1903 S 16th St · Centerville, IA 52544

$79,900

3 bd · 1.0 ba · 1,008 sqft · Other public records · 53 Days on market

Built 1914 $79/sqft · 11% below area Est $90k · 11% 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 +25.2/30.0
• ARV discount +12.6/15.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Appreciation +5.5/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Good home to rent, retire or 1st time home buyer. 3 Bedroom home situated on 50'x140' corner lot. 16'x24' 1 car detached garage.

Key facts

• Exposed brick
• In-home laundry
• Backyard

Tags

• EXPOSED BRICK
• UPDATED KITCHEN
• EAT-IN BAR
• IN-HOME LAUNDRY
• BACKYARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence
• Construction: Vinyl siding
• Exterior features: .161 acre lot

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.1% in Centerville — 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 (#277 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Centerville Community School District (town): math 57% / reading 65% proficiency, ranked #251 of 289 in IA (top 87%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 83 active listings in the ZIP; 6 units permitted in Appanoose County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($552 loan paydown + $863 appreciation (1.1% local appreciation)).
• Appanoose County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $35k; list at $80k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1914 — 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. Schools are A-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?
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: 1.16% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $90,017
• List price: $79,900
• Delta: -11.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.59×
• Total profit: $13,247
• Equity at exit: $27,609

10-year hold

• IRR: 15.2%
• Equity multiple: 2.86×
• Total profit: $41,693
• Equity at exit: $36,949

Cash invested: $22,372 (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 52544

• Home prices YoY: 0.5%
• Active inventory: 83
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $179

Break-even live

Break-even rent $697

Max offer price $79,900

Occupancy floor 76%

Sensitivity live

Price	-10% $225	-5% $202	+0% $179	+5% $157	+10% $134
Rent	-10% $106	-5% $143	+0% $179	+5% $216	+10% $252
Rate	-1.0pp $220	-0.5pp $200	base $179	+0.5pp $159	+1.0pp $138

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $79,900 Active 53 DOM
2. 2026-06-18
   days on market $79,900 Active 51 DOM
3. 2026-06-17
   days on market $79,900 Active 50 DOM
4. 2026-06-16
   days on market $79,900 Active 49 DOM
5. 2026-06-15
   days on market $79,900 Active 48 DOM
6. 2026-06-13
   days on market $79,900 Active 46 DOM
7. 2026-06-12
   days on market $79,900 Active 45 DOM
8. 2026-06-09
   days on market $79,900 Active 42 DOM
9. 2026-06-08
   days on market $79,900 Active 41 DOM
10. 2026-06-07
    days on market $79,900 Active 40 DOM
11. 2026-06-07
    days on market $79,900 Active 39 DOM
12. 2026-06-04
    days on market $79,900 Active 36 DOM
13. 2026-06-02
    days on market $79,900 Active 35 DOM
14. 2026-06-01
    days on market $79,900 Active 34 DOM
15. 2026-05-31
    days on market $79,900 Active 33 DOM
16. 2026-05-31
    days on market $79,900 Active 32 DOM
17. 2026-04-27
    listed $79,900 Active 783-char remark
18. 2015-02-02
    soldstatus $35,000 128-char remark

    Show marketing remark (128 chars)

    Good home to rent, retire or 1st time home buyer. 3 Bedroom home situated on 50'x140' corner lot. 16'x24' 1 car detached garage.

19. 2012-03-23
    listed $35,000 128-char remark

    Show marketing remark (128 chars)

    Good home to rent, retire or 1st time home buyer. 3 Bedroom home situated on 50'x140' corner lot. 16'x24' 1 car detached garage.

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,217 · $101/mo
• Expected delta: +$37/yr (+$3/mo · 3.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,089
• − Mortgage interest: −$4,476
• − Property taxes: −$1,180
• − Insurance: −$400
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$2,324
• Taxable income: $936
• Est. tax owed @ 24.0%: −$225
• After-tax cash flow: $1,928/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: Centerville Community School District
• NCES district ID: 1906750
• Math proficiency: 57% ▼ -8.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $35,401
• Composite: 50.48/100
• National rank: #1854
• State rank: #251 of 289 in IA

Livability — Centerville

• Score: 73/100
• State rank: #277
• US rank: #5375

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: Centerville, IA
• Population (ZIP): 8,110

Population outlook (Appanoose County) Hauer SSP2

• Today (2025): 11,726 people
• By 2030: 11,194 · -4.5%
• By 2040: 10,063 · -14.2%
• By 2050: 8,976 · -23.5%
• By 2075: 6,785 · -42.1%
• By 2100: 4,819 · -58.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 5%

Political lean MEDSL · Appanoose

• 2024 margin: Solid R (+46.7) · D 26.1% · R 72.8% · Other 1.2%
• 2008→2024 swing: -44.8pp toward R · 2008: -1.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+40.2 2016: R+36.4 2012: R+3.5 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.08%
• Current HPI: 212.65
• 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

+128.3% since first listed

3 events — show timeline

• 2026-04-27 Listed $79,900 IAR
• 2015-02-02 Sold (MLS) $35,000 IAR
• 2012-03-23 Listed $35,000 IAR

Property tax history

+8.8%/yr

Latest (2025): $1,180 · +1.2% YoY. Source: county tax records.