504 S Main St · Charles City, IA 50616

$59,000

4 bd · 2.0 ba · 1,388 sqft · SingleFamily public records · 303 Days on market

Built 1920 Fair condition 8,850 sqft lot $43/sqft · 55% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 story, 4 bedroom, 2 bathroom home has a main floor laundry, large living room and dining room. The renter pays $970 per month and the tenant pays all of the utilities. Annual taxes: $602.

Key facts

• 8,850 sq ft lot
• Built 1920
• Listed 303 days

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$131,981) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 6.4% 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.
• Zoned schools: Washington Elementary School (375 students, 63% FRL); Charles City Ms (math 51% / reading 59%, grade B-, #201 of 246 statewide, top 82%, 423 students, 54% FRL); Charles City High School (math 47% / reading 67%, grade C, #279 of 336 statewide, top 85%, 534 students, 47% FRL).
• Market conditions: 111 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $408 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 303 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 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 1920 — 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. 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: 2.47% ✓
• Cap rate: 21.93%
• Cash-on-cash: 55.84%
• DSCR: 3.48
• GRM: 3.4

CMA / ARV

• ARV (median comp): $131,981
• List price: $59,000
• Delta: -55.30%
• 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
510 S Jackson St	0.07mi	3/1.5 (-1)	1,334 (-4%)	10mo	$155,000	$116	75
410 Clinton St	0.11mi	3/1.5 (-1)	1,280 (-8%)	3mo	$70,000	$55	72
812 8th St	0.39mi	3/2.0 (-1)	1,391 (+0%)	11mo	$140,000	$101	68
1105 Gilbert St	0.32mi	3/1.5 (-1)	1,492 (+8%)	0mo	$35,000	$23	65
607 9th St	0.45mi	3/1.0 (-1)	1,435 (+3%)	1mo	$95,000	$66	64
1007 11th St	0.72mi	3/1.5 (-1)	1,344 (-3%)	1mo	$181,000	$135	54
600 Freeman St	0.31mi	3/2.0 (-1)	1,540 (+11%)	11mo	$142,500	$93	53
1007 Cedar St	0.36mi	3/1.5 (-1)	1,508 (+9%)	11mo	$129,000	$86	53
404 B St. St	0.65mi	3/1.2 (-1)	1,456 (+5%)	2mo	$58,500	$40	52
1107 Hildreth St	0.45mi	3/3.0 (-1)	1,322 (-5%)	13mo	$122,500	$93	51
903 S Johnson St	0.29mi	3/1.0 (-1)	1,536 (+11%)	14mo	$107,500	$70	48
1207 Gilbert St	0.39mi	5/1.0 (+1)	1,576 (+14%)	12mo	$63,450	$40	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: 54.2%
• Equity multiple: 3.39×
• Total profit: $39,405
• Equity at exit: $8,797

10-year hold

• IRR: 59.3%
• Equity multiple: 6.89×
• Total profit: $97,384
• Equity at exit: $5,101

Cash invested: $16,520 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 14 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $129,900 ($89/sqft)
• Median days on market: 89 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +7.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50616

• Home prices YoY: -19.7%
• Active inventory: 111
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$50 /mo · $602/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $769

Break-even live

Break-even rent $486

Max offer price $59,000

Occupancy floor 42%

Sensitivity live

Price	-10% $802	-5% $785	+0% $769	+5% $752	+10% $735
Rent	-10% $653	-5% $711	+0% $769	+5% $826	+10% $884
Rate	-1.0pp $798	-0.5pp $784	base $769	+0.5pp $753	+1.0pp $738

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: $14,750
• Closing costs: $1,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1030 13th Ave Charles City, IA	1.0–3.0	1.0–2.0	926	$1,927	$2.08	139d	28	1.35mi
1004 20th Ave Charles City, IA	3.0	2.0	960	$975	$1.02	119d	1	1.44mi

Listing history 50 events

1. 2026-09-23
   days on market $59,000 Active 303 DOM
2. 2026-09-21
   days on market $59,000 Active 301 DOM
3. 2026-09-20
   days on market $59,000 Active 300 DOM
4. 2026-09-19
   days on market $59,000 Active 299 DOM
5. 2026-09-18
   days on market $59,000 Active 298 DOM
6. 2026-09-17
   days on market $59,000 Active 297 DOM
7. 2026-09-17
   days on market $59,000 Active 296 DOM
8. 2026-09-15
   days on market $59,000 Active 295 DOM
9. 2026-09-14
   days on market $59,000 Active 294 DOM
10. 2026-09-13
    days on market $59,000 Active 293 DOM
11. 2026-09-12
    days on market $59,000 Active 292 DOM
12. 2026-09-11
    days on market $59,000 Active 291 DOM
13. 2026-09-05
    days on market $59,000 Active 285 DOM
14. 2026-09-04
    days on market $59,000 Active 284 DOM
15. 2026-09-03
    days on market $59,000 Active 283 DOM
16. 2026-09-02
    days on market $59,000 Active 282 DOM
17. 2026-08-30
    days on market $59,000 Active 279 DOM
18. 2026-08-29
    days on market $59,000 Active 278 DOM
19. 2026-08-28
    days on market $59,000 Active 277 DOM
20. 2026-08-27
    days on market $59,000 Active 276 DOM
21. 2026-08-26
    days on market $59,000 Active 275 DOM
22. 2026-08-25
    days on market $59,000 Active 274 DOM
23. 2026-08-24
    days on market $59,000 Active 273 DOM
24. 2026-08-23
    days on market $59,000 Active 272 DOM
25. 2026-08-22
    days on market $59,000 Active 271 DOM
26. 2026-08-21
    days on market $59,000 Active 270 DOM
27. 2026-08-20
    days on market $59,000 Active 269 DOM
28. 2026-08-19
    days on market $59,000 Active 268 DOM
29. 2026-08-18
    days on market $59,000 Active 267 DOM
30. 2026-08-17
    days on market $59,000 Active 266 DOM
31. 2026-08-16
    days on market $59,000 Active 265 DOM
32. 2026-08-15
    days on market $59,000 Active 264 DOM
33. 2026-08-14
    days on market $59,000 Active 263 DOM
34. 2026-08-13
    days on market $59,000 Active 262 DOM
35. 2026-08-12
    days on market $59,000 Active 261 DOM
36. 2026-08-11
    days on market $59,000 Active 260 DOM
37. 2026-08-10
    days on market $59,000 Active 259 DOM
38. 2026-08-09
    days on market $59,000 Active 258 DOM
39. 2026-08-08
    days on market $59,000 Active 257 DOM
40. 2026-08-07
    days on market $59,000 Active 256 DOM
41. 2026-08-06
    days on market $59,000 Active 255 DOM
42. 2026-08-05
    days on market $59,000 Active 254 DOM
43. 2026-08-04
    days on market $59,000 Active 253 DOM
44. 2026-08-03
    days on market $59,000 Active 252 DOM
45. 2026-07-31
    days on market $59,000 Active 249 DOM
46. 2026-07-30
    days on market $59,000 Active 248 DOM
47. 2026-07-29
    days on market $59,000 Active 247 DOM
48. 2026-07-27
    days on market $59,000 Active 245 DOM
49. 2026-07-25
    days on market $59,000 Active 243 DOM
50. 2026-07-24
    days on market $59,000 Active 242 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: $602 · $50/mo
• Projected year-2 tax: $764 · $64/mo
• Expected delta: +$162/yr (+$14/mo · 26.9%)

ⓘ 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 ≥103°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: $17,511
• − Mortgage interest: −$3,305
• − Property taxes: −$602
• − Insurance: −$295
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$1,716
• Taxable income: $8,791
• Est. tax owed @ 24.0%: −$2,110
• After-tax cash flow: $7,114/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $34,700–$62,460 screening

This 2-story home requires significant repairs and maintenance, including a new roof, repainting, and replacing the siding. Upgrading the HVAC system would also improve the home's comfort and energy efficiency. The home has potential for significant value increase with these improvements.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $20,000–$60,000 screening

• Major Windows (windows) — Visible broken window panes
• Major Electrical (electrical) — Exposed wiring and damaged electrical box

Repairs flagged

• Major roof — The satellite image suggests potential roof damage.
• Major siding — The siding is peeling and needs repainting.
• Major paint — The paint is faded and needs repainting.
• Major HVAC/mechanicals — The roof and exterior suggest potential issues that may affect the HVAC and plumbing systems.

Value-add opportunities

• Both painting the exterior and interior — Painting the exterior and interior will improve the home's curb appeal and interior condition, making it more attractive to potential buyers and renters. ↑
• Both repairing the roof — Repairing the roof will address a major issue and prevent further damage, improving the home's overall condition and value. ↑
• Both replacing the siding — Replacing the peeling siding will improve the home's appearance and increase its value. ↑
• Both upgrading the HVAC system — Upgrading the HVAC system will improve the home's comfort and energy efficiency, making it more attractive to potential 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.

D Composite school gradezoned avg 57/100

Zoned Schools

Elementary Lincoln Elementary School B- IA #390/616 Nat'l #7,252/41,679 Middle Charles City Ms B- IA #201/246 Nat'l #2,482/14,009 High Charles City High School C IA #279/336 Nat'l #4,077/17,239

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

B Composite livability gradescore 77/100

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
• County: Floyd · 15,524 people
• City population: 9,419
• Population (ZIP): 9,419
• Household income: $63,226
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 4% of renters

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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%

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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%

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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

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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

1 event — show timeline

• 2025-11-22 Listed $59,000 NEIRBR as distributed by MLS GRID

Property tax history

+6.5%/yr

Latest (2025): $602 · +0.3% YoY. Source: county tax records.