1221 4th St · Gilbertville, IA 50634

$49,900

4 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 25 Days on market

Built 1910 $34/sqft · 72% below area ↓ 17% since listing

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom 2 bath Gilbertville home is need of some work. But has a ton of potential with it's large front porch, 2 car detached garage, and ample room through out this home. Hurry this project won't last for long.

Key facts

• Ample room
• Large front porch
• Detached garage

Tags

• LARGE FRONT PORCH
• DETACHED GARAGE
• AMPLE ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#218 in IA, #4,054 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• 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: Orange Elementary School (math 69% / reading 67%, grade B+, #267 of 616 statewide, top 44%, 521 students, 53% FRL); Bunger Middle School (math 48% / reading 47%, grade C-, #226 of 246 statewide, top 92%, 431 students, 75% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL).
• Market conditions: 4 active listings in the ZIP; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).

Forward outlook

• In year one you build about $920 of equity ($345 loan paydown + $575 appreciation (1.1% local appreciation)).
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 2.62% ✓
• Cap rate: 20.14%
• Cash-on-cash: 49.45%
• DSCR: 3.20
• GRM: 3.2

CMA / ARV

• ARV (median comp): $175,859
• List price: $49,900
• Delta: -71.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1517 5th St	0.15mi	4/1.5	1,427 (-2%)	21mo	$140,000	$98	70
821 9th Ave	0.31mi	4/1.5	1,581 (+9%)	3mo	$225,300	$143	67
1908 5th St	0.33mi	3/1.0 (-1)	1,288 (-12%)	8mo	$209,000	$162	50
706 14th Ave	0.20mi	3/2.0 (-1)	1,668 (+15%)	23mo	$130,000	$78	42

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

Projected returns pro-forma

1.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.4%
• Equity multiple: 3.72×
• Total profit: $38,063
• Equity at exit: $17,432

10-year hold

• IRR: 53.8%
• Equity multiple: 7.48×
• Total profit: $90,558
• Equity at exit: $23,475

Cash invested: $13,972 (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 50634

• Home prices YoY: 0.7%
• Active inventory: 4
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$176 /mo · $2,118/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $576

Break-even live

Break-even rent $581

Max offer price $49,900

Occupancy floor 51%

Sensitivity live

Price	-10% $604	-5% $590	+0% $576	+5% $562	+10% $547
Rent	-10% $472	-5% $524	+0% $576	+5% $627	+10% $679
Rate	-1.0pp $601	-0.5pp $588	base $576	+0.5pp $563	+1.0pp $550

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-11
   status Pending 218-char remark

   Show marketing remark (218 chars)

   This 3 bedroom 2 bath Gilbertville home is need of some work. But has a ton of potential with it's large front porch, 2 car detached garage, and ample room through out this home. Hurry this project won't last for long.

2. 2026-04-16
   listed $49,900 Active 218-char remark

   Show marketing remark (218 chars)

   This 3 bedroom 2 bath Gilbertville home is need of some work. But has a ton of potential with it's large front porch, 2 car detached garage, and ample room through out this home. Hurry this project won't last for long.

3. 2016-01-14
   soldstatus $55,000
4. 2015-12-09
   soldstatus $55,000 224-char remark

   Show marketing remark (224 chars)

   Affordable 4 BR home with lots of character. Colonnades between DR/LR. wood floors. Newer furnace. DBL garage, small fenced yard. Don Bosco system schools is an option. Priced so that you can decorate and update as you wish.

5. 2015-07-15
   listed $59,900 224-char remark

   Show marketing remark (224 chars)

   Affordable 4 BR home with lots of character. Colonnades between DR/LR. wood floors. Newer furnace. DBL garage, small fenced yard. Don Bosco system schools is an option. Priced so that you can decorate and update as you wish.

ⓘ 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: $2,118 · $176/mo
• Projected year-2 tax: $2,118 · $176/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 2/10 Low 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: $15,717
• − Mortgage interest: −$2,795
• − Property taxes: −$2,118
• − Insurance: −$250
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$1,452
• Taxable income: $6,588
• Est. tax owed @ 24.0%: −$1,581
• After-tax cash flow: $5,328/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 — Gilbertville

• Score: 75/100
• State rank: #218
• US rank: #4054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbertville, IA
• City population: 736
• Population (ZIP): 736

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 (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 6% Scottish 2% Italian 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: ▲ 1.15%
• Current HPI: 178.3152
• 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

-16.7% since first listed

5 events — show timeline

• 2026-05-11 Pending — DMMLS
• 2026-04-16 Listed $49,900 DMMLS
• 2016-01-14 Sold (Public Records) $55,000 Public Records
• 2015-12-09 Sold (MLS) $55,000 NEIRBR as distributed by MLS GRID
• 2015-07-15 Listed $59,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.4%/yr

Latest (2025): $2,118 · -29.9% YoY. Source: county tax records.