1701-03 W 3rd St · Sioux City, IA 51103

$143,000

6 bd · 2.5 ba · 2,048 sqft · MultiFamily public records · 38 Days on market

Built 1910 3,485 sqft lot $70/sqft · 10% below area Est $160k · 10% under ↓ 5% 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 +20.8/30.0
• ARV discount +12.2/15.0
• DSCR +6.6/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Good income property with long time tenants, that would like to stay.

Key facts

• 3,485 sq ft lot
• Built 1910
• Listed 37 days

Property features AI

Finance

• Other: Property consists of two identical 3-bedroom units, each approximately 1,024 total area and each reporting $700 total rent
• Financial info: Annual tax amount listed
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family / multi-unit
• Construction: No construction, foundation, or roof details provided
• Exterior features: 0.08-acre lot; Zoned NC4

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 3-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (total for the property)
• Heating & cooling: Natural gas heating with forced air; Window unit cooling
• Interior features: Window air conditioning units; Natural gas forced air heating
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath multifamily listed at $143k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Recommended offer: $139k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.7% in Sioux City — 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 79 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $989 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 7.8

CMA / ARV

• ARV (median comp): $159,690
• List price: $143,000
• Delta: -10.45%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405-07 Cook St	0.58mi	6/2.0	2,328 (+14%)	7mo	$155,000	$67	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-10,580
• Equity at exit: $21,322

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $7,102
• Equity at exit: $12,364

Cash invested: $40,040 (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 51103

• Home prices YoY: -23.0%
• Active inventory: 79
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,527 medium
• Mortgage (P&I): −$750
• Tax from tax record: −$200 /mo · $2,396/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $197

Break-even live

Break-even rent $1,277

Max offer price $143,000

Occupancy floor 82%

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $143,000 Active 38 DOM
2. 2026-06-18
   days on market $143,000 Active 37 DOM
3. 2026-06-17
   days on market $143,000 Active 36 DOM
4. 2026-06-17
   price $143,000 Active 35 DOM
5. 2026-06-16
   days on market $150,000 Active 35 DOM
6. 2026-06-15
   days on market $150,000 Active 34 DOM
7. 2026-06-14
   days on market $150,000 Active 32 DOM
8. 2026-06-12
   days on market $150,000 Active 31 DOM
9. 2026-06-09
   days on market $150,000 Active 28 DOM
10. 2026-06-08
    days on market $150,000 Active 27 DOM
11. 2026-06-07
    days on market $150,000 Active 26 DOM
12. 2026-06-05
    days on market $150,000 Active 23 DOM
13. 2026-06-02
    days on market $150,000 Active 21 DOM
14. 2026-06-01
    days on market $150,000 Active 20 DOM
15. 2026-05-31
    days on market $150,000 Active 19 DOM
16. 2026-05-30
    days on market $150,000 Active 18 DOM
17. 2026-05-11
    listed $150,000 Active 69-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: $2,396 · $200/mo
• Projected year-2 tax: $2,396 · $200/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $18,324
• − Mortgage interest: −$8,010
• − Property taxes: −$2,396
• − Insurance: −$715
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − Depreciation: −$4,160
• Taxable income: $111
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $2,339/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 17,145

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 31% Two or more races 18% Asian 4% Black 4% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Iranian 3% Portuguese 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 3% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.41%
• Current HPI: 262.3809
• 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

-4.7% since first listed

2 events — show timeline

• 2026-06-16 Price Changed $143,000 NWIA
• 2026-05-11 Listed $150,000 NWIA

Property tax history

+6.9%/yr

Latest (2025): $2,396 · +4.1% YoY. Source: county tax records.