819 Hanna Blvd · Waterloo, IA 50701

$136,900

4 bd · 1.0 ba · 1,114 sqft · SingleFamily public records · 18 Days on market

Built 1947 7,770 sqft lot $123/sqft · 11% below area Est $161k · 15% under ↓ 2% 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 +16.3/30.0
• ARV discount +14.3/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 819 Hanna Blvd in Waterloo! This charming 1,164 sq ft ranch offers 3 bedrooms on the main level with an additional bedroom in the lower level, providing great flexibility for guests, an office, or extra living space. The home features a comfortable layout, a bright living area, and plenty of room to make it your own. With an attached 1-stall garage and a convenient location, this property is a great affordable option for many buyers!

Key facts

• 7,770 sq ft lot
• Garage
• Built 1947

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $75 ($894/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (1.9% below list).
• Recommended offer: $134k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: schools C-, 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.
• Market conditions: Rents rising (+3.8%/yr); 282 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $946 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,238 (1.9% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.98% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (median comp): $161,186
• List price: $136,900
• Delta: -15.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
640 Maxwell St	0.18mi	4/1.0	1,168 (+5%)	7mo	$152,000	$130	78
1742 Sager Ave	0.37mi	3/1.0 (-1)	1,114 (0%)	4mo	$195,000	$175	74
520 Hanna Blvd	0.29mi	3/1.0 (-1)	1,088 (-2%)	5mo	$180,000	$165	74
1266 Doreen Ave	0.41mi	4/2.0	1,140 (+2%)	1mo	$191,000	$168	72
401 Ardmore St	0.44mi	3/1.0 (-1)	1,050 (-6%)	12mo	$109,900	$105	55
725 Harwood Ave	0.43mi	3/2.0 (-1)	1,183 (+6%)	7mo	$187,000	$158	55
1316 Garden Ave	0.56mi	3/1.0 (-1)	1,040 (-7%)	10mo	$80,000	$77	50
514 Woodbridge St	0.32mi	3/1.0 (-1)	1,268 (+14%)	9mo	$186,000	$147	50
724 Kirkwood Ave	0.47mi	3/1.0 (-1)	972 (-13%)	6mo	$170,250	$175	47
2123 Downing Ave	0.72mi	3/1.0 (-1)	1,162 (+4%)	11mo	$181,900	$157	45
432 Auburn St	0.36mi	3/2.0 (-1)	1,271 (+14%)	8mo	$160,000	$126	44
634 Englewood Ave	0.73mi	3/1.5 (-1)	1,016 (-9%)	12mo	$60,000	$59	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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.57×
• Total profit: $-16,304
• Equity at exit: $20,412

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-3,361
• Equity at exit: $11,837

Cash invested: $38,332 (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 50701

• Rents YoY: 3.8%
• Active inventory: 282
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$718
• Tax from tax record: −$211 /mo · $2,532/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $75

Break-even live

Break-even rent $1,248

Max offer price $136,900

Occupancy floor 89%

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: $34,225
• Closing costs: $4,107
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 Doreen Ave Unit 1120-3 Waterloo, IA	3.0	1.0	865	$890	$1.03	44d	1	0.24mi
425 Auburn St Waterloo, IA	3.0	1.0	983	$1,450	$1.48	44d	1	0.36mi
1247 Doreen Ave Waterloo, IA	4.0	1.0	1288	$1,500	$1.16	21d	1	0.38mi
2215 Falls Ave Waterloo, IA	3.0	1.0	1290	$1,400	$1.09	44d	1	0.49mi
2539 W 3rd St Waterloo, IA	3.0	2.5	1200	$1,695	$1.41	21d	1	1.16mi

Listing history 18 events

1. 2026-06-19
   days on market $136,900 Active 18 DOM
2. 2026-06-18
   days on market $136,900 Active 17 DOM
3. 2026-06-17
   days on market $136,900 Active 16 DOM
4. 2026-06-16
   days on market $136,900 Active 15 DOM
5. 2026-06-15
   days on market $136,900 Active 14 DOM
6. 2026-06-14
   days on market $136,900 Active 12 DOM
7. 2026-06-13
   days on market $136,900 Active 11 DOM
8. 2026-06-10
   days on market $136,900 Active 9 DOM
9. 2026-06-09
   days on market $136,900 Active 8 DOM
10. 2026-06-08
    days on market $136,900 Active 7 DOM
11. 2026-06-07
    days on market $136,900 Active 6 DOM
12. 2026-06-05
    days on market $136,900 Active 3 DOM
13. 2026-06-03
    days on market $136,900 Active 2 DOM
14. 2026-06-02
    days on marketlisting id $136,900 Active 1 DOM
15. 2026-05-31
    days on market $136,900 Active 193 DOM
16. 2026-05-30
    days on market $136,900 Active 192 DOM
17. 2026-02-19
    price $136,900 448-char remark

    Show marketing remark (448 chars)

    Welcome to 819 Hanna Blvd in Waterloo! This charming 1,164 sq ft ranch offers 3 bedrooms on the main level with an additional bedroom in the lower level, providing great flexibility for guests, an office, or extra living space. The home features a comfortable layout, a bright living area, and plenty of room to make it your own. With an attached 1-stall garage and a convenient location, this property is a great affordable option for many buyers!

18. 2025-11-19
    listed $139,900 Active 448-char remark

    Show marketing remark (448 chars)

    Welcome to 819 Hanna Blvd in Waterloo! This charming 1,164 sq ft ranch offers 3 bedrooms on the main level with an additional bedroom in the lower level, providing great flexibility for guests, an office, or extra living space. The home features a comfortable layout, a bright living area, and plenty of room to make it your own. With an attached 1-stall garage and a convenient location, this property is a great affordable option for many buyers!

ⓘ 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: $2,532 · $211/mo
• Projected year-2 tax: $2,532 · $211/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 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: $16,109
• − Mortgage interest: −$7,669
• − Property taxes: −$2,532
• − Insurance: −$684
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$3,983
• Taxable loss: −$1,336
• Est. tax savings @ 24.0%: +$321
• After-tax cash flow: $1,215/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): 30,232
• Household income: $61,475
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1377.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 11% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Portuguese 3% Italian 3% American 2%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Spanish 2% French/Haitian/Cajun 2%

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: ▼ -107.19%
• Current HPI: 162.8951
• Rent YoY: ▲ 3.80%
• 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

-2.1% since first listed

2 events — show timeline

• 2026-02-19 Price Changed $136,900 NEIRBR as distributed by MLS GRID
• 2025-11-19 Listed $139,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.2%/yr

Latest (2025): $2,532 · +8.6% YoY. Source: county tax records.