1302 S 12th St St · Burlington, IA 52601

$84,900

3 bd · 1.5 ba · 994 sqft · SingleFamily public records · 23 Days on market

Built 1888 4,661 sqft lot $85/sqft · 53% above area Est $90k · 6% under

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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 +27.8/30.0
• ARV discount +10.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.5/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to a home that’s ready for you—or your next investment opportunity. Enjoy a spacious living and dining area filled with natural light, along with an eat-in kitchen designed for everyday comfort. You’ll appreciate the ample storage, lighted closets, new carpet, and convenient main-floor laundry just off the kitchen. The functional layout includes a main-floor bedroom and full bath, while upstairs features a large, newly designed bedroom with a sitting area, full bath, and generous closet space—perfect for creating your own private retreat. Situated on a corner lot, this property offers off-street parking with an enclosed carport. Located near parks, shopping, and schools, this is an opportunity you won’t want to miss.

Key facts

• Lighted closets
• Main-floor bedroom
• Full bath

Tags

• EAT-IN KITCHEN
• AMPLE STORAGE
• LIGHTED CLOSETS
• MAIN-FLOOR LAUNDRY
• MAIN-FLOOR BEDROOM
• FULL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 1 comparable units currently listed for rent nearby; 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 $587 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $85k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1888 — 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: 1.25% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.10%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $89,967
• List price: $84,900
• Delta: -5.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 S 10th St	0.12mi	2/1.0 (-1)	927 (-7%)	1mo	$29,401	$32	75
610 Walnut St	0.37mi	3/1.5	1,024 (+3%)	3mo	$100,600	$98	75
905 S 10th St	0.26mi	2/1.0 (-1)	1,023 (+3%)	3mo	$80,000	$78	73
1609 Acres St	0.34mi	2/1.0 (-1)	912 (-8%)	0mo	$124,000	$136	63
612 S Central Ave	0.47mi	2/1.0 (-1)	936 (-6%)	3mo	$70,000	$75	58
2107 S Central Ave	0.53mi	2/1.0 (-1)	1,084 (+9%)	0mo	$116,500	$107	53
1207 S 7th St	0.30mi	2/1.0 (-1)	1,142 (+15%)	2mo	$55,000	$48	53
1809 S 15th St	0.38mi	2/1.0 (-1)	850 (-14%)	1mo	$58,000	$68	50
564 S Central Ave Ave	0.52mi	2/1.0 (-1)	1,122 (+13%)	1mo	$66,500	$59	46
2123 S Central Ave	0.56mi	2/1.0 (-1)	1,123 (+13%)	0mo	$63,500	$57	45
137 Greenbrier Dr	0.62mi	4/1.5 (+1)	1,120 (+13%)	0mo	$195,000	$174	45
831 Hedge Ave	0.48mi	2/1.0 (-1)	1,132 (+14%)	3mo	$92,500	$82	45

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $2,782
• Equity at exit: $12,659

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $23,756
• Equity at exit: $7,341

Cash invested: $23,772 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $259

Break-even live

Break-even rent $736

Max offer price $84,900

Occupancy floor 71%

Sensitivity live

Price	-10% $308	-5% $284	+0% $259	+5% $235	+10% $211
Rent	-10% $175	-5% $217	+0% $259	+5% $302	+10% $344
Rate	-1.0pp $302	-0.5pp $281	base $259	+0.5pp $237	+1.0pp $215

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2216 Piper Pl Unit 1 Burlington, IA	2.0	1.0	728	$875	$1.20	44d	1	0.69mi

Listing history 4 events

1. 2026-05-14
   status Pending 764-char remark

   Show marketing remark (764 chars)

   Welcome to a home that’s ready for you—or your next investment opportunity. Enjoy a spacious living and dining area filled with natural light, along with an eat-in kitchen designed for everyday comfort. You’ll appreciate the ample storage, lighted closets, new carpet, and convenient main-floor laundry just off the kitchen. The functional layout includes a main-floor bedroom and full bath, while upstairs features a large, newly designed bedroom with a sitting area, full bath, and generous closet space—perfect for creating your own private retreat. Situated on a corner lot, this property offers off-street parking with an enclosed carport. Located near parks, shopping, and schools, this is an opportunity you won’t want to miss.

2. 2026-04-20
   listed $84,900 Active 764-char remark

   Show marketing remark (764 chars)

   Welcome to a home that’s ready for you—or your next investment opportunity. Enjoy a spacious living and dining area filled with natural light, along with an eat-in kitchen designed for everyday comfort. You’ll appreciate the ample storage, lighted closets, new carpet, and convenient main-floor laundry just off the kitchen. The functional layout includes a main-floor bedroom and full bath, while upstairs features a large, newly designed bedroom with a sitting area, full bath, and generous closet space—perfect for creating your own private retreat. Situated on a corner lot, this property offers off-street parking with an enclosed carport. Located near parks, shopping, and schools, this is an opportunity you won’t want to miss.

3. 2007-08-16
   soldstatus $38,500
4. 2006-08-17
   soldstatus $65,000

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$61/yr (+$5/mo · 5.1%)

ⓘ 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 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: $12,774
• − Mortgage interest: −$4,756
• − Property taxes: −$1,210
• − Insurance: −$424
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$2,470
• Taxable income: $1,870
• Est. tax owed @ 24.0%: −$449
• After-tax cash flow: $2,665/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

+30.6% since first listed

4 events — show timeline

• 2026-05-14 Pending — IAR
• 2026-04-20 Listed $84,900 IAR
• 2007-08-16 Sold (Public Records) $38,500 Public Records
• 2006-08-17 Sold (Public Records) $65,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,210 · +14.4% YoY. Source: county tax records.