300 Kelly St · Charles City, IA 50616

$80,000

3 bd · 2.5 ba · 2,016 sqft · SingleFamily public records · 180 Days on market

Built 1920 0.27 ac lot $40/sqft · 46% below area Est $136k · 41% under

---

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 +4.7/10.0
• 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

A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, wood burning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for your dream home! Call today to see all this home has to offer!

Key facts

• 0.27 acre lot
• Built 1920
• Listed 180 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 6.5% in Charles 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 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.
• Market conditions: 70 active listings in the ZIP; 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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 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 1920 — 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. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.15%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (median comp): $136,348
• List price: $80,000
• Delta: -41.33%
• 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
124 Cedar Cir	0.38mi	3/2.5	2,028 (+1%)	3mo	$354,000	$175	79
306 S Johnson St	0.42mi	3/2.0	2,080 (+3%)	3mo	$123,000	$59	71
407 Spriggs St	0.31mi	4/1.5 (+1)	2,100 (+4%)	12mo	$165,000	$79	60
212 Cedar Cir	0.32mi	3/2.0	1,803 (-11%)	9mo	$305,000	$169	58
104 Hilltop Dr	0.42mi	4/1.5 (+1)	1,852 (-8%)	2mo	$245,000	$132	56
500 Kelly St	0.13mi	4/2.0 (+1)	1,826 (-9%)	20mo	$213,000	$117	54
317 4th Ave	0.74mi	3/2.0	1,864 (-8%)	1mo	$161,000	$86	50
200 Glenwood Rd	0.40mi	4/2.5 (+1)	2,184 (+8%)	20mo	$211,500	$97	46
600 S Iowa St	0.61mi	4/2.0 (+1)	1,825 (-10%)	4mo	$187,000	$102	45
709 S Johnson St St	0.69mi	3/2.0	1,834 (-9%)	7mo	$140,000	$76	45
203 Hart St	0.47mi	2/2.0 (-1)	1,758 (-13%)	9mo	$129,500	$74	42
108 3rd Ave Ave	0.62mi	4/2.5 (+1)	2,200 (+9%)	11mo	$149,000	$68	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: 17.4%
• Equity multiple: 1.70×
• Total profit: $15,754
• Equity at exit: $11,928

10-year hold

• IRR: 25.9%
• Equity multiple: 3.26×
• Total profit: $50,729
• Equity at exit: $6,917

Cash invested: $22,400 (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: 70
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $451

Break-even live

Break-even rent $684

Max offer price $80,000

Occupancy floor 59%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-04
   days on market $80,000 Active 180 DOM
2. 2026-06-02
   days on market $80,000 Active 179 DOM
3. 2026-06-01
   days on market $80,000 Active 178 DOM
4. 2026-05-31
   days on market $80,000 Active 177 DOM
5. 2026-05-31
   days on market $80,000 Active 176 DOM
6. 2026-05-04
   price $80,000 453-char remark

   Show marketing remark (449 chars)

   A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, woodburning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for you dream home! Call today to see all this home has to offer!

7. 2026-05-04
   price $80,000 449-char remark

   Show marketing remark (449 chars)

   A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, woodburning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for you dream home! Call today to see all this home has to offer!

8. 2026-03-12
   price $90,000 453-char remark

   Show marketing remark (449 chars)

   A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, woodburning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for you dream home! Call today to see all this home has to offer!

9. 2026-03-12
   price $90,000 449-char remark

   Show marketing remark (449 chars)

   A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, woodburning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for you dream home! Call today to see all this home has to offer!

10. 2025-12-05
    listed $99,900 Active 449-char remark

    Show marketing remark (453 chars)

    A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, wood burning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for your dream home! Call today to see all this home has to offer!

11. 2025-12-05
    listed $99,900 Active 453-char remark

    Show marketing remark (453 chars)

    A diamond in the rough awaiting your finishing touches. Located only 2 blocks from the Cedar River, walking bridge, and Sunset Park, this home has a ton of potential. Some great features include 3 bedrooms, 2.25 baths, refinished hardwood floors, built ins, wood burning fireplace, large corner lot, gazebo, and brand new siding and roof installed in July 2025. Don't miss your chance for your dream home! Call today to see all this home has to offer!

12. 2022-05-17
    soldstatus $82,500
13. 2022-05-16
    soldstatus $82,500
14. 2022-05-16
    soldstatus $82,500
15. 2022-03-08
    listed $82,500
16. 2022-03-08
    listed $82,500
17. 2021-04-12
    soldstatus $65,000
18. 2021-04-09
    soldstatus $65,000
19. 2021-04-09
    soldstatus $65,000
20. 2020-12-30
    listed $65,000
21. 2020-12-30
    listed $65,000
22. 2008-03-21
    soldstatus $72,500
23. 2007-03-29
    soldstatus $63,500

ⓘ 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: $1,054 · $88/mo
• Projected year-2 tax: $1,155 · $96/mo
• Expected delta: +$101/yr (+$8/mo · 9.6%)

ⓘ 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 3/10 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: $15,059
• − Mortgage interest: −$4,481
• − Property taxes: −$1,054
• − Insurance: −$400
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$2,327
• Taxable income: $4,387
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $4,356/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

+26.0% since first listed

18 events — show timeline

• 2026-05-04 Price Changed $80,000 Greater Mason BOR
• 2026-05-04 Price Changed $80,000 NEIRBR as distributed by MLS GRID
• 2026-03-12 Price Changed $90,000 Greater Mason BOR
• 2026-03-12 Price Changed $90,000 NEIRBR as distributed by MLS GRID
• 2025-12-05 Listed $99,900 NEIRBR as distributed by MLS GRID
• 2025-12-05 Listed $99,900 Greater Mason BOR
• 2022-05-17 Sold (Public Records) $82,500 Public Records
• 2022-05-16 Sold (MLS) $82,500 Greater Mason BOR
• 2022-05-16 Sold (MLS) $82,500 IAR
• 2022-03-08 Listed $82,500 Greater Mason BOR
• 2022-03-08 Listed $82,500 IAR
• 2021-04-12 Sold (Public Records) $65,000 Public Records
• 2021-04-09 Sold (MLS) $65,000 Greater Mason BOR
• 2021-04-09 Sold (MLS) $65,000 IAR
• 2020-12-30 Listed $65,000 Greater Mason BOR
• 2020-12-30 Listed $65,000 IAR
• 2008-03-21 Sold (Public Records) $72,500 Public Records
• 2007-03-29 Sold (Public Records) $63,500 Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,054 · +0.8% YoY. Source: county tax records.