4509 Lafayette Rd · Evansdale, IA 50707

$59,750

1 bd · 1.0 ba · 444 sqft · SingleFamily public records · 69 Days on market

Built 1949 0.38 ac lot $135/sqft · at area comps Est $62k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• 1% rule +8.5/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This economical low maintenance tiny home is a rent beater and opportunity for home ownership. Great for singles or a married couple, first time home buyer or investor purchase. Maybe even an answer for a snow bird. Kitchen appliances negotiable. All new carpet and vinyl through out, Newer vinyl windows and also metal front and side exterior doors. The home sets back from the street and makes it feel private. there is a front covered porch deck and a side deck. Metal carport and a small storage shed. Check it out!

Key facts

• Metal front door
• Vinyl windows
• Front covered porch

Tags

• NEW CARPET
• VINYL WINDOWS
• METAL FRONT DOOR
• METAL SIDE DOOR
• FRONT COVERED PORCH
• SIDE DECK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($810 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.9% in Evansdale — 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 67/100 on livability (#487 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Waterloo Community School District (urban): math 50% / reading 54% proficiency, ranked #276 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 64 active listings in the ZIP; 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 $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $16k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,165 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.35% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (median comp): $62,454
• List price: $59,750
• Delta: -4.33%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.34×
• Total profit: $5,619
• Equity at exit: $8,909

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $24,607
• Equity at exit: $5,166

Cash invested: $16,730 (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 50707

• Active inventory: 64
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $810 medium
• Mortgage (P&I): −$313
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $240

Break-even live

Break-even rent $506

Max offer price $59,750

Occupancy floor 65%

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: $14,938
• Closing costs: $1,792
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Pending 519-char remark

   Show marketing remark (519 chars)

   This economical low maintenance tiny home is a rent beater and opportunity for home ownership. Great for singles or a married couple, first time home buyer or investor purchase. Maybe even an answer for a snow bird. Kitchen appliances negotiable. All new carpet and vinyl through out, Newer vinyl windows and also metal front and side exterior doors. The home sets back from the street and makes it feel private. there is a front covered porch deck and a side deck. Metal carport and a small storage shed. Check it out!

2. 2026-04-17
   price $59,750 519-char remark

   Show marketing remark (519 chars)

   This economical low maintenance tiny home is a rent beater and opportunity for home ownership. Great for singles or a married couple, first time home buyer or investor purchase. Maybe even an answer for a snow bird. Kitchen appliances negotiable. All new carpet and vinyl through out, Newer vinyl windows and also metal front and side exterior doors. The home sets back from the street and makes it feel private. there is a front covered porch deck and a side deck. Metal carport and a small storage shed. Check it out!

3. 2026-04-09
   price $69,500 519-char remark

   Show marketing remark (519 chars)

   This economical low maintenance tiny home is a rent beater and opportunity for home ownership. Great for singles or a married couple, first time home buyer or investor purchase. Maybe even an answer for a snow bird. Kitchen appliances negotiable. All new carpet and vinyl through out, Newer vinyl windows and also metal front and side exterior doors. The home sets back from the street and makes it feel private. there is a front covered porch deck and a side deck. Metal carport and a small storage shed. Check it out!

4. 2026-03-10
   listed $76,000 Active 519-char remark

   Show marketing remark (519 chars)

   This economical low maintenance tiny home is a rent beater and opportunity for home ownership. Great for singles or a married couple, first time home buyer or investor purchase. Maybe even an answer for a snow bird. Kitchen appliances negotiable. All new carpet and vinyl through out, Newer vinyl windows and also metal front and side exterior doors. The home sets back from the street and makes it feel private. there is a front covered porch deck and a side deck. Metal carport and a small storage shed. Check it out!

5. 2021-11-30
   soldstatus $44,000
6. 2021-11-24
   soldstatus $44,000 380-char remark

   Show marketing remark (380 chars)

   This cozy little gem is great for any single gal or guy or married couple first time home buyers or purchase as an investment property current owners were getting $500 per month. All appliances stay with the house all new carpet through out, Windows are also brand new as well as the front and back doors. The neighborhood is very quite and you are tucked back from the main road.

7. 2021-07-25
   listed $49,900 380-char remark

   Show marketing remark (380 chars)

   This cozy little gem is great for any single gal or guy or married couple first time home buyers or purchase as an investment property current owners were getting $500 per month. All appliances stay with the house all new carpet through out, Windows are also brand new as well as the front and back doors. The neighborhood is very quite and you are tucked back from the main road.

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: +$102/yr (+$9/mo · 13.9%)

ⓘ 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 2/10 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: $9,715
• − Mortgage interest: −$3,347
• − Property taxes: −$734
• − Insurance: −$299
• − Repairs & maintenance: −$777
• − Management: −$777
• − Depreciation: −$1,738
• Taxable income: $2,043
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $2,392/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: Waterloo Community School District
• NCES district ID: 1930480
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $42,545
• Composite: 43.72/100
• National rank: #2950
• State rank: #276 of 289 in IA

Livability — Evansdale

• Score: 67/100
• State rank: #487
• US rank: #10824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evansdale, IA
• City population: 7,407
• Population (ZIP): 7,407

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 (80%)
• Race & ethnicity: White 80% Black 8% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Iranian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -121.77%
• Current HPI: 178.5926
• 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

+19.7% since first listed

7 events — show timeline

• 2026-05-18 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-17 Price Changed $59,750 NEIRBR as distributed by MLS GRID
• 2026-04-09 Price Changed $69,500 NEIRBR as distributed by MLS GRID
• 2026-03-10 Listed $76,000 NEIRBR as distributed by MLS GRID
• 2021-11-30 Sold (Public Records) $44,000 Public Records
• 2021-11-24 Sold (MLS) $44,000 NEIRBR as distributed by MLS GRID
• 2021-07-25 Listed $49,900 NEIRBR as distributed by MLS GRID

Property tax history

+1.5%/yr

Latest (2025): $734 · +13.3% YoY. Source: county tax records.