1134 N Barclay St · Waterloo, IA 50703

$125,000

3 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 17 Days on market

Built 1951 6,670 sqft lot

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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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in a good neighborhood close to Gates Park! Three bedrooms, dining room, and full bathroom on main floor. Double garage on a nice sized lot. * * 24 hour notice for all showings- tenant occupied.

Key facts

• Full bathroom
• Double garage
• Nice sized lot

Tags

• GATES PARK
• DINING ROOM
• FULL BATHROOM
• DOUBLE GARAGE
• NICE SIZED LOT

Property features AI

Exterior

• Parking: Detached 2-space carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; R-4 zoning
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Concrete road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-7 ($-86/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (20.2% below list).
• Recommended offer: $100k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Cunningham School (math 32% / reading 32%, grade F, #601 of 616 statewide, top 98%, 376 students, 90% FRL); George Washington Carver Academy (math 36% / reading 43%, grade F, #240 of 246 statewide, top 98%, 442 students, 91% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL) — zoned schools average 85% FRL vs 58% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 52% district-wide (-12 pts) — the specific schools serving this property underperform the Waterloo Community School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.7%/yr); 99 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $864 of loan paydown is wiped out by about $4k 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 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $125k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,743 (20.2% 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. Built in 1951 — 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. 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?
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: 0.80% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $73,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Oliver St	0.19mi	3/1.0	1,006 (-6%)	1mo	$125,000	$124	80
319 Oliver St St	0.14mi	3/1.0	964 (-10%)	3mo	$55,000	$57	74
68 E Parker St St	0.43mi	2/1.0 (-1)	1,046 (-2%)	2mo	$82,000	$78	69
427 Hope Ave	0.62mi	3/1.0	1,036 (-3%)	3mo	$134,900	$130	63
324 Sumner St	0.56mi	3/1.0	1,011 (-6%)	2mo	$66,500	$66	63
211 Boston Ave Ave	0.38mi	3/1.0	932 (-13%)	2mo	$90,100	$97	59
324 Bates St	0.74mi	3/1.0	1,092 (+2%)	6mo	$135,000	$124	57
533 Reed St	0.69mi	4/2.0 (+1)	1,076 (+0%)	1mo	$60,000	$56	57
126 Hope Avenue Ave	0.45mi	3/1.0	1,185 (+10%)	6mo	$56,000	$47	56
235 Jackson St	0.70mi	2/1.0 (-1)	1,056 (-2%)	6mo	$25,000	$24	55
406 Oneida St St	0.64mi	3/2.0	1,028 (-4%)	6mo	$60,000	$58	54
2811 E 4th St St	0.74mi	3/1.0	1,189 (+11%)	3mo	$82,000	$69	45

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 · 6.67% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.52×
• Total profit: $-16,918
• Equity at exit: $18,638

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,474
• Equity at exit: $10,808

Cash invested: $35,000 (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 50703

• Rents YoY: 6.7%
• Active inventory: 99
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $997 high
• Mortgage (P&I): −$656
• Tax from tax record: −$88 /mo · $1,050/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-7

Break-even live

Break-even rent $1,006

Max offer price $123,741

Occupancy floor 96%

Sensitivity live

Price	-10% $64	-5% $28	+0% $-7	+5% $-43	+10% $-78
Rent	-10% $-86	-5% $-47	+0% $-7	+5% $32	+10% $72
Rate	-1.0pp $56	-0.5pp $25	base $-7	+0.5pp $-40	+1.0pp $-72

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Charles St Waterloo, IA	3.0	1.0	1276	$995	$0.78	45d	1	0.12mi
306 Charles St Waterloo, IA	3.0	1.0	916	$925	$1.01	45d	1	0.16mi
203 Reed St Waterloo, IA	3.0	1.5	1492	$1,200	$0.80	23d	1	0.65mi
613 Hope Ave Waterloo, IA	2.0	1.0	812	$795	$0.98	45d	1	0.73mi
214 Edwards St Waterloo, IA	3.0	1.0	1150	$825	$0.72	23d	1	0.73mi
919 Oneida St Waterloo, IA	3.0	1.0	1144	$930	$0.81	45d	1	0.74mi
314 Conger St Waterloo, IA	2.0	1.0	840	$875	$1.04	45d	1	0.75mi
1148 Columbia St Waterloo, IA	2.0	1.0	816	$850	$1.04	45d	1	0.75mi
401 Argyle St Waterloo, IA	2.0	1.0	800	$800	$1.00	45d	1	0.80mi
1125 Ackermant St Waterloo, IA	3.0	2.0	1202	$1,100	$0.92	23d	1	0.83mi
739 Sherman Ave Waterloo, IA	3.0	1.0	875	$925	$1.06	45d	1	0.84mi
405 W Donald St Waterloo, IA	2.0–3.0	1.0	880	$1,000	$1.14	23d	4	1.09mi
425 Glenwood St Waterloo, IA	2.0	1.0	846	$825	$0.98	23d	1	1.12mi
661 Dawson St Waterloo, IA	2.0	1.0	704	$895	$1.27	23d	1	1.14mi
311 E 3rd St Waterloo, IA	2.0	2.0	1154	$1,500	$1.30	23d	1	1.14mi
2014 Clearview St Evansdale, IA	2.0	1.0	708	$795	$1.12	45d	1	1.21mi
520 Lafayette St Unit A Waterloo, IA	2.0	1.0	800	$750	$0.94	45d	1	1.22mi
823 Glenwood St Waterloo, IA	2.0	1.0	999	$895	$0.90	45d	1	1.24mi
910 Mulberry St Apt 3 Waterloo, IA	2.0	1.0	1064	$695	$0.65	23d	1	1.29mi
216 Courtland St Apt 1 Waterloo, IA	4.0	1.0	1150	$825	$0.72	23d	1	1.30mi
1107 Mulberry St Waterloo, IA	3.0	1.0	1248	$950	$0.76	23d	1	1.36mi
1911 Springview St Evansdale, IA	2.0	1.0	960	$875	$0.91	45d	1	1.38mi
2014 Springview St Waterloo, IA	2.0	1.0	1064	$975	$0.92	23d	1	1.39mi
824 Sycamore St Unit 824-09 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	45d	1	1.43mi
920-928 Sycamore St Unit 920-07 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	45d	1	1.44mi
924 Sycamore St #1 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	45d	1	1.47mi
1720 Franklin St Waterloo, IA	4.0	1.5	1392	$1,000	$0.72	45d	1	1.49mi

Listing history 14 events

1. 2026-06-21
   days on market $125,000 Active 17 DOM
2. 2026-06-19
   days on market $125,000 Active 15 DOM
3. 2026-06-18
   days on market $125,000 Active 14 DOM
4. 2026-06-17
   days on market $125,000 Active 13 DOM
5. 2026-06-16
   days on market $125,000 Active 12 DOM
6. 2026-06-15
   days on market $125,000 Active 11 DOM
7. 2026-06-14
   days on market $125,000 Active 9 DOM
8. 2026-06-13
   days on market $125,000 Active 8 DOM
9. 2026-06-10
   days on market $125,000 Active 6 DOM
10. 2026-06-09
    days on market $125,000 Active 5 DOM
11. 2026-06-08
    days on market $125,000 Active 4 DOM
12. 2026-06-07
    days on market $125,000 Active 3 DOM
13. 2026-06-05
    remarks 213-char remark
14. 2026-06-05
    listed $125,000 Active 1 DOM

ⓘ 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: $1,050 · $88/mo
• Projected year-2 tax: $1,506 · $126/mo
• Expected delta: +$456/yr (+$38/mo · 43.5%)

ⓘ 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 2/10 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: $11,969
• − Mortgage interest: −$7,002
• − Property taxes: −$1,050
• − Insurance: −$625
• − Repairs & maintenance: −$958
• − Management: −$958
• − Depreciation: −$3,636
• Taxable loss: −$2,259
• Est. tax savings @ 24.0%: +$542
• After-tax cash flow: $457/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): 17,952
• Household income: $50,060
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 871.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -117.18%
• Current HPI: 132.9478
• Rent YoY: ▲ 6.67%
• 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

+316.7% since first listed

2 events — show timeline

• 2026-06-04 Listed $125,000 NEIRBR as distributed by MLS GRID
• 2017-08-31 Sold (Public Records) $30,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,050 · +8.5% YoY. Source: county tax records.