649 N Main St · Centerville, IA 52544

$39,000

3 bd · 1.0 ba · 1,511 sqft · SingleFamily public records · 129 Days on market

Built 1880 Fair condition 0.30 ac lot 2-car garage $26/sqft · 66% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Appreciation +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Property being sold "AS IS". 1,511 square feet, 4-bedroom home you can make your own. This property would also make a great flip for that renovator entrepreneur. The home offers a great yard and a 2 car-detached garage. Shed does sell with the property.

Key facts

• Shed
• 0.3 acre lot
• 2 garage spots

Tags

• 2 CAR DETACHED GARAGE
• SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.1% vs local median 4.6% 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.
• Zoned schools: Lakeview Elementary (math 57% / reading 60%, grade B-, #432 of 616 statewide, top 71%, 575 students, 50% FRL); Howar Middle School (math 57% / reading 66%, grade B+, #179 of 246 statewide, top 73%, 299 students, 50% FRL); Centerville High School (math 58% / reading 71%, grade B-, #211 of 336 statewide, top 70%, 404 students, 44% FRL).
• Market conditions: 147 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 $691 of equity ($270 loan paydown + $421 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $39k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.63% ✓
• Cap rate: 22.12%
• Cash-on-cash: 56.52%
• DSCR: 3.51
• GRM: 3.2

CMA / ARV

• ARV (median comp): $113,419
• List price: $39,000
• Delta: -61.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 N Main St	0.15mi	3/1.0	1,400 (-7%)	1mo	$28,000	$20	80
735 N 11th St	0.13mi	4/1.0 (+1)	1,602 (+6%)	13mo	$22,000	$14	68
715 N 11th St	0.10mi	3/2.5	1,344 (-11%)	6mo	$58,900	$44	66
1100 N Park Ave	0.37mi	3/2.0	1,626 (+8%)	1mo	$130,000	$80	65
632 N 6th St	0.40mi	3/2.0	1,421 (-6%)	10mo	$59,900	$42	59
411 N 15th St	0.32mi	2/2.0 (-1)	1,344 (-11%)	2mo	$190,000	$141	56
1516 N 14th St	0.47mi	3/1.0	1,308 (-13%)	4mo	$180,000	$138	52
515 E State St	0.44mi	3/1.0	1,302 (-14%)	5mo	$49,500	$38	52
302 W Prairie St	0.64mi	2/1.0 (-1)	1,446 (-4%)	8mo	$30,000	$21	52
717 E State	0.50mi	3/1.0	1,360 (-10%)	15mo	$60,000	$44	48
1227 W Washington St	0.71mi	3/2.0	1,344 (-11%)	5mo	$225,500	$168	40
626 N 3rd St	0.56mi	3/2.0	1,288 (-15%)	9mo	$189,900	$147	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 59.4%
• Equity multiple: 4.08×
• Total profit: $33,671
• Equity at exit: $13,476

10-year hold

• IRR: 60.7%
• Equity multiple: 8.25×
• Total profit: $79,144
• Equity at exit: $18,035

Cash invested: $10,920 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 17 under contract
• Months of supply: 5.2 mo (19%/mo absorbed)
• Median asking: $164,900 ($110/sqft)
• Median days on market: 96 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -31.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 52544

• Home prices YoY: 0.5%
• Active inventory: 147
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $514

Break-even live

Break-even rent $376

Max offer price $39,000

Occupancy floor 45%

Sensitivity live

Price	-10% $536	-5% $525	+0% $514	+5% $503	+10% $492
Rent	-10% $433	-5% $474	+0% $514	+5% $555	+10% $595
Rate	-1.0pp $534	-0.5pp $524	base $514	+0.5pp $504	+1.0pp $494

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: $9,750
• Closing costs: $1,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: 2-car garageConcrete parking
• Utilities: Public waterPublic sewer
• Home design: Single family residenceResidential property
• Construction: Built with other construction materialsOne and one-half story
• Exterior features: 66 x 200 lot (0.3 acres)

Interior

• Bedrooms: One and one-half levels
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heatingBaseboard heatingWall unit cooling
• Interior features: Basement

Listing history 50 events

1. 2026-11-08
   days on market $39,000 Active 129 DOM
2. 2026-11-08
   price $39,000 Active 128 DOM
3. 2026-11-07
   days on market $44,000 Active 128 DOM
4. 2026-11-06
   days on market $44,000 Active 127 DOM
5. 2026-11-05
   days on market $44,000 Active 126 DOM
6. 2026-11-04
   days on market $44,000 Active 125 DOM
7. 2026-11-02
   days on market $44,000 Active 123 DOM
8. 2026-11-01
   days on market $44,000 Active 122 DOM
9. 2026-10-31
   days on market $44,000 Active 121 DOM
10. 2026-10-31
    days on market $44,000 Active 120 DOM
11. 2026-10-29
    days on market $44,000 Active 119 DOM
12. 2026-10-28
    days on market $44,000 Active 118 DOM
13. 2026-10-27
    days on market $44,000 Active 117 DOM
14. 2026-10-26
    days on market $44,000 Active 116 DOM
15. 2026-10-25
    days on market $44,000 Active 115 DOM
16. 2026-10-24
    days on market $44,000 Active 114 DOM
17. 2026-10-23
    days on market $44,000 Active 113 DOM
18. 2026-10-22
    days on market $44,000 Active 112 DOM
19. 2026-10-21
    days on market $44,000 Active 111 DOM
20. 2026-10-20
    days on market $44,000 Active 110 DOM
21. 2026-10-19
    days on market $44,000 Active 109 DOM
22. 2026-10-18
    days on market $44,000 Active 108 DOM
23. 2026-10-17
    days on market $44,000 Active 107 DOM
24. 2026-10-16
    days on market $44,000 Active 106 DOM
25. 2026-10-15
    days on market $44,000 Active 105 DOM
26. 2026-10-14
    days on market $44,000 Active 104 DOM
27. 2026-10-13
    days on market $44,000 Active 103 DOM
28. 2026-10-12
    days on market $44,000 Active 102 DOM
29. 2026-10-11
    days on market $44,000 Active 101 DOM
30. 2026-10-10
    days on market $44,000 Active 100 DOM
31. 2026-10-09
    days on market $44,000 Active 99 DOM
32. 2026-10-08
    days on market $44,000 Active 98 DOM
33. 2026-10-07
    days on market $44,000 Active 97 DOM
34. 2026-10-06
    days on market $44,000 Active 96 DOM
35. 2026-10-05
    days on market $44,000 Active 95 DOM
36. 2026-10-04
    days on market $44,000 Active 94 DOM
37. 2026-10-03
    days on market $44,000 Active 93 DOM
38. 2026-10-02
    days on market $44,000 Active 92 DOM
39. 2026-10-01
    days on market $44,000 Active 91 DOM
40. 2026-09-30
    days on market $44,000 Active 90 DOM
41. 2026-09-29
    days on market $44,000 Active 89 DOM
42. 2026-09-28
    days on market $44,000 Active 88 DOM
43. 2026-09-27
    days on market $44,000 Active 87 DOM
44. 2026-09-26
    days on market $44,000 Active 86 DOM
45. 2026-09-25
    days on market $44,000 Active 85 DOM
46. 2026-09-24
    days on market $44,000 Active 84 DOM
47. 2026-09-23
    days on market $44,000 Active 83 DOM
48. 2026-09-21
    days on market $44,000 Active 81 DOM
49. 2026-09-20
    days on market $44,000 Active 80 DOM
50. 2026-09-19
    days on market $44,000 Active 79 DOM

ⓘ 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: $918 · $76/mo
• Projected year-2 tax: $918 · $76/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 ≥105°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: $12,328
• − Mortgage interest: −$2,185
• − Property taxes: −$918
• − Insurance: −$195
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$1,135
• Taxable income: $5,923
• Est. tax owed @ 24.0%: −$1,422
• After-tax cash flow: $4,750/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $37,775–$67,995 screening

The home is in fair condition with some repairs and maintenance needed. The kitchen and bathroom need updates to increase its resale value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — visible damage and debris
• Major Windows (windows) — visible damage and debris
• Major Electrical (electrical) — visible damage and debris
• Major Plumbing (plumbing) — visible damage and debris
• Major Exterior (exterior) — visible damage and debris
• Major Other — visible damage and debris

Repairs flagged

• Minor Kitchen floor — The kitchen floor is outdated and could be replaced with a more modern option.
• Minor Bathroom fixtures — The bathroom fixtures are outdated and could be replaced with more modern options.

Value-add opportunities

• Resale Paint interior walls — Painting the interior walls can make the home look more modern and appealing to potential buyers. ↑
• Resale Replace kitchen floor — Replacing the outdated kitchen floor with a more modern option can make the home more appealing to potential buyers. ↑
• Resale Replace bathroom fixtures — Replacing the outdated bathroom fixtures with more modern options can make the home more appealing to potential buyers. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Lakeview Elementary B- IA #432/616 Nat'l #8,158/41,679 Middle Howar Middle School B+ IA #179/246 Nat'l #1,620/14,009 High Centerville High School B- IA #211/336 Nat'l #2,821/17,239

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

B Composite livability gradescore 73/100

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
• County: Appanoose · 11,726 people
• Population (ZIP): 8,110
• Household income: $45,257
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 10% of renters

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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%

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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%
• Languages at home: 94% English-only · German/W. Germanic 5%

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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

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Property features AI

Exterior

• Parking: 2-car garageConcrete parking
• Utilities: Public waterPublic sewer
• Home design: Single family residenceResidential property
• Construction: Built with other construction materialsOne and one-half story
• Exterior features: 66 x 200 lot (0.3 acres)

Interior

• Bedrooms: One and one-half levels
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heatingBaseboard heatingWall unit cooling
• Interior features: Basement

Price history

+141.3% since first listed

2 events — show timeline

• 2026-07-02 Listed $48,500 IAR
• 2011-03-10 Sold (Public Records) $20,100 Public Records

Property tax history

+2.4%/yr

Latest (2025): $918 · +1.8% YoY. Source: county tax records.