404 B St. St · Charles City, IA 50616

$62,250

3 bd · 2.0 ba · 1,755 sqft · SingleFamily public records · 54 Days on market

Built 1900 $35/sqft · 47% below area Est $97k · 36% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price …. 3 Bedroom 1.25 Bath Home with a 2 Stall Detached Garage. Several updated windows throughout. Butcher Block Counter Top, and updated Pex waterlines. Attic has a bonus playroom.

Key facts

• Updated windows
• Bonus playroom
• 2 garage spots

Tags

• UPDATED WINDOWS
• BUTCHER BLOCK COUNTER TOP
• UPDATED PEX WATERLINES
• BONUS PLAYROOM

Property features AI

Exterior

• Parking: Detached asphalt driveway; 2-car garage
• Home design: Single-family residence; 2 stories; Residential property
• Construction: RG/GENERAL RES zoning
• Exterior features: Deck; Asphalt roof

Interior

• Heating & cooling: Forced air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 6.5% in Charles City — 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 77/100 on livability (#161 in IA, #2,944 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Charles City Community School District (town): math 52% / reading 61% proficiency, ranked #262 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 70 active listings in the ZIP; 38 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $430 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Floyd 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $60,382 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.02% ✓
• Cap rate: 17.57%
• Cash-on-cash: 40.27%
• DSCR: 2.79
• GRM: 4.1

CMA / ARV

• ARV (median comp): $96,669
• List price: $62,250
• Delta: -35.60%
• 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
317 4th Ave	0.15mi	3/2.0	1,864 (+6%)	1mo	$161,000	$86	82
306 2nd Ave	0.20mi	3/2.5	1,859 (+6%)	3mo	$133,000	$72	76
102 3rd Ave	0.12mi	3/2.0	1,607 (-8%)	5mo	$105,000	$65	76
714 6th Ave. Ave	0.51mi	3/2.0	1,688 (-4%)	6mo	$145,000	$86	65
1504 Clark St St	0.36mi	2/2.0 (-1)	1,819 (+4%)	10mo	$79,900	$44	64
714 9th Ave Ave	0.57mi	4/2.0 (+1)	1,822 (+4%)	6mo	$140,000	$77	57
514 8th Ave	0.37mi	3/2.0	1,542 (-12%)	9mo	$88,000	$57	55
105 Maple Ave	0.41mi	3/1.5	1,942 (+11%)	11mo	$160,000	$82	52
600 Freeman St	0.45mi	3/2.0	1,540 (-12%)	8mo	$142,500	$93	52
204 Spriggs St	0.63mi	3/1.0	1,684 (-4%)	11mo	$82,000	$49	51
1001 Freeman St	0.70mi	2/2.0 (-1)	1,840 (+5%)	6mo	$140,000	$76	49
203 Clark St	0.66mi	2/2.0 (-1)	1,592 (-9%)	9mo	$139,000	$87	41

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: 36.7%
• Equity multiple: 2.56×
• Total profit: $27,177
• Equity at exit: $9,282

10-year hold

• IRR: 43.3%
• Equity multiple: 5.11×
• Total profit: $71,667
• Equity at exit: $5,382

Cash invested: $17,430 (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 50616

• Home prices YoY: -19.7%
• Active inventory: 70
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$326
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $585

Break-even live

Break-even rent $518

Max offer price $62,250

Occupancy floor 49%

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: $15,562
• Closing costs: $1,868
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $62,250 Active 54 DOM
2. 2026-06-17
   days on market $62,250 Active 53 DOM
3. 2026-06-16
   days on market $62,250 Active 52 DOM
4. 2026-06-15
   days on market $62,250 Active 51 DOM
5. 2026-06-13
   days on market $62,250 Active 49 DOM
6. 2026-06-12
   remarks 184-char remark
7. 2026-06-12
   pricedays on market $62,250 Active 48 DOM
8. 2026-06-09
   days on market $65,000 Active 45 DOM
9. 2026-06-08
   days on market $65,000 Active 44 DOM
10. 2026-06-07
    days on market $65,000 Active 43 DOM
11. 2026-06-07
    days on market $65,000 Active 42 DOM
12. 2026-06-04
    days on market $65,000 Active 39 DOM
13. 2026-06-02
    days on market $65,000 Active 38 DOM
14. 2026-06-01
    days on market $65,000 Active 37 DOM
15. 2026-05-31
    days on market $65,000 Active 36 DOM
16. 2026-05-31
    days on market $65,000 Active 35 DOM
17. 2026-05-10
    price $65,000 175-char remark
18. 2026-04-25
    listed $69,999 Active 175-char remark
19. 2004-11-30
    soldstatus $62,500
20. 2002-02-14
    soldstatus $40,000
21. 1989-03-10
    soldstatus $25,000

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $831 · $69/mo
• Expected delta: +$147/yr (+$12/mo · 21.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 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: $15,104
• − Mortgage interest: −$3,487
• − Property taxes: −$684
• − Insurance: −$311
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$1,811
• Taxable income: $6,395
• Est. tax owed @ 24.0%: −$1,535
• After-tax cash flow: $5,485/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: Charles City Community School District
• NCES district ID: 1907080
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 61% ▲ 9.00%
• Median HH income: $41,414
• Composite: 47.32/100
• National rank: #2299
• State rank: #262 of 289 in IA

Livability — Charles City

• Score: 77/100
• State rank: #161
• US rank: #2944

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: Charles City, IA
• City population: 9,419
• Population (ZIP): 9,419

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 15,524 people
• By 2030: 15,254 · -1.7%
• By 2040: 14,830 · -4.5%
• By 2050: 14,660 · -5.6%
• By 2075: 15,548 · +0.2%
• By 2100: 17,406 · +12.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 6% Scandinavian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Floyd

• 2024 margin: Strong R (+25.7) · D 36.5% · R 62.2% · Other 1.3%
• 2008→2024 swing: -47.6pp toward R · 2008: 21.9pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+19.4 2016: R+14.9 2012: D+14.7 2008: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.03%
• Current HPI: 187.4742
• 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

+149.0% since first listed

6 events — show timeline

• 2026-06-11 Price Changed $62,250 Greater Mason BOR
• 2026-05-10 Price Changed $65,000 Greater Mason BOR
• 2026-04-25 Listed $69,999 Greater Mason BOR
• 2004-11-30 Sold (Public Records) $62,500 Public Records
• 2002-02-14 Sold (Public Records) $40,000 Public Records
• 1989-03-10 Sold (Public Records) $25,000 Public Records

Property tax history

-3.9%/yr

Latest (2025): $684 · +0.9% YoY. Source: county tax records.