116 N Haynes Ave · Centerville, IA 52544

$40,000

3 bd · 3.0 ba · 1,611 sqft · MultiFamily public records · 136 Days on market

Built 1900 Fair condition 3,000 sqft lot $25/sqft · 61% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Appreciation +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Investor opportunity! This duplex offers solid cash flow potential in the heart of Centerville, IA. Owner currently covers water and trash expenses - exact amounts to be verified. A second property, 404 N. 10th. Street (Centerville, IA. ) is also available for sale by the same owner. Investors purchasing both properties together would be available for a $2,500 discount per property with an asking price of $75,000 if BOTH properties are purchased together. This is a rare chance to expand your portfolio in one move. Don't miss this value - add opportunity!

Key facts

• 3,000 sq ft lot
• Built 1900
• Listed 135 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $524/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.7% vs local median 4.0% 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.
• Zoned schools: Lakeview Elementary (math 57% / reading 60%, grade B-, #432 of 616 statewide, top 71%, 575 students, 50% FRL); Howar Middle School (math 57% / reading 66%, grade B+, #179 of 246 statewide, top 73%, 299 students, 50% FRL); Centerville High School (math 58% / reading 71%, grade B-, #211 of 336 statewide, top 70%, 404 students, 44% FRL).
• Market conditions: 108 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 $709 of equity ($277 loan paydown + $432 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $19k; list at $40k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.23% ✓
• Cap rate: 37.72%
• Cash-on-cash: 112.25%
• DSCR: 5.99
• GRM: 2.0

CMA / ARV

• ARV (median comp): $103,736
• List price: $40,000
• Delta: -61.44%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 E Wall St	0.37mi	3/1.5	1,590 (-1%)	1mo	$136,740	$86	74
515 E State St	0.19mi	3/1.0	1,302 (-19%)	2mo	$49,500	$38	56
508 E Maple St	0.18mi	4/1.5 (+1)	1,865 (+16%)	3mo	$20,000	$11	53
543 N Haynes Ave	0.30mi	3/1.0	1,248 (-22%)	2mo	$300,000	$240	51
817 S 10th St	0.49mi	3/2.0	1,256 (-22%)	2mo	$150,000	$119	47
715 N 11th St	0.51mi	3/2.5	1,344 (-17%)	3mo	$58,900	$44	47
313 W Cottage St	1.01mi	3/2.0	1,416 (-12%)	3mo	$156,500	$111	38
1006 S 18th St	0.63mi	2/2.0 (-1)	1,360 (-16%)	0mo	$182,500	$134	36
1915 Drake Ave	1.15mi	3/2.5	1,343 (-17%)	2mo	$194,500	$145	36
1227 W Washington St	0.79mi	3/2.0	1,344 (-17%)	2mo	$225,500	$168	34
1516 N 14th St	0.90mi	3/1.0	1,308 (-19%)	1mo	$180,000	$138	31
2808 Eastridge Dr	0.93mi	3/1.0	1,296 (-20%)	3mo	$125,000	$96	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.04×
• Total profit: $67,665
• Equity at exit: $13,822

10-year hold

• IRR: —
• Equity multiple: 14.63×
• Total profit: $152,686
• Equity at exit: $18,498

Cash invested: $11,200 (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: 108
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,694 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $1,048

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,694
Total (2 units)			$1,694

Break-even live

Break-even rent $368

Max offer price $40,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,070	-5% $1,059	+0% $1,048	+5% $1,036	+10% $1,025
Rent	-10% $914	-5% $981	+0% $1,048	+5% $1,115	+10% $1,181
Rate	-1.0pp $1,068	-0.5pp $1,058	base $1,048	+0.5pp $1,037	+1.0pp $1,027

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: $10,000
• Closing costs: $1,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $40,000 Active 136 DOM
2. 2026-08-07
   days on market $40,000 Active 135 DOM
3. 2026-08-06
   days on market $40,000 Active 134 DOM
4. 2026-08-05
   days on market $40,000 Active 133 DOM
5. 2026-08-04
   days on market $40,000 Active 132 DOM
6. 2026-08-03
   days on market $40,000 Active 131 DOM
7. 2026-07-31
   days on market $40,000 Active 128 DOM
8. 2026-07-30
   days on market $40,000 Active 127 DOM
9. 2026-07-29
   days on market $40,000 Active 126 DOM
10. 2026-07-27
    days on market $40,000 Active 124 DOM
11. 2026-07-25
    days on market $40,000 Active 122 DOM
12. 2026-07-24
    days on market $40,000 Active 121 DOM
13. 2026-07-23
    days on market $40,000 Active 120 DOM
14. 2026-07-22
    days on market $40,000 Active 119 DOM
15. 2026-07-21
    days on market $40,000 Active 118 DOM
16. 2026-07-18
    days on market $40,000 Active 115 DOM
17. 2026-07-16
    days on market $40,000 Active 113 DOM
18. 2026-07-15
    days on market $40,000 Active 112 DOM
19. 2026-07-14
    days on market $40,000 Active 111 DOM
20. 2026-07-13
    days on market $40,000 Active 110 DOM
21. 2026-07-12
    days on market $40,000 Active 109 DOM
22. 2026-07-12
    days on market $40,000 Active 108 DOM
23. 2026-07-10
    days on market $40,000 Active 107 DOM
24. 2026-07-09
    days on market $40,000 Active 106 DOM
25. 2026-07-09
    days on market $40,000 Active 105 DOM
26. 2026-07-07
    days on market $40,000 Active 104 DOM
27. 2026-07-06
    days on market $40,000 Active 103 DOM
28. 2026-07-05
    days on market $40,000 Active 102 DOM
29. 2026-07-04
    days on market $40,000 Active 101 DOM
30. 2026-07-03
    days on market $40,000 Active 100 DOM
31. 2026-07-02
    days on market $40,000 Active 99 DOM
32. 2026-07-01
    days on market $40,000 Active 98 DOM
33. 2026-06-30
    days on market $40,000 Active 97 DOM
34. 2026-06-29
    days on market $40,000 Active 96 DOM
35. 2026-06-28
    days on market $40,000 Active 95 DOM
36. 2026-06-27
    days on market $40,000 Active 94 DOM
37. 2026-06-18
    days on market $40,000 Active 92 DOM
38. 2026-06-17
    days on market $40,000 Active 91 DOM
39. 2026-06-17
    status $40,000 Active 90 DOM
40. 2026-06-16
    days on market $40,000 Active Under Contract 90 DOM
41. 2026-06-15
    days on market $40,000 Active Under Contract 89 DOM
42. 2026-06-13
    days on market $40,000 Active Under Contract 87 DOM
43. 2026-06-12
    days on market $40,000 Active Under Contract 86 DOM
44. 2026-06-09
    days on market $40,000 Active Under Contract 83 DOM
45. 2026-06-08
    days on market $40,000 Active Under Contract 82 DOM
46. 2026-06-07
    days on market $40,000 Active Under Contract 81 DOM
47. 2026-06-07
    days on market $40,000 Active Under Contract 80 DOM
48. 2026-06-04
    days on market $40,000 Active Under Contract 77 DOM
49. 2026-06-02
    days on market $40,000 Active Under Contract 76 DOM
50. 2026-06-01
    status $40,000 Active Under Contract 75 DOM

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $770 · $64/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 ≥104°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: $20,328
• − Mortgage interest: −$2,241
• − Property taxes: −$770
• − Insurance: −$200
• − Repairs & maintenance: −$1,626
• − Management: −$1,626
• − Depreciation: −$1,164
• Taxable income: $12,701
• Est. tax owed @ 24.0%: −$3,048
• After-tax cash flow: $9,524/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab Est. rehab $40,275–$72,495 screening

This property requires extensive repairs and maintenance, including roof replacement, exterior painting, flooring replacement, interior painting, bathroom updates, and HVAC and mechanical system upgrades. These improvements would significantly increase its resale and rental value.

Components & finishes AI

Roof metal · good

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior walls — The exterior walls are made of stone and show signs of weathering and discoloration.
• Major flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls show signs of wear and tear, with some discoloration and possible damage.
• Major bathrooms — The bathrooms appear to be in poor condition, with visible wear and tear.
• Major HVAC and mechanical systems — The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality, making it more attractive to buyers and renters. ↑
• Both exterior painting — Painting the exterior walls would improve the home's curb appeal and make it more attractive to buyers and renters. ↑
• Both flooring replacement — Replacing the flooring would improve the home's appearance and functionality, making it more attractive to buyers and renters. ↑
• Both interior painting — Painting the interior walls would improve the home's appearance and functionality, making it more attractive to buyers and renters. ↑
• Both bathroom updates — Updating the bathrooms would improve the home's appearance and functionality, making it more attractive to buyers and renters. ↑
• Both HVAC and mechanical system upgrades — Upgrading the HVAC and mechanical systems would improve the home's functionality and make it more attractive to buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Lakeview Elementary B- IA #432/616 Nat'l #8,158/41,679 Middle Howar Middle School B+ IA #179/246 Nat'l #1,620/14,009 High Centerville High School B- IA #211/336 Nat'l #2,821/17,239

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

B Composite livability gradescore 73/100

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
• County: Appanoose · 11,726 people
• Population (ZIP): 8,110
• Household income: $45,257
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 10% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in IA)

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

Price history

+110.5% since first listed

9 events — show timeline

• 2026-04-24 Relisted — IAR
• 2026-04-10 Contingent — IAR
• 2026-03-18 Listed $40,000 IAR
• 2023-08-26 Relisted — IAR
• 2023-08-11 Delisted — IAR
• 2023-08-02 Price Changed $37,500 IAR
• 2023-05-12 Listed $39,900 IAR
• 2019-04-26 Listed $29,900 IAR
• 2006-10-20 Sold (Public Records) $19,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $770 · +1.3% YoY. Source: county tax records.