4494 Taft Ave Lot 38c Ave · Iowa City, IA 52240

$26,000

2 bd · 1.0 ba · 1,800 sqft · Other public records · 4 Days on market

Built 2025 $14/sqft · 95% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.3/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Newer home in Breckenridge manufactured park. It is a 2 bedroom 1 bath home. This 2025 home is small but is very cozy. All appliances stay with the home. This home is on leased land and will require park approval for purchase. Lot rent in this park is 669 a month and 105 for water. Please contact the park for any more information regarding the park. Listing agent is not affiliated with the park in anyway.

Key facts

• All appliances stay
• Newer home
• 2 parking spots

Tags

• NEWER HOME
• ALL APPLIANCES STAY

Property features AI

Finance

• HOA & community: Annual association fee; Community offers a park and playground

Exterior

• Parking: Parking pad with space for 2 vehicles
• Security: Smoke detector(s)
• Utilities: Shared well water; Sewer available
• Home design: Manufactured home; Single-story (manufactured); Built by Champion; Vinyl siding
• Construction: Vinyl siding construction; Manufactured house
• Exterior features: Other exterior features; Park and playground in the community

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; Ceiling fan(s); Wall/window air conditioning
• Interior features: Other interior features; Smoke detectors
• Laundry & utility: Main-level laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $26k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• Cap rate 45.6% vs local median 2.7% in Iowa 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.3%/yr); 260 active listings in the ZIP; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $180 of loan paydown is wiped out by about $780 of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $26,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 5.02% ✓
• Cap rate: 45.62%
• Cash-on-cash: 140.47%
• DSCR: 7.25
• GRM: 1.7

CMA / ARV

• ARV (median comp): $510,172
• List price: $26,000
• Delta: -89.04%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.50×
• Total profit: $54,589
• Equity at exit: $3,877

10-year hold

• IRR: —
• Equity multiple: 19.86×
• Total profit: $137,310
• Equity at exit: $2,248

Cash invested: $7,280 (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 52240

• Rents YoY: 6.3%
• Active inventory: 260
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$136
• Tax est. 1.5%: −$32 /mo · $390/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $852

Break-even live

Break-even rent $227

Max offer price $26,000

Occupancy floor 30%

Sensitivity live

Price	-10% $870	-5% $861	+0% $852	+5% $843	+10% $834
Rent	-10% $749	-5% $801	+0% $852	+5% $904	+10% $955
Rate	-1.0pp $865	-0.5pp $859	base $852	+0.5pp $845	+1.0pp $839

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: $6,500
• Closing costs: $780
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $26,000 Active 4 DOM
2. 2026-06-18
   days on market $26,000 Active 3 DOM
3. 2026-06-17
   days on market $26,000 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $26,000 Active 1 DOM
5. 2026-06-13
   days on market $26,000 Active 17 DOM
6. 2026-06-10
   days on market $26,000 Active 15 DOM
7. 2026-06-09
   days on market $26,000 Active 14 DOM
8. 2026-06-08
   days on market $26,000 Active 13 DOM
9. 2026-06-07
   days on market $26,000 Active 12 DOM
10. 2026-06-05
    days on market $26,000 Active 9 DOM
11. 2026-06-03
    days on market $26,000 Active 8 DOM
12. 2026-06-02
    days on market $26,000 Active 7 DOM
13. 2026-06-01
    days on market $26,000 Active 6 DOM
14. 2026-05-31
    days on market $26,000 Active 5 DOM
15. 2026-05-30
    days on market $26,000 Active 4 DOM
16. 2026-02-10
    listed $55,900 Active 526-char remark
17. 2025-12-05
    soldstatus Sold 671-char remark
18. 2025-11-21
    listed $19,900 Active 671-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,674
• − Mortgage interest: −$1,456
• − Property taxes: −$390
• − Insurance: −$130
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$756
• Taxable income: $10,433
• Est. tax owed @ 24.0%: −$2,504
• After-tax cash flow: $7,722/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 35,074
• Household income: $52,960
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 2852.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Black 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 3% Romanian 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 8% French/Haitian/Cajun 2% Arabic 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.53%
• Current HPI: 170.7491
• Rent YoY: ▲ 6.32%
• Metro: Iowa City, 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

+0.0% since first listed

2 events — show timeline

• 2026-06-14 Listed $26,000 ICAARMLS
• 2026-05-26 Listed $26,000 ICAARMLS

Property tax history

-3.8%/yr

Latest (2025): $25,794 · +1.1% YoY. Source: county tax records.