414 E Sheridan Ave · Centerville, IA 52544

$99,000

3 bd · 1.0 ba · 1,346 sqft · Other public records · 335 Days on market

Built 1914 8,712 sqft lot $74/sqft · 7% above area Est $92k · 7% 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 +24.1/30.0
• DSCR +7.8/10.0
• 1% rule +5.9/10.0
• Appreciation +5.5/10.0
• Schools +5.0/10.0
• ARV discount +4.2/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into this thoughtfully updated 3-bedroom, 1-bath home offering 1,346 square feet of comfortable living in a quiet corner-lot neighborhood. Built in 1914, this home blends classic character with important modern improvements buyers appreciate. Recent updates include a durable metal roof, newer furnace and water heater, new flooring in the bedrooms, and fresh paint throughout, creating a clean, move-in-ready feel. The functional layout provides flexible living space, while the corner lot offers added privacy and curb appeal. Monthly Electric Average is: $28.00 Monthly Gas Average is : $ 45.26 Whether you’re a first-time buyer, downsizing, or looking for a solid investment, this home offers peace of mind with major updates already completed and room to make it your own. Schedule your showing and see the value this home has to offer.

Key facts

• Durable metal roof
• Open concept living
• 8,712 sq ft lot

Tags

• OPEN CONCEPT LIVING
• DURABLE METAL ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $99k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.0% 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: 82 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 $2k of equity ($684 loan paydown + $1k 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $99k implies a 83% 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 $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 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 1914 — 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. 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?
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: 1.09% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.49%
• DSCR: 1.38
• GRM: 7.6

CMA / ARV

• ARV (median comp): $92,302
• List price: $99,000
• Delta: 7.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.53×
• Total profit: $14,730
• Equity at exit: $34,209

10-year hold

• IRR: 14.2%
• Equity multiple: 2.73×
• Total profit: $47,985
• Equity at exit: $45,782

Cash invested: $27,720 (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 52544

• Home prices YoY: 0.5%
• Active inventory: 82
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $196

Break-even live

Break-even rent $836

Max offer price $99,000

Occupancy floor 77%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $99,000 Active 335 DOM
2. 2026-06-17
   days on market $99,000 Active 334 DOM
3. 2026-06-16
   days on market $99,000 Active 333 DOM
4. 2026-06-15
   days on market $99,000 Active 332 DOM
5. 2026-06-13
   days on market $99,000 Active 330 DOM
6. 2026-06-12
   days on market $99,000 Active 329 DOM
7. 2026-06-09
   days on market $99,000 Active 326 DOM
8. 2026-06-08
   days on market $99,000 Active 325 DOM
9. 2026-06-07
   days on market $99,000 Active 324 DOM
10. 2026-06-07
    days on market $99,000 Active 323 DOM
11. 2026-06-04
    days on market $99,000 Active 320 DOM
12. 2026-06-02
    pricedays on market $99,000 Active 319 DOM
13. 2026-06-01
    days on market $102,000 Active 318 DOM
14. 2026-05-31
    days on market $102,000 Active 317 DOM
15. 2026-05-31
    days on market $102,000 Active 316 DOM
16. 2026-03-18
    price $102,000 853-char remark

    Show marketing remark (853 chars)

    Step into this thoughtfully updated 3-bedroom, 1-bath home offering 1,346 square feet of comfortable living in a quiet corner-lot neighborhood. Built in 1914, this home blends classic character with important modern improvements buyers appreciate. Recent updates include a durable metal roof, newer furnace and water heater, new flooring in the bedrooms, and fresh paint throughout, creating a clean, move-in-ready feel. The functional layout provides flexible living space, while the corner lot offers added privacy and curb appeal. Monthly Electric Average is: $28.00 Monthly Gas Average is : $ 45.26 Whether you’re a first-time buyer, downsizing, or looking for a solid investment, this home offers peace of mind with major updates already completed and room to make it your own. Schedule your showing and see the value this home has to offer.

17. 2025-11-21
    price $105,000 853-char remark

    Show marketing remark (853 chars)

    Step into this thoughtfully updated 3-bedroom, 1-bath home offering 1,346 square feet of comfortable living in a quiet corner-lot neighborhood. Built in 1914, this home blends classic character with important modern improvements buyers appreciate. Recent updates include a durable metal roof, newer furnace and water heater, new flooring in the bedrooms, and fresh paint throughout, creating a clean, move-in-ready feel. The functional layout provides flexible living space, while the corner lot offers added privacy and curb appeal. Monthly Electric Average is: $28.00 Monthly Gas Average is : $ 45.26 Whether you’re a first-time buyer, downsizing, or looking for a solid investment, this home offers peace of mind with major updates already completed and room to make it your own. Schedule your showing and see the value this home has to offer.

18. 2025-08-14
    price $107,000 853-char remark

    Show marketing remark (853 chars)

    Step into this thoughtfully updated 3-bedroom, 1-bath home offering 1,346 square feet of comfortable living in a quiet corner-lot neighborhood. Built in 1914, this home blends classic character with important modern improvements buyers appreciate. Recent updates include a durable metal roof, newer furnace and water heater, new flooring in the bedrooms, and fresh paint throughout, creating a clean, move-in-ready feel. The functional layout provides flexible living space, while the corner lot offers added privacy and curb appeal. Monthly Electric Average is: $28.00 Monthly Gas Average is : $ 45.26 Whether you’re a first-time buyer, downsizing, or looking for a solid investment, this home offers peace of mind with major updates already completed and room to make it your own. Schedule your showing and see the value this home has to offer.

19. 2025-07-18
    listed $110,000 Active 853-char remark

    Show marketing remark (853 chars)

    Step into this thoughtfully updated 3-bedroom, 1-bath home offering 1,346 square feet of comfortable living in a quiet corner-lot neighborhood. Built in 1914, this home blends classic character with important modern improvements buyers appreciate. Recent updates include a durable metal roof, newer furnace and water heater, new flooring in the bedrooms, and fresh paint throughout, creating a clean, move-in-ready feel. The functional layout provides flexible living space, while the corner lot offers added privacy and curb appeal. Monthly Electric Average is: $28.00 Monthly Gas Average is : $ 45.26 Whether you’re a first-time buyer, downsizing, or looking for a solid investment, this home offers peace of mind with major updates already completed and room to make it your own. Schedule your showing and see the value this home has to offer.

20. 2017-02-17
    soldstatus $54,000 325-char remark

    Show marketing remark (325 chars)

    Inviting home on the south side of Centerville with 3 bedrooms and 1 bath. Entering this home, you will see an open living room and kitchen concept. This also includes the spacious dining room area. Kitchen comes with stainless steel refrigerator that adds a nice touch. This would be a great starter home for a small family!

21. 2017-02-17
    soldstatus $53,625

    Show marketing remark (325 chars)

    Inviting home on the south side of Centerville with 3 bedrooms and 1 bath. Entering this home, you will see an open living room and kitchen concept. This also includes the spacious dining room area. Kitchen comes with stainless steel refrigerator that adds a nice touch. This would be a great starter home for a small family!

22. 2016-12-16
    listed $55,000 325-char remark

    Show marketing remark (325 chars)

    Inviting home on the south side of Centerville with 3 bedrooms and 1 bath. Entering this home, you will see an open living room and kitchen concept. This also includes the spacious dining room area. Kitchen comes with stainless steel refrigerator that adds a nice touch. This would be a great starter home for a small family!

23. 2015-04-16
    soldstatus $50,100
24. 2007-06-28
    soldstatus $35,000

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $1,375 · $115/mo
• Expected delta: +$179/yr (+$15/mo · 15.0%)

ⓘ 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 4/10 Moderate
• 🌡 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: $13,005
• − Mortgage interest: −$5,546
• − Property taxes: −$1,196
• − Insurance: −$495
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$2,880
• Taxable income: $808
• Est. tax owed @ 24.0%: −$194
• After-tax cash flow: $2,159/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

+191.4% since first listed

9 events — show timeline

• 2026-03-18 Price Changed $102,000 IAR
• 2025-11-21 Price Changed $105,000 IAR
• 2025-08-14 Price Changed $107,000 IAR
• 2025-07-18 Listed $110,000 IAR
• 2017-02-17 Sold (Public Records) $53,625 Public Records
• 2017-02-17 Sold (MLS) $54,000 IAR
• 2016-12-16 Listed $55,000 IAR
• 2015-04-16 Sold (Public Records) $50,100 Public Records
• 2007-06-28 Sold (Public Records) $35,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,196 · +1.5% YoY. Source: county tax records.