1127 Washington St · Burlington, IA 52601

$42,500

4 bd · 2.0 ba · 1,809 sqft · Other public records · 235 Days on market

Built 1900 5,662 sqft lot

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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 +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

UP-Down duplex - upper 2 bedroom 1 bath - has permit Lower is vacant - rents for $475 - 2 bedroom 1 bath. Separate Meters Newer furnace - lower level To be sold as a package with: 801 S 9th - 4 Plex $50,000 MLS 6333183 235 S 9th - Duplex $39,500 MLS 6333178 508 s 10th - Duplex $27,500 MLS 6333180 518 S Central - Duplex $27,900 MLS 6333181 605 S Central - Duplex $45,000 MLS 6333182 805 s 9th - Single family $32,500 MLS 6333179 Seller will not divide- Selling As -Is

Key facts

• 5,662 sq ft lot
• Built 1900
• Listed 234 days

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Utilities: Public sewer
• Home design: Duplex (residential income property); 2 stories; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot is 0.13 acres; Subdivision: PEASLEY ADD; Directions: west on washington

Interior

• Heating & cooling: Forced air heating
• Interior features: Basement present; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $42k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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; 1 comparable units currently listed for rent nearby; 53 units permitted in Des Moines County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 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 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: 2.98% ✓
• Cap rate: 25.63%
• Cash-on-cash: 69.06%
• DSCR: 4.07
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 68.5%
• Equity multiple: 4.09×
• Total profit: $36,764
• Equity at exit: $6,337

10-year hold

• IRR: 72.7%
• Equity multiple: 8.42×
• Total profit: $88,312
• Equity at exit: $3,675

Cash invested: $11,900 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$76 /mo · $906/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $685

Break-even live

Break-even rent $400

Max offer price $42,500

Occupancy floor 41%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	44d	1	0.50mi

Listing history 21 events

1. 2026-06-19
   days on market $42,500 Active 235 DOM
2. 2026-06-18
   days on market $42,500 Active 234 DOM
3. 2026-06-17
   days on market $42,500 Active 233 DOM
4. 2026-06-16
   days on market $42,500 Active 232 DOM
5. 2026-06-15
   days on market $42,500 Active 231 DOM
6. 2026-06-14
   days on market $42,500 Active 229 DOM
7. 2026-06-12
   days on market $42,500 Active 228 DOM
8. 2026-06-09
   days on market $42,500 Active 225 DOM
9. 2026-06-09
   pricestatus $42,500 Active 224 DOM
10. 2026-06-08
    days on market $47,500 Active Under Contract 224 DOM
11. 2026-06-07
    days on market $47,500 Active Under Contract 223 DOM
12. 2026-06-07
    days on market $47,500 Active Under Contract 222 DOM
13. 2026-06-03
    days on market $47,500 Active Under Contract 219 DOM
14. 2026-06-02
    days on market $47,500 Active Under Contract 218 DOM
15. 2026-06-01
    days on market $47,500 Active Under Contract 217 DOM
16. 2026-05-31
    days on market $47,500 Active Under Contract 216 DOM
17. 2026-05-30
    days on market $47,500 Active Under Contract 215 DOM
18. 2026-04-23
    historical Active Under Contract
19. 2026-03-27
    status Active
20. 2025-12-18
    historical Active Under Contract
21. 2025-10-27
    listed $47,500 Active

ⓘ 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: $906 · $76/mo
• Projected year-2 tax: $906 · $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 2/10 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: $15,204
• − Mortgage interest: −$2,381
• − Property taxes: −$906
• − Insurance: −$212
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$1,236
• Taxable income: $8,036
• Est. tax owed @ 24.0%: −$1,929
• After-tax cash flow: $6,289/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

4 events — show timeline

• 2026-04-23 Contingent — IAR
• 2026-03-27 Relisted — IAR
• 2025-12-18 Contingent — IAR
• 2025-10-27 Listed $47,500 IAR

Property tax history

-0.6%/yr

Latest (2025): $906 · +14.7% YoY. Source: county tax records.