725 Lincoln St · Waterloo, IA 50703

$85,000

4 bd · 1.5 ba · 1,330 sqft · SingleFamily public records · 16 Days on market

Built 1889 6,850 sqft lot $64/sqft · 30% above area Est $66k · 30% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This home offers 3bed 1.5 bath compleatly renovated. Great investment opportunity with major updates already completed. This property features a brand new roof, new water heater, new carpet and updated tile shower. Main floor Landry. This home also offers a specious double stall garage with additional parking space, making it ideal for tenants or homeowners needing extra space.

Key facts

• Brand new roof
• New carpet
• New water heater

Tags

• COMPLETELY RENOVATED
• BRAND NEW ROOF
• NEW WATER HEATER
• NEW CARPET
• UPDATED TILE SHOWER
• MAIN FLOOR LAUNDRY

Property features AI

Exterior

• Parking: Detached carport; 2 carport spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; 2-story
• Construction: Frame construction; Shingle siding; Vinyl siding; Shingle/asphalt roof; Built with block basement
• Exterior features: Corner lot; Concrete road frontage

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; No central cooling reported
• Interior features: Eat-in kitchen; Block basement (finished area below grade)
• Laundry & utility: Laundry on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% 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: Fred Becker Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 473 students, 76% FRL); Central Middle School (math 49% / reading 46%, grade C-, #226 of 246 statewide, top 92%, 471 students, 85% FRL); West High School (math 55% / reading 63%, grade C+, #273 of 336 statewide, top 81%, 1,652 students, 62% FRL) — zoned schools average 75% FRL vs 58% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 99 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $588 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1889 — 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: 1.37% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

• ARV (median comp): $65,525
• List price: $85,000
• Delta: 67.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 Lincoln St	0.11mi	3/1.0 (-1)	1,380 (+4%)	3mo	$29,000	$21	79
221 Center St	0.14mi	3/1.0 (-1)	1,291 (-3%)	6mo	$38,000	$29	76
215 Dane St	0.42mi	4/2.0	1,276 (-4%)	11mo	$86,900	$68	63
413 Conger Street St	0.10mi	3/1.0 (-1)	1,149 (-14%)	4mo	$65,000	$57	62
708 Newton St St	0.51mi	4/1.0	1,285 (-3%)	7mo	$71,500	$56	62
411 Argyle St St	0.57mi	4/2.0	1,360 (+2%)	8mo	$104,000	$76	61
126 Hope Avenue Ave	0.42mi	3/1.0 (-1)	1,185 (-11%)	6mo	$56,000	$47	50
71 Lafayette St	0.67mi	4/1.0	1,392 (+5%)	11mo	$70,000	$50	50
813 Kern St	0.61mi	4/1.0	1,183 (-11%)	4mo	$165,000	$139	48
236 Boston Ave	0.60mi	3/1.0 (-1)	1,403 (+6%)	11mo	$75,000	$53	47
806 Conger St St	0.58mi	3/1.0 (-1)	1,140 (-14%)	2mo	$85,000	$75	40
400 Charles St	0.68mi	3/1.0 (-1)	1,183 (-11%)	9mo	$90,000	$76	35

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: 13.9%
• Equity multiple: 1.58×
• Total profit: $13,773
• Equity at exit: $12,674

10-year hold

• IRR: 25.3%
• Equity multiple: 3.58×
• Total profit: $61,443
• Equity at exit: $7,349

Cash invested: $23,800 (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: 99
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,164 high
• Mortgage (P&I): −$446
• Tax from tax record: −$76 /mo · $908/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $363

Break-even live

Break-even rent $705

Max offer price $85,000

Occupancy floor 64%

Sensitivity live

Price	-10% $411	-5% $387	+0% $363	+5% $339	+10% $314
Rent	-10% $271	-5% $317	+0% $363	+5% $409	+10% $455
Rate	-1.0pp $405	-0.5pp $384	base $363	+0.5pp $341	+1.0pp $318

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Reed St Waterloo, IA	3.0	1.5	1492	$1,200	$0.80	22d	1	0.11mi
214 Edwards St Waterloo, IA	3.0	1.0	1150	$825	$0.72	22d	1	0.20mi
824 Logan Ave Waterloo, IA	4.0	2.0	1572	$1,425	$0.91	22d	1	0.24mi
1125 Ackermant St Waterloo, IA	3.0	2.0	1202	$1,100	$0.92	22d	1	0.33mi
440 Cutler St Waterloo, IA	3.0	1.5	1566	$1,200	$0.77	22d	1	0.38mi
137 Hope Ave Waterloo, IA	5.0	1.5	1650	$1,550	$0.94	45d	1	0.43mi
306 Charles St Waterloo, IA	3.0	1.0	916	$925	$1.01	45d	1	0.64mi
401 Charles St Waterloo, IA	3.0	1.0	1276	$995	$0.78	45d	1	0.71mi
405 W Donald St Waterloo, IA	2.0–3.0	1.0	880	$1,000	$1.14	22d	4	0.93mi
739 Sherman Ave Waterloo, IA	3.0	1.0	875	$925	$1.06	45d	1	1.01mi
919 Oneida St Waterloo, IA	3.0	1.0	1144	$930	$0.81	45d	1	1.23mi
1107 Mulberry St Waterloo, IA	3.0	1.0	1248	$950	$0.76	22d	1	1.35mi
216 Courtland St Apt 1 Waterloo, IA	4.0	1.0	1150	$825	$0.72	22d	1	1.37mi
416 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$825	$0.69	45d	1	1.46mi
418 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$675	$0.56	45d	1	1.46mi

Listing history 13 events

1. 2026-06-21
   days on market $85,000 Active 16 DOM
2. 2026-06-19
   days on market $85,000 Active 14 DOM
3. 2026-06-18
   days on market $85,000 Active 13 DOM
4. 2026-06-17
   days on market $85,000 Active 12 DOM
5. 2026-06-16
   days on market $85,000 Active 11 DOM
6. 2026-06-15
   days on market $85,000 Active 10 DOM
7. 2026-06-14
   days on market $85,000 Active 8 DOM
8. 2026-06-13
   days on market $85,000 Active 7 DOM
9. 2026-06-10
   days on market $85,000 Active 5 DOM
10. 2026-06-09
    days on market $85,000 Active 4 DOM
11. 2026-06-08
    days on market $85,000 Active 3 DOM
12. 2026-06-07
    pricestatusdays on marketlisting id $85,000 Active 2 DOM
13. 2025-10-02
    listed $109,500 Active 380-char remark

ⓘ 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: $908 · $76/mo
• Projected year-2 tax: $1,121 · $93/mo
• Expected delta: +$213/yr (+$18/mo · 23.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 21% 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: $13,966
• − Mortgage interest: −$4,761
• − Property taxes: −$908
• − Insurance: −$425
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$2,473
• Taxable income: $3,164
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,591/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

1 event — show timeline

• 2026-06-05 Listed $85,000 NEIRBR as distributed by MLS GRID

Property tax history

-0.3%/yr

Latest (2025): $908 · +8.6% YoY. Source: county tax records.