2002 Decorah St · Dubuque, IA 52001

$140,000

3 bd · 1.5 ba · 2,121 sqft · SingleFamily public records · 9 Days on market

Built 1949 Est $252k · 45% under

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Why this score? — see what drove the B 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.5/10.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't let the cozy size fool you — this sweet little mid century Cape Cod on the corner of Decorah and Alta Place is full of charm! It has 3 bedrooms, 1.5 baths, and a bonus room that's currently living its best life as a den or home office but could easily be a 4th bedroom. The seller has identified a rear foundation area that could use some attention. This home has been priced accordingly and is ready for its new owner! Whether you're a first-time buyer or a handy homeowner ready to flex their skills, 2002 Decorah Street is a great opportunity. Come see it before someone else falls in love first!

Key facts

• Built 1949
• Listed 9 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One and one-half stories; Concrete perimeter foundation
• Construction: Shingle roof
• Exterior features: Patio

Interior

• Kitchen: Refrigerator; Range; Dishwasher
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating with natural gas
• Interior features: Window treatments; No fireplace; Full basement
• Laundry & utility: Washer and dryer; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.8% 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: Hoover Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 303 students, 47% FRL); Dubuque Senior High School (math 63% / reading 74%, grade B, #181 of 336 statewide, top 54%, 1,435 students, 36% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 4 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; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/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 $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1949 — 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. 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?
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: 1.15% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $252,399
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Devon Dr	0.52mi	3/2.0	2,108 (-1%)	1mo	$265,000	$126	72
1390 Loras Blvd	0.37mi	4/2.5 (+1)	2,111 (-0%)	2mo	$225,000	$107	71
1523 Adair St	0.26mi	3/2.0	1,858 (-12%)	1mo	$215,000	$116	65
2422 University Ave	0.27mi	4/1.5 (+1)	2,324 (+10%)	4mo	$238,000	$102	63
1975 Hale St	0.45mi	4/3.0 (+1)	2,053 (-3%)	0mo	$238,200	$116	62
1896 Floraview Dr	0.48mi	4/2.0 (+1)	2,059 (-3%)	4mo	$230,000	$112	62
1086 Wood St	0.42mi	4/1.5 (+1)	1,936 (-9%)	3mo	$240,000	$124	59
2485 Pearl St	0.33mi	3/1.5	1,814 (-14%)	4mo	$215,000	$119	57
2637 Nebraska St	0.56mi	3/2.0	2,420 (+14%)	2mo	$266,000	$110	47
1821 Glendale Ct	0.52mi	4/2.0 (+1)	2,424 (+14%)	0mo	$326,500	$135	45
2192 Fairway Dr	0.59mi	4/2.0 (+1)	2,422 (+14%)	1mo	$325,000	$134	41
44 S Algona St	0.57mi	4/2.5 (+1)	1,842 (-13%)	6mo	$224,000	$122	38

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $450
• Equity at exit: $20,874

10-year hold

• IRR: 12.5%
• Equity multiple: 2.11×
• Total profit: $43,517
• Equity at exit: $12,105

Cash invested: $39,200 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,604 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $294

Break-even live

Break-even rent $1,231

Max offer price $140,000

Occupancy floor 77%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1742 Delhi St Dubuque, IA	2.0	1.5	1534	$1,300	$0.85	44d	1	0.34mi
703 Caledonia Pl Dubuque, IA	3.0	1.0	1400	$1,400	$1.00	44d	1	0.98mi
500 Hill St Unit 2 Dubuque, IA	3.0	1.0	1900	$1,910	$1.01	44d	1	1.02mi
1199 Central Ave Unit 302 Dubuque, IA	4.0	3.0	2339	$2,850	$1.22	44d	1	1.35mi

Listing history 1 events

1. 2026-05-19
   listed $140,000 Active

ⓘ 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: $2,164 · $180/mo
• Projected year-2 tax: $2,181 · $182/mo
• Expected delta: +$17/yr (+$1/mo · 0.8%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,250
• − Mortgage interest: −$7,842
• − Property taxes: −$2,164
• − Insurance: −$700
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − Depreciation: −$4,073
• Taxable income: $1,391
• Est. tax owed @ 24.0%: −$334
• After-tax cash flow: $3,199/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

• Census place: Dubuque, IA
• 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

1 event — show timeline

• 2026-05-19 Listed $140,000 ECIMLS

Property tax history

+1.7%/yr

Latest (2025): $2,164 · +3.3% YoY. Source: county tax records.