2508 Myrtle St · Sioux City, IA 51103

$134,950

3 bd · 1.0 ba · 856 sqft · SingleFamily public records · 84 Days on market

Built 1900 6,098 sqft lot $158/sqft · 17% below area Est $162k · 17% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.0/10.0
• 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 MLS

Welcome to this cozy bungalow in a fantastic northwest location! Conveniently situated near Hamilton Blvd, you’ll love being close to stores, restaurants, and everyday amenities. Offering 2 bedrooms and 1 bath, this home features an updated kitchen, spacious dining room, and comfortable living area—perfect for everyday living or entertaining. Enjoy the convenience of main floor laundry, plus a large backyard and off-street parking.

Key facts

• Spacious dining room
• Large backyard
• Main floor laundry

Tags

• UPDATED KITCHEN
• SPACIOUS DINING ROOM
• COMFORTABLE LIVING AREA
• MAIN FLOOR LAUNDRY
• LARGE BACKYARD
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.7% in Sioux 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $934 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $135k implies a 575% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,853 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is F 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?
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: 1.20% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.79%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

• ARV (median comp): $161,931
• List price: $134,950
• Delta: -16.66%
• 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
2218 Myrtle St	0.16mi	2/1.0 (-1)	876 (+2%)	7mo	$102,000	$116	78
2510 Rebecca St	0.15mi	2/1.0 (-1)	816 (-5%)	9mo	$162,000	$199	73
2804 Center St	0.22mi	3/1.0	936 (+9%)	8mo	$176,650	$189	67
2063 Ross St	0.41mi	2/1.0 (-1)	872 (+2%)	11mo	$165,000	$189	64
1509 W Willis Ave	0.43mi	2/1.0 (-1)	784 (-8%)	0mo	$117,000	$149	61
1315 W 28th St	0.25mi	2/1.0 (-1)	950 (+11%)	6mo	$164,950	$174	60
1911 W 25th St	0.57mi	3/1.0	925 (+8%)	4mo	$180,000	$195	57
1215 W 16th St	0.60mi	2/1.0 (-1)	816 (-5%)	3mo	$90,000	$110	57
1715 W 25th St	0.46mi	3/1.0	937 (+10%)	7mo	$188,500	$201	57
1702 Center St	0.52mi	2/1.0 (-1)	820 (-4%)	10mo	$89,950	$110	55
3232 Idlewood St	0.71mi	2/1.0 (-1)	808 (-6%)	2mo	$139,950	$173	51
30 Stewart Ave	0.68mi	2/2.0 (-1)	932 (+9%)	6mo	$192,500	$207	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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,716
• Equity at exit: $20,121

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $24,573
• Equity at exit: $11,668

Cash invested: $37,786 (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 51103

• Home prices YoY: -23.0%
• Active inventory: 79
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,619 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$144 /mo · $1,726/yr
• Insurance: −$56
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $316

Break-even live

Break-even rent $1,219

Max offer price $134,950

Occupancy floor 76%

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: $33,738
• Closing costs: $4,048
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 36th St Sioux City, IA	3.0	2.0	1092	$1,500	$1.37	43d	1	1.29mi
705 Douglas St Sioux City, IA	2.0	2.0	1252	$1,775	$1.42	43d	5	1.48mi

Listing history 19 events

1. 2026-06-19
   days on market $134,950 Active 84 DOM
2. 2026-06-18
   days on market $134,950 Active 83 DOM
3. 2026-06-17
   days on market $134,950 Active 82 DOM
4. 2026-06-16
   days on market $134,950 Active 81 DOM
5. 2026-06-15
   days on market $134,950 Active 80 DOM
6. 2026-06-14
   days on market $134,950 Active 78 DOM
7. 2026-06-12
   days on market $134,950 Active 77 DOM
8. 2026-06-09
   days on market $134,950 Active 74 DOM
9. 2026-06-08
   days on market $134,950 Active 73 DOM
10. 2026-06-07
    pricedays on market $134,950 Active 72 DOM
11. 2026-06-05
    days on market $142,950 Active 69 DOM
12. 2026-06-02
    days on market $142,950 Active 67 DOM
13. 2026-06-01
    days on market $142,950 Active 66 DOM
14. 2026-05-31
    days on market $142,950 Active 65 DOM
15. 2026-05-30
    days on market $142,950 Active 64 DOM
16. 2026-04-24
    price $142,950 447-char remark

    Show marketing remark (447 chars)

    Welcome to this cozy bungalow in a fantastic northwest location! Conveniently situated near Hamilton Blvd, you’ll love being close to stores, restaurants, and everyday amenities. Offering 2 bedrooms and 1 bath, this home features an updated kitchen, spacious dining room, and comfortable living area—perfect for everyday living or entertaining. Enjoy the convenience of main floor laundry, plus a large backyard and off-street parking.

17. 2026-03-27
    listed $149,950 Active 447-char remark

    Show marketing remark (447 chars)

    Welcome to this cozy bungalow in a fantastic northwest location! Conveniently situated near Hamilton Blvd, you’ll love being close to stores, restaurants, and everyday amenities. Offering 2 bedrooms and 1 bath, this home features an updated kitchen, spacious dining room, and comfortable living area—perfect for everyday living or entertaining. Enjoy the convenience of main floor laundry, plus a large backyard and off-street parking.

18. 2015-11-20
    soldstatus $20,000 61-char remark

    Show marketing remark (61 chars)

    Cute 2 bedroom bungalow in great location with much to offer.

19. 2015-08-28
    listed $31,999 61-char remark

    Show marketing remark (61 chars)

    Cute 2 bedroom bungalow in great location with much to offer.

ⓘ 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: $1,726 · $144/mo
• Projected year-2 tax: $1,922 · $160/mo
• Expected delta: +$196/yr (+$16/mo · 11.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $19,428
• − Mortgage interest: −$7,559
• − Property taxes: −$1,726
• − Insurance: −$1,341
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$3,926
• Taxable income: $1,767
• Est. tax owed @ 24.0%: −$424
• After-tax cash flow: $3,364/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 17,145

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 31% Two or more races 18% Asian 4% Black 4% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Iranian 3% Portuguese 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 3% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.41%
• Current HPI: 262.3809
• 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

+346.7% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $142,950 NWIA
• 2026-03-27 Listed $149,950 NWIA
• 2015-11-20 Sold (MLS) $20,000 NWIA
• 2015-08-28 Listed $31,999 NWIA

Property tax history

+9.9%/yr

Latest (2025): $1,726 · +4.1% YoY. Source: county tax records.