540 Augusta Cir #9 · North Liberty, IA 52317

$130,000

2 bd · 1.0 ba · 852 sqft · Condo public records · 24 Days on market

Built 1996 $100/mo HOA · 7% 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 +16.8/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.4/10.0
• DSCR +5.2/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming third-floor condo in the heart of North Liberty offering comfort, convenience. This bright and inviting 2-bedroom, 1-bath home features an open-concept layout with large windows that fill the living space with natural light. Just off the living room, enjoy a private screened-in porch, the perfect spot to relax and unwind. The functional floor plan offers comfortable bedrooms, a spacious living area, and easy everyday living. A detached one-car garage provides added convenience and storage. Located within walking distance to shopping, restaurants, parks, and local amenities, this condo is ideal for first-time buyers, commuters, or investors seeking a low-maintenance property in a prime North Liberty location.

Key facts

• Large windows
• Third-floor condo
• Open-concept layout

Tags

• THIRD-FLOOR CONDO
• PRIVATE SCREENED-IN PORCH
• OPEN-CONCEPT LAYOUT
• LARGE WINDOWS
• DETACHED ONE-CAR GARAGE
• WALKING DISTANCE TO SHOPPING

Property features AI

Finance

• Other: Directions: From Hwy 965 west on Fairview Ln, then north on Augusta Circle
• HOA & community: Homeowners association with $1,200 annual fee (about $100/month)

Exterior

• Parking: On-street parking; 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Fairview Condominiums
• Construction: Vinyl siding; Frame construction
• Exterior features: Porch; Screened porch; Sidewalks; Street lights

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Fireplace: Gas fireplace in living room
• Heating & cooling: Forced air heating; Ceiling fan(s)
• Interior features: Breakfast bar; Pantry; Other
• Laundry & utility: Washer; Laundry in kitchen on main level (laundry closet)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $83 ($994/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: Liberty High School (math 71% / reading 80%, grade A-, #79 of 336 statewide, top 25%, 1,167 students, 25% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: Rents rising fast (+7.6%/yr); 343 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 is only 15% 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 $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $100k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.04% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 8.0

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: -6.4%
• Equity multiple: 0.75×
• Total profit: $-9,124
• Equity at exit: $19,383

10-year hold

• IRR: 8.5%
• Equity multiple: 1.79×
• Total profit: $28,907
• Equity at exit: $11,240

Cash invested: $36,400 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$151 /mo · $1,816/yr
• Insurance: −$54
• HOA: −$100
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $83

Break-even live

Break-even rent $1,250

Max offer price $130,000

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Sugar Creek Ln Unit 01 North Liberty, IA	2.0	1.0	675	$995	$1.47	21d	1	0.31mi
835 Blue Sky Dr #201 North Liberty, IA	2.0	2.0	1025	$1,450	$1.41	43d	1	0.44mi

HOA detail condo

• Monthly dues: $100 · $1,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-19
   days on market $130,000 Active 24 DOM
2. 2026-06-18
   days on market $130,000 Active 23 DOM
3. 2026-06-17
   days on market $130,000 Active 22 DOM
4. 2026-06-16
   days on market $130,000 Active 21 DOM
5. 2026-06-15
   days on market $130,000 Active 20 DOM
6. 2026-06-14
   days on market $130,000 Active 18 DOM
7. 2026-06-13
   days on market $130,000 Active 17 DOM
8. 2026-06-10
   days on market $130,000 Active 15 DOM
9. 2026-06-09
   days on market $130,000 Active 14 DOM
10. 2026-06-08
    days on market $130,000 Active 13 DOM
11. 2026-06-07
    days on market $130,000 Active 12 DOM
12. 2026-06-05
    days on market $130,000 Active 9 DOM
13. 2026-06-03
    days on market $130,000 Active 8 DOM
14. 2026-06-02
    days on market $130,000 Active 7 DOM
15. 2026-06-01
    days on market $130,000 Active 6 DOM
16. 2026-05-31
    days on market $130,000 Active 5 DOM
17. 2026-05-30
    days on market $130,000 Active 4 DOM
18. 2026-05-27
    listed $130,000 Active 726-char remark

    Show marketing remark (726 chars)

    Charming third-floor condo in the heart of North Liberty offering comfort, convenience. This bright and inviting 2-bedroom, 1-bath home features an open-concept layout with large windows that fill the living space with natural light. Just off the living room, enjoy a private screened-in porch, the perfect spot to relax and unwind. The functional floor plan offers comfortable bedrooms, a spacious living area, and easy everyday living. A detached one-car garage provides added convenience and storage. Located within walking distance to shopping, restaurants, parks, and local amenities, this condo is ideal for first-time buyers, commuters, or investors seeking a low-maintenance property in a prime North Liberty location.

19. 2026-05-27
    listed $130,000 Active

    Show marketing remark (726 chars)

    Charming third-floor condo in the heart of North Liberty offering comfort, convenience. This bright and inviting 2-bedroom, 1-bath home features an open-concept layout with large windows that fill the living space with natural light. Just off the living room, enjoy a private screened-in porch, the perfect spot to relax and unwind. The functional floor plan offers comfortable bedrooms, a spacious living area, and easy everyday living. A detached one-car garage provides added convenience and storage. Located within walking distance to shopping, restaurants, parks, and local amenities, this condo is ideal for first-time buyers, commuters, or investors seeking a low-maintenance property in a prime North Liberty location.

20. 2018-07-02
    soldstatus $100,000 316-char remark

    Show marketing remark (316 chars)

    This is a great 2 bedroom condo with the perfect amount of space--the open floor plan in the living room and kitchen means you can look out over your covered deck and watch the sunset in the evenings! Spacious bedrooms, a one car garage, and easy access to main commuting routes in North Liberty--it won't last long!

21. 2018-04-30
    listed $100,000 316-char remark

    Show marketing remark (316 chars)

    This is a great 2 bedroom condo with the perfect amount of space--the open floor plan in the living room and kitchen means you can look out over your covered deck and watch the sunset in the evenings! Spacious bedrooms, a one car garage, and easy access to main commuting routes in North Liberty--it won't last long!

22. 2014-09-11
    soldstatus $83,000
23. 2014-09-08
    soldstatus $83,000
24. 2014-07-03
    listed $83,000
25. 2009-11-05
    soldstatus $67,500

ⓘ 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: $1,816 · $151/mo
• Projected year-2 tax: $1,928 · $161/mo
• Expected delta: +$112/yr (+$9/mo · 6.2%)

ⓘ 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: $16,254
• − Mortgage interest: −$7,282
• − Property taxes: −$1,816
• − Insurance: −$650
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − HOA: −$1,200
• − Depreciation: −$3,782
• Taxable loss: −$1,076
• Est. tax savings @ 24.0%: +$258
• After-tax cash flow: $1,252/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

+92.6% since first listed

8 events — show timeline

• 2026-05-27 Listed $130,000 CRAAR, CDRMLS
• 2026-05-27 Listed $130,000 ICAARMLS
• 2018-07-02 Sold (MLS) $100,000 ICAARMLS
• 2018-04-30 Listed $100,000 ICAARMLS
• 2014-09-11 Sold (Public Records) $83,000 Public Records
• 2014-09-08 Sold (MLS) $83,000 ICAARMLS
• 2014-07-03 Listed $83,000 ICAARMLS
• 2009-11-05 Sold (Public Records) $67,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,816 · +2.5% YoY. Source: county tax records.