4404 Polk St · Sioux City, IA 51108

$150,000

4 bd · 2.0 ba · 1,476 sqft · SingleFamily public records · 125 Days on market

Built 1905 10,000 sqft lot $102/sqft · 25% below area Est $199k · 25% under ↓ 25% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Schools +4.7/10.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sitting on 2 flat lots in Leeds is this charming bungalow home with 4 bedrooms and 2 bathrooms and lots of character. There is no garage but there is alley access to the back yard. A welcoming front porch brings you in to the living room with carpet and a ceiling fan. At the back of the home is an eat in kitchen with white cabinets and stove and frig are included. Access to upstairs and downstairs from here. There are 2 bedrooms on the main floor each with a single closet and a full bathroom in between the bedrooms. Upstairs are 2 generous bedrooms each with a double closet and a 3/4 bathroom and a hall that could be used for storage. The basement has shelf walls and is unfinished.

Key facts

• Alley access
• Double closet
• White cabinets

Tags

• ALLEY ACCESS
• WELCOMING FRONT PORCH
• EAT IN KITCHEN
• WHITE CABINETS
• DOUBLE CLOSET
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $25 ($306/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 $131k (12.7% below list).
• Recommended offer: $131k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.7% in Sioux City — 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 27 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 170 units permitted in Woodbury County in 2024 (90 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,900 (12.7% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.87% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (median comp): $199,366
• List price: $150,000
• Delta: -24.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4629 Fillmore St	0.27mi	3/2.0 (-1)	1,479 (+0%)	7mo	$220,000	$149	76
4516 Fillmore St	0.13mi	4/2.0	1,506 (+2%)	19mo	$172,000	$114	74
4607 Polk St	0.22mi	3/1.0 (-1)	1,435 (-3%)	5mo	$240,000	$167	72
4205 Polk St	0.21mi	3/1.0 (-1)	1,466 (-1%)	14mo	$165,000	$113	69
4325 Central St	0.16mi	4/1.5	1,328 (-10%)	12mo	$184,000	$139	63
4120 Van Buren St	0.37mi	4/2.0	1,618 (+10%)	6mo	$185,500	$115	62
4540 Garfield St	0.29mi	3/1.0 (-1)	1,451 (-2%)	17mo	$214,200	$148	60
4027 Van Buren St	0.48mi	3/1.5 (-1)	1,512 (+2%)	8mo	$174,000	$115	60
4509 Floyd Blvd	0.27mi	3/2.0 (-1)	1,636 (+11%)	8mo	$180,000	$110	58
3521 42nd St	0.40mi	4/2.0	1,675 (+14%)	9mo	$208,000	$124	52
4008 Madison St	0.53mi	3/2.0 (-1)	1,539 (+4%)	22mo	$175,000	$114	45
4604 Tyler St	0.22mi	3/1.2 (-1)	1,323 (-10%)	22mo	$220,000	$166	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-22,680
• Equity at exit: $22,365

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-17,648
• Equity at exit: $12,969

Cash invested: $42,000 (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 51108

• Home prices YoY: -10.9%
• Active inventory: 27
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,309 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$160 /mo · $1,914/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $25

Break-even live

Break-even rent $1,277

Max offer price $150,000

Occupancy floor 93%

Sensitivity live

Price	-10% $110	-5% $68	+0% $25	+5% $-17	+10% $-59
Rent	-10% $-78	-5% $-26	+0% $25	+5% $77	+10% $129
Rate	-1.0pp $101	-0.5pp $64	base $25	+0.5pp $-13	+1.0pp $-53

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3290 Martha St Sioux City, IA	2.0–3.0	1.0–2.0	1000	$1,309	$1.31	44d	1	1.46mi

Listing history 3 events

1. 2026-04-27
   price $150,000 690-char remark

   Show marketing remark (690 chars)

   Sitting on 2 flat lots in Leeds is this charming bungalow home with 4 bedrooms and 2 bathrooms and lots of character. There is no garage but there is alley access to the back yard. A welcoming front porch brings you in to the living room with carpet and a ceiling fan. At the back of the home is an eat in kitchen with white cabinets and stove and frig are included. Access to upstairs and downstairs from here. There are 2 bedrooms on the main floor each with a single closet and a full bathroom in between the bedrooms. Upstairs are 2 generous bedrooms each with a double closet and a 3/4 bathroom and a hall that could be used for storage. The basement has shelf walls and is unfinished.

2. 2026-03-18
   price $180,000 690-char remark

   Show marketing remark (690 chars)

   Sitting on 2 flat lots in Leeds is this charming bungalow home with 4 bedrooms and 2 bathrooms and lots of character. There is no garage but there is alley access to the back yard. A welcoming front porch brings you in to the living room with carpet and a ceiling fan. At the back of the home is an eat in kitchen with white cabinets and stove and frig are included. Access to upstairs and downstairs from here. There are 2 bedrooms on the main floor each with a single closet and a full bathroom in between the bedrooms. Upstairs are 2 generous bedrooms each with a double closet and a 3/4 bathroom and a hall that could be used for storage. The basement has shelf walls and is unfinished.

3. 2026-01-21
   listed $200,000 Active 690-char remark

   Show marketing remark (690 chars)

   Sitting on 2 flat lots in Leeds is this charming bungalow home with 4 bedrooms and 2 bathrooms and lots of character. There is no garage but there is alley access to the back yard. A welcoming front porch brings you in to the living room with carpet and a ceiling fan. At the back of the home is an eat in kitchen with white cabinets and stove and frig are included. Access to upstairs and downstairs from here. There are 2 bedrooms on the main floor each with a single closet and a full bathroom in between the bedrooms. Upstairs are 2 generous bedrooms each with a double closet and a 3/4 bathroom and a hall that could be used for storage. The basement has shelf walls and is unfinished.

ⓘ 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: $1,914 · $160/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$220/yr (+$18/mo · 11.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $15,708
• − Mortgage interest: −$8,402
• − Property taxes: −$1,914
• − Insurance: −$750
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$4,364
• Taxable loss: −$2,235
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $842/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 5,637

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 17% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 7% Portuguese 4% Iranian 4%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.56%
• Current HPI: 273.2998
• Rent YoY: —
• Metro: —
• 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

-25.0% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $150,000 NWIA
• 2026-03-18 Price Changed $180,000 NWIA
• 2026-01-21 Listed $200,000 NWIA

Property tax history

+3.4%/yr

Latest (2025): $1,914 · +4.0% YoY. Source: county tax records.