303 SW 5 St · Waukon, IA 52172

$130,000

3 bd · 2.5 ba · 1,203 sqft · SingleFamily public records · 187 Days on market

Built 1931 6,426 sqft lot Est $149k · 13% under

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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 +17.7/30.0
• ARV discount +13.3/15.0
• Schools +6.2/10.0
• DSCR +5.5/10.0
• Appreciation +4.8/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This well-maintained gambrel-style home is ideally situated on a spacious corner lot along 3rd Avenue. Featuring numerous recent updates, it's truly move-in ready—perfect as a primary residence or a turn-key rental investment. The main floor features a generous layout, including a versatile room ideal as an office or additional bedroom. Upstairs, you’ll find comfortably sized bedrooms and a full bathroom. Additional features include an attached one-car garage and great curb appeal. Please note: financial letter of commitment prior to showings. Call today!

Key facts

• Move-in ready
• Recent updates
• Versatile room

Tags

• GAMBREL-STYLE HOME
• SPACIOUS CORNER LOT
• RECENT UPDATES
• MOVE-IN READY
• VERSATILE ROOM
• ATTACHED ONE-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/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 $120k (7.7% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.8% in Waukon — 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 79/100 on livability (#125 in IA, #2,301 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Allamakee Community School District (town): math 71% / reading 75% proficiency, ranked #103 of 289 in IA (top 36%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Waukon Middle School (math 66% / reading 71%, grade A, #126 of 246 statewide, top 53%, 270 students, 39% FRL); Waukon High School (math 72% / reading 79%, grade A-, #79 of 336 statewide, top 25%, 380 students, 44% FRL).
• Market conditions: 40 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 61 units permitted in Allamakee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $261 of equity ($899 loan paydown + $-638 appreciation (-0.5% local appreciation)).
• Allamakee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 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 1931 — 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. 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?
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: 0.92% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $149,172
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 SW 5 St	0.00mi	3/1.5	1,203 (0%)	0mo	$126,000	$105	96
107 SW 5 St	0.08mi	3/1.0	1,321 (+10%)	9mo	$155,000	$117	66
22 SE 3rd Ave	0.43mi	2/1.5 (-1)	1,256 (+4%)	0mo	$120,000	$96	64
208 NW 2nd St	0.40mi	3/1.0	1,249 (+4%)	13mo	$142,000	$114	58
15 NE 5 Ave	0.35mi	3/1.5	1,258 (+5%)	17mo	$175,000	$139	58
210 NW 8 Ave	0.68mi	3/2.0	1,225 (+2%)	8mo	$189,000	$154	56
107 SW 5 Ave	0.23mi	3/2.0	1,346 (+12%)	14mo	$238,000	$177	55
306 NW 3rd Ave	0.37mi	3/1.0	1,339 (+11%)	10mo	$117,000	$87	50
102 SW 5th Avenue Ave	0.27mi	2/2.0 (-1)	1,048 (-13%)	18mo	$72,000	$69	44
430 NW 9 St	0.58mi	3/2.0	1,036 (-14%)	5mo	$195,000	$188	44
22 3 Avenue Ave SW	0.27mi	2/2.0 (-1)	1,382 (+15%)	18mo	$205,000	$148	40
406 2nd Street N.w. St	0.50mi	2/1.0 (-1)	1,073 (-11%)	14mo	$133,000	$124	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-169
• Equity at exit: $34,588

10-year hold

• IRR: 5.9%
• Equity multiple: 1.61×
• Total profit: $22,088
• Equity at exit: $39,132

Cash invested: $36,400 (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 52172

• Home prices YoY: -0.2%
• Active inventory: 40
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $104

Break-even live

Break-even rent $1,068

Max offer price $130,000

Occupancy floor 86%

Sensitivity live

Price	-10% $178	-5% $141	+0% $104	+5% $67	+10% $30
Rent	-10% $9	-5% $57	+0% $104	+5% $151	+10% $199
Rate	-1.0pp $169	-0.5pp $137	base $104	+0.5pp $70	+1.0pp $36

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 8th Ave SW Unit 11 Waukon, IA	2.0	1.0	925	$1,200	$1.30	15d	1	0.57mi

Listing history 2 events

1. 2026-04-25
   status Pending
2. 2025-10-20
   listed $130,000 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: $1,298 · $108/mo
• Projected year-2 tax: $1,670 · $139/mo
• Expected delta: +$372/yr (+$31/mo · 28.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $14,400
• − Mortgage interest: −$7,282
• − Property taxes: −$1,298
• − Insurance: −$650
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,782
• Taxable loss: −$916
• Est. tax savings @ 24.0%: +$220
• After-tax cash flow: $1,467/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: Allamakee Community School District
• NCES district ID: 1903390
• Math proficiency: 71% ▼ -4.00%
• Reading proficiency: 75% ▲ 2.00%
• Median HH income: $48,705
• Composite: 61.72/100
• National rank: #738
• State rank: #103 of 289 in IA

Livability — Waukon

• Score: 79/100
• State rank: #125
• US rank: #2301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukon, IA
• City population: 5,986
• Population (ZIP): 5,986

Population outlook (Allamakee County) Hauer SSP2

• Today (2025): 12,814 people
• By 2030: 12,146 · -5.2%
• By 2040: 10,750 · -16.1%
• By 2050: 9,506 · -25.8%
• By 2075: 7,779 · -39.3%
• By 2100: 6,870 · -46.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Portuguese 16% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 3% German/W. Germanic 3% Other Indo-European 2%

Political lean MEDSL · Allamakee

• 2024 margin: Solid R (+34.3) · D 32.2% · R 66.5% · Other 1.3%
• 2008→2024 swing: -48.6pp toward R · 2008: 14.2pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+29.1 2016: R+24.3 2012: D+4.1 2008: D+14.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.49%
• Current HPI: 236.5413
• Rent YoY: —
• Metro: —
• 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 events — show timeline

• 2026-04-25 Pending — NEIRBR as distributed by MLS GRID
• 2025-10-20 Listed $130,000 NEIRBR as distributed by MLS GRID

Property tax history

+5.6%/yr

Latest (2025): $1,298 · +5.7% YoY. Source: county tax records.