502 18th Ave · Charles City, IA 50616

$140,000

3 bd · 2.0 ba · 1,714 sqft · SingleFamily public records · 73 Days on market

Built 1963 9,052 sqft lot $82/sqft · 48% above area Est $115k · 22% 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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 MLS

Spacious 3-bedroom, 2-bath ranch home offering over 2,000 sq ft of living space! This property features a generous deck overlooking the large backyard, and both a main floor living room and lower-level family room—perfect for relaxing or entertaining. The lower level also includes a non-conforming bedroom for added flexibility. Enjoy the convenience of a heated single attached garage plus an additional single detached garage.

Key facts

• Generous deck
• Large backyard
• 9,052 sq ft lot

Tags

• GENEROUS DECK
• LARGE BACKYARD
• MAIN FLOOR LIVING ROOM
• LOWER-LEVEL FAMILY ROOM
• HEATED SINGLE ATTACHED GARAGE
• SINGLE DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 6.7% in Charles 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 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: Washington Elementary School (375 students, 63% FRL); 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 $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $118k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.77%
• DSCR: 1.79
• GRM: 6.1

CMA / ARV

• ARV (median comp): $114,731
• List price: $140,000
• Delta: 22.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 21st Ave	0.41mi	3/2.0	1,700 (-1%)	10mo	$176,000	$104	71
1603 Ohio Ave. Ave	0.48mi	2/2.0 (-1)	1,710 (-0%)	8mo	$126,000	$74	66
901 18th Ave	0.51mi	3/2.0	1,816 (+6%)	2mo	$90,000	$50	65
1802 Missouri Ave	0.43mi	3/2.0	1,645 (-4%)	22mo	$150,000	$91	55
108 15th Ave	0.34mi	3/1.5	1,456 (-15%)	8mo	$84,000	$58	50
714 9th Ave Ave	0.68mi	4/2.0 (+1)	1,822 (+6%)	6mo	$140,000	$77	48
514 8th Ave	0.69mi	3/2.0	1,542 (-10%)	10mo	$88,000	$57	43
603 8th Ave	0.67mi	3/1.0	1,544 (-10%)	12mo	$105,000	$68	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: 9.3%
• Equity multiple: 1.36×
• Total profit: $14,294
• Equity at exit: $20,874

10-year hold

• IRR: 18.4%
• Equity multiple: 2.53×
• Total profit: $60,101
• Equity at exit: $12,105

Cash invested: $39,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,927 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$149 /mo · $1,793/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $580

Break-even live

Break-even rent $1,192

Max offer price $140,000

Occupancy floor 65%

Sensitivity live

Price	-10% $660	-5% $620	+0% $580	+5% $541	+10% $501
Rent	-10% $428	-5% $504	+0% $580	+5% $657	+10% $733
Rate	-1.0pp $651	-0.5pp $616	base $580	+0.5pp $544	+1.0pp $507

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: $35,000
• Closing costs: $4,200
• 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	45d	28	0.30mi

Listing history 25 events

1. 2026-06-21
   days on market $140,000 Active 73 DOM
2. 2026-06-21
   days on market $140,000 Active 72 DOM
3. 2026-06-18
   days on market $140,000 Active 70 DOM
4. 2026-06-17
   days on market $140,000 Active 69 DOM
5. 2026-06-16
   days on market $140,000 Active 68 DOM
6. 2026-06-15
   days on market $140,000 Active 67 DOM
7. 2026-06-13
   days on market $140,000 Active 65 DOM
8. 2026-06-12
   days on market $140,000 Active 64 DOM
9. 2026-06-09
   days on market $140,000 Active 61 DOM
10. 2026-06-08
    days on market $140,000 Active 60 DOM
11. 2026-06-07
    days on market $140,000 Active 59 DOM
12. 2026-06-07
    days on market $140,000 Active 58 DOM
13. 2026-06-04
    days on market $140,000 Active 55 DOM
14. 2026-06-02
    days on market $140,000 Active 54 DOM
15. 2026-06-01
    days on market $140,000 Active 53 DOM
16. 2026-05-31
    days on market $140,000 Active 52 DOM
17. 2026-05-31
    days on market $140,000 Active 51 DOM
18. 2026-04-09
    listed $140,000 Active 435-char remark

    Show marketing remark (435 chars)

    Spacious 3-bedroom, 2-bath ranch home offering over 2,000 sq ft of living space! This property features a generous deck overlooking the large backyard, and both a main floor living room and lower-level family room—perfect for relaxing or entertaining. The lower level also includes a non-conforming bedroom for added flexibility. Enjoy the convenience of a heated single attached garage plus an additional single detached garage.

19. 2023-07-24
    soldstatus $118,000 Closed 654-char remark

    Show marketing remark (654 chars)

    Welcome home to this newly offered three bedroom, 2 bath ranch style home with a large back yard. Over 2000 sq. ft. of living space with 3 bedrooms on the main floor and a non-conforming bedroom in lower level. Main floor opens to living room and large formal dining area. Newer addition features an oversized master bedroom. Gally kitchen completes the main level. Lower level features a family room, laundry room, and bathroom with shower. Attached garage is heated and includes a gas line for easy cooker hookup. Wood deck and additional backyard garage are excellent added features. Owner is moving closer to family and motivated to sell. Call today!

20. 2023-07-21
    soldstatus $118,000
21. 2023-05-28
    status Pending 654-char remark

    Show marketing remark (654 chars)

    Welcome home to this newly offered three bedroom, 2 bath ranch style home with a large back yard. Over 2000 sq. ft. of living space with 3 bedrooms on the main floor and a non-conforming bedroom in lower level. Main floor opens to living room and large formal dining area. Newer addition features an oversized master bedroom. Gally kitchen completes the main level. Lower level features a family room, laundry room, and bathroom with shower. Attached garage is heated and includes a gas line for easy cooker hookup. Wood deck and additional backyard garage are excellent added features. Owner is moving closer to family and motivated to sell. Call today!

22. 2023-05-25
    listed $112,000 Active 654-char remark

    Show marketing remark (654 chars)

    Welcome home to this newly offered three bedroom, 2 bath ranch style home with a large back yard. Over 2000 sq. ft. of living space with 3 bedrooms on the main floor and a non-conforming bedroom in lower level. Main floor opens to living room and large formal dining area. Newer addition features an oversized master bedroom. Gally kitchen completes the main level. Lower level features a family room, laundry room, and bathroom with shower. Attached garage is heated and includes a gas line for easy cooker hookup. Wood deck and additional backyard garage are excellent added features. Owner is moving closer to family and motivated to sell. Call today!

23. 2004-02-11
    soldstatus $77,000
24. 1996-04-24
    soldstatus $65,000
25. 1991-10-07
    soldstatus $53,500

ⓘ 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: $1,793 · $149/mo
• Projected year-2 tax: $1,996 · $166/mo
• Expected delta: +$202/yr (+$17/mo · 11.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: −$7,842
• − Property taxes: −$1,793
• − Insurance: −$700
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − Depreciation: −$4,073
• Taxable income: $5,016
• Est. tax owed @ 24.0%: −$1,204
• After-tax cash flow: $5,761/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

+161.7% since first listed

8 events — show timeline

• 2026-04-09 Listed $140,000 NEIRBR as distributed by MLS GRID
• 2023-07-24 Sold (MLS) $118,000 NEIRBR as distributed by MLS GRID
• 2023-07-21 Sold (Public Records) $118,000 Public Records
• 2023-05-28 Pending — NEIRBR as distributed by MLS GRID
• 2023-05-25 Listed $112,000 NEIRBR as distributed by MLS GRID
• 2004-02-11 Sold (Public Records) $77,000 Public Records
• 1996-04-24 Sold (Public Records) $65,000 Public Records
• 1991-10-07 Sold (Public Records) $53,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,793 · +19.4% YoY. Source: county tax records.