423 Archer Ave · Waterloo, IA 50703

$86,000

2 bd · 1.0 ba · 1,503 sqft · SingleFamily public records · 9 Days on market

Built 1931 7,100 sqft lot Est $140k · 38% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Schools +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 423 Archer Ave in Waterloo—offering space, character, and room to grow! From the moment you step inside the front enclosed porch, it leads you to the large living room that you will appreciate, complete with a cozy fireplace that creates the perfect focal point for relaxing evenings or gathering with friends and family. The layout offers great functionality, featuring a separate dining room that flows nicely from the kitchen—ideal for everyday meals or hosting. A convenient main floor bedroom provides flexibility for guests, an office, or easy one-level living, while the spacious dormer bedroom upstairs offers a private retreat with plenty of room to spread out. Downs

Key facts

• Front enclosed porch
• Separate dining room
• Full basement

Tags

• FRONT ENCLOSED PORCH
• COZY FIREPLACE
• SEPARATE DINING ROOM
• MAIN FLOOR BEDROOM
• SPACIOUS DORMER BEDROOM
• FULL BASEMENT

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Has a 2-space carport; Detached oversized garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Zoned R-2
• Construction: Aluminum siding; Shingle roof; Basement: block construction, unfinished with interior entry
• Exterior features: Fenced yard; Gravel road access

Interior

• Kitchen: Free-standing range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas
• Interior features: Wood-burning fireplace in the living room; Covered, enclosed patio/porch
• Laundry & utility: Washer and dryer included; Laundry on lower level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Cap rate 9.5% vs local median 4.2% in Waterloo — 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 (#74 in IA, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• 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.
• Zoned schools: Highland Elementary School (math 51% / reading 45%, grade D, #528 of 616 statewide, top 86%, 477 students, 85% FRL); George Washington Carver Academy (math 36% / reading 43%, grade F, #240 of 246 statewide, top 98%, 442 students, 91% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL) — zoned schools average 83% FRL vs 58% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 98 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $595 of loan paydown is wiped out by about $3k 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 + 6.7% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $73k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,000

Questions for the listing agent

1. Built in 1931 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.21% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.36%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $139,779
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Arizona St	0.35mi	3/1.0 (+1)	1,500 (-0%)	3mo	$133,665	$89	76
2024 Mulberry St	0.04mi	3/2.0 (+1)	1,371 (-9%)	5mo	$139,000	$101	70
1020 Nevada St	0.26mi	3/1.0 (+1)	1,526 (+2%)	13mo	$119,000	$78	70
818 Steely St	0.38mi	3/1.0 (+1)	1,456 (-3%)	5mo	$195,000	$134	68
400 Elm St	0.45mi	2/1.0	1,421 (-6%)	3mo	$51,250	$36	68
1235 Independence Ave	0.49mi	3/3.0 (+1)	1,480 (-2%)	1mo	$138,000	$93	61
1421 Mulberry St St	0.49mi	3/2.0 (+1)	1,452 (-3%)	2mo	$103,000	$71	60
815 Nevada St	0.09mi	3/2.0 (+1)	1,705 (+13%)	7mo	$104,000	$61	58
609 Indiana St	0.29mi	3/1.0 (+1)	1,378 (-8%)	14mo	$135,900	$99	56
123 Lewis St	0.62mi	3/1.0 (+1)	1,428 (-5%)	12mo	$126,000	$88	48
1222 Vine St	0.57mi	3/1.0 (+1)	1,350 (-10%)	10mo	$144,900	$107	44
334 Irving St	0.71mi	3/1.5 (+1)	1,320 (-12%)	10mo	$180,000	$136	31

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 · 6.67% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.19×
• Total profit: $4,570
• Equity at exit: $12,823

10-year hold

• IRR: 17.3%
• Equity multiple: 2.67×
• Total profit: $40,306
• Equity at exit: $7,436

Cash invested: $24,080 (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 50703

• Rents YoY: 6.7%
• Active inventory: 98
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,037 high
• Mortgage (P&I): −$451
• Tax from tax record: −$104 /mo · $1,252/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $228

Break-even live

Break-even rent $748

Max offer price $86,000

Occupancy floor 73%

Sensitivity live

Price	-10% $277	-5% $252	+0% $228	+5% $204	+10% $179
Rent	-10% $146	-5% $187	+0% $228	+5% $269	+10% $310
Rate	-1.0pp $271	-0.5pp $250	base $228	+0.5pp $206	+1.0pp $183

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 Mulberry St Waterloo, IA	3.0	1.0	1248	$950	$0.76	21d	1	0.72mi
910 Mulberry St Apt 3 Waterloo, IA	2.0	1.0	1064	$695	$0.65	21d	1	0.86mi
920-928 Sycamore St Unit 920-07 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	44d	1	0.90mi
924 Sycamore St #1 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	44d	1	0.92mi
824 Sycamore St Unit 824-09 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	44d	1	0.97mi
919 Oneida St Waterloo, IA	3.0	1.0	1144	$930	$0.81	44d	1	1.02mi
311 E 3rd St Waterloo, IA	2.0	2.0	1154	$1,500	$1.30	21d	1	1.25mi
2014 Springview St Waterloo, IA	2.0	1.0	1064	$975	$0.92	21d	1	1.26mi
223 W 4th St Ste 203 Waterloo, IA	2.0	1.5	1466	$1,250	$0.85	44d	1	1.29mi

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-21
   listed $86,000 Active
3. 2022-08-24
   soldstatus $73,000

ⓘ 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: $1,252 · $104/mo
• Projected year-2 tax: $1,301 · $108/mo
• Expected delta: +$49/yr (+$4/mo · 3.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 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: $12,443
• − Mortgage interest: −$4,817
• − Property taxes: −$1,252
• − Insurance: −$430
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$2,502
• Taxable income: $1,451
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $2,388/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 — Waterloo

• Score: 81/100
• State rank: #74
• US rank: #1589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, IA
• County: Black Hawk County · 112,933 people
• City population: 69,066
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 17,952
• Household income: $50,060
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 871.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -117.18%
• Current HPI: 132.9478
• Rent YoY: ▲ 6.67%
• 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

+17.8% since first listed

3 events — show timeline

• 2026-04-30 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-21 Listed $86,000 NEIRBR as distributed by MLS GRID
• 2022-08-24 Sold (Public Records) $73,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,252 · +8.9% YoY. Source: county tax records.