304 8th Ave. Ave · Charles City, IA 50616

$117,500

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 192 Days on market

Built 1910 8,250 sqft lot $87/sqft · 33% above area Est $88k · 33% over

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Why this score? — see what drove the C+ 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully maintained two-story home offering 1,344 sq. ft. of comfortable living space and exceptional updates throughout. This three-bedroom, one-bath residence shines with newer siding, all-new interior décor, and a new furnace, ensuring worry-free living for years to come. The moment you enter, you’ll appreciate the gorgeous open staircase, rich oak trim, and inviting layout that blends classic character with modern finishes. The spacious oak kitchen features an eating bar, ample cabinetry, and a warm, functional design perfect for daily living and entertaining. Additional highlights include a single detached garage, large 66x125 lot, as well as new front and rear porches that provide ideal outdoor spaces for relaxing or greeting guests. This home is in excellent condition and move-in ready—an outstanding opportunity you won’t want to miss.

Key facts

• Oak trim
• New furnace
• Open staircase

Tags

• NEWER SIDING
• NEW FURNACE
• OPEN STAIRCASE
• OAK TRIM
• OAK KITCHEN
• EATING BAR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 $812 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $118k implies a 444% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1910 — 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: 1.34% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.51%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $88,156
• List price: $117,500
• Delta: 33.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 8th Ave	0.16mi	3/1.5	1,414 (+5%)	4mo	$149,000	$105	79
315 16th Ave	0.60mi	3/1.5	1,400 (+4%)	6mo	$136,000	$97	58
1312 Missouri Ave	0.60mi	3/1.0	1,364 (+2%)	14mo	$141,500	$104	58
513 3rd Ave	0.35mi	2/1.0 (-1)	1,179 (-12%)	2mo	$120,000	$102	57
108 15th Ave	0.49mi	3/1.5	1,456 (+8%)	8mo	$84,000	$58	54
514 8th Ave	0.21mi	3/2.0	1,542 (+15%)	9mo	$88,000	$57	54
603 8th Ave	0.25mi	3/1.0	1,544 (+15%)	12mo	$105,000	$68	54
406 16th Ave	0.57mi	3/1.0	1,176 (-12%)	14mo	$65,000	$55	41
305 16th Ave	0.59mi	3/2.0	1,232 (-8%)	17mo	$90,000	$73	40
1008 Ellis Dr. Apt #6 Dr	0.62mi	2/1.0 (-1)	1,144 (-15%)	7mo	$115,000	$101	35
202 Ferguson St	0.65mi	3/1.5	1,166 (-13%)	13mo	$90,000	$77	35
600 Freeman St	0.68mi	3/2.0	1,540 (+15%)	8mo	$142,500	$93	34

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $8,072
• Equity at exit: $17,520

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $42,015
• Equity at exit: $10,159

Cash invested: $32,900 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$616
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $425

Break-even live

Break-even rent $1,035

Max offer price $117,500

Occupancy floor 68%

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: $29,375
• Closing costs: $3,525
• 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	43d	28	0.50mi
1004 20th Ave Charles City, IA	3.0	2.0	960	$975	$1.02	23d	1	0.88mi

Listing history 7 events

1. 2026-06-01
   status $117,500 Pending 192 DOM
2. 2026-06-01
   days on market $117,500 Active 192 DOM
3. 2026-05-31
   days on market $117,500 Active 191 DOM
4. 2026-05-31
   days on market $117,500 Active 190 DOM
5. 2025-11-21
   listed $117,500 Active 897-char remark

   Show marketing remark (897 chars)

   Step into this beautifully maintained two-story home offering 1,344 sq. ft. of comfortable living space and exceptional updates throughout. This three-bedroom, one-bath residence shines with newer siding, all-new interior décor, and a new furnace, ensuring worry-free living for years to come. The moment you enter, you’ll appreciate the gorgeous open staircase, rich oak trim, and inviting layout that blends classic character with modern finishes. The spacious oak kitchen features an eating bar, ample cabinetry, and a warm, functional design perfect for daily living and entertaining. Additional highlights include a single detached garage, large 66x125 lot, as well as new front and rear porches that provide ideal outdoor spaces for relaxing or greeting guests. This home is in excellent condition and move-in ready—an outstanding opportunity you won’t want to miss.

6. 1996-10-31
   soldstatus $21,600
7. 1994-02-19
   soldstatus $15,500

ⓘ 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: $1,832 · $153/mo
• Projected year-2 tax: $1,838 · $153/mo
• Expected delta: +$6/yr (+$1/mo · 0.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $18,882
• − Mortgage interest: −$6,582
• − Property taxes: −$1,832
• − Insurance: −$588
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$3,418
• Taxable income: $3,441
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,277/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

+658.1% since first listed

3 events — show timeline

• 2025-11-21 Listed $117,500 NEIRBR as distributed by MLS GRID
• 1996-10-31 Sold (Public Records) $21,600 Public Records
• 1994-02-19 Sold (Public Records) $15,500 Public Records

Property tax history

+12.9%/yr

Latest (2025): $1,832 · +0.2% YoY. Source: county tax records.