2104 Melvin Ave · Burlington, IA 52601

$105,000

3 bd · 1.5 ba · 1,288 sqft · SingleFamily public records · 7 Days on market

Built 1930 9,583 sqft lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• 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

Bright and sunny 1 story with a remodel conversion which added 500 sq. ft. of living space. This well maintained home is insulated with low utilities. Beautiful hardwood kitchen floor, new bathroom with spacious laundry utility area. Enjoy the deck and large fenced yard.

Key facts

• Attached carport
• Primary suite
• Converted garage

Tags

• CONVERTED GARAGE
• PRIMARY SUITE
• FULLY FENCED BACKYARD
• ESTABLISHED LANDSCAPING
• LARGE CONCRETE DRIVEWAY
• ATTACHED CARPORT

Property features AI

Exterior

• Parking: One covered carport; One garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Metal siding construction
• Exterior features: Full chain-link fence; Shingle roof; Public maintained road access; City street frontage; Lot approximately 0.22 acres (80 x 120)

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: One full bathroom and one half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Range, Refrigerator, Washer, Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 9.5% 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; 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 $726 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 $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $79k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1930 — 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: 1.16% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $220,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2207 Charles Ave	0.09mi	3/2.0	1,320 (+2%)	4mo	$150,000	$114	86
1907 Racine Ave	0.23mi	3/1.5	1,152 (-11%)	3mo	$168,000	$146	69
108 Cutter Pl	0.18mi	3/2.0	1,166 (-10%)	6mo	$215,000	$184	69
1913 Racine Ave	0.23mi	4/1.5 (+1)	1,464 (+14%)	8mo	$119,000	$81	55
314 West Burlington Ave	0.66mi	3/2.0	1,200 (-7%)	2mo	$205,500	$171	54
1731 Deer Run Dr	0.50mi	2/2.0 (-1)	1,344 (+4%)	13mo	$275,000	$205	52
2801 Sunnyside Ave	0.63mi	2/2.5 (-1)	1,370 (+6%)	6mo	$243,000	$177	46
1720 Weimer St. St	0.61mi	3/2.0	1,106 (-14%)	1mo	$190,000	$172	45
2827 Lesylvia St St	0.52mi	4/2.0 (+1)	1,096 (-15%)	3mo	$227,900	$208	41
2635 Mount Pleasant St., Unit 7 St	0.63mi	2/2.0 (-1)	1,387 (+8%)	13mo	$235,000	$169	40
2728 Sunnyside Ave	0.73mi	3/1.0	1,140 (-12%)	7mo	$137,500	$121	39
218 Ballard St	0.72mi	3/1.0	1,115 (-13%)	16mo	$54,000	$48	29

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $907
• Equity at exit: $15,656

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $23,847
• Equity at exit: $9,078

Cash invested: $29,400 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$90 /mo · $1,082/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $281

Break-even live

Break-even rent $867

Max offer price $105,000

Occupancy floor 72%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-16
   status $105,000 Pending 7 DOM
2. 2026-06-15
   days on market $105,000 Active 7 DOM
3. 2026-06-14
   days on market $105,000 Active 5 DOM
4. 2026-06-12
   days on market $105,000 Active 4 DOM
5. 2026-06-09
   remarks 699-char remark
6. 2026-06-09
   listed $105,000 Active 1 DOM

ⓘ 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: $1,082 · $90/mo
• Projected year-2 tax: $1,365 · $114/mo
• Expected delta: +$283/yr (+$24/mo · 26.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $14,674
• − Mortgage interest: −$5,882
• − Property taxes: −$1,082
• − Insurance: −$525
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$3,055
• Taxable income: $1,783
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $2,950/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

+33.1% since first listed

4 events — show timeline

• 2026-06-08 Listed $105,000 IAR
• 2019-01-18 Sold (Public Records) $79,000 Public Records
• 2019-01-18 Sold (MLS) $78,900 IAR
• 2018-10-29 Listed $78,900 IAR

Property tax history

+3.8%/yr

Latest (2025): $1,082 · +15.1% YoY. Source: county tax records.