1513 S Fairmount St · Sioux City, IA 51106

$167,000

2 bd · 2.5 ba · 1,351 sqft · SingleFamily public records · 46 Days on market

Built 1926 10,400 sqft lot $124/sqft · 14% above area Est $209k · 20% 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 +8.7/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1513 S Fairmount Street presents a versatile real estate opportunity on a 0.24-acre lot in Sioux City. This residence includes 3 bedrooms and 2 bathrooms, offering functional living space with the potential for personalization. With its size and location, the property is well-suited for buyers seeking either an entry-level home or a solid investment option. There are tenants occupying the property with a 3rd of 12 months lease agreement on it.

Key facts

• 0.24 acre lot
• Built 1926
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (23.8% below list).
• Recommended offer: $127k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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.
• Zoned schools: Spalding Park Elementary (math 59% / reading 55%, grade C+, #436 of 616 statewide, top 74%, 652 students, 69% FRL); East Middle School (math 60% / reading 67%, grade B+, #169 of 246 statewide, top 69%, 1,067 students, 65% FRL); East High School (math 53% / reading 63%, grade C, #275 of 336 statewide, top 83%, 1,495 students, 54% FRL).
• Market conditions: 204 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $140k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,183 (23.8% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.76% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.58%
• DSCR: 0.84
• GRM: 10.9

CMA / ARV

• ARV (median comp): $208,528
• List price: $167,000
• Delta: -19.91%
• 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
2534 Jay Ave	0.49mi	2/1.0	1,352 (+0%)	8mo	$170,000	$126	65
714 S Alice St	0.70mi	2/2.0	1,408 (+4%)	0mo	$186,000	$132	58
817 S Fairmount St	0.51mi	3/1.0 (+1)	1,404 (+4%)	3mo	$144,400	$103	56
2526 Macomb Ave	0.35mi	3/2.0 (+1)	1,155 (-14%)	1mo	$246,000	$213	52
3324 5th Ave	0.72mi	3/1.5 (+1)	1,393 (+3%)	2mo	$200,000	$144	51
1127 S Cecelia St	0.47mi	3/1.5 (+1)	1,246 (-8%)	7mo	$206,000	$165	50
1021 S Cecelia St	0.53mi	3/1.0 (+1)	1,254 (-7%)	6mo	$225,000	$179	47
1005 S Paxton St	0.61mi	3/1.0 (+1)	1,436 (+6%)	7mo	$130,000	$91	44
3308 Garretson Ave	0.53mi	3/1.0 (+1)	1,200 (-11%)	7mo	$135,000	$113	40
3415 4th Ave	0.70mi	3/1.0 (+1)	1,192 (-12%)	1mo	$150,000	$126	36
1219 S Cornelia St	0.56mi	3/1.5 (+1)	1,552 (+15%)	7mo	$191,000	$123	35
3209 6th Ave	0.70mi	3/1.5 (+1)	1,537 (+14%)	3mo	$232,500	$151	33

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: -22.3%
• Equity multiple: 0.23×
• Total profit: $-35,939
• Equity at exit: $24,900

10-year hold

• IRR: -16.4%
• Equity multiple: 0.09×
• Total profit: $-42,690
• Equity at exit: $14,439

Cash invested: $46,760 (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 51106

• Active inventory: 204
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,272 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$199 /mo · $2,388/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-140

Break-even live

Break-even rent $1,449

Max offer price $142,340

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-92	+0% $-140	+5% $-187	+10% $-234
Rent	-10% $-240	-5% $-190	+0% $-140	+5% $-89	+10% $-39
Rate	-1.0pp $-55	-0.5pp $-97	base $-140	+0.5pp $-183	+1.0pp $-227

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 S Linn St Sioux City, IA	2.0	2.0	926	$1,400	$1.51	46d	1	0.64mi
2807 Lincoln Way Sioux City, IA	2.0–3.0	1.0	1100	$1,055	$0.96	46d	4	1.08mi
860 River View Dr South Sioux City, NE	1.0–2.0	1.0–2.0	867	$1,252	$1.44	46d	1	1.35mi

Listing history 10 events

1. 2026-04-10
   listed $167,000 Active 447-char remark

   Show marketing remark (447 chars)

   1513 S Fairmount Street presents a versatile real estate opportunity on a 0.24-acre lot in Sioux City. This residence includes 3 bedrooms and 2 bathrooms, offering functional living space with the potential for personalization. With its size and location, the property is well-suited for buyers seeking either an entry-level home or a solid investment option. There are tenants occupying the property with a 3rd of 12 months lease agreement on it.

2. 2025-12-03
   price $169,900
3. 2025-10-27
   price $174,900
4. 2025-09-22
   listed $175,900 Active
5. 2025-02-17
   price $175,500
6. 2025-02-03
   listed $185,200 Active
7. 2024-12-03
   listed $187,500 Active
8. 2023-04-03
   soldstatus $140,000
9. 2023-03-31
   soldstatus $140,000 Closed
10. 2023-03-04
    listed $142,000 Active

ⓘ 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: $2,388 · $199/mo
• Projected year-2 tax: $2,505 · $209/mo
• Expected delta: +$117/yr (+$10/mo · 4.9%)

ⓘ 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 4/10 Moderate
• 🌡 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: $15,262
• − Mortgage interest: −$9,355
• − Property taxes: −$2,388
• − Insurance: −$835
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$4,858
• Taxable loss: −$4,616
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $-567/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
• County: Woodbury County · 51,789 people
• City population: 51,789
• Metro: Sioux City, IA-NE-SD
• Population (ZIP): 28,592
• Household income: $78,434
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 891.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Iranian 4% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -127.61%
• Current HPI: 229.6733
• Rent YoY: —
• Metro: Sioux City, IA-NE-SD
• 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

+17.6% since first listed

10 events — show timeline

• 2026-04-10 Listed $167,000 NWIA
• 2025-12-03 Price Changed $169,900 NWIA
• 2025-10-27 Price Changed $174,900 NWIA
• 2025-09-22 Listed $175,900 NWIA
• 2025-02-17 Price Changed $175,500 NWIA
• 2025-02-03 Listed $185,200 NWIA
• 2024-12-03 Listed $187,500 NWIA
• 2023-04-03 Sold (Public Records) $140,000 Public Records
• 2023-03-31 Sold (MLS) $140,000 NWIA
• 2023-03-04 Listed $142,000 NWIA

Property tax history

+4.5%/yr

Latest (2025): $2,388 · -9.3% YoY. Source: county tax records.