118 West Burlington Ave · West Burlington, IA 52655

$149,000

3 bd · 1.0 ba · 1,556 sqft · SingleFamily public records · 66 Days on market

Built 1890 8,276 sqft lot Est $165k · 10% 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).

• Cash flow +12.9/30.0
• ARV discount +11.8/15.0
• Schools +6.0/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained two-story home offers 3 bedrooms, 1 bathroom, and approximately 1,500 square feet of comfortable living space. Currently operating as a rental property, it presents a great opportunity for investors with an active rental permit already in place—making for a smooth transition to continued use or future occupancy. Inside, you’ll find a functional layout with spacious living areas, ample natural light, and room to make it your own. The home’s classic design provides both character and versatility to suit a variety of needs. Conveniently located in the West Burlington School District, the property also benefits from a setting that offers easy access to eve

Key facts

• Nearby outdoor space
• Active rental permit
• Functional layout

Tags

• ACTIVE RENTAL PERMIT
• EASY ACCESS TO AMENITIES
• NEARBY OUTDOOR SPACE
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story single-family residence; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 0.19 acres (57 x 147); Residential single-family zoning

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-10 ($-123/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (21.4% below list).
• Recommended offer: $117k (21.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#47 in IA, #1,179 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D-, amenities F.
• West Burlington Ind School District (town): math 66% / reading 77% proficiency, ranked #140 of 289 in IA (top 48%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 22 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $149k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,174 (21.4% 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 66 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $164,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 E Wheeler St	0.07mi	4/1.0 (+1)	1,620 (+4%)	2mo	$168,000	$104	83
301 Ballard St	0.21mi	4/1.5 (+1)	1,502 (-4%)	12mo	$28,000	$19	67
621 Broadway St	0.51mi	3/2.0	1,571 (+1%)	10mo	$211,000	$134	62
1913 Racine Ave	0.36mi	4/1.5 (+1)	1,464 (-6%)	8mo	$119,000	$81	60
117 Ramsey St	0.44mi	3/1.5	1,396 (-10%)	3mo	$151,000	$108	58
501 W Aire Dr	0.36mi	3/1.0	1,344 (-14%)	7mo	$142,500	$106	55
707 West Burlington Ave	0.47mi	3/2.0	1,392 (-10%)	4mo	$152,500	$110	53
206 Ramsey St	0.42mi	3/2.0	1,708 (+10%)	9mo	$151,500	$89	52
401 Broadway St	0.36mi	3/1.5	1,336 (-14%)	9mo	$124,000	$93	50
309 Vernon Ave	0.71mi	3/1.0	1,448 (-7%)	8mo	$144,000	$99	48
601 W Glasgow St	0.66mi	4/3.0 (+1)	1,740 (+12%)	0mo	$420,000	$241	36
706 Ramsey St	0.63mi	4/2.0 (+1)	1,336 (-14%)	8mo	$220,000	$165	32

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-24,839
• Equity at exit: $22,216

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-22,635
• Equity at exit: $12,883

Cash invested: $41,720 (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 52655

• Home prices YoY: -5.7%
• Active inventory: 22
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,172 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$92 /mo · $1,110/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-10

Break-even live

Break-even rent $1,185

Max offer price $147,184

Occupancy floor 96%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $149,000 Active 66 DOM
2. 2026-06-18
   days on market $149,000 Active 65 DOM
3. 2026-06-17
   days on market $149,000 Active 64 DOM
4. 2026-06-16
   days on market $149,000 Active 63 DOM
5. 2026-06-15
   days on market $149,000 Active 62 DOM
6. 2026-06-14
   days on market $149,000 Active 60 DOM
7. 2026-06-12
   days on market $149,000 Active 59 DOM
8. 2026-06-09
   days on market $149,000 Active 56 DOM
9. 2026-06-08
   days on market $149,000 Active 55 DOM
10. 2026-06-07
    days on market $149,000 Active 54 DOM
11. 2026-06-07
    days on market $149,000 Active 53 DOM
12. 2026-06-02
    days on market $149,000 Active 49 DOM
13. 2026-06-01
    days on market $149,000 Active 48 DOM
14. 2026-05-31
    days on market $149,000 Active 47 DOM
15. 2026-05-30
    days on market $149,000 Active 46 DOM
16. 2026-04-27
    price $149,000
17. 2026-04-14
    listed $159,000 Active
18. 2006-07-10
    soldstatus $65,000

ⓘ 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: $1,110 · $92/mo
• Projected year-2 tax: $1,725 · $144/mo
• Expected delta: +$615/yr (+$51/mo · 55.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,061
• − Mortgage interest: −$8,346
• − Property taxes: −$1,110
• − Insurance: −$745
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$4,335
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $531/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: West Burlington Ind School District
• NCES district ID: 1930780
• Math proficiency: 66% ▼ -7.00%
• Reading proficiency: 77% ▲ 2.00%
• Median HH income: $40,093
• Composite: 59.62/100
• National rank: #910
• State rank: #140 of 289 in IA

Livability — West Burlington

• Score: 82/100
• State rank: #47
• US rank: #1179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Burlington, IA
• Population (ZIP): 4,300

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 4% Italian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -12.25%
• Current HPI: 201.4077
• 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

+129.2% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $149,000 IAR
• 2026-04-14 Listed $159,000 IAR
• 2006-07-10 Sold (Public Records) $65,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,110 · -45.3% YoY. Source: county tax records.