1323 N 8th St · Burlington, IA 52601

$45,000

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 70 Days on market

Built 1900 6,534 sqft lot $67/sqft · 23% below area Est $58k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Darling & Updated Ranch! This 2-bedroom home is the perfect blend of comfort and convenience. Step inside to find a beautifully updated interior featuring main-floor laundry and a fully equipped kitchen with all appliances included. You’ll love the spacious, flat backyard with a private deck and storage shed. Please note: This is an assignment of contract (wholesale deal); the seller does not currently hold title but has a valid equitable interest.

Key facts

• Private deck
• Storage shed
• Updated interior

Tags

• UPDATED INTERIOR
• MAIN-FLOOR LAUNDRY
• FULLY EQUIPPED KITCHEN
• SPACIOUS FLAT BACKYARD
• PRIVATE DECK
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($857 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 6.0% in Burlington — 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 (#287 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Burlington Community School District (town): math 42% / reading 54% proficiency, ranked #286 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 184 active listings in the ZIP; 53 units permitted in Des Moines County in 2024 (40 in 5+ unit buildings).
• This rent is only 17% of the median local income ($61k/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 $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
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: 1.91% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.27%
• DSCR: 2.52
• GRM: 4.4

CMA / ARV

• ARV (median comp): $58,399
• List price: $45,000
• Delta: -22.94%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1137 Corse St	0.38mi	1/1.0 (-1)	636 (-6%)	1mo	$42,000	$66	66
1711 Lincoln St	0.61mi	1/1.0 (-1)	692 (+2%)	1mo	$89,000	$129	62
1222 Stowe St	0.26mi	1/1.0 (-1)	650 (-4%)	22mo	$33,000	$51	58
1209 Patterson St	0.71mi	1/1.0 (-1)	706 (+4%)	2mo	$48,900	$69	53

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $15,644
• Equity at exit: $6,710

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $43,203
• Equity at exit: $3,891

Cash invested: $12,600 (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 52601

• Active inventory: 184
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $857 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$63 /mo · $752/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $360

Break-even live

Break-even rent $402

Max offer price $45,000

Occupancy floor 53%

Sensitivity live

Price	-10% $385	-5% $373	+0% $360	+5% $347	+10% $334
Rent	-10% $292	-5% $326	+0% $360	+5% $394	+10% $428
Rate	-1.0pp $383	-0.5pp $371	base $360	+0.5pp $348	+1.0pp $336

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-08
   days on market $45,000 Active 70 DOM
2. 2026-06-07
   days on market $45,000 Active 69 DOM
3. 2026-06-07
   days on market $45,000 Active 68 DOM
4. 2026-06-03
   days on market $45,000 Active 65 DOM
5. 2026-06-02
   days on market $45,000 Active 64 DOM
6. 2026-06-01
   days on market $45,000 Active 63 DOM
7. 2026-05-31
   days on market $45,000 Active 62 DOM
8. 2026-05-30
   days on market $45,000 Active 61 DOM
9. 2026-03-30
   listed $45,000 Active 464-char remark

   Show marketing remark (464 chars)

   Darling & Updated Ranch! This 2-bedroom home is the perfect blend of comfort and convenience. Step inside to find a beautifully updated interior featuring main-floor laundry and a fully equipped kitchen with all appliances included. You’ll love the spacious, flat backyard with a private deck and storage shed. Please note: This is an assignment of contract (wholesale deal); the seller does not currently hold title but has a valid equitable interest.

10. 2019-06-10
    soldstatus $50,000 244-char remark

    Show marketing remark (244 chars)

    MOTIVATED SELLER! Darling two bedroom home with main floor laundry. Updated throughout. Kitchen appliances and washer/dryer included. Spacious backyard with a deck and storage shed. Off street parking and space to build a garage! MAKE AN OFFER!

11. 2019-06-10
    soldstatus $50,000

    Show marketing remark (244 chars)

    MOTIVATED SELLER! Darling two bedroom home with main floor laundry. Updated throughout. Kitchen appliances and washer/dryer included. Spacious backyard with a deck and storage shed. Off street parking and space to build a garage! MAKE AN OFFER!

12. 2018-09-27
    listed $53,000 244-char remark

    Show marketing remark (244 chars)

    MOTIVATED SELLER! Darling two bedroom home with main floor laundry. Updated throughout. Kitchen appliances and washer/dryer included. Spacious backyard with a deck and storage shed. Off street parking and space to build a garage! MAKE AN OFFER!

13. 2015-01-30
    soldstatus $50,000
14. 2012-05-10
    soldstatus $25,000

ⓘ 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: $752 · $63/mo
• Projected year-2 tax: $752 · $63/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,287
• − Mortgage interest: −$2,521
• − Property taxes: −$752
• − Insurance: −$225
• − Repairs & maintenance: −$823
• − Management: −$823
• − Depreciation: −$1,309
• Taxable income: $3,835
• Est. tax owed @ 24.0%: −$920
• After-tax cash flow: $3,398/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: Burlington Community School District
• NCES district ID: 1905790
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $41,833
• Composite: 40.3/100
• National rank: #3753
• State rank: #286 of 289 in IA

Livability — Burlington

• Score: 73/100
• State rank: #287
• US rank: #5540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, IA
• County: Des Moines County · 27,341 people
• City population: 27,341
• Metro: Burlington, IA-IL
• Population (ZIP): 27,341
• Household income: $60,983
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 963.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -83.48%
• Current HPI: 149.7662
• Rent YoY: —
• Metro: Burlington, IA-IL
• 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

+80.0% since first listed

6 events — show timeline

• 2026-03-30 Listed $45,000 IAR
• 2019-06-10 Sold (Public Records) $50,000 Public Records
• 2019-06-10 Sold (MLS) $50,000 IAR
• 2018-09-27 Listed $53,000 IAR
• 2015-01-30 Sold (Public Records) $50,000 Public Records
• 2012-05-10 Sold (Public Records) $25,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $752 · -40.2% YoY. Source: county tax records.