100 S Marshall St · Burlington, IA 52601

$19,900

3 bd · 1.0 ba · 2,347 sqft · SingleFamily · 246 Days on market

Built 1908 Poor condition 8,276 sqft lot $8/sqft · 74% below area ↓ 51% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

Key facts

• 8,276 sq ft lot
• Garage
• Built 1908

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 58.1% vs local median 6.0% in Burlington — 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 (#287 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Burlington Community School District (town): math 42% / reading 54% proficiency, ranked #286 of 289 in IA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 184 active listings in the ZIP; 53 units permitted in Des Moines County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Des Moines 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D 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. 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?
8. 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.
9. 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.
10. 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: 6.34% ✓
• Cap rate: 58.11%
• Cash-on-cash: 185.08%
• DSCR: 9.23
• GRM: 1.3

CMA / ARV

• ARV (median comp): $76,183
• List price: $19,900
• Delta: -73.88%
• 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
105 N Woodlawn Ave	0.06mi	4/2.0 (+1)	2,186 (-7%)	1mo	$22,500	$10	76
205 South Marshall St	0.10mi	4/2.0 (+1)	2,406 (+2%)	9mo	$75,000	$31	75
509 Summer St	0.47mi	4/2.5 (+1)	2,254 (-4%)	2mo	$19,500	$9	59
513 Hagemann Ave	0.63mi	3/2.0	2,392 (+2%)	7mo	$100,000	$42	57
119 S 8th St	0.35mi	3/2.5	2,082 (-11%)	5mo	$90,000	$43	55
407 S Gunnison St	0.27mi	4/2.0 (+1)	1,999 (-15%)	2mo	$159,200	$80	52
824 N 8th St	0.69mi	3/2.0	2,184 (-7%)	2mo	$144,000	$66	50
513 Elm St	0.57mi	4/1.5 (+1)	2,084 (-11%)	5mo	$47,000	$23	43
815 Summer St	0.75mi	4/1.5 (+1)	2,200 (-6%)	11mo	$129,000	$59	38
2500 Sunrise Ln	0.71mi	4/3.0 (+1)	2,265 (-4%)	13mo	$262,450	$116	37
703 S 13th St	0.74mi	2/1.0 (-1)	2,043 (-13%)	13mo	$9,000	$4	28
1126 Franklin St	0.73mi	4/2.0 (+1)	2,082 (-11%)	16mo	$17,000	$8	25

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: —
• Equity multiple: 10.25×
• Total profit: $51,529
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 21.72×
• Total profit: $115,426
• Equity at exit: $1,721

Cash invested: $5,572 (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 52601

• Active inventory: 184
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$104
• Tax est. 1.5%: −$25 /mo · $298/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $859

Break-even live

Break-even rent $174

Max offer price $19,900

Occupancy floor 27%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $19,900 Active 246 DOM
2. 2026-06-18
   days on market $19,900 Active 245 DOM
3. 2026-06-17
   days on market $19,900 Active 244 DOM
4. 2026-06-16
   days on market $19,900 Active 243 DOM
5. 2026-06-15
   days on market $19,900 Active 242 DOM
6. 2026-06-14
   days on market $19,900 Active 240 DOM
7. 2026-06-12
   pricedays on market $19,900 Active 239 DOM
8. 2026-06-09
   days on market $24,500 Active 236 DOM
9. 2026-06-08
   days on market $24,500 Active 235 DOM
10. 2026-06-07
    days on market $24,500 Active 234 DOM
11. 2026-06-07
    days on market $24,500 Active 233 DOM
12. 2026-06-03
    days on market $24,500 Active 230 DOM
13. 2026-06-02
    days on market $24,500 Active 229 DOM
14. 2026-06-01
    days on market $24,500 Active 228 DOM
15. 2026-05-31
    days on market $24,500 Active 227 DOM
16. 2026-05-30
    days on market $24,500 Active 226 DOM
17. 2026-03-27
    price $24,500 253-char remark

    Show marketing remark (253 chars)

    Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

18. 2026-01-07
    price $27,500 253-char remark

    Show marketing remark (253 chars)

    Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

19. 2025-12-19
    price $39,900 253-char remark

    Show marketing remark (253 chars)

    Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

20. 2025-11-11
    price $41,500 253-char remark

    Show marketing remark (253 chars)

    Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

21. 2025-10-16
    listed $49,900 Active 253-char remark

    Show marketing remark (253 chars)

    Huge home with lots of potential. Could be duplexed although one unit currently. Very little would have to be done to revert it back to a duplex. Needs some TLC but lots of character in this home. house is 100 Marshall by address but is actually 102-104

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,143
• − Mortgage interest: −$1,115
• − Property taxes: −$298
• − Insurance: −$100
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$579
• Taxable income: $10,628
• Est. tax owed @ 24.0%: −$2,551
• After-tax cash flow: $7,762/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 · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to address the roof, exterior, and interior systems.

Repairs flagged

• Major roof — visible wear
• Major exterior siding — damaged
• Major kitchen cabinets — in disrepair
• Major bathroom fixtures — in disrepair
• Major HVAC unit — exposed

Value-add opportunities

• Resale roof replacement — major safety and aesthetic issue
• Resale exterior siding repair — enhances curb appeal
• Resale kitchen cabinets replacement — modernizes space
• Resale bathroom fixtures replacement — modernizes space
• Both HVAC unit replacement — improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · visible wear	Major	$15,000–50,000
exterior siding · damaged	Major	$15,000–50,000
kitchen cabinets · in disrepair	Major	$15,000–50,000
bathroom fixtures · in disrepair	Major	$15,000–50,000
HVAC unit · exposed	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale roof replacement — major safety and aesthetic issue ↑
• Resale exterior siding repair — enhances curb appeal ↑
• Resale kitchen cabinets replacement — modernizes space ↑
• Resale bathroom fixtures replacement — modernizes space ↑
• Both HVAC unit replacement — improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Burlington Community School District
• NCES district ID: 1905790
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $41,833
• Composite: 40.3/100
• National rank: #3753
• State rank: #286 of 289 in IA

Livability — Burlington

• Score: 73/100
• State rank: #287
• US rank: #5540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, IA
• County: Des Moines County · 27,341 people
• City population: 27,341
• Metro: Burlington, IA-IL
• Population (ZIP): 27,341
• Household income: $60,983
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 963.0

Population outlook (Des Moines County) Hauer SSP2

• Today (2025): 39,735 people
• By 2030: 39,257 · -1.2%
• By 2040: 38,090 · -4.1%
• By 2050: 37,156 · -6.5%
• By 2075: 36,905 · -7.1%
• By 2100: 37,222 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Des Moines

• 2024 margin: R (+15.1) · D 41.8% · R 56.8% · Other 1.4%
• 2008→2024 swing: -38.1pp toward R · 2008: 23.0pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+8.5 2016: R+7.0 2012: D+18.5 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.48%
• Current HPI: 149.7662
• Rent YoY: —
• Metro: Burlington, IA-IL
• 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

-50.9% since first listed

5 events — show timeline

• 2026-03-27 Price Changed $24,500 Muscatine BOR
• 2026-01-07 Price Changed $27,500 Muscatine BOR
• 2025-12-19 Price Changed $39,900 Muscatine BOR
• 2025-11-11 Price Changed $41,500 Muscatine BOR
• 2025-10-16 Listed $49,900 Muscatine BOR