2126 Kennedy Dr · Sioux City, IA 51104

$112,500

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 229 Days on market

Built 1925 6,970 sqft lot Est $175k · 36% under ↓ 17% since listing

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Why this score? — see what drove the C 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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.5/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2126 Kennedy Drive is a cute 1000 SF bungalow that is looking for a little love, but offers good bones, charm, great room sizes, original hardwoods, 3-season porch, and a convenient location off Hamilton Boulevard. On the main floor are 2 nice-sized bedrooms and good storage. The bathroom features well-maintained original tile floors and newer stool/sink/tub surround. Kitchen features white cabinets and newer counter with stainless appliances & washer/dryer that all stay with the home. The single garage stall (shared garage wall with neighbor) is good for lawn equipment or parking and the alleyway has dedicated parking in the back of the home. The home is heated using baseboard heat,

Key facts

• Original hardwoods
• Stainless appliances
• Newer counter

Tags

• 3 SEASON PORCH
• ORIGINAL HARDWOODS
• NEWER COUNTER
• STAINLESS APPLIANCES
• DEDICATED PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.7% in Sioux City — 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunt Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 392 students, 86% FRL); West Middle School (math 54% / reading 54%, grade B-, #206 of 246 statewide, top 84%, 864 students, 48% FRL); West High School (math 44% / reading 58%, grade D+, #308 of 336 statewide, top 92%, 1,252 students, 76% FRL) — zoned schools average 70% FRL vs 54% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 121 active listings in the ZIP; 9 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; solid renter incomes; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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?
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: 1.05% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.20
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $175,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2126 Kennedy Dr	0.00mi	2/1.0	1,008 (0%)	0mo	$82,500	$82	100
2004 Geneva St	0.24mi	3/1.0 (+1)	1,034 (+3%)	5mo	$60,500	$59	75
2213 Geneva St	0.27mi	2/1.0	1,070 (+6%)	9mo	$128,000	$120	70
30 Stewart Ave	0.21mi	2/2.0	932 (-8%)	6mo	$192,500	$207	69
3021 Mcdonald St	0.73mi	2/1.0	998 (-1%)	0mo	$179,950	$180	64
1316 Main St	0.57mi	3/1.0 (+1)	974 (-3%)	3mo	$113,000	$116	60
2108 Ross St	0.73mi	3/1.0 (+1)	1,002 (-1%)	5mo	$199,500	$199	56
1315 W 28th St	0.73mi	2/1.0	950 (-6%)	6mo	$164,950	$174	51
2218 Myrtle St	0.46mi	2/1.0	876 (-13%)	7mo	$102,000	$116	51
2804 Center St	0.58mi	3/1.0 (+1)	936 (-7%)	8mo	$176,650	$189	50
2505 Silver St	0.40mi	2/1.0	1,152 (+14%)	11mo	$200,000	$174	48
96 Ridgeview Rd	0.73mi	3/1.0 (+1)	1,103 (+9%)	2mo	$170,000	$154	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-10,854
• Equity at exit: $16,774

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $172
• Equity at exit: $9,727

Cash invested: $31,500 (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 51104

• Home prices YoY: -34.4%
• Active inventory: 121
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$590
• Tax from tax record: −$186 /mo · $2,228/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $115

Break-even live

Break-even rent $1,041

Max offer price $112,500

Occupancy floor 85%

Sensitivity live

Price	-10% $179	-5% $147	+0% $115	+5% $83	+10% $51
Rent	-10% $21	-5% $68	+0% $115	+5% $162	+10% $209
Rate	-1.0pp $172	-0.5pp $144	base $115	+0.5pp $86	+1.0pp $56

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 13th St Sioux City, IA	2.0–3.0	1.0–1.5	1329	$1,097	$0.83	44d	3	0.82mi
821 Jackson St Apt 105 Sioux City, IA	2.0	1.0	1014	$1,010	$1.00	44d	1	1.08mi
1116 13th St Sioux City, IA	3.0	1.0	1056	$1,100	$1.04	45d	1	1.09mi
1114 13th St Unit 1116 Sioux City, IA	3.0	1.0	1056	$1,100	$1.04	44d	1	1.09mi
705 Douglas St Sioux City, IA	2.0	2.0	1252	$1,775	$1.42	44d	5	1.10mi
505 6th St Sioux City, IA	1.0–2.0	1.0	830	$2,100	$2.53	44d	5	1.22mi
228 36th St Sioux City, IA	3.0	2.0	1092	$1,500	$1.37	44d	1	1.32mi
2309 W 19th St Sioux City, IA	2.0	1.0	1200	$1,000	$0.83	44d	1	1.32mi
2722 Prospect St Sioux City, IA	3.0	1.0	848	$1,200	$1.42	44d	1	1.49mi

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-06
   status Active
3. 2026-03-30
   status Pending
4. 2026-03-10
   price $112,500
5. 2026-01-02
   price $124,999
6. 2025-09-18
   price $129,999
7. 2025-09-03
   listed $135,000 Active

ⓘ 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: $2,228 · $186/mo
• Projected year-2 tax: $2,228 · $186/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 14 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: $14,242
• − Mortgage interest: −$6,302
• − Property taxes: −$2,228
• − Insurance: −$562
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$3,273
• Taxable loss: −$402
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $1,477/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• County: Woodbury County · 51,789 people
• City population: 51,789
• Metro: Sioux City, IA-NE-SD
• Population (ZIP): 23,197
• Household income: $75,362
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 600.0

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 20% Two or more races 14% Black 5% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Portuguese 4% Iranian 2% Romanian 2%
• Foreign-born: 12% · Canada, Vietnam, United Kingdom
• Languages at home: 80% English-only · Spanish 13% Other Asian/Pacific 2% Vietnamese 2%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.54%
• Current HPI: 218.5989
• Rent YoY: —
• Metro: Sioux City, IA-NE-SD
• 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

-16.7% since first listed

7 events — show timeline

• 2026-04-27 Pending — NWIA
• 2026-04-06 Relisted — NWIA
• 2026-03-30 Pending — NWIA
• 2026-03-10 Price Changed $112,500 NWIA
• 2026-01-02 Price Changed $124,999 NWIA
• 2025-09-18 Price Changed $129,999 NWIA
• 2025-09-03 Listed $135,000 NWIA

Property tax history

+5.5%/yr

Latest (2025): $2,228 · +4.0% YoY. Source: county tax records.