236 Kenneth Dr · Iowa City, IA 52245

$369,900

4 bd · 3.0 ba · 2,334 sqft · Other · 24 Days on market

Built 2019 6,720 sqft lot $158/sqft · 14% below area Est $431k · 14% under

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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).

• ARV discount +13.9/15.0
• Cash flow +6.7/30.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 bedroom 3 bath ranch in the new Lindemann Part 8 subdivision in East Iowa City. Large open living area, light filled family room, cooks kitchen with lots of counter space. Master suite with trey ceiling. Main floor laundry. Finished lower level with lots of storage. August 1st Possession.

Key facts

• Pantry
• Quartz countertops
• Lvp flooring

Tags

• SOARING 11 FT VAULTED CEILINGS
• LVP FLOORING
• QUARTZ COUNTERTOPS
• BREAKFAST BAR
• CREME PAINTED CABINETRY
• PANTRY

Property features AI

Finance

• Other: Lot dimensions approximately 56 x 120; Residential zoning; Subdivision: Lindemann Subdivision
• HOA & community: Homeowners association with annual fee

Exterior

• Parking: Attached garage; 2 parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story; Built by Allen Homes Inc.; Frame construction with vinyl siding
• Construction: Vinyl siding; Frame construction; Finished full daylight basement with concrete foundation and sump pump
• Exterior features: Deck; Porch; Sidewalks; Street lights

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Breakfast bar; Pantry
• Bedrooms: Master downstairs
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning; Electric and natural gas heating with forced air
• Interior features: High ceilings; Entrance foyer; Vaulted ceilings; Breakfast bar; Pantry; Master bedroom on main level; Double-pane windows; Smoke detectors; Contaminant control for improved indoor air quality
• Laundry & utility: Laundry on main level and lower level; Laundry closet; Finished daylight basement with concrete floor and sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $370k.

Deal economics

• At list price, monthly cash flow is $-596 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (29.2% below list).
• Recommended offer: $262k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.7% in Iowa 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• 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: Herbert Hoover Elementary School (math 57% / reading 61%, grade B-, #428 of 616 statewide, top 70%, 504 students, 48% FRL); Southeast Junior High School (math 64% / reading 68%, grade A-, #152 of 246 statewide, top 62%, 812 students, 50% FRL); Iowa City High School (math 62% / reading 73%, grade B, #186 of 336 statewide, top 57%, 1,599 students, 40% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent runs 40% of the median local income ($78k/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 $3k of loan paydown is wiped out by about $11k 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

• It's been on market 24 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $320k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $261,992 (29.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.71% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.91%
• DSCR: 0.69
• GRM: 11.8

CMA / ARV

• ARV (median comp): $431,165
• List price: $369,900
• Delta: -11.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: -24.8%
• Equity multiple: 0.13×
• Total profit: $-89,731
• Equity at exit: $55,153

10-year hold

• IRR: -13.4%
• Equity multiple: 0.12×
• Total profit: $-91,420
• Equity at exit: $31,982

Cash invested: $103,572 (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 52245

• Rents YoY: 6.0%
• Active inventory: 206
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,620 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$572 /mo · $6,862/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $-596

Break-even live

Break-even rent $3,374

Max offer price $264,612

Occupancy floor —

Sensitivity live

Price	-10% $-387	-5% $-491	+0% $-596	+5% $-701	+10% $-805
Rent	-10% $-803	-5% $-699	+0% $-596	+5% $-493	+10% $-389
Rate	-1.0pp $-410	-0.5pp $-502	base $-596	+0.5pp $-692	+1.0pp $-789

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Camden Rd Unit NA Iowa City, IA	5.0	3.0	2486	$3,000	$1.21	45d	1	0.22mi
3432 Eastbrook St Iowa City, IA	3.0	2.0–2.5	1874	$2,000	$1.07	15d	1	1.00mi

Listing history 29 events

1. 2026-06-22
   days on market $369,900 Active 24 DOM
2. 2026-06-19
   days on market $369,900 Active 22 DOM
3. 2026-06-18
   days on market $369,900 Active 21 DOM
4. 2026-06-17
   days on market $369,900 Active 20 DOM
5. 2026-06-16
   days on market $369,900 Active 19 DOM
6. 2026-06-15
   days on market $369,900 Active 18 DOM
7. 2026-06-14
   days on market $369,900 Active 16 DOM
8. 2026-06-13
   days on market $369,900 Active 15 DOM
9. 2026-06-10
   days on market $369,900 Active 13 DOM
10. 2026-06-09
    days on market $369,900 Active 12 DOM
11. 2026-06-08
    days on market $369,900 Active 11 DOM
12. 2026-06-07
    days on market $369,900 Active 10 DOM
13. 2026-06-05
    days on market $369,900 Active 7 DOM
14. 2026-06-03
    days on market $369,900 Active 6 DOM
15. 2026-06-02
    days on market $369,900 Active 5 DOM
16. 2026-06-01
    days on market $369,900 Active 4 DOM
17. 2026-05-31
    days on market $369,900 Active 3 DOM
18. 2026-05-30
    days on market $369,900 Active 2 DOM
19. 2026-05-01
    price $379,900 820-char remark
20. 2026-04-16
    price $389,900 820-char remark
21. 2026-03-12
    listed $397,500 Active 820-char remark
22. 2024-04-05
    price $320,000 300-char remark

    Show marketing remark (300 chars)

    Spacious 4 bedroom 3 bath ranch in the new Lindemann Part 8 subdivision in East Iowa City. Large open living area, light filled family room, cooks kitchen with lots of counter space. Master suite with trey ceiling. Main floor laundry. Finished lower level with lots of storage. August 1st Possession.

23. 2021-08-05
    soldstatus $320,000
24. 2021-08-02
    soldstatus $320,000 300-char remark

    Show marketing remark (300 chars)

    Spacious 4 bedroom 3 bath ranch in the new Lindemann Part 8 subdivision in East Iowa City. Large open living area, light filled family room, cooks kitchen with lots of counter space. Master suite with trey ceiling. Main floor laundry. Finished lower level with lots of storage. August 1st Possession.

25. 2021-07-15
    price $329,900 300-char remark

    Show marketing remark (300 chars)

    Spacious 4 bedroom 3 bath ranch in the new Lindemann Part 8 subdivision in East Iowa City. Large open living area, light filled family room, cooks kitchen with lots of counter space. Master suite with trey ceiling. Main floor laundry. Finished lower level with lots of storage. August 1st Possession.

26. 2021-04-14
    listed $329,900 300-char remark

    Show marketing remark (300 chars)

    Spacious 4 bedroom 3 bath ranch in the new Lindemann Part 8 subdivision in East Iowa City. Large open living area, light filled family room, cooks kitchen with lots of counter space. Master suite with trey ceiling. Main floor laundry. Finished lower level with lots of storage. August 1st Possession.

27. 2020-07-31
    soldstatus $324,900
28. 2020-03-03
    listed $324,900
29. 2019-11-26
    listed $335,000

ⓘ 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: $6,862 · $572/mo
• Projected year-2 tax: $6,862 · $572/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 (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: $31,439
• − Mortgage interest: −$20,720
• − Property taxes: −$6,862
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,515
• − Management: −$2,515
• − Depreciation: −$10,761
• Taxable loss: −$13,783
• Est. tax savings @ 24.0%: +$3,308
• After-tax cash flow: $-3,844/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 — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,853
• Household income: $78,020
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1268.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 4% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Chinese 1% Other Indo-European 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: ▼ -205.41%
• Current HPI: 164.751
• Rent YoY: ▲ 5.97%
• 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

+10.4% since first listed

12 events — show timeline

• 2026-05-28 Listed $369,900 ICAARMLS
• 2026-05-01 Price Changed $379,900 ICAARMLS
• 2026-04-16 Price Changed $389,900 ICAARMLS
• 2026-03-12 Listed $397,500 ICAARMLS
• 2024-04-05 Price Changed $320,000 ICAARMLS
• 2021-08-05 Sold (Public Records) $320,000 Public Records
• 2021-08-02 Sold (MLS) $320,000 ICAARMLS
• 2021-07-15 Price Changed $329,900 ICAARMLS
• 2021-04-14 Listed $329,900 ICAARMLS
• 2020-07-31 Sold (MLS) $324,900 ICAARMLS
• 2020-03-03 Listed $324,900 ICAARMLS
• 2019-11-26 Listed $335,000 ICAARMLS

Property tax history

+95.7%/yr

Latest (2025): $6,862 · +1.3% YoY. Source: county tax records.