408 West Side Dr · Iowa City, IA 52246

$179,900

3 bd · 2.0 ba · 1,292 sqft · Condo public records · 215 Days on market

Built 1993 $139/sqft · 8% below area Est $196k · 8% under $250/mo HOA · 15% of rent

---

Why this score? — see what drove the D 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).

• ARV discount +11.2/15.0
• Cash flow +7.3/30.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• 1% rule +4.1/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

Key facts

• Underground parking
• Ground level patio
• In unit laundry

Tags

• GROUND LEVEL PATIO
• UNDERGROUND PARKING
• ENSUITE BATHROOM
• IN UNIT LAUNDRY
• POND BESIDE THE PROPERTY
• ACCESS TO BIKE TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-236 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (8.6% below list).
• Recommended offer: $138k (23.2% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 2.7% in Iowa 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.9%/yr); 207 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $13k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $122k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $138,137 (23.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.91% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.63%
• DSCR: 0.75
• GRM: 9.1

CMA / ARV

• ARV (median comp): $196,187
• List price: $179,900
• Delta: -8.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: -23.1%
• Equity multiple: 0.19×
• Total profit: $-40,731
• Equity at exit: $26,824

10-year hold

• IRR: -12.1%
• Equity multiple: 0.20×
• Total profit: $-40,052
• Equity at exit: $15,554

Cash invested: $50,372 (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 52246

• Rents YoY: 4.9%
• Active inventory: 207
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$943
• Tax from tax record: −$268 /mo · $3,210/yr
• Insurance: −$75
• HOA: −$250
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-236

Break-even live

Break-even rent $1,944

Max offer price $138,137

Occupancy floor —

Sensitivity live

Price	-10% $-135	-5% $-185	+0% $-236	+5% $-287	+10% $-338
Rent	-10% $-366	-5% $-301	+0% $-236	+5% $-171	+10% $-106
Rate	-1.0pp $-146	-0.5pp $-191	base $-236	+0.5pp $-283	+1.0pp $-330

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1848 W Benton St #203 Iowa City, IA	3.0	2.0	1200	$1,800	$1.50	44d	1	0.61mi
334 Mosswood Ln Unit Available Iowa City, IA	3.0	2.0	1370	$1,400	$1.02	44d	1	0.94mi
740 Westwinds Dr #6 Iowa City, IA	2.0	1.0	900	$1,125	$1.25	44d	1	0.98mi
1014 Oakcrest St Unit 2 Iowa City, IA	2.0	1.0	900	$1,050	$1.17	44d	1	0.99mi
205 Woodside Dr Iowa City, IA	2.0	2.0	1100	$1,800	$1.64	44d	1	1.24mi
215 Melrose Ct Iowa City, IA	3.0	1.0	1400	$2,400	$1.71	44d	1	1.45mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-19
   days on market $179,900 Active 215 DOM
2. 2026-06-18
   days on market $179,900 Active 214 DOM
3. 2026-06-17
   days on market $179,900 Active 213 DOM
4. 2026-06-16
   days on market $179,900 Active 212 DOM
5. 2026-06-15
   days on market $179,900 Active 211 DOM
6. 2026-06-14
   days on market $179,900 Active 209 DOM
7. 2026-06-13
   days on market $179,900 Active 208 DOM
8. 2026-06-10
   days on market $179,900 Active 206 DOM
9. 2026-06-09
   days on market $179,900 Active 205 DOM
10. 2026-06-08
    days on market $179,900 Active 204 DOM
11. 2026-06-07
    pricedays on market $179,900 Active 203 DOM
12. 2026-06-05
    days on market $185,700 Active 200 DOM
13. 2026-06-03
    days on market $185,700 Active 199 DOM
14. 2026-06-02
    days on market $185,700 Active 198 DOM
15. 2026-06-01
    days on market $185,700 Active 197 DOM
16. 2026-05-31
    days on market $185,700 Active 196 DOM
17. 2026-05-30
    days on market $185,700 Active 195 DOM
18. 2026-05-03
    price $185,700 634-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

19. 2026-05-03
    price $185,700 635-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

20. 2026-02-16
    status Active 635-char remark

    Show marketing remark (634 chars)

    Cozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

21. 2026-02-16
    status Active 634-char remark

    Show marketing remark (634 chars)

    Cozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

22. 2026-02-06
    status Pending 635-char remark

    Show marketing remark (634 chars)

    Cozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

23. 2026-02-06
    status Pending 634-char remark

    Show marketing remark (634 chars)

    Cozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

24. 2026-01-12
    price $189,999 634-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

25. 2026-01-12
    price $189,999 635-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

26. 2025-11-05
    listed $192,900 Active 634-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

27. 2025-11-05
    listed $192,900 Active 635-char remark

    Show marketing remark (635 chars)

    CCozy 1st floor condo in Mallard Pointe with ground level patio and underground parking. This condo feature spacious bedrooms, wide hallways, ensuite bathroom and in unit laundry, in a great location in Iowa City. The condo is close to the UIHC and University of Iowa. Conveniently located on the city transit but route. Peaceful location with pond beside the property and access to many bike trails in the area. Recent repairs: several outlets replaced; hall bath tub faucet repaired; primary bath faucet replaced; water shutoff for washer repaired; HVAC serviced; HVAC duct work cleaned. Sellers cannot closed until 7/7/26 or later.

28. 2025-08-22
    price $197,900
29. 2025-07-15
    listed $199,900 Active
30. 2025-06-10
    price $199,900
31. 2025-04-14
    listed $205,000 Active
32. 2023-12-20
    historical $1,395
33. 2023-12-15
    listed $1,395
34. 2010-03-01
    soldstatus $122,000

ⓘ 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: $3,210 · $268/mo
• Projected year-2 tax: $3,210 · $268/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,739
• − Mortgage interest: −$10,077
• − Property taxes: −$3,210
• − Insurance: −$900
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − HOA: −$3,000
• − Depreciation: −$5,233
• Taxable loss: −$5,840
• Est. tax savings @ 24.0%: +$1,402
• After-tax cash flow: $-1,435/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,308
• Household income: $62,521
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1680.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 12% Asian 11% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Swedish 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 73% English-only · Spanish 6% Arabic 5% Chinese 4%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.08%
• Current HPI: 159.5713
• Rent YoY: ▲ 4.94%
• Metro: Iowa City, 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

+52.2% since first listed

17 events — show timeline

• 2026-05-03 Price Changed $185,700 ICAARMLS
• 2026-05-03 Price Changed $185,700 CRAAR, CDRMLS
• 2026-02-16 Relisted — CRAAR, CDRMLS
• 2026-02-16 Relisted — ICAARMLS
• 2026-02-06 Pending — CRAAR, CDRMLS
• 2026-02-06 Pending — ICAARMLS
• 2026-01-12 Price Changed $189,999 ICAARMLS
• 2026-01-12 Price Changed $189,999 CRAAR, CDRMLS
• 2025-11-05 Listed $192,900 CRAAR, CDRMLS
• 2025-11-05 Listed $192,900 ICAARMLS
• 2025-08-22 Price Changed $197,900 ICAARMLS
• 2025-07-15 Listed $199,900 ICAARMLS
• 2025-06-10 Price Changed $199,900 ICAARMLS
• 2025-04-14 Listed $205,000 ICAARMLS
• 2023-12-20 Rental Removed $1,395 RENTLY
• 2023-12-15 Listed for Rent $1,395 RENTLY
• 2010-03-01 Sold (Public Records) $122,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $3,210 · +1.3% YoY. Source: county tax records.