504 S Main St · Charles City, IA 50616

$59,000

4 bd · 2.0 ba · 1,388 sqft · SingleFamily public records · 206 Days on market

Built 1920 8,850 sqft lot $43/sqft · 54% 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 +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

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 206 days

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$129,138) 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.

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 6.5% 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; 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 206 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 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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): $129,138
• List price: $59,000
• Delta: -54.31%
• 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%)	6mo	$155,000	$116	78
812 8th St	0.39mi	3/2.0 (-1)	1,391 (+0%)	8mo	$140,000	$101	70
600 Freeman St	0.31mi	3/2.0 (-1)	1,540 (+11%)	8mo	$142,500	$93	56
1007 Cedar St	0.36mi	3/1.5 (-1)	1,508 (+9%)	8mo	$129,000	$86	56
800 8th Street St	0.37mi	3/2.0 (-1)	1,302 (-6%)	14mo	$125,000	$96	55
1107 Hildreth St	0.45mi	3/3.0 (-1)	1,322 (-5%)	10mo	$122,500	$93	54
301 S Joslin St	0.32mi	3/2.0 (-1)	1,456 (+5%)	22mo	$165,000	$113	54
1204 Grove St	0.34mi	3/2.0 (-1)	1,456 (+5%)	22mo	$130,000	$89	53
903 S Johnson St	0.29mi	3/1.0 (-1)	1,536 (+11%)	11mo	$107,500	$70	50
1207 Gilbert St	0.39mi	5/1.0 (+1)	1,576 (+14%)	9mo	$63,450	$40	43
1000 S Main St	0.31mi	3/1.0 (-1)	1,192 (-14%)	21mo	$75,000	$63	35
109 Hillside Drive Dr	0.66mi	3/2.0 (-1)	1,592 (+15%)	20mo	$141,625	$89	23

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 →

ZIP-level market 50616

• Home prices YoY: -19.7%
• Active inventory: 70
• 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%

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
• 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	44d	28	1.35mi
1004 20th Ave Charles City, IA	3.0	2.0	960	$975	$1.02	23d	1	1.44mi

Listing history 16 events

1. 2026-06-18
   days on market $59,000 Active 206 DOM
2. 2026-06-17
   days on market $59,000 Active 205 DOM
3. 2026-06-16
   days on market $59,000 Active 204 DOM
4. 2026-06-15
   days on market $59,000 Active 203 DOM
5. 2026-06-13
   days on market $59,000 Active 201 DOM
6. 2026-06-12
   days on market $59,000 Active 200 DOM
7. 2026-06-09
   days on market $59,000 Active 197 DOM
8. 2026-06-08
   days on market $59,000 Active 196 DOM
9. 2026-06-07
   days on market $59,000 Active 195 DOM
10. 2026-06-07
    days on market $59,000 Active 194 DOM
11. 2026-06-04
    days on market $59,000 Active 191 DOM
12. 2026-06-02
    days on market $59,000 Active 190 DOM
13. 2026-06-01
    days on market $59,000 Active 189 DOM
14. 2026-05-31
    days on market $59,000 Active 188 DOM
15. 2026-05-31
    days on market $59,000 Active 187 DOM
16. 2025-11-22
    listed $59,000 Active 194-char remark

    Show marketing remark (194 chars)

    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.

ⓘ 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.

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

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.