520 S 9th St · Burlington, IA 52601

$69,900

2 bd · 1.5 ba · 1,560 sqft · SingleFamily public records · 8 Days on market

Built 1900 4,356 sqft lot Est $97k · 28% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Completely remodeled from top to bottom, this 3-bedroom, 1-bath home is move-in ready and loaded with updates. Recent improvements include a new roof, new gutters, new flooring throughout, fresh paint, and much more. The home also features central air for year-round comfort. Step inside and you'll immediately appreciate the spacious open-concept floor plan that creates a bright and inviting atmosphere. The main level offers two bedrooms, a full bath, and a versatile office space that could potentially be converted into a main-floor laundry room. The lower level includes a third bedroom along with additional storage space. Outside, you'll find a large patio that's perfect for entertaining, g

Key facts

• Fresh paint
• New flooring
• New gutters

Tags

• NEW ROOF
• NEW GUTTERS
• NEW FLOORING
• FRESH PAINT
• CENTRAL AIR
• OPEN-CONCEPT FLOOR PLAN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 0.1 acres (105 x 40); Vinyl siding

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 12.2% 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; 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1900 — 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: 1.47% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $96,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 S Central Ave	0.26mi	3/1.0 (+1)	1,600 (+3%)	2mo	$99,020	$62	75
519 S 8th St	0.03mi	3/1.5 (+1)	1,354 (-13%)	1mo	$50,000	$37	70
910 S 14th St	0.46mi	3/1.0 (+1)	1,552 (-0%)	1mo	$64,000	$41	70
526 S Central Ave	0.11mi	3/1.0 (+1)	1,737 (+11%)	4mo	$73,500	$42	66
241 S 9th St	0.21mi	3/1.0 (+1)	1,386 (-11%)	1mo	$1	—	64
1820 Dill St	0.68mi	3/1.0 (+1)	1,622 (+4%)	1mo	$150,000	$92	54
718 Louisa St. St	0.62mi	3/1.0 (+1)	1,635 (+5%)	4mo	$100,000	$61	53
1200 Perkins Ave	0.64mi	3/2.0 (+1)	1,478 (-5%)	2mo	$104,000	$70	53
1821 Division St	0.71mi	2/1.0	1,383 (-11%)	1mo	$99,500	$72	45
308 S Adams St	0.65mi	3/1.0 (+1)	1,400 (-10%)	4mo	$119,500	$85	43
410 S Starr Ave	0.67mi	3/1.5 (+1)	1,382 (-11%)	5mo	$30,000	$22	40
809 S Starr Ave	0.71mi	3/2.0 (+1)	1,382 (-11%)	3mo	$99,900	$72	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: 13.6%
• Equity multiple: 1.54×
• Total profit: $10,597
• Equity at exit: $10,422

10-year hold

• IRR: 22.4%
• Equity multiple: 2.91×
• Total profit: $37,474
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$72 /mo · $858/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $344

Break-even live

Break-even rent $591

Max offer price $69,900

Occupancy floor 61%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 4th St Unit 214 Burlington, IA	2.0	1.0	1205	$1,295	$1.07	44d	1	0.51mi
1601 Division St Burlington, IA	3.0	1.0	1440	$1,100	$0.76	44d	1	0.59mi

Listing history 8 events

1. 2026-06-19
   days on market $69,900 Active 8 DOM
2. 2026-06-18
   days on market $69,900 Active 7 DOM
3. 2026-06-17
   days on market $69,900 Active 6 DOM
4. 2026-06-16
   days on market $69,900 Active 5 DOM
5. 2026-06-15
   days on market $69,900 Active 4 DOM
6. 2026-06-14
   days on market $69,900 Active 2 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $69,900 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: $858 · $72/mo
• Projected year-2 tax: $978 · $81/mo
• Expected delta: +$120/yr (+$10/mo · 14.0%)

ⓘ 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: $12,324
• − Mortgage interest: −$3,915
• − Property taxes: −$858
• − Insurance: −$350
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$2,033
• Taxable income: $3,196
• Est. tax owed @ 24.0%: −$767
• After-tax cash flow: $3,363/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

1 event — show timeline

• 2026-06-11 Listed $69,900 IAR

Property tax history

+2.6%/yr

Latest (2025): $858 · +14.4% YoY. Source: county tax records.