1516 Tama St · Boone, IA 50036

$130,000

3 bd · 1.5 ba · 1,292 sqft · SingleFamily public records · 30 Days on market

Built 1900 10,800 sqft lot $101/sqft · 27% below area Est $178k · 27% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.4/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a wonderful opportunity to create your ideal family home or add a promising investment property to your portfolio. This 1,200+ sq. ft. , three-bedroom home offers great potential with solid fundamentals. The main level features a spacious living room, dining room, kitchen, and a full bath, along with a convenient laundry area just off the kitchen. One bedroom is located on the main floor, with additional bedroom space upstairs. Situated on a large, level lot, the property also includes a two car detached garage and an attached storage shed at the rear of the garage--ideal for tools, equipment, and extra storage needs. Come check this one out!!!

Key facts

• Laundry area
• Kitchen
• Large level lot

Tags

• SPACIOUS LIVING ROOM
• DINING ROOM
• KITCHEN
• FULL BATH
• LAUNDRY AREA
• LARGE LEVEL LOT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story home; Vinyl siding; Asphalt shingle roof; Zoned R; Concrete driveway/road
• Construction: Vinyl siding construction; Asphalt shingle roof
• Exterior features: Patio (open); Play structure; Outdoor storage

Interior

• Kitchen: Dishwasher; Microwave; Stove; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Separate/formal dining room
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (18.2% below list).
• Recommended offer: $106k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.7% 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.
• Zoned schools: Franklin Elementary School (math 75% / reading 69%, grade A-, #181 of 616 statewide, top 34%, 357 students, 41% FRL); Boone Middle School (math 48% / reading 63%, grade B-, #199 of 246 statewide, top 81%, 582 students, 39% FRL); Boone High School (math 60% / reading 69%, grade B-, #211 of 336 statewide, top 70%, 711 students, 36% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 216 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $130k implies a 59% 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 $106,333 (18.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 10.2

CMA / ARV

• ARV (median comp): $177,674
• List price: $130,000
• Delta: -26.83%
• 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
1014 14th St	0.14mi	3/1.0	1,296 (+0%)	5mo	$164,000	$127	87
1628 Marshall St	0.13mi	3/1.0	1,342 (+4%)	2mo	$187,900	$140	84
811 12th St	0.33mi	3/2.0	1,248 (-3%)	6mo	$210,000	$168	72
615 11th St	0.51mi	3/1.0	1,307 (+1%)	4mo	$100,000	$77	69
1807 14th St	0.57mi	4/1.5 (+1)	1,268 (-2%)	3mo	$189,000	$149	63
2003 Linn St	0.35mi	3/1.0	1,410 (+9%)	6mo	$122,500	$87	61
2109 Marshall St	0.43mi	4/1.0 (+1)	1,267 (-2%)	11mo	$215,000	$170	61
1322 7th St	0.66mi	3/1.5	1,406 (+9%)	2mo	$225,000	$160	53
403 16th St	0.60mi	3/1.0	1,170 (-9%)	5mo	$42,500	$36	50
1203 Carroll St	0.52mi	3/1.0	1,123 (-13%)	6mo	$133,000	$118	47
515 8th St	0.72mi	3/1.0	1,464 (+13%)	2mo	$152,000	$104	41
1211 8th St	0.53mi	3/1.0	1,099 (-15%)	10mo	$61,500	$56	40

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: -21.3%
• Equity multiple: 0.26×
• Total profit: $-26,912
• Equity at exit: $19,383

10-year hold

• IRR: -14.8%
• Equity multiple: 0.15×
• Total profit: $-30,860
• Equity at exit: $11,240

Cash invested: $36,400 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 216
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$196 /mo · $2,358/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-92

Break-even live

Break-even rent $1,180

Max offer price $113,682

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-56	+0% $-92	+5% $-129	+10% $-166
Rent	-10% $-176	-5% $-134	+0% $-92	+5% $-50	+10% $-8
Rate	-1.0pp $-27	-0.5pp $-59	base $-92	+0.5pp $-126	+1.0pp $-160

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2160 Cedar St Boone, IA	3.0	1.0	1008	$1,045	$1.04	46d	2	0.50mi
411 W 9th St Boone, IA	3.0	2.0	1275	$1,100	$0.86	45d	1	1.26mi

Listing history 15 events

1. 2026-06-12
   statusdays on market $130,000 Pending 30 DOM
2. 2026-06-09
   days on market $130,000 Active 28 DOM
3. 2026-06-08
   days on market $130,000 Active 27 DOM
4. 2026-06-07
   days on market $130,000 Active 26 DOM
5. 2026-06-05
   days on market $130,000 Active 24 DOM
6. 2026-06-04
   days on market $130,000 Active 22 DOM
7. 2026-06-02
   days on market $130,000 Active 21 DOM
8. 2026-06-01
   days on market $130,000 Active 20 DOM
9. 2026-05-31
   days on market $130,000 Active 19 DOM
10. 2026-05-31
    days on market $130,000 Active 18 DOM
11. 2026-05-12
    listed $140,000 Active 666-char remark
12. 2026-05-11
    listed $140,000 Active 661-char remark

    Show marketing remark (661 chars)

    Discover a wonderful opportunity to create your ideal family home or add a promising investment property to your portfolio. This 1,200+ sq. ft. , three-bedroom home offers great potential with solid fundamentals. The main level features a spacious living room, dining room, kitchen, and a full bath, along with a convenient laundry area just off the kitchen. One bedroom is located on the main floor, with additional bedroom space upstairs. Situated on a large, level lot, the property also includes a two car detached garage and an attached storage shed at the rear of the garage--ideal for tools, equipment, and extra storage needs. Come check this one out!!!

13. 2014-06-26
    soldstatus $82,000
14. 2014-06-25
    soldstatus $82,000

    Show marketing remark (383 chars)

    Perfect starter home. Should work with FHA, VA and Rural Development financing. 3 bdrm, 1 bath, enclosed front and back porches. Nicely finished. Large living and dining room, bedroom on main level. 2 bedrooms upstairs. All windows replaced. Home is well cared for. Large 2 car detached garage with storage shed attached to it. Seller is offering one year home warranty to the buyer.

15. 2014-03-20
    listed $83,500

    Show marketing remark (383 chars)

    Perfect starter home. Should work with FHA, VA and Rural Development financing. 3 bdrm, 1 bath, enclosed front and back porches. Nicely finished. Large living and dining room, bedroom on main level. 2 bedrooms upstairs. All windows replaced. Home is well cared for. Large 2 car detached garage with storage shed attached to it. Seller is offering one year home warranty to the buyer.

ⓘ 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: $2,358 · $196/mo
• Projected year-2 tax: $2,358 · $196/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,760
• − Mortgage interest: −$7,282
• − Property taxes: −$2,358
• − Insurance: −$650
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$3,782
• Taxable loss: −$3,353
• Est. tax savings @ 24.0%: +$805
• After-tax cash flow: $-304/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

+55.7% since first listed

9 events — show timeline

• 2026-06-11 Pending — CIBOR
• 2026-06-11 Pending — DMMLS
• 2026-05-22 Price Changed $130,000 CIBOR
• 2026-05-22 Price Changed $130,000 DMMLS
• 2026-05-12 Listed $140,000 DMMLS
• 2026-05-11 Listed $140,000 CIBOR
• 2014-06-26 Sold (Public Records) $82,000 Public Records
• 2014-06-25 Sold (MLS) $82,000 CIBOR
• 2014-03-20 Listed $83,500 CIBOR

Property tax history

+4.8%/yr

Latest (2025): $2,358 · +4.1% YoY. Source: county tax records.