1360 Dell St

Dubuque, IA 52001

$57,500B

3 bd · 1.0 ba · 880 sqft · Built 1900 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,233/mo
• Mortgage (P&I): −$302
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $521/mo
• Annual: $6,247/yr
• Cap rate: 17.16%
• Cash-on-cash: 38.80%
• DSCR: 2.73
• 1% rule: 2.14%
• Cash to close: $16,100

Investor read

• This is a 3-bed/1.0-bath single-family listed at $58k.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• It's been on market 44 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $398 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Elementary School (math 42% / reading 42%, grade F, #563 of 616 statewide, top 93%, 255 students, 68% FRL); Dubuque Senior High School (math 63% / reading 74%, grade B, #181 of 336 statewide, top 54%, 1,435 students, 36% FRL) — zoned schools average 52% FRL vs 32% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $38k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.2% vs local median 3.5% in Dubuque — 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.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.
• 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.
• 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.