119 S Garfield St · Burlington, IA 52601

$28,900

3 bd · 1.5 ba · 1,306 sqft · SingleFamily public records · 7 Days on market

Built 1908 9,660 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Great investment opportunity! This property offers strong potential for rental income, fix-and-flip, or owner-occupant investment. Convenient location near local amenities and a great layout. Rear slab offers off-street parking potential or space to build a garage. Schedule your tour today!

Key facts

• Local amenities
• Rental income
• Off-street parking

Tags

• INVESTMENT OPPORTUNITY
• RENTAL INCOME
• OFF-STREET PARKING
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 60 x 161

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Cap rate 34.4% 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.
• Zoned schools: Black Hawk Elementary School (math 52% / reading 52%, grade C-, #494 of 616 statewide, top 83%, 316 students, 72% FRL); Edward Stone Middle School (math 34% / reading 48%, grade F, #236 of 246 statewide, top 96%, 489 students, 63% FRL); Burlington Community High School (math 45% / reading 64%, grade C-, #290 of 336 statewide, top 87%, 1,092 students, 58% FRL).
• Market conditions: 189 active listings in the ZIP; 2 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 $200 of loan paydown is wiped out by about $867 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $16k; list at $29k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,900

Questions for the listing agent

1. Built in 1908 — 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: 3.84% ✓
• Cap rate: 34.44%
• Cash-on-cash: 100.54%
• DSCR: 5.47
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $94,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1615 Smith St	0.06mi	3/1.5	1,300 (-0%)	2mo	$63,000	$48	95
104 S Leebrick St	0.06mi	3/2.0	1,248 (-4%)	2mo	$94,000	$75	86
1821 Division St	0.20mi	2/1.0 (-1)	1,383 (+6%)	2mo	$99,500	$72	72
209 S 8th St	0.51mi	3/1.0	1,291 (-1%)	2mo	$71,500	$55	71
713 Market St	0.56mi	3/2.0	1,315 (+1%)	3mo	$120,000	$91	68
241 S 9th St	0.48mi	3/1.0	1,386 (+6%)	1mo	$1	—	64
671 Higbee Ave	0.52mi	3/1.0	1,241 (-5%)	2mo	$27,000	$22	64
519 S 8th St	0.65mi	3/1.5	1,354 (+4%)	1mo	$50,000	$37	63
2513 Sunrise Ln	0.60mi	4/2.5 (+1)	1,248 (-4%)	3mo	$195,500	$157	52
803 Haskell St	0.72mi	3/2.5	1,456 (+12%)	1mo	$212,000	$146	43
564 S Central Ave Ave	0.63mi	2/1.0 (-1)	1,122 (-14%)	2mo	$66,500	$59	39
2300 West Ave	0.73mi	2/2.0 (-1)	1,146 (-12%)	2mo	$170,000	$148	37

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: —
• Equity multiple: 5.76×
• Total profit: $38,514
• Equity at exit: $4,309

10-year hold

• IRR: —
• Equity multiple: 12.02×
• Total profit: $89,208
• Equity at exit: $2,499

Cash invested: $8,092 (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: 189
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,111 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $434/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $678

Break-even live

Break-even rent $253

Max offer price $28,900

Occupancy floor 34%

Sensitivity live

Price	-10% $698	-5% $688	+0% $678	+5% $668	+10% $658
Rent	-10% $590	-5% $634	+0% $678	+5% $722	+10% $766
Rate	-1.0pp $693	-0.5pp $685	base $678	+0.5pp $670	+1.0pp $663

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: $7,225
• Closing costs: $867
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	45d	1	0.11mi
116 N 4th St Unit 214 Burlington, IA	2.0	1.0	1205	$1,295	$1.07	45d	1	0.79mi

Listing history 7 events

1. 2026-06-03
   days on market $28,900 Active 7 DOM
2. 2026-06-02
   days on market $28,900 Active 6 DOM
3. 2026-06-01
   days on market $28,900 Active 5 DOM
4. 2026-05-31
   days on market $28,900 Active 4 DOM
5. 2026-05-30
   days on market $28,900 Active 3 DOM
6. 2026-05-28
   listed $28,900 Active
7. 2026-04-16
   soldstatus $16,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $13,332
• − Mortgage interest: −$1,619
• − Property taxes: −$434
• − Insurance: −$144
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$841
• Taxable income: $8,161
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $6,177/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

+75.2% since first listed

2 events — show timeline

• 2026-05-28 Listed $28,900 IAR
• 2026-04-16 Sold (Public Records) $16,500 Public Records

Property tax history

+11.5%/yr

Latest (2025): $5,182 · +332.6% YoY. Source: county tax records.