209 Kingsley Avenue Ave · Waterloo, IA 50701

$104,900

3 bd · 1.0 ba · 1,444 sqft · SingleFamily public records · 97 Days on market

Built 1916 4,800 sqft lot Est $114k · 8% under ↓ 9% 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 +19.9/30.0
• ARV discount +11.1/15.0
• DSCR +6.3/10.0
• 1% rule +5.5/10.0
• 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

The important updates have been done to this home and what remains is the fun of turning this house into a home. Situated on a tree-lined street, this 2-story home features an original staircase and beautiful woodwork throughout. Enjoy the expansive living room, formal dining area with original plate rail and an updated kitchen. In the kitchen you're sure to appreciate the abundance of counter space, cabinetry and even a meal prep nook across from the stove. Heading upstairs, 3 bedrooms are comfortable in size with two rooms offering newly drywalled ceilings. The bathroom was updated several years ago too. Updates include: Shingles Fall 2025, Furnace/AC 2018/updated electrical panel/2-stall

Key facts

• Tree lined street
• Formal dining area
• Updated kitchen

Tags

• TREE LINED STREET
• ORIGINAL STAIRCASE
• EXPANSIVE LIVING ROOM
• FORMAL DINING AREA
• ORIGINAL PLATE RAIL
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Steel siding; Asphalt roof; Has basement
• Exterior features: Concrete road access; R-1 zoning

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Kingsley Elementary School (math 67% / reading 67%, grade B+, #273 of 616 statewide, top 51%, 343 students, 53% FRL); West High School (math 55% / reading 63%, grade C+, #273 of 336 statewide, top 81%, 1,652 students, 62% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising (+3.8%/yr); 282 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 $725 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.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,459 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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?
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: 1.05% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.18%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $114,076
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Kingsley Avenue Ave	0.00mi	3/1.0	1,294 (-10%)	0mo	$90,000	$70	82
524 Vermont St	0.24mi	4/1.5 (+1)	1,477 (+2%)	0mo	$72,000	$49	78
150 Hawthorne Ave	0.28mi	3/1.0	1,363 (-6%)	3mo	$187,000	$137	75
207 Denver St	0.40mi	2/1.5 (-1)	1,420 (-2%)	1mo	$92,500	$65	71
215 Frederic Ave	0.38mi	3/1.5	1,506 (+4%)	3mo	$210,500	$140	71
403 Belmont Ave	0.65mi	3/1.5	1,462 (+1%)	3mo	$104,000	$71	63
1116 W Mullan Ave	0.59mi	3/1.0	1,518 (+5%)	2mo	$35,000	$23	62
610 Baltimore St	0.39mi	3/1.0	1,248 (-14%)	2mo	$98,400	$79	58
800 Kingsley Ave	0.49mi	4/2.0 (+1)	1,336 (-8%)	4mo	$172,000	$129	53
520 Kingsley Ave	0.27mi	4/2.0 (+1)	1,655 (+15%)	3mo	$162,000	$98	52
928 W 2nd St	0.56mi	4/2.0 (+1)	1,568 (+9%)	4mo	$20,000	$13	48
252 Derbyshire Rd	0.68mi	3/2.0	1,569 (+9%)	3mo	$234,875	$150	47

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-7,998
• Equity at exit: $15,641

10-year hold

• IRR: 3.3%
• Equity multiple: 1.25×
• Total profit: $7,293
• Equity at exit: $9,070

Cash invested: $29,372 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$550
• Tax from tax record: −$153 /mo · $1,834/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $127

Break-even live

Break-even rent $945

Max offer price $104,900

Occupancy floor 84%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 Kimball Ave Waterloo, IA	3.0	1.0	1302	$1,100	$0.84	43d	1	0.03mi
719 Marsh St Waterloo, IA	3.0	1.0	1224	$1,100	$0.90	21d	1	0.05mi
1427 W 2nd St Waterloo, IA	3.0	1.0	1248	$1,250	$1.00	43d	1	0.22mi
1840 W 3rd St Waterloo, IA	2.0	1.0	1770	$700	$0.40	44d	1	0.22mi
1524 1/2 W 5th St Unit 1524 1/2 Waterloo, IA	2.0	1.0	981	$850	$0.87	21d	1	0.23mi
313 Denver St Unit Downstairs Waterloo, IA	2.0	1.5	950	$695	$0.73	21d	1	0.32mi
905 Baltimore St Waterloo, IA	3.0	1.5	1392	$1,025	$0.74	43d	1	0.45mi
702 Western Ave Waterloo, IA	2.0	1.5	1500	$1,100	$0.73	21d	1	0.46mi
820 W 2nd St Apt 2 Waterloo, IA	2.0	1.5	1100	$695	$0.63	43d	1	0.64mi
418 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$675	$0.56	43d	1	0.64mi
416 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$825	$0.69	43d	1	0.64mi
2539 W 3rd St Waterloo, IA	3.0	2.5	1200	$1,695	$1.41	21d	1	0.81mi
1112 Byron Ave Unit 1114 Waterloo, IA	2.0	1.0	896	$930	$1.04	21d	1	0.88mi
W Mullan Ave Waterloo, IA	2.0	1.0	918	$710	$0.77	43d	2	0.93mi
105 Bellaire Rd Waterloo, IA	2.0	2.0	1088	$1,100	$1.01	21d	1	0.93mi
136 Janney Ave Waterloo, IA	2.0	2.0	901	$1,325	$1.47	43d	1	0.97mi
154 Acadia St Unit 2 Waterloo, IA	2.0	1.0	995	$1,200	$1.21	43d	1	0.99mi
45 W Jefferson St Waterloo, IA	1.0–2.0	1.0–2.0	1062	$1,750	$1.65	21d	9	1.08mi
223 W 4th St Ste 203 Waterloo, IA	2.0	1.5	1466	$1,250	$0.85	43d	1	1.12mi
2215 Falls Ave Waterloo, IA	3.0	1.0	1290	$1,400	$1.09	43d	1	1.35mi
733 Russell Rd Waterloo, IA	2.0	1.5	940	$850	$0.90	43d	1	1.41mi
824 Sycamore St Unit 824-09 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	1.45mi
1702 Hammond Ave Waterloo, IA	3.0	2.0	1337	$1,500	$1.12	43d	1	1.46mi
924 Sycamore St #1 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	1.46mi
920-928 Sycamore St Unit 920-07 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	1.50mi

Listing history 4 events

1. 2026-04-21
   status Pending
2. 2026-04-16
   price $104,900
3. 2026-03-01
   price $109,900
4. 2026-01-13
   listed $114,900 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: $1,834 · $153/mo
• Projected year-2 tax: $1,834 · $153/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 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: $13,267
• − Mortgage interest: −$5,876
• − Property taxes: −$1,834
• − Insurance: −$524
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$3,052
• Taxable loss: −$142
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $1,555/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

-8.7% since first listed

4 events — show timeline

• 2026-04-21 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-16 Price Changed $104,900 NEIRBR as distributed by MLS GRID
• 2026-03-01 Price Changed $109,900 NEIRBR as distributed by MLS GRID
• 2026-01-13 Listed $114,900 NEIRBR as distributed by MLS GRID

Property tax history

+0.7%/yr

Latest (2025): $1,834 · -14.9% YoY. Source: county tax records.