403 W Van Buren St · Centerville, IA 52544

$30,000

2 bd · 1.0 ba · 670 sqft · Other public records · 332 Days on market

Built 1914 2,744 sqft lot $45/sqft · 55% 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
• Appreciation +5.5/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Income potential! Check out this 2-bedroom 1 bathroom home within close proximity to the square, schools and shopping. Whether you're looking for a rental property, starter home or downsizing, this is a great little home. Electrical has been cut at the breaker box and will need reconnected. Call your agent to schedule a viewing!

Key facts

• 2,744 sq ft lot
• Built 1914
• Listed 332 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($811 rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.3% vs local median 4.1% 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.
• Market conditions: 83 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 $531 of equity ($207 loan paydown + $324 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $30k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 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 1914 — 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. 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?
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: 2.70% ✓
• Cap rate: 23.27%
• Cash-on-cash: 60.64%
• DSCR: 3.70
• GRM: 3.1

CMA / ARV

• ARV (median comp): $66,171
• List price: $30,000
• Delta: -54.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 63.6%
• Equity multiple: 4.30×
• Total profit: $27,733
• Equity at exit: $10,366

10-year hold

• IRR: 64.7%
• Equity multiple: 8.72×
• Total profit: $64,813
• Equity at exit: $13,873

Cash invested: $8,400 (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 52544

• Home prices YoY: 0.5%
• Active inventory: 83
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $811 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $425

Break-even live

Break-even rent $273

Max offer price $30,000

Occupancy floor 43%

Sensitivity live

Price	-10% $441	-5% $433	+0% $425	+5% $416	+10% $408
Rent	-10% $360	-5% $392	+0% $425	+5% $457	+10% $489
Rate	-1.0pp $440	-0.5pp $432	base $425	+0.5pp $417	+1.0pp $409

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $30,000 Active 332 DOM
2. 2026-06-18
   days on market $30,000 Active 330 DOM
3. 2026-06-17
   days on market $30,000 Active 329 DOM
4. 2026-06-16
   days on market $30,000 Active 328 DOM
5. 2026-06-15
   days on market $30,000 Active 327 DOM
6. 2026-06-13
   days on market $30,000 Active 325 DOM
7. 2026-06-12
   days on market $30,000 Active 324 DOM
8. 2026-06-09
   days on market $30,000 Active 321 DOM
9. 2026-06-08
   days on market $30,000 Active 320 DOM
10. 2026-06-07
    days on market $30,000 Active 319 DOM
11. 2026-06-07
    days on market $30,000 Active 318 DOM
12. 2026-06-04
    days on market $30,000 Active 315 DOM
13. 2026-06-02
    days on market $30,000 Active 314 DOM
14. 2026-06-01
    days on market $30,000 Active 313 DOM
15. 2026-05-31
    days on market $30,000 Active 312 DOM
16. 2026-05-31
    days on market $30,000 Active 311 DOM
17. 2026-01-23
    price $30,000 330-char remark

    Show marketing remark (330 chars)

    Income potential! Check out this 2-bedroom 1 bathroom home within close proximity to the square, schools and shopping. Whether you're looking for a rental property, starter home or downsizing, this is a great little home. Electrical has been cut at the breaker box and will need reconnected. Call your agent to schedule a viewing!

18. 2025-07-23
    listed $35,000 Active 330-char remark

    Show marketing remark (330 chars)

    Income potential! Check out this 2-bedroom 1 bathroom home within close proximity to the square, schools and shopping. Whether you're looking for a rental property, starter home or downsizing, this is a great little home. Electrical has been cut at the breaker box and will need reconnected. Call your agent to schedule a viewing!

19. 2020-01-14
    listed $29,999
20. 2019-06-24
    listed $31,000
21. 2017-02-24
    soldstatus $4,500
22. 2016-11-18
    listed $8,500

ⓘ 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: $554 · $46/mo
• Projected year-2 tax: $554 · $46/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 4/10 Moderate
• 🌡 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: $9,729
• − Mortgage interest: −$1,680
• − Property taxes: −$554
• − Insurance: −$150
• − Repairs & maintenance: −$778
• − Management: −$778
• − Depreciation: −$873
• Taxable income: $4,915
• Est. tax owed @ 24.0%: −$1,180
• After-tax cash flow: $3,914/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: 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

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
• Population (ZIP): 8,110

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%

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%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 5%

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

Industry mix (Fortune 500 HQ in IA)

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

Price history

+252.9% since first listed

6 events — show timeline

• 2026-01-23 Price Changed $30,000 IAR
• 2025-07-23 Listed $35,000 IAR
• 2020-01-14 Listed $29,999 IAR
• 2019-06-24 Listed $31,000 IAR
• 2017-02-24 Sold (MLS) $4,500 IAR
• 2016-11-18 Listed $8,500 IAR

Property tax history

+3.5%/yr

Latest (2025): $554 · +1.5% YoY. Source: county tax records.