1015 S Starr Ave · Burlington, IA 52601

$92,000

4 bd · 1.0 ba · 2,001 sqft · SingleFamily public records · 43 Days on market

Built 1878 0.26 ac lot $46/sqft · 44% below area Est $165k · 44% under ↓ 12% since listing

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on S Starr, this 3 bedroom, 1 bathroom is full of potential and ready for your personal touch! The property offers great bones and a great layout! Upstairs you'll find three generously sized bedrooms, a full bathroom and a 4th non-confirming room ideal for an office, playroom or extra storage! The main level features a spacious living room, formal dining room and a large kitchen with plenty of space to customize and make your own. Call for a showing today!

Key facts

• Formal dining room
• Large kitchen
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• LARGE KITCHEN
• 4TH NON-CONFIRMING ROOM

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Two levels; Single-family residence
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot is about 0.26 acre

Interior

• Kitchen: Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement; Range; Washer; Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $89k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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; 1 comparable units currently listed for rent nearby; 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 $636 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,240 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.40% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.0

CMA / ARV

• ARV (median comp): $165,096
• List price: $92,000
• Delta: -44.27%
• 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
1016 S Starr Ave	0.04mi	4/2.5	1,996 (-0%)	7mo	$244,900	$123	86
1027 S Plane St	0.06mi	4/2.5	1,905 (-5%)	3mo	$245,000	$129	80
1100 S Leebrick St	0.15mi	3/1.5 (-1)	1,912 (-4%)	6mo	$160,000	$84	74
407 S Gunnison St	0.61mi	4/2.0	1,999 (-0%)	2mo	$159,200	$80	66
810 S 14th St	0.51mi	4/1.0	1,883 (-6%)	3mo	$15,000	$8	64
1320 S Starr Ave	0.26mi	3/1.5 (-1)	1,792 (-10%)	7mo	$135,000	$75	58
813 Randall Ln	0.70mi	4/2.0	1,883 (-6%)	3mo	$192,500	$102	51
1912 Whittier St	0.74mi	3/2.0 (-1)	2,028 (+1%)	7mo	$140,000	$69	48
509 Summer St	0.60mi	4/2.5	2,254 (+13%)	2mo	$19,500	$9	43
205 S Leebrick St	0.71mi	3/2.0 (-1)	1,794 (-10%)	1mo	$73,000	$41	40
526 S Central Ave	0.67mi	3/1.0 (-1)	1,737 (-13%)	4mo	$73,500	$42	39
2612 Sunrise Ln	0.69mi	3/3.0 (-1)	2,248 (+12%)	4mo	$195,200	$87	31

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: 5.6%
• Equity multiple: 1.22×
• Total profit: $5,654
• Equity at exit: $13,717

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $31,550
• Equity at exit: $7,954

Cash invested: $25,760 (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 52601

• Active inventory: 184
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $322

Break-even live

Break-even rent $876

Max offer price $92,000

Occupancy floor 70%

Sensitivity live

Price	-10% $374	-5% $348	+0% $322	+5% $296	+10% $270
Rent	-10% $221	-5% $271	+0% $322	+5% $373	+10% $423
Rate	-1.0pp $368	-0.5pp $345	base $322	+0.5pp $298	+1.0pp $274

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	44d	1	0.70mi

Listing history 18 events

1. 2026-06-19
   days on market $92,000 Active 43 DOM
2. 2026-06-18
   days on market $92,000 Active 42 DOM
3. 2026-06-17
   days on market $92,000 Active 41 DOM
4. 2026-06-16
   days on market $92,000 Active 40 DOM
5. 2026-06-15
   days on market $92,000 Active 39 DOM
6. 2026-06-14
   days on market $92,000 Active 37 DOM
7. 2026-06-12
   days on market $92,000 Active 36 DOM
8. 2026-06-09
   days on market $92,000 Active 33 DOM
9. 2026-06-09
   price $92,000 Active 32 DOM
10. 2026-06-08
    days on market $98,900 Active 32 DOM
11. 2026-06-07
    days on market $98,900 Active 31 DOM
12. 2026-06-07
    days on market $98,900 Active 30 DOM
13. 2026-06-03
    days on market $98,900 Active 27 DOM
14. 2026-06-02
    days on market $98,900 Active 26 DOM
15. 2026-06-01
    days on market $98,900 Active 25 DOM
16. 2026-05-31
    days on market $98,900 Active 24 DOM
17. 2026-05-30
    days on market $98,900 Active 23 DOM
18. 2026-05-07
    listed $104,900 Active 468-char remark

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $15,404
• − Mortgage interest: −$5,153
• − Property taxes: −$2,056
• − Insurance: −$460
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$2,676
• Taxable income: $2,594
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $3,241/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: 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

-12.3% since first listed

3 events — show timeline

• 2026-06-08 Price Changed $92,000 IAR
• 2026-05-23 Price Changed $98,900 IAR
• 2026-05-07 Listed $104,900 IAR

Property tax history

+1.8%/yr

Latest (2025): $2,056 · +14.7% YoY. Source: county tax records.