109 Union St · Council Bluffs, IA 51503

$95,000

2 bd · 1.0 ba · 448 sqft · SingleFamily public records · 19 Days on market

Built 1900

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in a convenient Council Bluffs location! This 2-bedroom, 1-bath home is situated near local hospitals, downtown Council Bluffs, and the 100 Block, offering easy access to dining, entertainment, employment, and major roadways. The property qualified for the City of Council Bluffs Lead Based Paint Reduction Program, with all related work completed in 2024. Whether you are looking to add to your rental portfolio or take on a property with upside potential, this home offers an affordable opportunity in a centrally located area. Property is being sold in its as-is condition.

Key facts

• Near local hospitals
• Built 1900
• Listed 19 days

Tags

• COUNCIL BLUFFS LOCATION
• NEAR LOCAL HOSPITALS
• EASY ACCESS TO DINING
• EASY ACCESS TO ENTERTAINMENT
• EASY ACCESS TO EMPLOYMENT
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; 2-story
• Construction: Frame construction
• Exterior features: No notable exterior features listed; Composition roof

Interior

• Kitchen: Eat-in kitchen layout
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Full unfinished basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $142 ($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 $92k (2.8% below list).
• Recommended offer: $92k (2.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.3% in Council Bluffs — 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 70/100 on livability (#368 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, amenities D, crime D-.
• Council Bluffs Community School District (urban): math 52% / reading 55% proficiency, ranked #272 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hoover Elementary School (math 67% / reading 62%, grade B, #317 of 616 statewide, top 58%, 429 students, 48% FRL); Gerald W Kirn Middle School (math 50% / reading 61%, grade B-, #199 of 246 statewide, top 81%, 956 students, 54% FRL); Abraham Lincoln High School (math 52% / reading 62%, grade C, #279 of 336 statewide, top 85%, 1,399 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; solid renter incomes; 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).
• This rent is only 14% of the median local income ($79k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pottawattamie County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,357 (2.8% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-7,608
• Equity at exit: $14,165

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $20
• Equity at exit: $8,214

Cash invested: $26,600 (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 51503

• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $142

Break-even live

Break-even rent $744

Max offer price $95,000

Occupancy floor 80%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $95,000 Active 19 DOM
2. 2026-06-17
   pricedays on market $95,000 Active 18 DOM
3. 2026-06-16
   days on market $100,000 Active 17 DOM
4. 2026-06-15
   days on market $100,000 Active 16 DOM
5. 2026-06-13
   days on market $100,000 Active 14 DOM
6. 2026-06-10
   days on market $100,000 Active 11 DOM
7. 2026-06-09
   days on market $100,000 Active 10 DOM
8. 2026-06-08
   days on market $100,000 Active 9 DOM
9. 2026-06-07
   days on market $100,000 Active 8 DOM
10. 2026-06-05
    days on market $100,000 Active 5 DOM
11. 2026-06-03
    days on market $100,000 Active 4 DOM
12. 2026-06-03
    days on market $100,000 Active 3 DOM
13. 2026-06-01
    days on market $100,000 Active 2 DOM
14. 2026-05-31
    remarks 597-char remark
15. 2026-05-31
    listed $100,000 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: $600 · $50/mo
• Projected year-2 tax: $1,046 · $87/mo
• Expected delta: +$446/yr (+$37/mo · 74.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,083
• − Mortgage interest: −$5,321
• − Property taxes: −$600
• − Insurance: −$475
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$2,764
• Taxable income: $149
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $1,666/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: Council Bluffs Community School District
• NCES district ID: 1908220
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $45,259
• Composite: 45.23/100
• National rank: #2665
• State rank: #272 of 289 in IA

Livability — Council Bluffs

• Score: 70/100
• State rank: #368
• US rank: #7695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Bluffs, IA
• County: Pottawattamie County · 72,590 people
• City population: 72,590
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 37,972
• Household income: $79,010
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 911.0

Population outlook (Pottawattamie County) Hauer SSP2

• Today (2025): 93,683 people
• By 2030: 92,772 · -1.0%
• By 2040: 89,917 · -4.0%
• By 2050: 86,994 · -7.1%
• By 2075: 82,756 · -11.7%
• By 2100: 79,097 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 3% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Pottawattamie

• 2024 margin: R (+20.0) · D 39.3% · R 59.3% · Other 1.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -1.9pp · 2024: -20.0pp
• All cycles: 2024: R+20.0 2020: R+16.8 2016: R+21.6 2012: R+5.8 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.54%
• Current HPI: 200.6226
• Rent YoY: ▲ 1.67%
• Metro: Omaha-Council Bluffs, NE-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

1 event — show timeline

• 2026-05-30 Listed $100,000 SWIAR

Property tax history

+14.9%/yr

Latest (2025): $600 · +3.1% YoY. Source: county tax records.