509 W Agency Rd #55 · West Burlington, IA 52655

$31,500

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 60 Days on market

Built 2013 Fair condition $450/mo HOA · 53% of rent ↓ 12% 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 +14.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• DSCR +4.4/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 2013 Harmony Homes mobile home located in Western Pines Mobile Home Park in West Burlington. This 3-bedroom, 2 full bath home offers a functional open-concept layout connecting the kitchen, dining, and living areas ideal for everyday living. The home features a dedicated laundry room, a spacious primary suite with private bath and a split-bedroom design for added privacy. Measuring 16x76 (1,216 sq ft), this home provides comfortable living at an affordable price point. Property is being sold as-is. * These are Manufactured Homes & do not include Real Estate ground underneath the property. There are lease restrictions for the land these units are on. Contact the listing

Key facts

• Built 2013
• Listed 59 days

Property features AI

Finance

• Other: Located in Western Pines Mobile Home Park
• HOA & community: Homeowners association with a $450 monthly fee that includes trash

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Residential property
• Construction: Vinyl siding
• Exterior features: Storage; Public utilities (water and sewer)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Range; Microwave; Dishwasher; Refrigerator; Washer; Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $32k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $6 ($71/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($853 rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#47 in IA, #1,179 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D-, amenities F.
• West Burlington Ind School District (town): math 66% / reading 77% proficiency, ranked #140 of 289 in IA (top 48%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 22 active listings in the ZIP; 3 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; 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 $218 of loan paydown is wiped out by about $945 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent.

Recommended offer $30,555 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 2.71% ✓
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-4,440
• Equity at exit: $4,697

10-year hold

• IRR: -3.6%
• Equity multiple: 0.75×
• Total profit: $-2,209
• Equity at exit: $2,724

Cash invested: $8,820 (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 52655

• Home prices YoY: -5.7%
• Active inventory: 22
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $853 medium
• Mortgage (P&I): −$165
• Tax est. 1.5%: −$39 /mo · $472/yr
• Insurance: −$13
• HOA: −$450
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $6

Break-even live

Break-even rent $845

Max offer price $31,500

Occupancy floor 94%

Sensitivity live

Price	-10% $28	-5% $17	+0% $6	+5% $-5	+10% $-16
Rent	-10% $-61	-5% $-28	+0% $6	+5% $40	+10% $73
Rate	-1.0pp $22	-0.5pp $14	base $6	+0.5pp $-2	+1.0pp $-11

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: $7,875
• Closing costs: $945
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4051 West Ave Burlington, IA	1.0–2.0	1.0	723	$1,060	$1.47	44d	2	1.06mi
2911 Market St Unit 2909 Burlington, IA	2.0	1.0	720	$625	$0.87	44d	1	1.31mi
2645 Newbury Cir Burlington, IA	2.0	1.0	825	$825	$1.00	44d	3	1.45mi

HOA detail

• Monthly dues: $450 · $5,400/yr

Listing history 17 events

1. 2026-06-19
   days on market $31,500 Active 60 DOM
2. 2026-06-18
   days on market $31,500 Active 59 DOM
3. 2026-06-17
   days on market $31,500 Active 58 DOM
4. 2026-06-16
   days on market $31,500 Active 57 DOM
5. 2026-06-15
   days on market $31,500 Active 56 DOM
6. 2026-06-14
   days on market $31,500 Active 54 DOM
7. 2026-06-12
   days on market $31,500 Active 53 DOM
8. 2026-06-09
   days on market $31,500 Active 50 DOM
9. 2026-06-08
   days on market $31,500 Active 49 DOM
10. 2026-06-07
    days on market $31,500 Active 48 DOM
11. 2026-06-07
    pricedays on market $31,500 Active 47 DOM
12. 2026-06-02
    days on market $35,000 Active 43 DOM
13. 2026-06-01
    days on market $35,000 Active 42 DOM
14. 2026-05-31
    days on market $35,000 Active 41 DOM
15. 2026-05-30
    days on market $35,000 Active 40 DOM
16. 2026-05-13
    price $35,000
17. 2026-04-20
    listed $40,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,231
• − Mortgage interest: −$1,764
• − Property taxes: −$472
• − Insurance: −$158
• − Repairs & maintenance: −$819
• − Management: −$819
• − HOA: −$5,400
• − Depreciation: −$916
• Taxable loss: −$116
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $99/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

A fair condition manufactured home with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance
• Minor Exterior siding — Weathered appearance
• Minor Interior walls — Faded paint

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Both Upgrade bathroom fixtures — Modern fixtures increase appeal and functionality
• Both Paint exterior siding — Fresh paint improves curb appeal and longevity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Exterior siding · Weathered appearance	Minor	$500–3,000
Interior walls · Faded paint	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Upgrade bathroom fixtures — Modern fixtures increase appeal and functionality ↑
• Both Paint exterior siding — Fresh paint improves curb appeal and longevity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Burlington Ind School District
• NCES district ID: 1930780
• Math proficiency: 66% ▼ -7.00%
• Reading proficiency: 77% ▲ 2.00%
• Median HH income: $40,093
• Composite: 59.62/100
• National rank: #910
• State rank: #140 of 289 in IA

Livability — West Burlington

• Score: 82/100
• State rank: #47
• US rank: #1179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Burlington, IA
• Population (ZIP): 4,300

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 4% Italian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -12.25%
• Current HPI: 201.4077
• 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

-12.5% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $35,000 IAR
• 2026-04-20 Listed $40,000 IAR