814 Benton Dr #34 · Iowa City, IA 52246

$103,000

2 bd · 1.0 ba · 767 sqft · Condo public records · 128 Days on market

Built 1983 $134/sqft · at area comps Est $102k · at est. $135/mo HOA · 12% of rent

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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).

• Cash flow +16.0/30.0
• ARV discount +7.0/15.0
• 1% rule +6.2/10.0
• Schools +5.7/10.0
• DSCR +4.9/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

Key facts

• Wooded views
• $135 HOA
• Parking

Tags

• WOODED VIEWS
• NEW KITCHEN APPLIANCES
• IN UNIT WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $103k.

Deal economics

• At list price, monthly cash flow is $51 ($613/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $91k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.
• Market conditions: Rents rising fast (+4.9%/yr); 207 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k 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 128 days — a 12% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $66k; list at $103k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $90,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.12% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 7.5

CMA / ARV

• ARV (median comp): $101,762
• List price: $103,000
• Delta: 1.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-11,043
• Equity at exit: $15,358

10-year hold

• IRR: 2.1%
• Equity multiple: 1.17×
• Total profit: $4,779
• Equity at exit: $8,906

Cash invested: $28,840 (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 52246

• Rents YoY: 4.9%
• Active inventory: 207
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$540
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$43
• HOA: −$135
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $51

Break-even live

Break-even rent $1,086

Max offer price $103,000

Occupancy floor 91%

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
920 Benton Dr Unit 908-13 Iowa City, IA	2.0	1.0	767	$845	$1.10	44d	1	0.05mi
700 Carriage Hl Iowa City, IA	2.0	1.0	750	$1,150	$1.53	13d	1	0.21mi
1014 Oakcrest St Unit 2 Iowa City, IA	2.0	1.0	900	$1,050	$1.17	44d	1	0.28mi
727 Michael St Unit 731-1 Iowa City, IA	2.0	1.0	795	$875	$1.10	44d	1	0.31mi
707 Oakcrest St Iowa City, IA	2.0	1.0	750	$1,125	$1.50	44d	1	0.32mi
205 Woodside Dr Iowa City, IA	2.0	2.0	1100	$1,800	$1.64	44d	1	0.40mi
100 Grandview Ct #104 Iowa City, IA	1.0	1.0	611	$1,200	$1.96	21d	1	0.41mi
740 1/2 Sunset St Unit 740 Iowa City, IA	2.0	1.0	768	$1,050	$1.37	44d	1	0.45mi
300 Grandview Ct #313 Iowa City, IA	2.0	1.0	628	$1,300	$2.07	21d	1	0.47mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1010	$1,237	$1.22	44d	2	0.57mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1040	$1,650	$1.59	21d	1	0.57mi
1165 S Riverside Dr Iowa City, IA	2.0	1.0	500	$1,375	$2.75	13d	6	0.60mi
1447 Aber Ave Apt 4 Iowa City, IA	2.0	1.0	825	$900	$1.09	21d	1	0.67mi
316 S Madison St Iowa City, IA	1.0–2.0	1.0–2.0	673	$2,300	$3.42	44d	1	0.92mi
30 Lincoln Ave Iowa City, IA	2.0–3.0	1.0–2.0	853	$1,295	$1.52	21d	3	1.06mi
34 Lincoln Ave Iowa City, IA	3.0	1.0	800	$1,340	$1.68	44d	2	1.07mi
302 Finkbine Ln Iowa City, IA	1.0–2.0	1.0	765	$955	$1.25	13d	3	1.19mi
413 S Johnson St Iowa City, IA	2.0	1.0	700	$1,200	$1.71	21d	1	1.31mi
426 S Johnson St Iowa City, IA	3.0	2.0	1000	$1,350	$1.35	44d	1	1.35mi
740 Westwinds Dr #6 Iowa City, IA	2.0	1.0	900	$1,125	$1.25	44d	1	1.40mi
2001 Keokuk St Iowa City, IA	2.0	2.0	870	$1,200	$1.38	13d	1	1.42mi
2639 Westwinds Dr #1 Iowa City, IA	1.0	1.0	532	$900	$1.69	44d	1	1.44mi

HOA detail condo

• Monthly dues: $135 · $1,620/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-19
   days on market $103,000 Active 128 DOM
2. 2026-06-18
   days on market $103,000 Active 127 DOM
3. 2026-06-17
   days on market $103,000 Active 126 DOM
4. 2026-06-16
   days on market $103,000 Active 125 DOM
5. 2026-06-15
   days on market $103,000 Active 124 DOM
6. 2026-06-14
   days on market $103,000 Active 122 DOM
7. 2026-06-13
   days on market $103,000 Active 121 DOM
8. 2026-06-10
   days on market $103,000 Active 119 DOM
9. 2026-06-09
   days on market $103,000 Active 118 DOM
10. 2026-06-08
    days on market $103,000 Active 117 DOM
11. 2026-06-07
    days on market $103,000 Active 116 DOM
12. 2026-06-05
    days on market $103,000 Active 113 DOM
13. 2026-06-03
    days on market $103,000 Active 112 DOM
14. 2026-06-02
    days on marketlisting id $103,000 Active 111 DOM
15. 2026-06-01
    days on market $103,000 Active 110 DOM
16. 2026-05-31
    days on market $103,000 Active 109 DOM
17. 2026-05-30
    days on market $103,000 Active 108 DOM
18. 2026-02-17
    price $103,000 336-char remark

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

19. 2026-02-17
    price $103,000 336-char remark

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

20. 2026-02-17
    price $103,000

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

21. 2026-02-11
    listed $108,000 Active 336-char remark

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

22. 2026-02-11
    listed $108,000 Active

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

23. 2026-02-11
    listed $108,000 Active 336-char remark

    Show marketing remark (336 chars)

    Investment or owner-occupant opportunity! First photo is virtually staged. Top-floor condo with wooded views offering 2 bedrooms and 1 full bath. Features include all new kitchen appliances, a new A/C wall unit, and in-unit washer and dryer that stay. Move-in ready and low maintenance—perfect for easy living or rental potential.

24. 2010-12-01
    soldstatus $66,000

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $1,676 · $140/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $13,804
• − Mortgage interest: −$5,770
• − Property taxes: −$1,676
• − Insurance: −$515
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − HOA: −$1,620
• − Depreciation: −$2,996
• Taxable loss: −$981
• Est. tax savings @ 24.0%: +$236
• After-tax cash flow: $848/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): 22,308
• Household income: $62,521
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1680.0

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 (65%)
• Race & ethnicity: White 65% Black 12% Asian 11% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Swedish 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 73% English-only · Spanish 6% Arabic 5% Chinese 4%

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: ▼ -151.08%
• Current HPI: 159.5713
• Rent YoY: ▲ 4.94%
• 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

+56.1% since first listed

7 events — show timeline

• 2026-02-17 Price Changed $103,000 CRAAR, CDRMLS
• 2026-02-17 Price Changed $103,000 ICAARMLS
• 2026-02-17 Price Changed $103,000 ICAARMLS
• 2026-02-11 Listed $108,000 CRAAR, CDRMLS
• 2026-02-11 Listed $108,000 ICAARMLS
• 2026-02-11 Listed $108,000 ICAARMLS
• 2010-12-01 Sold (Public Records) $66,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,676 · +1.3% YoY. Source: county tax records.