813 N 10th St · Burlington, IA 52601

$37,900

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 134 Days on market

Built 1900 4,000 sqft lot $28/sqft · 48% below area Est $73k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

Key facts

• Kitchen and bath
• New flooring
• Parking in alley

Tags

• NEW ROOF
• NEW WINDOWS
• NEW FLOORING
• KITCHEN AND BATH
• PARKING IN ALLEY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.6% 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: 188 active listings in the ZIP; 2 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 $262 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $36k (49%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1900 — 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. 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?
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: 3.05% ✓
• Cap rate: 26.59%
• Cash-on-cash: 72.50%
• DSCR: 4.23
• GRM: 2.7

CMA / ARV

• ARV (median comp): $73,001
• List price: $37,900
• Delta: -48.08%
• 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
1516 N 9th St	0.52mi	3/1.0	1,288 (-4%)	2mo	$10,000	$8	67
613 N Garfield Ave	0.53mi	3/1.0	1,380 (+3%)	6mo	$160,000	$116	66
713 Market St	0.52mi	3/2.0	1,315 (-2%)	3mo	$120,000	$91	65
1104 Arch St	0.08mi	2/1.0 (-1)	1,144 (-15%)	5mo	$10,000	$9	63
1417 Mount Pleasant St	0.48mi	2/1.0 (-1)	1,374 (+2%)	9mo	$30,000	$22	61
209 S 8th St	0.68mi	3/1.0	1,291 (-4%)	2mo	$71,500	$55	60
1308 Plank St	0.50mi	3/1.0	1,248 (-7%)	6mo	$90,000	$72	60
241 S 9th St	0.74mi	3/1.0	1,386 (+3%)	1mo	$1	—	60
506 N 8th St	0.26mi	2/1.0 (-1)	1,495 (+11%)	6mo	$19,000	$13	59
1316 Corse St	0.68mi	2/1.0 (-1)	1,224 (-9%)	5mo	$82,500	$67	45
1209 Virginia Ave	0.68mi	3/1.0	1,191 (-11%)	6mo	$74,000	$62	44
1613 Lincoln St	0.74mi	3/2.0	1,487 (+11%)	9mo	$130,000	$87	36

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: 72.2%
• Equity multiple: 4.27×
• Total profit: $34,714
• Equity at exit: $5,651

10-year hold

• IRR: 76.1%
• Equity multiple: 8.81×
• Total profit: $82,901
• Equity at exit: $3,277

Cash invested: $10,612 (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: 188
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $641

Break-even live

Break-even rent $343

Max offer price $37,900

Occupancy floor 39%

Sensitivity live

Price	-10% $663	-5% $652	+0% $641	+5% $630	+10% $620
Rent	-10% $550	-5% $596	+0% $641	+5% $687	+10% $732
Rate	-1.0pp $660	-0.5pp $651	base $641	+0.5pp $631	+1.0pp $621

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: $9,475
• Closing costs: $1,137
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 4th St Unit 214 Burlington, IA	2.0	1.0	1205	$1,295	$1.07	44d	1	0.63mi
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	44d	1	0.86mi

Listing history 28 events

1. 2026-06-21
   days on market $37,900 Active 134 DOM
2. 2026-06-19
   days on market $37,900 Active 132 DOM
3. 2026-06-18
   days on market $37,900 Active 131 DOM
4. 2026-06-17
   days on market $37,900 Active 130 DOM
5. 2026-06-16
   days on market $37,900 Active 129 DOM
6. 2026-06-15
   days on market $37,900 Active 128 DOM
7. 2026-06-14
   days on market $37,900 Active 126 DOM
8. 2026-06-12
   days on market $37,900 Active 125 DOM
9. 2026-06-09
   days on market $37,900 Active 122 DOM
10. 2026-06-08
    days on market $37,900 Active 121 DOM
11. 2026-06-07
    days on market $37,900 Active 120 DOM
12. 2026-06-07
    remarks 348-char remark
13. 2026-06-07
    pricedays on market $37,900 Active 119 DOM
14. 2026-06-03
    days on market $42,000 Active 116 DOM
15. 2026-06-02
    days on market $42,000 Active 115 DOM
16. 2026-06-01
    days on market $42,000 Active 114 DOM
17. 2026-05-31
    days on market $42,000 Active 113 DOM
18. 2026-05-30
    days on market $42,000 Active 112 DOM
19. 2026-05-17
    price $42,000 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

20. 2026-04-17
    price $48,000 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

21. 2026-04-02
    price $49,900 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

22. 2026-03-17
    price $56,500 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

23. 2026-02-28
    price $63,000 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

24. 2026-02-07
    listed $74,000 Active 336-char remark

    Show marketing remark (336 chars)

    Great New Price! There’s a lot to love in this 2 bedroom home! New roof, new main water line, new flooring, kitchen and bath with laundry. Most windows are new. Some of house built on former porch which has a slight slope which has been leveled. Current owner hasn’t had any problem with foundation. Has New rental permit.

25. 2023-05-31
    soldstatus $55,000
26. 2022-07-01
    soldstatus $13,000
27. 2022-06-30
    soldstatus $13,000 237-char remark

    Show marketing remark (237 chars)

    Looking for something to put your personal touches on? Don't miss this 3 bedroom home across from North Hill School. Spacious rooms with great potential. This property is being sold As-Is with seller making no guarantees/representations.

28. 2022-03-17
    listed $14,900 237-char remark

    Show marketing remark (237 chars)

    Looking for something to put your personal touches on? Don't miss this 3 bedroom home across from North Hill School. Spacious rooms with great potential. This property is being sold As-Is with seller making no guarantees/representations.

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $676 · $56/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 3/10 Moderate
• 🌡 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: $13,853
• − Mortgage interest: −$2,123
• − Property taxes: −$676
• − Insurance: −$190
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$1,103
• Taxable income: $7,546
• Est. tax owed @ 24.0%: −$1,811
• After-tax cash flow: $5,882/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

+181.9% since first listed

10 events — show timeline

• 2026-05-17 Price Changed $42,000 IAR
• 2026-04-17 Price Changed $48,000 IAR
• 2026-04-02 Price Changed $49,900 IAR
• 2026-03-17 Price Changed $56,500 IAR
• 2026-02-28 Price Changed $63,000 IAR
• 2026-02-07 Listed $74,000 IAR
• 2023-05-31 Sold (Public Records) $55,000 Public Records
• 2022-07-01 Sold (Public Records) $13,000 Public Records
• 2022-06-30 Sold (MLS) $13,000 IAR
• 2022-03-17 Listed $14,900 IAR

Property tax history

+1.2%/yr

Latest (2025): $676 · +144.9% YoY. Source: county tax records.