The determination of dynamic aperture in storage rings and colliders is a numerically intensive procedure. When realistic space-charge forces come into consideration, the numerical load becomes even heavier. Furthermore, dynamic aperture estimation using chaos indicators like frequency map analysis (FMA) raises reliability issues when the dynamical system has a time-dependent perturbation like the space-charge force. In this article, we apply a rapidly converging chaos indicator called reversibility error method (REM) to study the space-charge contribution to the dynamic aperture of the integrable optics test accelerator (IOTA) storage ring at a small value of the space charge tune shift. The strength of REM is addressed through examples, including a particle-core model of halo formation. We also develop a toy model of the IOTA lattice to further reduce the computing time required to estimate the dynamic aperture, and we compare this model with a realistic space-charge simulation for verification.