1512 1st Ave Unit 103B · Coralville, IA 52241

$175,000

2 bd · 2.0 ba · 1,102 sqft · Condo public records · 21 Days on market

Built 1977 $320/mo HOA · 18% of rent

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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 +8.9/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.1/10.0
• Livability +4.5/5.0
• Rent growth +4.0/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quiet, private, ground floor 2 Bed, 2 Bath Condo on Brown Deer Golf Course. Convenient location to shopping, I-80, CR airport, U of I and Mercy Hospitals. Unit offers indoor pool and Community Room for family gatherings. Property being sold "As Is" condition.

Key facts

• $320 HOA
• Garage
• Pool

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $3,840 (equivalent to $320/month); HOA covers trash and structure maintenance; Community includes golf amenities

Exterior

• Parking: Attached garage (1 parking space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Common-interest condominium
• Construction: Vinyl siding, brick, and frame construction; Slab foundation
• Exterior features: Patio; Outdoor pool; Located on a golf course

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Electric heating; Floor furnace; Forced air heating; One wood-burning fireplace in family room
• Interior features: Master bedroom on main level; Other interior features
• Laundry & utility: Washer and dryer; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (14.1% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $150k (14.1% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 2.1% in Coralville — 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 90/100 on livability (#5 in IA, #89 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-.
• 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: Wickham Elementary (math 92% / reading 85%, grade A+, #12 of 616 statewide, top 2%, 383 students, 13% FRL); Northwest Junior High School (math 64% / reading 71%, grade A-, #133 of 246 statewide, top 56%, 730 students, 43% FRL); West Senior High School (math 71% / reading 77%, grade B+, #103 of 336 statewide, top 32%, 1,503 students, 38% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 374 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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 $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

• It's been on market 21 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 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 $150k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $150,267 (14.1% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.36×
• Total profit: $-31,301
• Equity at exit: $26,093

10-year hold

• IRR: -3.3%
• Equity multiple: 0.74×
• Total profit: $-12,661
• Equity at exit: $15,131

Cash invested: $49,000 (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 52241

• Rents YoY: 6.1%
• Active inventory: 374
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,764 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$223 /mo · $2,675/yr
• Insurance: −$73
• HOA: −$320
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-140

Break-even live

Break-even rent $1,941

Max offer price $150,267

Occupancy floor —

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Russell Slade Blvd Coralville, IA	2.0	2.0	1241	$2,250	$1.81	13d	1	0.44mi
2010 10th St #8 Coralville, IA	3.0	1.5	1320	$1,650	$1.25	20d	1	1.37mi
1650 Foster Rd Iowa City, IA	2.0	2.0	1260	$1,700	$1.35	20d	1	1.37mi
2010 10th St Coralville, IA	3.0	1.5	1320	$1,650	$1.25	13d	1	1.37mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-19
   days on market $175,000 Active 21 DOM
2. 2026-06-18
   days on market $175,000 Active 20 DOM
3. 2026-06-17
   days on market $175,000 Active 19 DOM
4. 2026-06-16
   days on market $175,000 Active 18 DOM
5. 2026-06-15
   days on market $175,000 Active 17 DOM
6. 2026-06-14
   days on market $175,000 Active 15 DOM
7. 2026-06-13
   days on market $175,000 Active 14 DOM
8. 2026-06-10
   days on market $175,000 Active 12 DOM
9. 2026-06-09
   days on market $175,000 Active 11 DOM
10. 2026-06-08
    days on market $175,000 Active 10 DOM
11. 2026-06-07
    days on market $175,000 Active 9 DOM
12. 2026-06-05
    days on market $175,000 Active 6 DOM
13. 2026-06-03
    days on market $175,000 Active 5 DOM
14. 2026-06-02
    days on market $175,000 Active 4 DOM
15. 2026-06-01
    days on market $175,000 Active 3 DOM
16. 2026-05-31
    days on market $175,000 Active 2 DOM
17. 2026-05-29
    listed $175,000 Active
18. 2024-04-05
    price $117,000 269-char remark

    Show marketing remark (269 chars)

    Quiet, private, ground floor 2 Bed, 2 Bath Condo on Brown Deer Golf Course. Convenient location to shopping, I-80, CR airport, U of I and Mercy Hospitals. Unit offers indoor pool and Community Room for family gatherings. Property being sold "As Is" condition.

19. 2023-06-02
    soldstatus $150,000
20. 2020-12-30
    soldstatus $117,000 269-char remark

    Show marketing remark (269 chars)

    Quiet, private, ground floor 2 Bed, 2 Bath Condo on Brown Deer Golf Course. Convenient location to shopping, I-80, CR airport, U of I and Mercy Hospitals. Unit offers indoor pool and Community Room for family gatherings. Property being sold "As Is" condition.

21. 2020-12-21
    price $119,900 269-char remark

    Show marketing remark (269 chars)

    Quiet, private, ground floor 2 Bed, 2 Bath Condo on Brown Deer Golf Course. Convenient location to shopping, I-80, CR airport, U of I and Mercy Hospitals. Unit offers indoor pool and Community Room for family gatherings. Property being sold "As Is" condition.

22. 2020-11-18
    listed $119,900 269-char remark

    Show marketing remark (269 chars)

    Quiet, private, ground floor 2 Bed, 2 Bath Condo on Brown Deer Golf Course. Convenient location to shopping, I-80, CR airport, U of I and Mercy Hospitals. Unit offers indoor pool and Community Room for family gatherings. Property being sold "As Is" condition.

23. 2020-03-12
    listed $144,500
24. 2019-07-10
    listed $139,500

ⓘ 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: $2,675 · $223/mo
• Projected year-2 tax: $2,711 · $226/mo
• Expected delta: +$36/yr (+$3/mo · 1.4%)

ⓘ 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 3/10 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: $21,167
• − Mortgage interest: −$9,803
• − Property taxes: −$2,675
• − Insurance: −$875
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − HOA: −$3,840
• − Depreciation: −$5,091
• Taxable loss: −$4,503
• Est. tax savings @ 24.0%: +$1,081
• After-tax cash flow: $-599/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 — Coralville

• Score: 90/100
• State rank: #5
• US rank: #89

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coralville, IA
• County: Johnson County · 132,710 people
• City population: 23,250
• Metro: Iowa City, IA
• Population (ZIP): 23,250
• Household income: $69,243
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1220.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Black 15% Asian 10% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Ukrainian 3% Slovak 2%
• Foreign-born: 16% · China, Canada, South Korea
• Languages at home: 78% English-only · Chinese 4% Spanish 4% Other Indo-European 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: ▼ -95.15%
• Current HPI: 154.7424
• Rent YoY: ▲ 6.14%
• 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

+25.4% since first listed

8 events — show timeline

• 2026-05-29 Listed $175,000 ICAARMLS
• 2024-04-05 Price Changed $117,000 ICAARMLS
• 2023-06-02 Sold (Public Records) $150,000 Public Records
• 2020-12-30 Sold (MLS) $117,000 ICAARMLS
• 2020-12-21 Price Changed $119,900 ICAARMLS
• 2020-11-18 Listed $119,900 ICAARMLS
• 2020-03-12 Listed $144,500 ICAARMLS
• 2019-07-10 Listed $139,500 ICAARMLS

Property tax history

+3.5%/yr

Latest (2025): $2,675 · +8.4% YoY. Source: county tax records.