460 Bradley Pl #9 · North Liberty, IA 52317

$179,900

2 bd · 2.0 ba · 1,020 sqft · Condo public records · 3 Days on market

Built 2005 $140/mo HOA · 9% of rent

---

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 +8.6/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated 2-bedroom, 2-full-bath, 3rd-floor condo in a quiet, well-maintained community, offering comfortable living and thoughtful features throughout. The inviting living room is finished with high-end luxury vinyl plank flooring, a cozy gas fireplace, and access to a spacious balcony—perfect for morning coffee or relaxing at the end of the day. The kitchen includes a new extra-large refrigerator, a newer dishwasher, and a rare walk-in pantry for added storage. The primary suite offers its own private bath, creating a comfortable retreat. A one-car detached garage includes a large storage loft, providing plenty of extra space for seasonal items, bikes, or outdoor gear. Enj

Key facts

• Updated condo
• Spacious balcony
• Gas fireplace

Tags

• UPDATED CONDO
• GAS FIREPLACE
• SPACIOUS BALCONY
• WALK-IN PANTRY
• DETACHED GARAGE
• STORAGE LOFT

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $1,680 (about $140/month); HOA covers trash, grounds maintenance, and structure maintenance

Exterior

• Parking: 1 parking space
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium (residential); Common interest: Condominium
• Construction: Aluminum siding and frame construction; Built by Prime Ventures
• Exterior features: Balcony

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Gas fireplace in living room
• Interior features: Breakfast bar; Balcony
• Laundry & utility: Washer; Dryer; Laundry closet on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (14.6% below list).
• Recommended offer: $153k (15.1% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.1% in North Liberty — 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 85/100 on livability (#18 in IA, #596 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Buford Garner Elementary (math 65% / reading 66%, grade B+, #315 of 616 statewide, top 51%, 453 students, 40% FRL); Northwest Junior High School (math 64% / reading 71%, grade A-, #133 of 246 statewide, top 56%, 730 students, 43% FRL); Liberty High School (math 71% / reading 80%, grade A-, #79 of 336 statewide, top 25%, 1,167 students, 25% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 343 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent is only 17% of the median local income ($105k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $152,686 (15.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.67%
• DSCR: 0.84
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.38×
• Total profit: $-31,393
• Equity at exit: $26,824

10-year hold

• IRR: -1.4%
• Equity multiple: 0.88×
• Total profit: $-5,836
• Equity at exit: $15,554

Cash invested: $50,372 (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 52317

• Home prices YoY: -29.8%
• Rents YoY: 7.6%
• Active inventory: 343
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$209 /mo · $2,506/yr
• Insurance: −$75
• HOA: −$140
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-154

Break-even live

Break-even rent $1,731

Max offer price $152,686

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-103	+0% $-154	+5% $-205	+10% $-256
Rent	-10% $-275	-5% $-215	+0% $-154	+5% $-93	+10% $-33
Rate	-1.0pp $-63	-0.5pp $-108	base $-154	+0.5pp $-201	+1.0pp $-248

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1735 N Jones Blvd North Liberty, IA	2.0	2.0	928	$1,595	$1.72	44d	1	1.14mi
560 Madison Ave North Liberty, IA	1.0–2.0	1.0–2.0	1007	$1,700	$1.69	14d	2	1.17mi
835 Blue Sky Dr #201 North Liberty, IA	2.0	2.0	1025	$1,450	$1.41	44d	1	1.18mi
240 Sadler Ln North Liberty, IA	2.0	2.0	1157	$1,375	$1.19	21d	1	1.50mi

HOA detail condo

• Monthly dues: $140 · $1,680/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-15
   days on market $179,900 Active 3 DOM
2. 2026-06-13
   remarks 693-char remark
3. 2026-06-13
   listed $179,900 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: $2,506 · $209/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$159/yr (+$13/mo · 6.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 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: $18,428
• − Mortgage interest: −$10,077
• − Property taxes: −$2,506
• − Insurance: −$900
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − HOA: −$1,680
• − Depreciation: −$5,233
• Taxable loss: −$4,917
• Est. tax savings @ 24.0%: +$1,180
• After-tax cash flow: $-669/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — North Liberty

• Score: 85/100
• State rank: #18
• US rank: #596

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Liberty, IA
• County: Johnson County · 132,710 people
• City population: 23,097
• Metro: Iowa City, IA
• Population (ZIP): 23,097
• Household income: $105,318
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 432.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Hispanic / Latino 5% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 7% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.37%
• Current HPI: 170.8165
• Rent YoY: ▲ 7.62%
• Metro: Iowa City, 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

• 2026-06-12 Listed $179,900 ICAARMLS

Property tax history

+4.5%/yr

Latest (2025): $2,506 · +2.2% YoY. Source: county tax records.