1519 Ashmun St · Burlington, IA 52601

$60,000

2 bd · 1.5 ba · 1,096 sqft · SingleFamily public records · 24 Days on market

Built 1940 2,614 sqft lot $55/sqft · 7% above area Est $46k · 30% 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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 2-bedroom, 1-bath home ready for its new owners! This property features brand new flooring in the living room and bedrooms, along with an updated bathroom complete with tile flooring and a spacious bathtub. Enjoy the convenience of a tuck-under one-stall garage and the potential to finish the basement for additional living space. Call for a showing today!

Key facts

• Spacious bathtub
• New flooring
• Tile flooring

Tags

• NEW FLOORING
• UPDATED BATHROOM
• TILE FLOORING
• SPACIOUS BATHTUB
• TUCK-UNDER GARAGE
• FINISH THE BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.7% 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: 184 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $59,100 (1.5% below list)

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. 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?
4. 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.
5. 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.
6. 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: 1.69% ✓
• Cap rate: 13.71%
• Cash-on-cash: 26.47%
• DSCR: 2.18
• GRM: 4.9

CMA / ARV

• ARV (median comp): $45,983
• List price: $60,000
• Delta: 30.48%
• 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
830 North St	0.30mi	2/1.0	1,086 (-1%)	6mo	$45,500	$42	78
1227 N 6th St	0.41mi	2/1.0	1,088 (-1%)	8mo	$65,000	$60	71
1209 Virginia Ave	0.17mi	3/1.0 (+1)	1,191 (+9%)	6mo	$74,000	$62	65
1316 Corse St	0.22mi	2/1.0	1,224 (+12%)	5mo	$82,500	$67	64
1104 Arch St	0.50mi	2/1.0	1,144 (+4%)	5mo	$10,000	$9	63
2120 Gnahn St St	0.57mi	2/1.0	1,115 (+2%)	11mo	$125,000	$112	59
911 Wells St	0.42mi	2/1.0	1,008 (-8%)	12mo	$70,000	$69	55
2034 Conner Ave	0.48mi	2/1.0	1,003 (-8%)	8mo	$21,000	$21	55
1412 Iowa St	0.29mi	2/1.5	936 (-15%)	11mo	$82,447	$88	53
2068 Highland Ave	0.45mi	3/1.5 (+1)	1,186 (+8%)	11mo	$219,000	$185	51
1954 Ernst St	0.57mi	2/1.0	1,198 (+9%)	12mo	$90,000	$75	46
1308 Plank St	0.74mi	3/1.0 (+1)	1,248 (+14%)	6mo	$90,000	$72	30

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: 20.3%
• Equity multiple: 1.83×
• Total profit: $13,906
• Equity at exit: $8,946

10-year hold

• IRR: 28.5%
• Equity multiple: 3.54×
• Total profit: $42,603
• Equity at exit: $5,188

Cash invested: $16,800 (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: 184
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $371

Break-even live

Break-even rent $544

Max offer price $60,000

Occupancy floor 58%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 5th St Unit 402 Burlington, IA	1.0	1.0	1025	$1,020	$1.00	44d	1	1.06mi
116 N 4th St Unit 205 Burlington, IA	1.0	1.0	930	$900	$0.97	44d	1	1.10mi
116 N 4th St Unit 214 Burlington, IA	2.0	1.0	1205	$1,295	$1.07	44d	1	1.10mi
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	44d	1	1.24mi

Listing history 6 events

1. 2026-05-15
   status Pending 373-char remark

   Show marketing remark (373 chars)

   Well-maintained 2-bedroom, 1-bath home ready for its new owners! This property features brand new flooring in the living room and bedrooms, along with an updated bathroom complete with tile flooring and a spacious bathtub. Enjoy the convenience of a tuck-under one-stall garage and the potential to finish the basement for additional living space. Call for a showing today!

2. 2026-04-30
   price $60,000 373-char remark

   Show marketing remark (373 chars)

   Well-maintained 2-bedroom, 1-bath home ready for its new owners! This property features brand new flooring in the living room and bedrooms, along with an updated bathroom complete with tile flooring and a spacious bathtub. Enjoy the convenience of a tuck-under one-stall garage and the potential to finish the basement for additional living space. Call for a showing today!

3. 2026-04-20
   listed $67,000 Active 373-char remark

   Show marketing remark (373 chars)

   Well-maintained 2-bedroom, 1-bath home ready for its new owners! This property features brand new flooring in the living room and bedrooms, along with an updated bathroom complete with tile flooring and a spacious bathtub. Enjoy the convenience of a tuck-under one-stall garage and the potential to finish the basement for additional living space. Call for a showing today!

4. 2016-01-04
   soldstatus $54,000
5. 2015-12-29
   soldstatus $54,000 299-char remark

   Show marketing remark (299 chars)

   Cute two bedroom, two bath starter home ready to move into. Laundry on main floor. New water heater 2010, remodeled upstairs bath in 2012, new high efficiency furnace 2013, new garage roof 2015. Usuable basement plus attached basement garage. FHA loan a real possibility with this one. Priced right!

6. 2015-10-26
   listed $60,000 299-char remark

   Show marketing remark (299 chars)

   Cute two bedroom, two bath starter home ready to move into. Laundry on main floor. New water heater 2010, remodeled upstairs bath in 2012, new high efficiency furnace 2013, new garage roof 2015. Usuable basement plus attached basement garage. FHA loan a real possibility with this one. Priced right!

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,080 · $90/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 1/10 Low
• 🌡 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: $12,156
• − Mortgage interest: −$3,361
• − Property taxes: −$1,080
• − Insurance: −$300
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$1,745
• Taxable income: $3,724
• Est. tax owed @ 24.0%: −$894
• After-tax cash flow: $3,553/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

+0.0% since first listed

6 events — show timeline

• 2026-05-15 Pending — IAR
• 2026-04-30 Price Changed $60,000 IAR
• 2026-04-20 Listed $67,000 IAR
• 2016-01-04 Sold (Public Records) $54,000 Public Records
• 2015-12-29 Sold (MLS) $54,000 IAR
• 2015-10-26 Listed $60,000 IAR

Property tax history

+0.9%/yr

Latest (2025): $1,080 · +14.4% YoY. Source: county tax records.