119 E Ridgeview Dr · Cherokee, IA 51012

$138,500

4 bd · 2.5 ba · 1,506 sqft · SingleFamily public records · 5 Days on market

Built 1963 7,425 sqft lot $92/sqft · 15% above area Est $192k · 28% under ↓ 31% since listing

---

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 +15.0/15.0
• Cash flow +9.2/30.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 119 Ridgeview Dr in Cherokee—a ranch-style home offering over 2,000 square feet of finished living space and a fantastic opportunity to build equity through your own personal updates. Situated on the desirable north end of Cherokee, this property provides convenient access to the hospital, wellness center, shopping, and dining, making everyday living both comfortable and efficient. The main floor features a bright and inviting layout with a spacious living area and a large family room addition complete with a cozy gas fireplace. The kitchen showcases quality original cabinetry that has been well cared for, offering a solid foundation for future enhancements. Three bedrooms,

Key facts

• Cozy gas fireplace
• Ranch style home
• 7,425 sq ft lot

Tags

• RANCH STYLE HOME
• BRIGHT AND INVITING LAYOUT
• LARGE FAMILY ROOM ADDITION
• COZY GAS FIREPLACE
• QUALITY ORIGINAL CABINETRY
• FUNCTIONAL MAIN LEVEL LIVING

Property features AI

Exterior

• Parking: Attached garage with automatic door; 2 garage spaces; Concrete driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residential home; Wood siding; Shingle roof
• Construction: Wood siding construction; Below-grade finished area (basement) approximately 900
• Exterior features: Patio; In-ground pool; Shed(s) and workshop

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Gas fireplace (one); Full, partially finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (24.2% below list).
• Recommended offer: $105k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#83 in IA, #1,698 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cherokee Community School District (town): math 65% / reading 67% proficiency, ranked #191 of 289 in IA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cherokee Elementary School (math 57% / reading 52%, grade C, #462 of 616 statewide, top 79%, 492 students, 43% FRL); Cherokee Middle School (math 65% / reading 64%, grade A-, #157 of 246 statewide, top 67%, 355 students, 42% FRL); Washington High School (math 69% / reading 81%, grade A-, #86 of 336 statewide, top 26%, 353 students, 33% FRL).
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $958 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cherokee County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,000 (24.2% 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. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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: 0.76% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• GRM: 11.0

CMA / ARV

• ARV (median comp): $192,005
• List price: $138,500
• Delta: -27.87%
• 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
6 Sioux Valley Dr	0.10mi	3/1.0 (-1)	1,483 (-2%)	10mo	$120,000	$81	73
767 N 2nd St	0.14mi	4/2.5	1,663 (+10%)	10mo	$120,000	$72	68
1403 Susan Ave	0.42mi	3/2.0 (-1)	1,464 (-3%)	2mo	$140,000	$96	67
1008 N Hughes Ave	0.65mi	3/2.0 (-1)	1,550 (+3%)	6mo	$124,000	$80	53
410 Valley View Dr	0.38mi	3/2.0 (-1)	1,310 (-13%)	1mo	$169,000	$129	52
426 W Cedar St	0.65mi	4/2.0	1,615 (+7%)	4mo	$35,000	$22	52
440 E Spruce St	0.48mi	3/2.0 (-1)	1,597 (+6%)	12mo	$135,000	$85	50
518 E Spruce St	0.55mi	3/2.0 (-1)	1,642 (+9%)	10mo	$205,000	$125	44
442 Dakota Ave	0.47mi	3/1.5 (-1)	1,360 (-10%)	11mo	$31,000	$23	43
544 Park Ave	0.72mi	3/2.0 (-1)	1,620 (+8%)	6mo	$159,250	$98	42
408 Sherman Ave	0.59mi	4/2.0	1,731 (+15%)	6mo	$210,000	$121	40
415 E Cedar St	0.73mi	3/1.5 (-1)	1,292 (-14%)	4mo	$87,500	$68	30

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: -21.7%
• Equity multiple: 0.25×
• Total profit: $-29,098
• Equity at exit: $20,651

10-year hold

• IRR: -15.5%
• Equity multiple: 0.13×
• Total profit: $-33,903
• Equity at exit: $11,975

Cash invested: $38,780 (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 51012

• Home prices YoY: -21.1%
• Active inventory: 44
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$726
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $-105

Break-even live

Break-even rent $1,182

Max offer price $120,037

Occupancy floor —

Sensitivity live

Price	-10% $-26	-5% $-65	+0% $-105	+5% $-144	+10% $-183
Rent	-10% $-187	-5% $-146	+0% $-105	+5% $-63	+10% $-22
Rate	-1.0pp $-35	-0.5pp $-69	base $-105	+0.5pp $-140	+1.0pp $-177

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: $34,625
• Closing costs: $4,155
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 W Cedar St Unit 405 Cherokee, IA	3.0	1.5	1100	$1,050	$0.95	22d	1	0.83mi

Listing history 9 events

1. 2026-05-07
   status Pending 1467-char remark
2. 2026-05-01
   listed $138,500 Active 1467-char remark
3. 2026-04-03
   status Active
4. 2026-03-11
   status Pending
5. 2026-02-05
   status Active
6. 2026-02-02
   status Pending
7. 2026-01-23
   price $138,500
8. 2025-12-02
   price $168,500
9. 2025-10-14
   listed $199,500 Active

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $1,987 · $166/mo
• Expected delta: +$187/yr (+$16/mo · 10.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $12,600
• − Mortgage interest: −$7,758
• − Property taxes: −$1,800
• − Insurance: −$692
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$4,029
• Taxable loss: −$3,696
• Est. tax savings @ 24.0%: +$887
• After-tax cash flow: $-367/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: Cherokee Community School District
• NCES district ID: 1907170
• Math proficiency: 65% ▼ -5.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $45,935
• Composite: 55.66/100
• National rank: #1226
• State rank: #191 of 289 in IA

Livability — Cherokee

• Score: 80/100
• State rank: #83
• US rank: #1698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherokee, IA
• City population: 6,313
• Population (ZIP): 6,313

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 10,631 people
• By 2030: 10,077 · -5.2%
• By 2040: 9,015 · -15.2%
• By 2050: 8,175 · -23.1%
• By 2075: 7,192 · -32.3%
• By 2100: 6,738 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Iranian 3% Slovak 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Asian/Pacific 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+45.8) · D 26.5% · R 72.2% · Other 1.3%
• 2008→2024 swing: -38.2pp toward R · 2008: -7.6pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+39.3 2016: R+40.6 2012: R+16.2 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.34%
• Current HPI: 221.5831
• 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

-30.6% since first listed

9 events — show timeline

• 2026-05-07 Pending — NWIA
• 2026-05-01 Listed $138,500 NWIA
• 2026-04-03 Relisted — NWIA
• 2026-03-11 Pending — NWIA
• 2026-02-05 Relisted — NWIA
• 2026-02-02 Pending — NWIA
• 2026-01-23 Price Changed $138,500 NWIA
• 2025-12-02 Price Changed $168,500 NWIA
• 2025-10-14 Listed $199,500 NWIA

Property tax history

+1.3%/yr

Latest (2025): $1,800 · -6.8% YoY. Source: county tax records.