516 W 11th St · Cedar Falls, IA 50613

$229,900

3 bd · 1.0 ba · 1,642 sqft · SingleFamily public records · 3 Days on market

Built 1924 4,851 sqft lot Est $204k · 13% over

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Why this score? — see what drove the F 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 +7.0/30.0
• Schools +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• 1% rule +1.5/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into timeless charm with this character-filled 1924 home nestled in a desirable Cedar Falls neighborhood! Featuring 4 bedrooms and 2 bathrooms, this beautifully maintained home blends vintage craftsmanship with thoughtful updates. The updated kitchen offers modern convenience while preserving the home's classic appeal, and the formal dining room is perfect for gathering with family and friends. Throughout the home, you'll find original details that tell its story—vintage hardware, beautiful built-in cabinetry, and a stunning cast iron clawfoot tub that adds to its historic charm. Enjoy your morning coffee in the enclosed porch or unwind on the welcoming front porch, complete with

Key facts

• Built-in cabinetry
• Formal dining room
• Original details

Tags

• UPDATED KITCHEN
• FORMAL DINING ROOM
• ORIGINAL DETAILS
• VINTAGE HARDWARE
• BUILT-IN CABINETRY
• CAST IRON CLAWFOOT TUB

Property features AI

Exterior

• Parking: Detached carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Wood siding; Shingle/asphalt roof
• Exterior features: Covered, enclosed porch/patio

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Disposal
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans; Window AC units
• Interior features: One fireplace; Unfinished basement
• Laundry & utility: Washer; Dryer; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-338 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (26.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (35.3% below list).
• Recommended offer: $149k (35.3% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.1% in Cedar Falls — 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 81/100 on livability (#60 in IA, #1,357 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Cedar Falls Community School District (urban): math 76% / reading 79% proficiency, ranked #45 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Lincoln Elementary School (math 66% / reading 71%, grade B+, #266 of 616 statewide, top 43%, 453 students, 45% FRL); Holmes Junior High School (math 79% / reading 78%, grade A+, #44 of 246 statewide, top 19%, 639 students, 28% FRL); Cedar Falls High School (math 74% / reading 78%, grade A-, #75 of 336 statewide, top 23%, 1,302 students, 24% FRL).
• Market conditions: Rents rising (+2.0%/yr); 387 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,838 (35.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.31%
• DSCR: 0.72
• GRM: 12.9

CMA / ARV

• ARV (on-the-fly): $203,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 Tremont St	0.10mi	4/1.0 (+1)	1,700 (+4%)	6mo	$247,000	$145	80
211 W 9th St	0.27mi	3/1.5	1,574 (-4%)	6mo	$185,000	$118	73
623 W 6th St	0.35mi	3/1.0	1,463 (-11%)	2mo	$182,000	$124	64
1025 W 8th St	0.40mi	4/2.0 (+1)	1,600 (-3%)	6mo	$180,000	$113	63
1422 Main St	0.41mi	4/2.0 (+1)	1,732 (+6%)	1mo	$160,000	$92	62
1710 College St	0.44mi	4/2.0 (+1)	1,577 (-4%)	6mo	$167,500	$106	59
1504 W 4th St	0.74mi	3/1.0	1,719 (+5%)	3mo	$270,000	$157	55
909 Grove St	0.52mi	3/2.0	1,462 (-11%)	1mo	$180,000	$123	53
1415 Clark Dr	0.70mi	3/1.5	1,732 (+6%)	5mo	$260,900	$151	52
1016 W 3rd St	0.60mi	3/1.0	1,807 (+10%)	6mo	$198,000	$110	51
1212 W 7th St	0.50mi	4/2.0 (+1)	1,816 (+11%)	6mo	$241,000	$133	45
1522 W 5th St	0.74mi	3/2.0	1,872 (+14%)	2mo	$291,000	$155	36

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 · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -28.3%
• Equity multiple: 0.06×
• Total profit: $-60,348
• Equity at exit: $34,279

10-year hold

• IRR: -31.6%
• Equity multiple: -0.34×
• Total profit: $-86,523
• Equity at exit: $19,878

Cash invested: $64,372 (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 50613

• Rents YoY: 2.0%
• Active inventory: 387
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$213 /mo · $2,552/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-338

Break-even live

Break-even rent $1,917

Max offer price $170,145

Occupancy floor —

Sensitivity live

Price	-10% $-208	-5% $-273	+0% $-338	+5% $-403	+10% $-468
Rent	-10% $-456	-5% $-397	+0% $-338	+5% $-279	+10% $-221
Rate	-1.0pp $-222	-0.5pp $-280	base $-338	+0.5pp $-398	+1.0pp $-458

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Main St Cedar Falls, IA	2.0	1.0	1400	$1,500	$1.07	44d	1	0.35mi
1803 Franklin St Unit 1803 Cedar Falls, IA	4.0	1.0	1200	$1,400	$1.17	44d	1	0.43mi
221 E 5th St #209 Cedar Falls, IA	2.0	2.0	1200	$2,000	$1.67	44d	1	0.60mi
1902 Campus St Cedar Falls, IA	3.0	2.0	1300	$1,350	$1.04	22d	1	0.63mi
1320-1322 Delta Dr Unit 1322 (South Side) Cedar Falls, IA	3.0	2.0	1664	$1,350	$0.81	44d	1	0.72mi
2208 Walnut St Cedar Falls, IA	3.0	1.0	1380	$1,400	$1.01	44d	1	0.73mi
1823-1825 Alden Ave Unit 1825 Cedar Falls, IA	2.0	1.0	1133	$1,250	$1.10	44d	1	0.80mi
2311 Olive St Cedar Falls, IA	3.0–4.0	1.0	1050	$995	$0.95	22d	2	0.80mi
604 W Seerley Blvd Cedar Falls, IA	4.0	1.5	1600	$1,300	$0.81	22d	1	0.85mi
1815 W 18th St Cedar Falls, IA	1.0–3.0	1.0–3.0	1065	$1,500	$1.41	22d	7	0.87mi
2110 Melrose Ct Cedar Falls, IA	4.0	2.0	1100	$1,250	$1.14	22d	1	0.92mi
2515 Olive St Cedar Falls, IA	3.0	1.0	1380	$975	$0.71	22d	1	0.95mi
2609 Olive St Cedar Falls, IA	4.0	2.0–2.5	1568	$1,750	$1.12	22d	6	1.00mi

Listing history 4 events

1. 2026-06-19
   days on market $229,900 Active 3 DOM
2. 2026-06-18
   days on market $229,900 Active 2 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   listed $229,900 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: $2,552 · $213/mo
• Projected year-2 tax: $3,081 · $257/mo
• Expected delta: +$529/yr (+$44/mo · 20.7%)

ⓘ 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 ≥101°F today · 15 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: $17,861
• − Mortgage interest: −$12,878
• − Property taxes: −$2,552
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$6,688
• Taxable loss: −$8,265
• Est. tax savings @ 24.0%: +$1,984
• After-tax cash flow: $-2,076/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: Cedar Falls Community School District
• NCES district ID: 1906510
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 79% ▼ -2.00%
• Median HH income: $53,634
• Composite: 65.93/100
• National rank: #443
• State rank: #45 of 289 in IA

Livability — Cedar Falls

• Score: 81/100
• State rank: #60
• US rank: #1357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Falls, IA
• County: Black Hawk County · 112,933 people
• City population: 43,867
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 43,867
• Household income: $78,503
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1514.0

Population outlook (Black Hawk County) Hauer SSP2

• Today (2025): 139,716 people
• By 2030: 142,853 · +2.2%
• By 2040: 147,843 · +5.8%
• By 2050: 153,247 · +9.7%
• By 2075: 167,977 · +20.2%
• By 2100: 177,320 · +26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Italian 3% Iranian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Black Hawk

• 2024 margin: Toss-up / Even · D 50.0% · R 48.8% · Other 1.2%
• 2008→2024 swing: -21.3pp toward R · 2008: 22.4pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+9.0 2016: D+7.3 2012: D+20.0 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.51%
• Current HPI: 169.0591
• Rent YoY: ▲ 1.97%
• Metro: Waterloo-Cedar Falls, IA
• 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

• 2026-06-16 Listed $229,900 NEIRBR as distributed by MLS GRID

Property tax history

+1.3%/yr

Latest (2025): $2,552 · -1.1% YoY. Source: county tax records.