809 Champa St · Boone, IA 50036

$59,000

1 bd · 1.0 ba · 864 sqft · SingleFamily public records · 133 Days on market

Built 1940 10,800 sqft lot $68/sqft · 54% 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 +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

Key facts

• Ample outdoor space
• Large lot
• Privacy fence

Tags

• LARGE LOT
• TWO CAR DETACHED GARAGE
• TWO ADDITIONAL SHEDS
• PRIVACY FENCE
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($803 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.6% in Boone — 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 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 215 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y ago; this cycle's ask has dropped $16k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 B-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: 1.36% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 6.1

CMA / ARV

• ARV (median comp): $128,100
• List price: $59,000
• Delta: -53.94%
• 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
1536 13th St	0.36mi	2/1.0 (+1)	868 (+0%)	12mo	$104,000	$120	68
804 Argo St	0.05mi	2/1.0 (+1)	792 (-8%)	15mo	$124,000	$157	66
204 Benton St	0.61mi	2/1.0 (+1)	872 (+1%)	1mo	$101,000	$116	64
1605 5th St	0.23mi	2/1.0 (+1)	830 (-4%)	17mo	$144,000	$173	64
621 Cedar St	0.31mi	1/1.0	976 (+13%)	2mo	$121,900	$125	62
1721 13th St	0.35mi	2/1.0 (+1)	864 (0%)	21mo	$142,500	$165	61
1716 2nd St	0.47mi	2/1.0 (+1)	820 (-5%)	5mo	$62,900	$77	60
1714 3rd St	0.40mi	2/1.0 (+1)	935 (+8%)	13mo	$102,000	$109	52
111 S Benton St	0.71mi	2/1.0 (+1)	917 (+6%)	10mo	$185,000	$202	43
1621 Linn St	0.72mi	2/2.5 (+1)	884 (+2%)	12mo	$245,000	$277	42
1616 First St	0.54mi	2/1.5 (+1)	928 (+7%)	23mo	$164,900	$178	37
1024 3rd St	0.69mi	2/1.0 (+1)	776 (-10%)	16mo	$125,000	$161	33

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,212
• Equity at exit: $8,797

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $15,060
• Equity at exit: $5,101

Cash invested: $16,520 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 215
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $803 high
• Mortgage (P&I): −$309
• Tax from tax record: −$132 /mo · $1,586/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $168

Break-even live

Break-even rent $590

Max offer price $59,000

Occupancy floor 74%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1202 8th St Unit 3 Boone, IA	2.0	1.0	620	$825	$1.33	43d	1	0.44mi
1104 8th St Boone, IA	1.0	1.0	600	$647	$1.08	13d	3	0.53mi
724 7th St Unit 2 Boone, IA	2.0	1.0	700	$825	$1.18	43d	1	0.85mi
221 Corporal Roger Snedden Dr Unit 6 Boone, IA	2.0	1.0	850	$975	$1.15	43d	1	0.88mi
610 Greene St Unit 1 Boone, IA	1.0	1.0	580	$775	$1.34	43d	1	0.89mi
608 Greene St Unit 735-5 Boone, IA	1.0	1.5	580	$775	$1.34	43d	1	0.89mi

Listing history 38 events

1. 2026-06-18
   days on market $59,000 Active 133 DOM
2. 2026-06-17
   price $59,000 Active 132 DOM
3. 2026-06-17
   days on market $64,000 Active 132 DOM
4. 2026-06-16
   days on market $64,000 Active 131 DOM
5. 2026-06-15
   days on market $64,000 Active 130 DOM
6. 2026-06-13
   days on market $64,000 Active 128 DOM
7. 2026-06-12
   days on market $64,000 Active 127 DOM
8. 2026-06-09
   days on market $64,000 Active 124 DOM
9. 2026-06-08
   days on market $64,000 Active 123 DOM
10. 2026-06-07
    days on market $64,000 Active 122 DOM
11. 2026-06-05
    days on market $64,000 Active 120 DOM
12. 2026-06-04
    days on market $64,000 Active 118 DOM
13. 2026-06-02
    days on market $64,000 Active 117 DOM
14. 2026-06-01
    days on market $64,000 Active 116 DOM
15. 2026-05-31
    days on market $64,000 Active 115 DOM
16. 2026-05-31
    days on market $64,000 Active 114 DOM
17. 2026-04-15
    price $64,000 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

18. 2026-04-15
    price $64,000 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

19. 2026-02-15
    price $69,000 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

20. 2026-02-15
    price $69,000 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

21. 2026-02-05
    listed $75,000 Active 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

22. 2026-02-05
    listed $75,000 Active 473-char remark

    Show marketing remark (473 chars)

    BEING SOLD AS-IS. Opportunity awaits! This property is ideal for investors, or landlords searching for their next renovation project. The home will require updates but offers strong potential and sweat-equity opportunity! Situated on a large lot, the property features a two-car detached garage, two additional sheds, and a privacy fence. With ample outdoor space and room to add value, this is great chance for a beautiful transformation. Bring your ideas and imagination.

23. 2025-07-01
    historical
24. 2025-06-30
    price $62,000
25. 2025-06-24
    price $67,000
26. 2025-06-17
    price $70,000
27. 2025-06-10
    price $75,000
28. 2025-05-30
    listed $80,000 Active
29. 2018-04-20
    historical
30. 2017-12-29
    listed $65,000
31. 2017-12-21
    listed $65,000
32. 2016-05-06
    historical
33. 2016-02-20
    listed $64,000
34. 2016-02-19
    listed $64,000
35. 2015-08-09
    listed $64,000
36. 2014-07-18
    listed $62,900
37. 2012-06-26
    soldstatus $53,000
38. 2009-11-14
    soldstatus $33,000

ⓘ 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: $1,586 · $132/mo
• Projected year-2 tax: $1,586 · $132/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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $9,639
• − Mortgage interest: −$3,305
• − Property taxes: −$1,586
• − Insurance: −$295
• − Repairs & maintenance: −$771
• − Management: −$771
• − Depreciation: −$1,716
• Taxable income: $1,194
• Est. tax owed @ 24.0%: −$287
• After-tax cash flow: $1,734/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

+93.9% since first listed

22 events — show timeline

• 2026-04-15 Price Changed $64,000 CIBOR
• 2026-04-15 Price Changed $64,000 DMMLS
• 2026-02-15 Price Changed $69,000 CIBOR
• 2026-02-15 Price Changed $69,000 DMMLS
• 2026-02-05 Listed $75,000 CIBOR
• 2026-02-05 Listed $75,000 DMMLS
• 2025-07-01 Listing Removed — DMMLS
• 2025-06-30 Price Changed $62,000 DMMLS
• 2025-06-24 Price Changed $67,000 DMMLS
• 2025-06-17 Price Changed $70,000 DMMLS
• 2025-06-10 Price Changed $75,000 DMMLS
• 2025-05-30 Listed $80,000 DMMLS
• 2018-04-20 Listing Removed — DMMLS
• 2017-12-29 Listed $65,000 DMMLS
• 2017-12-21 Listed $65,000 CIBOR
• 2016-05-06 Listing Removed — DMMLS
• 2016-02-20 Listed $64,000 CIBOR
• 2016-02-19 Listed $64,000 DMMLS
• 2015-08-09 Listed $64,000 CIBOR
• 2014-07-18 Listed $62,900 CIBOR
• 2012-06-26 Sold (Public Records) $53,000 Public Records
• 2009-11-14 Sold (Public Records) $33,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,586 · +4.2% YoY. Source: county tax records.