513 6th Ave · Charles City, IA 50616

$82,000

2 bd · 1.5 ba · 1,189 sqft · SingleFamily public records · 8 Days on market

Built 1940 6,200 sqft lot Est $87k · 6% under

---

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
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 1% rule +8.7/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is super clean and move-in ready! Nice floor plan featuring 1,189 square feet of finished living space. On the main level you will find a nice sized living room, separate dining room, a hall bathroom with walk-in shower, two nice sized bedrooms and a well-organized kitchen with wood cabinetry. The home’s lower level has a family room with wood burning stove, third (non-conforming) bedroom or office area, workshop, laundry and excellent storage. Exterior amenities include a one stall detached garage, a backyard concrete patio, storage shed, rear alley access and is nicely landscaped. Call today for your personal tour and opportunity to call this home your home!

Key facts

• Pull out table
• New bathtub
• Curb appeal

Tags

• CURB APPEAL
• PULL OUT TABLE
• NEW BATHTUB
• REPLACEMENT WINDOWS
• REAR YARD FENCED
• WOOD BURNING FIREPLACE

Property features AI

Exterior

• Parking: Detached carport (1 carport space)
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Storage structure on property; Lot roughly 50 x 124 (approximately 0.142 acres); Sidewalks in the community

Interior

• Kitchen: Free-standing range; Refrigerator; Disposal
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Fireplace (1); Partially finished basement with concrete floor and interior entry
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Cap rate 11.0% 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.
• Zoned schools: Charles City Ms (math 51% / reading 59%, grade B-, #201 of 246 statewide, top 82%, 423 students, 54% FRL); Charles City High School (math 47% / reading 67%, grade C, #279 of 336 statewide, top 85%, 534 students, 47% FRL).
• 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 $567 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $70k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.68%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $86,797
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 3rd Ave	0.18mi	2/1.0	1,179 (-1%)	2mo	$120,000	$102	87
1008 Ellis Dr. Apt #6 Dr	0.39mi	2/1.0	1,144 (-4%)	7mo	$115,000	$101	67
702 D St	0.15mi	2/1.0	1,061 (-11%)	13mo	$50,000	$47	62
900 6th Avenue Ave	0.29mi	2/2.0	1,120 (-6%)	16mo	$130,000	$116	62
303 7th Ave Ave	0.22mi	3/1.5 (+1)	1,051 (-12%)	9mo	$65,500	$62	58
1203 E Street St	0.50mi	2/1.0	1,118 (-6%)	10mo	$54,000	$48	57
903 6th Ave	0.30mi	3/1.0 (+1)	1,092 (-8%)	16mo	$139,900	$128	52
406 16th Ave	0.67mi	3/1.0 (+1)	1,176 (-1%)	14mo	$65,000	$55	48
405 Richings	0.69mi	2/2.0	1,122 (-6%)	16mo	$69,300	$62	43
305 16th Ave	0.72mi	3/2.0 (+1)	1,232 (+4%)	17mo	$90,000	$73	39
1215 N Grand Ave	0.68mi	3/1.0 (+1)	1,096 (-8%)	14mo	$75,000	$68	36
602 Freeman St	0.74mi	3/1.5 (+1)	1,056 (-11%)	10mo	$147,500	$140	33

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: 7.8%
• Equity multiple: 1.31×
• Total profit: $7,056
• Equity at exit: $12,226

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $32,387
• Equity at exit: $7,090

Cash invested: $22,960 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $319

Break-even live

Break-even rent $717

Max offer price $82,000

Occupancy floor 67%

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: $20,500
• Closing costs: $2,460
• 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	$1,200	$1.29	44d	28	0.56mi
1004 20th Ave Charles City, IA	3.0	2.0	960	$975	$1.02	23d	1	1.08mi

Listing history 4 events

1. 2026-05-18
   listed $82,000 Active
2. 2021-09-16
   soldstatus $70,000
3. 2021-09-01
   soldstatus $70,000 684-char remark

   Show marketing remark (684 chars)

   This home is super clean and move-in ready! Nice floor plan featuring 1,189 square feet of finished living space. On the main level you will find a nice sized living room, separate dining room, a hall bathroom with walk-in shower, two nice sized bedrooms and a well-organized kitchen with wood cabinetry. The home’s lower level has a family room with wood burning stove, third (non-conforming) bedroom or office area, workshop, laundry and excellent storage. Exterior amenities include a one stall detached garage, a backyard concrete patio, storage shed, rear alley access and is nicely landscaped. Call today for your personal tour and opportunity to call this home your home!

4. 2021-06-07
   listed $67,000 684-char remark

   Show marketing remark (684 chars)

   This home is super clean and move-in ready! Nice floor plan featuring 1,189 square feet of finished living space. On the main level you will find a nice sized living room, separate dining room, a hall bathroom with walk-in shower, two nice sized bedrooms and a well-organized kitchen with wood cabinetry. The home’s lower level has a family room with wood burning stove, third (non-conforming) bedroom or office area, workshop, laundry and excellent storage. Exterior amenities include a one stall detached garage, a backyard concrete patio, storage shed, rear alley access and is nicely landscaped. Call today for your personal tour and opportunity to call this home your home!

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$30/yr (+$2/mo · 2.4%)

ⓘ 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 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: $13,453
• − Mortgage interest: −$4,593
• − Property taxes: −$1,228
• − Insurance: −$410
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$2,385
• Taxable income: $2,684
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $3,186/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

+22.4% since first listed

4 events — show timeline

• 2026-05-18 Listed $82,000 NEIRBR as distributed by MLS GRID
• 2021-09-16 Sold (Public Records) $70,000 Public Records
• 2021-09-01 Sold (MLS) $70,000 NEIRBR as distributed by MLS GRID
• 2021-06-07 Listed $67,000 NEIRBR as distributed by MLS GRID

Property tax history

+3.3%/yr

Latest (2025): $1,228 · +0.7% YoY. Source: county tax records.