722 Armory Ave · Chariton, IA 50049

$89,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 12 Days on market

Built 1900 2,614 sqft lot Est $108k · 17% 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 +28.9/30.0
• ARV discount +14.9/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity. 2 beds 1 bath and unfinished basement. Home is being SOLD AS IS

Key facts

• New siding
• Formal dining room
• Remodeled kitchen

Tags

• NEW SIDING
• NEW WINDOWS
• NEW ROOF
• REMODELED KITCHEN
• FORMAL DINING ROOM
• LIVING ROOM

Property features AI

Finance

• Other: Located on Armory Avenue between S 7th and S 8th Streets in Chariton

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding
• Exterior features: Lot approximately 30' x 90' (0.06 acre)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Basement present; No central cooling

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.4% vs local median 4.1% in Chariton — 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 80/100 on livability (#84 in IA, #1,703 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Chariton Community School District (town): math 57% / reading 65% proficiency, ranked #241 of 289 in IA (top 83%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3 units permitted in Lucas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lucas County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $14k; list at $90k implies a 542% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,900

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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.22% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.54%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $107,712
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 Armory Ave	0.08mi	2/1.5	840 (+3%)	15mo	$128,000	$152	77
215 S 12th St	0.37mi	2/1.0	833 (+2%)	9mo	$75,000	$90	72
212 Armory Ave	0.46mi	2/1.0	810 (-1%)	12mo	$47,000	$58	67
722 Armory Ave	0.00mi	2/1.0	700 (-14%)	11mo	$13,999	$20	67
1416 Court Ave	0.57mi	2/1.0	832 (+2%)	11mo	$110,000	$132	61
1521 Armory Ave	0.62mi	2/1.0	816 (0%)	14mo	$120,000	$147	59
1520 Linden Ave	0.64mi	2/1.0	848 (+4%)	23mo	$105,000	$124	45
711 S 7th Street St	0.40mi	2/1.5	936 (+15%)	18mo	$132,250	$141	40
203 N 16th St	0.75mi	2/1.0	918 (+12%)	17mo	$179,500	$196	30

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: 5.0%
• Equity multiple: 1.19×
• Total profit: $4,835
• Equity at exit: $13,404

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $29,143
• Equity at exit: $7,773

Cash invested: $25,172 (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 50049

• Home prices YoY: -4.4%
• Active inventory: 81
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$55 /mo · $662/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $305

Break-even live

Break-even rent $714

Max offer price $89,900

Occupancy floor 67%

Sensitivity live

Price	-10% $356	-5% $330	+0% $305	+5% $279	+10% $254
Rent	-10% $218	-5% $261	+0% $305	+5% $348	+10% $392
Rate	-1.0pp $350	-0.5pp $328	base $305	+0.5pp $282	+1.0pp $258

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1833 Curtis Ave Unit A210 Chariton, IA	2.0	2.0	954	$1,100	$1.15	44d	1	1.40mi

Listing history 9 events

1. 2026-06-21
   days on market $89,900 Active 12 DOM
2. 2026-06-18
   days on market $89,900 Active 10 DOM
3. 2026-06-17
   days on market $89,900 Active 9 DOM
4. 2026-06-16
   days on market $89,900 Active 8 DOM
5. 2026-06-15
   days on market $89,900 Active 7 DOM
6. 2026-06-13
   days on market $89,900 Active 5 DOM
7. 2026-06-12
   days on market $89,900 Active 4 DOM
8. 2026-06-09
   remarks 308-char remark
9. 2026-06-09
   listed $89,900 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: $662 · $55/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$375/yr (+$31/mo · 56.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,200
• − Mortgage interest: −$5,036
• − Property taxes: −$662
• − Insurance: −$450
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,615
• Taxable income: $2,325
• Est. tax owed @ 24.0%: −$558
• After-tax cash flow: $3,101/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: Chariton Community School District
• NCES district ID: 1907050
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 65% ▼ -6.00%
• Median HH income: $44,415
• Composite: 51.35/100
• National rank: #1738
• State rank: #241 of 289 in IA

Livability — Chariton

• Score: 80/100
• State rank: #84
• US rank: #1703

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chariton, IA
• Population (ZIP): 6,425

Population outlook (Lucas County) Hauer SSP2

• Today (2025): 8,106 people
• By 2030: 7,755 · -4.3%
• By 2040: 7,007 · -13.6%
• By 2050: 6,265 · -22.7%
• By 2075: 4,926 · -39.2%
• By 2100: 3,792 · -53.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Iranian 3% Italian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Lucas

• 2024 margin: Solid R (+48.1) · D 25.2% · R 73.3% · Other 1.5%
• 2008→2024 swing: -41.4pp toward R · 2008: -6.7pp · 2024: -48.1pp
• All cycles: 2024: R+48.1 2020: R+43.3 2016: R+38.1 2012: R+6.3 2008: R+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.20%
• Current HPI: 220.0223
• 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

+259.6% since first listed

4 events — show timeline

• 2026-06-08 Listed $89,900 IAR
• 2025-07-08 Sold (MLS) $13,999 DMMLS
• 2025-06-13 Pending — DMMLS
• 2025-04-28 Listed $25,000 DMMLS

Property tax history

+11.6%/yr

Latest (2025): $662 · +5.8% YoY. Source: county tax records.