1115 S Rustin St · Sioux City, IA 51106

$189,900

4 bd · 1.0 ba · 1,705 sqft · SingleFamily public records · 30 Days on market

Built 1935 9,583 sqft lot Est $210k · 9% under

---

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 +22.7/30.0
• ARV discount +11.8/15.0
• DSCR +7.3/10.0
• 1% rule +6.8/10.0
• 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

Property is HUD owned and is to be sold As-Is, without repairs or warranties.

Key facts

• Wood flooring
• Finished attic
• Walk-out basement

Tags

• WOOD FLOORING
• STAINLESS STEEL APPLIANCES
• FINISHED ATTIC
• WALK-OUT BASEMENT
• ALUMINUM SIDING
• SHINGLE ROOF

Property features AI

Exterior

• Parking: Attached concrete 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction; 668 sq ft finished area below grade
• Exterior features: Shingle roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.7% in Sioux 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Spalding Park Elementary (math 59% / reading 55%, grade C+, #436 of 616 statewide, top 74%, 652 students, 69% FRL); East Middle School (math 60% / reading 67%, grade B+, #169 of 246 statewide, top 69%, 1,067 students, 65% FRL); East High School (math 53% / reading 63%, grade C, #275 of 336 statewide, top 83%, 1,495 students, 54% FRL).
• Market conditions: 204 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).
• This rent runs 34% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $190k implies a 272% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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 F 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: 1.18% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $209,715
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1500 Linn St	0.34mi	3/2.0 (-1)	1,740 (+2%)	1mo	$172,000	$99	71
1611 Linden Way	0.46mi	4/1.5	1,682 (-1%)	7mo	$190,500	$113	69
514 S Cecelia St	0.51mi	3/2.0 (-1)	1,700 (-0%)	3mo	$210,000	$124	64
701 S Paxton	0.45mi	4/1.0	1,557 (-9%)	2mo	$200,000	$128	63
706 S Westcott St	0.40mi	5/2.0 (+1)	1,835 (+8%)	1mo	$215,000	$117	59
1805 S Helen St	0.53mi	3/2.0 (-1)	1,739 (+2%)	6mo	$178,000	$102	58
1219 S Cornelia St	0.38mi	3/1.5 (-1)	1,552 (-9%)	7mo	$191,000	$123	55
3251 Garretson Ave	0.58mi	5/2.0 (+1)	1,899 (+11%)	1mo	$225,500	$119	44
905 S Saint Marys St	0.61mi	3/2.0 (-1)	1,880 (+10%)	2mo	$275,000	$146	43
704 S Glass St	0.56mi	3/1.0 (-1)	1,453 (-15%)	4mo	$215,000	$148	40
924 S Saint Marys St	0.62mi	4/3.0	1,901 (+12%)	6mo	$300,000	$158	39
3031 Leech Ave	0.57mi	3/1.0 (-1)	1,463 (-14%)	8mo	$177,500	$121	38

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-9,896
• Equity at exit: $28,315

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $18,570
• Equity at exit: $16,419

Cash invested: $53,172 (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 51106

• Active inventory: 204
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,232 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$362 /mo · $4,348/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $326

Break-even live

Break-even rent $1,819

Max offer price $189,900

Occupancy floor 80%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2622 Ridge Ave Sioux City, IA	3.0	2.0	2219	$2,600	$1.17	43d	1	0.17mi
2807 Lincoln Way Sioux City, IA	2.0–3.0	1.0	1100	$1,245	$1.13	43d	4	1.42mi

Listing history 19 events

1. 2026-06-19
   days on market $189,900 Active 30 DOM
2. 2026-06-18
   days on market $189,900 Active 29 DOM
3. 2026-06-17
   price $189,900 Active 28 DOM
4. 2026-06-17
   days on market $194,900 Active 28 DOM
5. 2026-06-16
   days on market $194,900 Active 27 DOM
6. 2026-06-15
   days on market $194,900 Active 26 DOM
7. 2026-06-14
   days on market $194,900 Active 24 DOM
8. 2026-06-12
   pricedays on market $194,900 Active 23 DOM
9. 2026-06-09
   days on market $204,900 Active 20 DOM
10. 2026-06-08
    days on market $204,900 Active 19 DOM
11. 2026-06-07
    days on market $204,900 Active 18 DOM
12. 2026-06-05
    days on market $204,900 Active 15 DOM
13. 2026-06-02
    days on market $204,900 Active 13 DOM
14. 2026-06-01
    days on market $204,900 Active 12 DOM
15. 2026-05-31
    days on market $204,900 Active 11 DOM
16. 2026-05-30
    days on market $204,900 Active 10 DOM
17. 2026-05-20
    listed $214,900 Active
18. 2007-10-24
    soldstatus $51,000 77-char remark

    Show marketing remark (77 chars)

    Property is HUD owned and is to be sold As-Is, without repairs or warranties.

19. 2007-09-07
    listed $56,000 77-char remark

    Show marketing remark (77 chars)

    Property is HUD owned and is to be sold As-Is, without repairs or warranties.

ⓘ 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: $4,348 · $362/mo
• Projected year-2 tax: $4,348 · $362/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 14 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: $26,785
• − Mortgage interest: −$10,637
• − Property taxes: −$4,348
• − Insurance: −$950
• − Repairs & maintenance: −$2,143
• − Management: −$2,143
• − Depreciation: −$5,524
• Taxable income: $1,040
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $3,663/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

Amenities B- Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• County: Woodbury County · 51,789 people
• City population: 51,789
• Metro: Sioux City, IA-NE-SD
• Population (ZIP): 28,592
• Household income: $78,434
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 891.0

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Iranian 4% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.61%
• Current HPI: 229.6733
• Rent YoY: —
• Metro: Sioux City, IA-NE-SD
• 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

+283.8% since first listed

3 events — show timeline

• 2026-05-20 Listed $214,900 NWIA
• 2007-10-24 Sold (MLS) $51,000 DMMLS
• 2007-09-07 Listed $56,000 DMMLS

Property tax history

+9.6%/yr

Latest (2025): $4,348 · +4.2% YoY. Source: county tax records.