2438 8th Ave · Council Bluffs, IA 51501

$35,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 13 Days on market

Built 1920 6,400 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property condemned by city, city has to be notified to get permission to show. agent can call Molly at city 712-890-5283 to get permission to show. NO SHOWINGS without city approval. NO SHOWINGS ON WEEK-END agent to notify Molly name and co showing day and time, city will issue permit to show to be picked up by agent at city for showing. list agent has NOTICE OF VIOLATION

Key facts

• 6,400 sq ft lot
• Built 1920
• Listed 13 days

Property features AI

Exterior

• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Composition roof; Built on partial basement
• Exterior features: Waterfront lot; Concrete road access; Sidewalks

Interior

• Heating & cooling: Has heating (type: Other); No cooling
• Interior features: Other interior features
• Laundry & utility: Washer hookup on the main level; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 24.2% 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: Edison Elementary School (math 54% / reading 43%, grade D, #526 of 616 statewide, top 86%, 432 students, 63% FRL); Woodrow Wilson Middle School (math 54% / reading 51%, grade C+, #209 of 246 statewide, top 85%, 900 students, 75% FRL); Thomas Jefferson High School (math 40% / reading 53%, grade D-, #321 of 336 statewide, top 96%, 1,243 students, 65% FRL) — zoned schools average 68% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 140 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.00% ✓
• Cap rate: 24.18%
• Cash-on-cash: 63.88%
• DSCR: 3.84
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $132,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2730 6th Ave	0.36mi	2/1.0	776 (+1%)	8mo	$125,000	$161	75
2023 7th Ave	0.38mi	1/1.0 (-1)	748 (-3%)	9mo	$105,000	$140	66
2817 3rd Ave	0.51mi	2/1.0	806 (+5%)	3mo	$85,000	$105	66
401 S 24th St	0.25mi	2/1.0	864 (+12%)	3mo	$148,500	$172	65
2622 Avenue B Ave	0.67mi	2/1.0	762 (-1%)	8mo	$136,000	$178	61
2555 Avenue C Ave	0.69mi	2/1.0	750 (-2%)	4mo	$145,500	$194	61
2740 Avenue B	0.73mi	2/1.0	792 (+3%)	3mo	$125,000	$158	58
2613 5th Ave	0.25mi	1/2.0 (-1)	854 (+11%)	9mo	$160,000	$187	53
905 Ash St	0.42mi	3/1.0 (+1)	875 (+14%)	8mo	$200,000	$229	46
2128 A Ave	0.63mi	2/1.0	879 (+14%)	2mo	$132,000	$150	44
2013 3rd Ave	0.47mi	1/1.0 (-1)	660 (-14%)	7mo	$140,000	$212	44
3101 8th Ave	0.67mi	3/1.0 (+1)	875 (+14%)	0mo	$144,000	$165	40

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 · 0.56% rent growth · sell at horizon

5-year hold

• IRR: 60.0%
• Equity multiple: 3.56×
• Total profit: $25,091
• Equity at exit: $5,219

10-year hold

• IRR: 63.7%
• Equity multiple: 6.61×
• Total profit: $55,020
• Equity at exit: $3,026

Cash invested: $9,800 (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 51501

• Rents YoY: 0.6%
• Active inventory: 140
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,051 high
• Mortgage (P&I): −$184
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $522

Break-even live

Break-even rent $390

Max offer price $35,000

Occupancy floor 45%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2523 3rd Ave Unit 8 Council Bluffs, IA	2.0	1.0	720	$750	$1.04	44d	1	0.25mi
2436 3rd Ave Unit 04 Council Bluffs, IA	2.0	1.0	768	$950	$1.24	44d	1	0.29mi
2717 Avenue A Apt 4 Council Bluffs, IA	2.0	1.0	672	$995	$1.48	44d	1	0.61mi
2404 Avenue B Unit B Council Bluffs, IA	2.0	1.0	1014	$1,585	$1.56	44d	1	0.63mi
2018 Avenue A Unit 2018 Council Bluffs, IA	1.0	1.0	560	$750	$1.34	44d	1	0.69mi
2018 Avenue A Unit 2018 Council Bluffs, IA	1.0	1.0	560	$775	$1.38	24d	1	0.69mi
1600 4th Ave #2 Council Bluffs, IA	3.0	1.0	1056	$1,800	$1.70	44d	1	0.77mi
10 N 31st St Unit A Council Bluffs, IA	2.0	1.0	840	$795	$0.95	44d	1	0.83mi
1634 Avenue A Unit A Council Bluffs, IA	3.0	1.0	1105	$1,465	$1.33	14d	1	0.88mi
806 N 34th St Council Bluffs, IA	2.0	1.0	942	$1,062	$1.13	44d	11	1.35mi
806 N 34th St Council Bluffs, IA	1.0–2.0	1.0	776	$1,105	$1.42	2d	16	1.35mi
913 Avenue A Council Bluffs, IA	2.0	1.0	828	$795	$0.96	24d	1	1.35mi
806 N 34th St Unit 803-14 Council Bluffs, IA	2.0	1.0	930	$1,000	$1.08	21d	1	1.36mi
806 N 34th St Unit 805-17 Council Bluffs, IA	2.0	1.0	955	$1,125	$1.18	24d	1	1.36mi
806 N 34th St Unit 803-2 Council Bluffs, IA	2.0	1.0	955	$1,115	$1.17	24d	1	1.36mi
806 N 34th St Unit 802-2 Council Bluffs, IA	2.0	1.0	955	$1,079	$1.13	24d	1	1.36mi
806 N 34th St Unit 802-6 Council Bluffs, IA	2.0	1.0	930	$1,090	$1.17	24d	1	1.36mi
806 N 34th St Unit 805-4 Council Bluffs, IA	2.0	1.0	930	$1,049	$1.13	24d	1	1.36mi
1222 N 31st St Council Bluffs, IA	2.0–4.0	1.0	1031	$1,029	$1.00	2d	7	1.38mi
3726 3rd Ave Apt E Council Bluffs, IA	2.0	1.0	748	$895	$1.20	44d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $35,000 Active 13 DOM
2. 2026-06-17
   remarks 379-char remark
3. 2026-06-17
   price $35,000 Active 12 DOM
4. 2026-06-17
   days on market $40,000 Active 12 DOM
5. 2026-06-16
   days on market $40,000 Active 11 DOM
6. 2026-06-15
   days on market $40,000 Active 10 DOM
7. 2026-06-13
   days on market $40,000 Active 8 DOM
8. 2026-06-10
   remarks 343-char remark
9. 2026-06-10
   days on market $40,000 Active 5 DOM
10. 2026-06-09
    days on market $40,000 Active 4 DOM
11. 2026-06-08
    remarks 209-char remark
12. 2026-06-08
    days on market $40,000 Active 3 DOM
13. 2026-06-07
    remarks 163-char remark
14. 2026-06-07
    listed $40,000 Active 2 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,609
• − Mortgage interest: −$1,961
• − Property taxes: −$1,324
• − Insurance: −$175
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$1,018
• Taxable income: $6,114
• Est. tax owed @ 24.0%: −$1,467
• After-tax cash flow: $4,792/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): 34,618
• Household income: $59,843
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1110.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 8% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

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: ▼ -187.49%
• Current HPI: 215.2532
• Rent YoY: ▲ 0.56%
• 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

• 2026-06-05 Listed $40,000 SWIAR

Property tax history

+3.6%/yr

Latest (2025): $1,324 · +1.1% YoY. Source: county tax records.