12 West Main St · Central City, IA 52214

$149,500

3 bd · 2.0 ba · 1,695 sqft · SingleFamily public records · 13 Days on market

Built 1914 0.26 ac lot $88/sqft · 21% below area Est $188k · 21% under ↓ 15% 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 +15.6/30.0
• ARV discount +15.0/15.0
• Schools +5.2/10.0
• DSCR +4.8/10.0
• 1% rule +3.7/10.0
• 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

Investment Opportunity or great chance to move in and build equity in your home! This home sits in a great neighborhood with small town atmosphere but a short drive to Marion or Cedar Rapids. The home has had many updates over the years, and is just waiting for someone to come and finish updating! The home features a great layout with a half bath on the main level and a large bathroom upstairs along with 3 good sized bedrooms! There is also great opportunity to change the home into a mixed use or commercial space as the city is open to that and it sits just up hill from all the main shops in Central City along with great access to it from HWY 13.

Key facts

• Many updates
• 0.26 acre lot
• Garage

Tags

• MANY UPDATES
• HALF BATH ON MAIN LEVEL
• LARGE BATHROOM UPSTAIRS
• 3 GOOD SIZED BEDROOMS
• GREAT ACCESS TO HWY 13

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $63 ($756/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 $130k (13.4% below list).
• Recommended offer: $130k (13.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#234 in IA, #4,445 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Central City Community School District (rural): math 56% / reading 64% proficiency, ranked #236 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,531 (13.4% below list)

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (median comp): $188,165
• List price: $149,500
• Delta: -12.31%
• 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
56 North Ave Ave	0.10mi	4/2.0 (+1)	1,856 (+10%)	1mo	$222,500	$120	73
344 North 1st St St	0.34mi	4/2.0 (+1)	1,760 (+4%)	2mo	$220,000	$125	71
43 River St S	0.10mi	3/1.5	1,894 (+12%)	8mo	$71,000	$37	67
360 2nd St S	0.27mi	3/2.5	1,600 (-6%)	19mo	$255,000	$159	60
525 Southview Dr	0.60mi	3/2.0	1,910 (+13%)	3mo	$230,000	$120	48
111 David Dr	0.31mi	3/3.0	1,543 (-9%)	24mo	$250,000	$162	47
680 Marion Rd N	0.65mi	4/3.5 (+1)	1,732 (+2%)	12mo	$417,500	$241	45
832 E Main St St	0.54mi	2/1.0 (-1)	1,456 (-14%)	8mo	$195,000	$134	36

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-20,238
• Equity at exit: $22,291

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-12,558
• Equity at exit: $12,926

Cash invested: $41,860 (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 52214

• Home prices YoY: -17.9%
• Active inventory: 14
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $63

Break-even live

Break-even rent $1,216

Max offer price $149,500

Occupancy floor 90%

Sensitivity live

Price	-10% $148	-5% $105	+0% $63	+5% $21	+10% $-22
Rent	-10% $-39	-5% $12	+0% $63	+5% $114	+10% $165
Rate	-1.0pp $138	-0.5pp $101	base $63	+0.5pp $24	+1.0pp $-15

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-30
   status $149,500 Pending 13 DOM
2. 2026-05-16
   listed $149,500 Active 654-char remark

   Show marketing remark (654 chars)

   Investment Opportunity or great chance to move in and build equity in your home! This home sits in a great neighborhood with small town atmosphere but a short drive to Marion or Cedar Rapids. The home has had many updates over the years, and is just waiting for someone to come and finish updating! The home features a great layout with a half bath on the main level and a large bathroom upstairs along with 3 good sized bedrooms! There is also great opportunity to change the home into a mixed use or commercial space as the city is open to that and it sits just up hill from all the main shops in Central City along with great access to it from HWY 13.

3. 2026-04-13
   price $165,000
4. 2026-04-06
   price $175,000

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,858 · $155/mo
• Expected delta: +$490/yr (+$41/mo · 35.8%)

ⓘ 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 2/10 Low 7 d/yr ≥102°F today · 15 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: $15,544
• − Mortgage interest: −$8,374
• − Property taxes: −$1,368
• − Insurance: −$748
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$4,349
• Taxable loss: −$1,782
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $1,184/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: Central City Community School District
• NCES district ID: 1906780
• Math proficiency: 56% ▼ -7.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $57,664
• Composite: 51.78/100
• National rank: #1673
• State rank: #236 of 289 in IA

Livability — Central City

• Score: 74/100
• State rank: #234
• US rank: #4445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central City, IA
• Population (ZIP): 2,770

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Portuguese 5% Italian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.26%
• Current HPI: 258.2573
• 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

-14.6% since first listed

3 events — show timeline

• 2026-05-16 Listed $149,500 CRAAR, CDRMLS
• 2026-04-13 Price Changed $165,000 CRAAR, CDRMLS
• 2026-04-06 Price Changed $175,000 CRAAR, CDRMLS

Property tax history

+1.0%/yr

Latest (2025): $1,368 · -3.4% YoY. Source: county tax records.