3121 Gilbertville Rd · Evansdale, IA 50707

$85,000

2 bd · 1.0 ba · 572 sqft · SingleFamily public records · 114 Days on market

Built 1953 0.49 ac lot Est $75k · 13% over

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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).

• Cash flow +22.6/30.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is a fantastic investment opportunity or an ideal choice for those seeking a simpler lifestyle with ample outdoor space. The house features two bedrooms, a bathroom, and a spacious kitchen. And comes with a single detached garage. Moreover, the property comes with additional parcels of land, increasing its overall value and potential. Schedule your showing today!

Key facts

• Half acre
• Spacious lot
• 0.49 acre lot

Tags

• SPACIOUS LOT
• HALF ACRE

Property features AI

Exterior

• Parking: Has carport (1 space)
• Utilities: Shared well water; Septic tank sewer
• Home design: Single-family residential
• Construction: Vinyl siding; Shingle/asphalt roof
• Exterior features: Concrete road access; Additional parcel(s) included; Zoned R-S

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: No fireplace; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($858 rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.9% in Evansdale — 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 67/100 on livability (#487 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Waterloo Community School District (urban): math 50% / reading 54% proficiency, ranked #276 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Poyner Elementary (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 362 students, 69% FRL); Bunger Middle School (math 48% / reading 47%, grade C-, #226 of 246 statewide, top 92%, 431 students, 75% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL).
• Market conditions: 64 active listings in the ZIP; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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?
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: 1.01% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $74,932
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3121 Gilbertville Rd	0.00mi	2/1.0	572 (0%)	1mo	$75,000	$131	99

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-4,587
• Equity at exit: $12,674

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $7,779
• Equity at exit: $7,349

Cash invested: $23,800 (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 50707

• Active inventory: 64
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $858 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $145

Break-even live

Break-even rent $675

Max offer price $85,000

Occupancy floor 78%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-25
   status Pending
2. 2026-01-22
   price $85,000
3. 2025-12-30
   listed $89,900 Active
4. 2024-04-24
   soldstatus $77,000
5. 2024-04-19
   soldstatus $77,000 Closed 379-char remark

   Show marketing remark (379 chars)

   This property is a fantastic investment opportunity or an ideal choice for those seeking a simpler lifestyle with ample outdoor space. The house features two bedrooms, a bathroom, and a spacious kitchen. And comes with a single detached garage. Moreover, the property comes with additional parcels of land, increasing its overall value and potential. Schedule your showing today!

6. 2024-03-16
   status Pending 379-char remark

   Show marketing remark (379 chars)

   This property is a fantastic investment opportunity or an ideal choice for those seeking a simpler lifestyle with ample outdoor space. The house features two bedrooms, a bathroom, and a spacious kitchen. And comes with a single detached garage. Moreover, the property comes with additional parcels of land, increasing its overall value and potential. Schedule your showing today!

7. 2024-02-27
   price $90,900 379-char remark

   Show marketing remark (379 chars)

   This property is a fantastic investment opportunity or an ideal choice for those seeking a simpler lifestyle with ample outdoor space. The house features two bedrooms, a bathroom, and a spacious kitchen. And comes with a single detached garage. Moreover, the property comes with additional parcels of land, increasing its overall value and potential. Schedule your showing today!

8. 2024-02-15
   listed $101,900 Active 379-char remark

   Show marketing remark (379 chars)

   This property is a fantastic investment opportunity or an ideal choice for those seeking a simpler lifestyle with ample outdoor space. The house features two bedrooms, a bathroom, and a spacious kitchen. And comes with a single detached garage. Moreover, the property comes with additional parcels of land, increasing its overall value and potential. Schedule your showing today!

9. 2017-08-21
   soldstatus $58,000
10. 2017-07-28
    soldstatus $58,000 343-char remark

    Show marketing remark (343 chars)

    Great property with an updated home and plenty of yard! Great investment or perfect for the 'simple life'. This home feels brand new with all the updates including the kitchen and awesome bath with a tile shower! Fresh paint, carpet, newer windows, brand new electric, single detached garage. There are two parcels including in this listing.

11. 2017-05-10
    listed $59,900 343-char remark

    Show marketing remark (343 chars)

    Great property with an updated home and plenty of yard! Great investment or perfect for the 'simple life'. This home feels brand new with all the updates including the kitchen and awesome bath with a tile shower! Fresh paint, carpet, newer windows, brand new electric, single detached garage. There are two parcels including in this listing.

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $978 · $82/mo
• Expected delta: +$356/yr (+$30/mo · 57.3%)

ⓘ 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 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,292
• − Mortgage interest: −$4,761
• − Property taxes: −$622
• − Insurance: −$425
• − Repairs & maintenance: −$823
• − Management: −$823
• − Depreciation: −$2,473
• Taxable income: $364
• Est. tax owed @ 24.0%: −$87
• After-tax cash flow: $1,647/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: Waterloo Community School District
• NCES district ID: 1930480
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $42,545
• Composite: 43.72/100
• National rank: #2950
• State rank: #276 of 289 in IA

Livability — Evansdale

• Score: 67/100
• State rank: #487
• US rank: #10824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,407
• Population (ZIP): 7,407

Population outlook (Black Hawk County) Hauer SSP2

• Today (2025): 139,716 people
• By 2030: 142,853 · +2.2%
• By 2040: 147,843 · +5.8%
• By 2050: 153,247 · +9.7%
• By 2075: 167,977 · +20.2%
• By 2100: 177,320 · +26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 8% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Iranian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Black Hawk

• 2024 margin: Toss-up / Even · D 50.0% · R 48.8% · Other 1.2%
• 2008→2024 swing: -21.3pp toward R · 2008: 22.4pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+9.0 2016: D+7.3 2012: D+20.0 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.77%
• Current HPI: 178.5926
• 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

+41.9% since first listed

11 events — show timeline

• 2026-04-25 Pending — NEIRBR as distributed by MLS GRID
• 2026-01-22 Price Changed $85,000 NEIRBR as distributed by MLS GRID
• 2025-12-30 Listed $89,900 NEIRBR as distributed by MLS GRID
• 2024-04-24 Sold (Public Records) $77,000 Public Records
• 2024-04-19 Sold (MLS) $77,000 NEIRBR as distributed by MLS GRID
• 2024-03-16 Pending — NEIRBR as distributed by MLS GRID
• 2024-02-27 Price Changed $90,900 NEIRBR as distributed by MLS GRID
• 2024-02-15 Listed $101,900 NEIRBR as distributed by MLS GRID
• 2017-08-21 Sold (Public Records) $58,000 Public Records
• 2017-07-28 Sold (MLS) $58,000 NEIRBR as distributed by MLS GRID
• 2017-05-10 Listed $59,900 NEIRBR as distributed by MLS GRID

Property tax history

-1.2%/yr

Latest (2025): $622 · +13.5% YoY. Source: county tax records.