3811 Hillside Dr · Cedar Falls, IA 50613

$219,000

3 bd · 2.5 ba · 2,102 sqft · SingleFamily public records · 113 Days on market

Built 1952 0.28 ac lot $104/sqft · 25% below area Est $248k · 12% 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 +17.1/30.0
• ARV discount +12.8/15.0
• Schools +6.6/10.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

Key facts

• Large master bedroom
• Three closets
• Gorgeous bay window

Tags

• LARGE MASTER BEDROOM
• THREE CLOSETS
• FORMAL DINING AREA
• GORGEOUS BAY WINDOW
• MULTI-LEVEL DECK
• WORKSHOP AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $210k (4.1% below list).
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.1% in Cedar Falls — 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 (#60 in IA, #1,357 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Cedar Falls Community School District (urban): math 76% / reading 79% proficiency, ranked #45 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.0%/yr); 387 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).
• This rent runs 32% of the median local income ($79k/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 $2k of loan paydown is wiped out by about $7k 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 113 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $36k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1952 — 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: 0.96% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $248,162
• List price: $219,000
• Delta: -11.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3814 Hillside Dr	0.04mi	4/2.0 (+1)	2,003 (-5%)	2mo	$285,000	$142	82
1902 Primrose Dr	0.27mi	2/3.0 (-1)	2,130 (+1%)	3mo	$310,000	$146	76
122 Maryhill Dr Dr	0.52mi	3/2.5	2,025 (-4%)	2mo	$258,000	$127	68
3403 Rownd St	0.30mi	4/3.0 (+1)	2,232 (+6%)	0mo	$321,000	$144	68
4204 Crestview Dr	0.30mi	4/2.0 (+1)	1,966 (-6%)	0mo	$305,000	$155	68
3119 Cadillac Dr	0.66mi	3/2.0	2,092 (-0%)	0mo	$289,900	$139	66
3103 Alameda St	0.55mi	3/1.0	2,154 (+2%)	3mo	$235,000	$109	62
4309 Crestview Dr	0.37mi	4/2.0 (+1)	1,926 (-8%)	2mo	$294,900	$153	60
4223 Clearview Dr	0.28mi	3/2.0	1,829 (-13%)	6mo	$262,000	$143	58
2804 Neola St	0.69mi	3/2.0	2,162 (+3%)	7mo	$314,800	$146	55
2019 Greenhill Dr	0.37mi	4/2.0 (+1)	1,830 (-13%)	0mo	$300,000	$164	54
3709 Laurinda Dr	0.69mi	3/2.0	2,204 (+5%)	7mo	$235,000	$107	52

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 · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.54×
• Total profit: $-27,912
• Equity at exit: $32,654

10-year hold

• IRR: -5.3%
• Equity multiple: 0.67×
• Total profit: $-20,360
• Equity at exit: $18,935

Cash invested: $61,320 (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 50613

• Rents YoY: 2.0%
• Active inventory: 387
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$268 /mo · $3,210/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $152

Break-even live

Break-even rent $1,908

Max offer price $219,000

Occupancy floor 88%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3856 Jay Ln Waterloo, IA	3.0	3.5	1520	$1,975	$1.30	43d	1	0.75mi
1915 Mayfair St Waterloo, IA	4.0	2.5	2300	$2,100	$0.91	43d	1	1.08mi
725 Melendy Ln Cedar Falls, IA	3.0	2.0	1526	$2,800	$1.83	43d	1	1.13mi

Listing history 14 events

1. 2026-05-07
   status Pending 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

2. 2026-05-04
   price $219,000 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

3. 2026-04-03
   price $229,000 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

4. 2026-03-19
   price $234,900 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

5. 2026-02-05
   price $241,000 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

6. 2026-01-22
   price $248,900 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

7. 2026-01-14
   listed $255,000 Active 804-char remark

   Show marketing remark (804 chars)

   This lovely, well-maintained Cedar Falls ranch in a prime neighborhood is sure to impress and fit your needs! This gem features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and gorgeous bay window, and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom, shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs. Nestled in a quiet, established neighborhood and within walking distance to Orchard Hill Elementary, parks and trails, this charmer is ready to be your home sweet home.

8. 2022-02-21
   soldstatus $204,875
9. 2022-02-18
   soldstatus $205,000 585-char remark

   Show marketing remark (585 chars)

   This sprawling Cedar Falls ranch in a beautiful neighborhood is sure to impress! This home features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom and shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs.

10. 2021-11-01
    listed $209,900 585-char remark

    Show marketing remark (585 chars)

    This sprawling Cedar Falls ranch in a beautiful neighborhood is sure to impress! This home features a large master bedroom, complete with three closets and a large window overlooking the backyard. Finishing out the spacious main floor are two additional bedrooms, full bath, formal dining area, lovely kitchen, living room w/ fireplace and a perfect family room with sliding glass doors leading out to an amazing multi-level deck. The lower level boasts an additional bathroom and shower, laundry, a workshop area, large bonus room and plenty of space to finish off to fit your needs.

11. 2017-08-09
    soldstatus $184,875
12. 2017-08-01
    soldstatus $184,900
13. 2017-06-28
    listed $184,900
14. 2015-05-04
    soldstatus $136,000

ⓘ 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: $3,324 · $277/mo
• Expected delta: +$114/yr (+$10/mo · 3.6%)

ⓘ 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 · 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: $25,208
• − Mortgage interest: −$12,267
• − Property taxes: −$3,210
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$6,371
• Taxable loss: −$1,768
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $2,252/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: Cedar Falls Community School District
• NCES district ID: 1906510
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 79% ▼ -2.00%
• Median HH income: $53,634
• Composite: 65.93/100
• National rank: #443
• State rank: #45 of 289 in IA

Livability — Cedar Falls

• Score: 81/100
• State rank: #60
• US rank: #1357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Falls, IA
• County: Black Hawk County · 112,933 people
• City population: 43,867
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 43,867
• Household income: $78,503
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1514.0

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 (90%)
• Race & ethnicity: White 90% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Italian 3% Iranian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -175.51%
• Current HPI: 169.0591
• Rent YoY: ▲ 1.97%
• 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

+61.0% since first listed

14 events — show timeline

• 2026-05-07 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-04 Price Changed $219,000 NEIRBR as distributed by MLS GRID
• 2026-04-03 Price Changed $229,000 NEIRBR as distributed by MLS GRID
• 2026-03-19 Price Changed $234,900 NEIRBR as distributed by MLS GRID
• 2026-02-05 Price Changed $241,000 NEIRBR as distributed by MLS GRID
• 2026-01-22 Price Changed $248,900 NEIRBR as distributed by MLS GRID
• 2026-01-14 Listed $255,000 NEIRBR as distributed by MLS GRID
• 2022-02-21 Sold (Public Records) $204,875 Public Records
• 2022-02-18 Sold (MLS) $205,000 NEIRBR as distributed by MLS GRID
• 2021-11-01 Listed $209,900 NEIRBR as distributed by MLS GRID
• 2017-08-09 Sold (Public Records) $184,875 Public Records
• 2017-08-01 Sold (MLS) $184,900 NEIRBR as distributed by MLS GRID
• 2017-06-28 Listed $184,900 NEIRBR as distributed by MLS GRID
• 2015-05-04 Sold (Public Records) $136,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $3,210 · +3.1% YoY. Source: county tax records.