (-7%)	2mo	$170,000	$224	54
2511 S Lemon St	0.33mi	2/1.0 (+1)	901 (+10%)	17mo	$155,000	$172	48
2300 S Clinton St	0.45mi	2/1.5 (+1)	942 (+15%)	0mo	$164,000	$174	47
2024 S Lemon St	0.60mi	2/1.0 (+1)	938 (+14%)	1mo	$195,000	$208	42

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: -13.2%
• Equity multiple: 0.53×
• Total profit: $-14,481
• Equity at exit: $16,237

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-8,503
• Equity at exit: $9,416

Cash invested: $30,492 (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 51106

• Active inventory: 204
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$571
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $50

Break-even live

Break-even rent $944

Max offer price $108,900

Occupancy floor 90%

Sensitivity live

Price	-10% $111	-5% $80	+0% $50	+5% $19	+10% $-12
Rent	-10% $-30	-5% $10	+0% $50	+5% $89	+10% $129
Rate	-1.0pp $104	-0.5pp $77	base $50	+0.5pp $21	+1.0pp $-7

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: $27,225
• Closing costs: $3,267
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1819 S Lakeport St Apt 4 Sioux City, IA	2.0	1.0	850	$950	$1.12	45d	1	0.72mi
1331 S Maple St Sioux City, IA	1.0–2.0	1.0–2.0	745	$825	$1.11	45d	1	1.16mi
5800 Sunnybrook Dr Unit 5800-1420 Sioux City, IA	1.0	1.0	711	$1,134	$1.59	45d	1	1.16mi
2807 Lincoln Way Sioux City, IA	2.0–3.0	1.0	1100	$1,055	$0.96	45d	4	1.39mi

Listing history 23 events

1. 2026-06-21
   days on market $108,900 Active 169 DOM
2. 2026-06-19
   days on market $108,900 Active 167 DOM
3. 2026-06-18
   days on market $108,900 Active 166 DOM
4. 2026-06-17
   days on market $108,900 Active 165 DOM
5. 2026-06-16
   days on market $108,900 Active 164 DOM
6. 2026-06-15
   days on market $108,900 Active 163 DOM
7. 2026-06-14
   days on market $108,900 Active 161 DOM
8. 2026-06-12
   days on market $108,900 Active 160 DOM
9. 2026-06-09
   days on market $108,900 Active 157 DOM
10. 2026-06-08
    days on market $108,900 Active 156 DOM
11. 2026-06-07
    days on market $108,900 Active 155 DOM
12. 2026-06-05
    days on market $108,900 Active 152 DOM
13. 2026-06-02
    days on market $108,900 Active 150 DOM
14. 2026-06-01
    days on market $108,900 Active 149 DOM
15. 2026-05-31
    days on market $108,900 Active 148 DOM
16. 2026-05-30
    days on market $108,900 Active 147 DOM
17. 2026-05-12
    price $108,900 376-char remark

    Show marketing remark (376 chars)

    Well-kept two-bedroom, one-bath home offering 820 square feet of comfortable living space with an efficient layout. The property is currently tenant-occupied with a lease in place through November 2026 at $1,100 per month, making it suitable for an investor or a future owner-occupant planning ahead. Convenient Sioux City location near schools, shopping, and local amenities.

18. 2026-02-04
    price $109,999 376-char remark

    Show marketing remark (376 chars)

    Well-kept two-bedroom, one-bath home offering 820 square feet of comfortable living space with an efficient layout. The property is currently tenant-occupied with a lease in place through November 2026 at $1,100 per month, making it suitable for an investor or a future owner-occupant planning ahead. Convenient Sioux City location near schools, shopping, and local amenities.

19. 2026-01-02
    listed $119,999 Active 376-char remark

    Show marketing remark (376 chars)

    Well-kept two-bedroom, one-bath home offering 820 square feet of comfortable living space with an efficient layout. The property is currently tenant-occupied with a lease in place through November 2026 at $1,100 per month, making it suitable for an investor or a future owner-occupant planning ahead. Convenient Sioux City location near schools, shopping, and local amenities.

20. 2020-02-25
    soldstatus $58,000 214-char remark

    Show marketing remark (214 chars)

    Great starter home or investment property. This energy efficient property (low utilities) has new carpet, a newer furnace, new roof, been painted inside and out. Lots of yard space to roam and play. Come see today!

21. 2020-01-07
    listed $65,000 214-char remark

    Show marketing remark (214 chars)

    Great starter home or investment property. This energy efficient property (low utilities) has new carpet, a newer furnace, new roof, been painted inside and out. Lots of yard space to roam and play. Come see today!

22. 2016-09-19
    soldstatus $53,000
23. 2016-08-12
    listed $59,000

ⓘ 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: $1,550 · $129/mo
• Projected year-2 tax: $1,630 · $136/mo
• Expected delta: +$80/yr (+$7/mo · 5.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,078
• − Mortgage interest: −$6,100
• − Property taxes: −$1,550
• − Insurance: −$544
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$3,168
• Taxable loss: −$1,217
• Est. tax savings @ 24.0%: +$292
• After-tax cash flow: $886/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
• County: Woodbury County · 51,789 people
• City population: 51,789
• Metro: Sioux City, IA-NE-SD
• Population (ZIP): 28,592
• Household income: $78,434
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 891.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Iranian 4% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -127.61%
• Current HPI: 229.6733
• Rent YoY: —
• Metro: Sioux City, IA-NE-SD
• 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

+84.6% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $108,900 NWIA
• 2026-02-04 Price Changed $109,999 NWIA
• 2026-01-02 Listed $119,999 NWIA
• 2020-02-25 Sold (MLS) $58,000 NWIA
• 2020-01-07 Listed $65,000 NWIA
• 2016-09-19 Sold (MLS) $53,000 NWIA
• 2016-08-12 Listed $59,000 NWIA

Property tax history

+8.6%/yr

Latest (2025): $1,550 · +3.5% YoY. Source: county tax records.