17656 Gardners Ln · Dubuque, IA 52001

$185,000

3 bd · 1.5 ba · 1,603 sqft · SingleFamily public records · 56 Days on market

Built 1910 $115/sqft · 28% below area Est $320k · 42% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.9/30.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• 1% rule +2.8/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need garage & storage space? Look no further! Country living just outside of town in this 3-4 bedroom, 2 bath home with a spacious 32x29 detached garage & extra parking for an RV or trailer! Spacious updated oak kitchen, updated baths, main floor laundry, screened porch, newer windows & doors, and large bonus/family room upstairs. Quiet location ready for you! * 1 bedroom up is a walkthrough. Seller is leaving the wardrobes in the 2 smaller bedrooms upstairs. Seller is taking the gas fireplace insert.

Key facts

• Screened in porch
• Large kitchen
• Xl garage

Tags

• LARGE KITCHEN
• STONE FIREPLACE
• JACK AND JILL STYLE BATHROOM
• SCREENED IN PORCH
• XL GARAGE

Property features AI

Exterior

• Parking: Detached parking; Three total parking spaces
• Utilities: Well water; Private sewer
• Home design: Single-family detached residence; Two stories
• Construction: Stone foundation; Flat metal roof
• Exterior features: Porch; Screened porch

Interior

• Kitchen: Other appliances
• Bedrooms: One main-level bedroom
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Propane heating; Other heating; Central air conditioning
• Interior features: Living room fireplace; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (22.5% below list).
• Recommended offer: $143k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.5% in Dubuque — 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 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sageville Elementary School (math 82% / reading 62%, grade A-, #181 of 616 statewide, top 34%, 293 students, 20% FRL); Hempstead High School (math 64% / reading 71%, grade B, #186 of 336 statewide, top 57%, 1,584 students, 38% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $145k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $143,429 (22.5% 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 56 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.66%
• DSCR: 0.88
• GRM: 10.7

CMA / ARV

• ARV (median comp): $320,463
• List price: $185,000
• Delta: -42.27%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10418 Emberwood Dr	0.09mi	4/2.0 (+1)	1,676 (+5%)	11mo	$339,000	$202	72
10506 Emberwood Dr	0.11mi	3/1.0	1,364 (-15%)	9mo	$225,000	$165	61
9935 Ginger Rdg	0.61mi	3/2.0	1,788 (+12%)	6mo	$284,000	$159	46
507 Sapphire Cir	0.63mi	3/2.0	1,680 (+5%)	22mo	$192,000	$114	43

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.36×
• Total profit: $-33,383
• Equity at exit: $27,584

10-year hold

• IRR: -5.8%
• Equity multiple: 0.58×
• Total profit: $-21,591
• Equity at exit: $15,995

Cash invested: $51,800 (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 52001

• Rents YoY: 5.6%
• Active inventory: 225
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$200 /mo · $2,406/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-115

Break-even live

Break-even rent $1,579

Max offer price $164,746

Occupancy floor —

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
823 Hawkeye Dr Dubuque, IA	2.0	1.5	1228	$1,550	$1.26	44d	1	1.42mi

Listing history 21 events

1. 2026-06-19
   days on market $185,000 Active 56 DOM
2. 2026-06-18
   days on market $185,000 Active 55 DOM
3. 2026-06-17
   days on market $185,000 Active 54 DOM
4. 2026-06-16
   days on market $185,000 Active 53 DOM
5. 2026-06-15
   days on market $185,000 Active 52 DOM
6. 2026-06-14
   days on market $185,000 Active 50 DOM
7. 2026-06-13
   days on market $185,000 Active 49 DOM
8. 2026-06-10
   days on market $185,000 Active 47 DOM
9. 2026-06-09
   days on market $185,000 Active 46 DOM
10. 2026-06-08
    days on market $185,000 Active 45 DOM
11. 2026-06-07
    days on market $185,000 Active 44 DOM
12. 2026-06-05
    days on market $185,000 Active 41 DOM
13. 2026-06-03
    days on market $185,000 Active 40 DOM
14. 2026-06-02
    days on market $185,000 Active 39 DOM
15. 2026-06-01
    days on market $185,000 Active 38 DOM
16. 2026-05-31
    days on market $185,000 Active 37 DOM
17. 2026-05-30
    days on market $185,000 Active 36 DOM
18. 2026-04-24
    listed $185,000 Active 706-char remark
19. 2017-05-26
    soldstatus $144,700
20. 2017-05-25
    soldstatus $144,700 527-char remark

    Show marketing remark (527 chars)

    Need garage & storage space? Look no further! Country living just outside of town in this 3-4 bedroom, 2 bath home with a spacious 32x29 detached garage & extra parking for an RV or trailer! Spacious updated oak kitchen, updated baths, main floor laundry, screened porch, newer windows & doors, and large bonus/family room upstairs. Quiet location ready for you! * 1 bedroom up is a walkthrough. Seller is leaving the wardrobes in the 2 smaller bedrooms upstairs. Seller is taking the gas fireplace insert.

21. 2017-03-03
    listed $147,900 527-char remark

    Show marketing remark (527 chars)

    Need garage & storage space? Look no further! Country living just outside of town in this 3-4 bedroom, 2 bath home with a spacious 32x29 detached garage & extra parking for an RV or trailer! Spacious updated oak kitchen, updated baths, main floor laundry, screened porch, newer windows & doors, and large bonus/family room upstairs. Quiet location ready for you! * 1 bedroom up is a walkthrough. Seller is leaving the wardrobes in the 2 smaller bedrooms upstairs. Seller is taking the gas fireplace insert.

ⓘ 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: $2,406 · $200/mo
• Projected year-2 tax: $2,655 · $221/mo
• Expected delta: +$249/yr (+$21/mo · 10.4%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,211
• − Mortgage interest: −$10,363
• − Property taxes: −$2,406
• − Insurance: −$925
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$5,382
• Taxable loss: −$4,618
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $-268/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: Dubuque Community School District
• NCES district ID: 1909480
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $51,237
• Composite: 54.51/100
• National rank: #1345
• State rank: #205 of 289 in IA

Livability — Dubuque

• Score: 89/100
• State rank: #7
• US rank: #119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dubuque County · 60,106 people
• City population: 60,106
• Metro: Dubuque, IA
• Population (ZIP): 43,101
• Household income: $61,643
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1940.0

Population outlook (Dubuque County) Hauer SSP2

• Today (2025): 103,359 people
• By 2030: 106,472 · +3.0%
• By 2040: 112,043 · +8.4%
• By 2050: 116,553 · +12.8%
• By 2075: 128,014 · +23.9%
• By 2100: 132,892 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 1% Pacific Islander 1%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Dubuque

• 2024 margin: Lean R (+8.6) · D 45.1% · R 53.7% · Other 1.2%
• 2008→2024 swing: -29.4pp toward R · 2008: 20.8pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+1.2 2012: D+14.5 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.36%
• Current HPI: 173.5536
• Rent YoY: ▲ 5.63%
• Metro: Dubuque, 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

+25.1% since first listed

4 events — show timeline

• 2026-04-24 Listed $185,000 ECIMLS
• 2017-05-26 Sold (Public Records) $144,700 Public Records
• 2017-05-25 Sold (MLS) $144,700 ECIMLS
• 2017-03-03 Listed $147,900 ECIMLS

Property tax history

+4.6%/yr

Latest (2025): $2,406 · +3.4% YoY. Source: county tax records.