1203 1st Ave · Charles City, IA 50616

$197,000

3 bd · 1.5 ba · 1,676 sqft · SingleFamily public records · 256 Days on market

Built 1976 10,500 sqft lot Est $139k · 42% over ↓ 6% since listing

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Why this score? — see what drove the D 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 +19.2/30.0
• DSCR +6.1/10.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Taking Backups - Call Agent. Discover this spacious, well-maintained 3-bedroom home offering an open-concept floor plan and a fantastic location directly across from Charles City High School and Middle School and the Charley Western Recreational Trail. The main level features a generous living and dining area that flows seamlessly into the kitchen, perfect for everyday living and entertaining. A cozy family room with a gas fireplace provides direct access to the fenced backyard, complete with a concrete patio and a newly finished deck—ideal for outdoor enjoyment. The primary bedroom includes a walk-in closet, and two additional comfortably sized bedrooms provide plenty of space for fa

Key facts

• Walk-in closet
• Gas fireplace
• Concrete patio

Tags

• OPEN-CONCEPT FLOOR PLAN
• FENCED BACKYARD
• CONCRETE PATIO
• NEWLY FINISHED DECK
• GAS FIREPLACE
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $197k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (2.2% below list).
• Recommended offer: $173k (12.0% below list) — sets the bar for market timing.

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: 71 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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 1976 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $139,108
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Highland Ave Ave	0.08mi	3/2.0	1,796 (+7%)	4mo	$170,000	$95	79
714 6th Ave. Ave	0.41mi	3/2.0	1,688 (+1%)	6mo	$145,000	$86	72
114 Central Ave	0.10mi	3/1.5	1,424 (-15%)	1mo	$145,000	$102	69
109 Park Avenue Ave	0.21mi	3/2.0	1,773 (+6%)	17mo	$118,000	$67	65
613 1st Ave	0.42mi	2/1.5 (-1)	1,585 (-5%)	13mo	$140,000	$88	56
302 Patten Ave	0.56mi	3/3.0	1,680 (+0%)	17mo	$140,000	$83	53
714 9th Ave Ave	0.56mi	4/2.0 (+1)	1,822 (+9%)	6mo	$140,000	$77	47
514 8th Ave	0.64mi	3/2.0	1,542 (-8%)	9mo	$88,000	$57	47
317 4th Ave	0.69mi	3/2.0	1,864 (+11%)	1mo	$161,000	$86	47
603 8th Ave	0.64mi	3/1.0	1,544 (-8%)	12mo	$105,000	$68	45
306 2nd Ave	0.71mi	3/2.5	1,859 (+11%)	3mo	$133,000	$72	42
1504 Clark St St	0.69mi	2/2.0 (-1)	1,819 (+8%)	11mo	$79,900	$44	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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-18,402
• Equity at exit: $29,373

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,379
• Equity at exit: $17,033

Cash invested: $55,160 (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: 71
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,927 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $212

Break-even live

Break-even rent $1,658

Max offer price $197,000

Occupancy floor 84%

Sensitivity live

Price	-10% $324	-5% $268	+0% $212	+5% $157	+10% $101
Rent	-10% $60	-5% $136	+0% $212	+5% $288	+10% $365
Rate	-1.0pp $312	-0.5pp $262	base $212	+0.5pp $161	+1.0pp $109

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	$1,927	$2.08	44d	28	0.94mi

Listing history 3 events

1. 2026-04-22
   status Pending
2. 2025-10-24
   price $197,000
3. 2025-08-09
   listed $210,000 Active

ⓘ 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: $2,338 · $195/mo
• Projected year-2 tax: $2,715 · $226/mo
• Expected delta: +$377/yr (+$31/mo · 16.1%)

ⓘ 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 ≥103°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: $23,124
• − Mortgage interest: −$11,035
• − Property taxes: −$2,338
• − Insurance: −$985
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − Depreciation: −$5,731
• Taxable loss: −$665
• Est. tax savings @ 24.0%: +$160
• After-tax cash flow: $2,707/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

-6.2% since first listed

3 events — show timeline

• 2026-04-22 Pending — NEIRBR as distributed by MLS GRID
• 2025-10-24 Price Changed $197,000 NEIRBR as distributed by MLS GRID
• 2025-08-09 Listed $210,000 NEIRBR as distributed by MLS GRID

Property tax history

+0.5%/yr

Latest (2025): $2,338 · -4.3% YoY. Source: county tax records.