2351 12th St · Coralville, IA 52241

$180,000

3 bd · 3.0 ba · 1,912 sqft · SingleFamily public records · 27 Days on market

Built 1993 4,080 sqft lot $94/sqft · 22% below area Est $232k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Schools +5.7/10.0
• Livability +4.5/5.0
• 1% rule +4.4/10.0
• DSCR +4.0/10.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 Bedroom, 2.5 Bath, 2 Car Garage Walkout Zero-Lot in Coralville. This home would make a great fixer upper or investment property with some TLC. This property has good bones and is a solid home. It will need new paint and new flooring throughout. At least one Toilet needs replaced and a deep cleaning throughout as it has been vacant for several months. All appliances including washer/dryer remain with the property but all will need cleaned. Galley Kitchen, separate dining area and large Living area with Vaulted Ceilings and a wood fireplace. Small deck extends from Living area Sliding door. Basement includes a good size family area and another bedroom. Walk-out to a back yard with some frui

Key facts

• Large living area
• Back yard
• Galley kitchen

Tags

• GALLEY KITCHEN
• SEPARATE DINING AREA
• LARGE LIVING AREA
• WOOD FIREPLACE
• GOOD SIZE FAMILY AREA
• BACK YARD

Property features AI

Finance

• HOA & community: Annual association fee; Sidewalks and street lights in the community

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential property; Zero-lot line subtype; 2 stories
• Construction: Vinyl siding with frame construction
• Exterior features: Deck; Patio; Fenced yard; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet; Vinyl; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Vaulted ceilings; Wood-burning fireplace in the living room; Finished basement with walk-out access (concrete, full)
• Laundry & utility: Washer and dryer; Laundry room (in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-3 ($-37/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (6.0% below list).
• Recommended offer: $169k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Kirkwood Elementary School (math 27% / reading 37%, grade F, #601 of 616 statewide, top 98%, 269 students, 69% 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 average 50% FRL vs 30% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 374 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 27 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Recommended offer $169,155 (6.0% 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 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 8.9

CMA / ARV

• ARV (median comp): $231,726
• List price: $180,000
• Delta: -22.32%
• 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
1410 Kodiak Ct	0.19mi	3/2.5	1,912 (0%)	5mo	$255,000	$133	85
2231 14th St	0.21mi	3/2.5	1,856 (-3%)	0mo	$270,000	$145	83
1427 Kodiak Ct	0.24mi	3/2.5	1,968 (+3%)	0mo	$262,500	$133	82
1428 Kodiak Ct	0.22mi	3/2.0	1,824 (-5%)	0mo	$258,500	$142	78
1103 22nd Ave	0.27mi	3/2.5	1,747 (-9%)	0mo	$262,000	$150	71
1731 Parkway Dr	0.49mi	3/2.0	1,905 (-0%)	3mo	$300,000	$157	70
2022 Northland Cir	0.49mi	4/3.5 (+1)	1,868 (-2%)	3mo	$290,000	$155	64
1428 Kenai Ct	0.30mi	4/3.0 (+1)	2,096 (+10%)	5mo	$245,000	$117	61
2036 North Ridge Dr	0.73mi	3/2.5	1,858 (-3%)	0mo	$340,000	$183	59
1906 Generry Dr	0.65mi	3/2.5	1,827 (-4%)	4mo	$355,000	$194	57
1455 Ozark Rdg	0.66mi	4/3.5 (+1)	2,022 (+6%)	4mo	$305,000	$151	50
2017 S Ridge Dr	0.73mi	3/1.5	1,660 (-13%)	4mo	$225,000	$136	35

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.53×
• Total profit: $-23,770
• Equity at exit: $26,839

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $3,516
• Equity at exit: $15,563

Cash invested: $50,400 (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 52241

• Rents YoY: 6.1%
• Active inventory: 374
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,692 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$320 /mo · $3,846/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-3

Break-even live

Break-even rent $1,695

Max offer price $179,450

Occupancy floor 95%

Sensitivity live

Price	-10% $99	-5% $48	+0% $-3	+5% $-54	+10% $-105
Rent	-10% $-137	-5% $-70	+0% $-3	+5% $64	+10% $131
Rate	-1.0pp $88	-0.5pp $43	base $-3	+0.5pp $-50	+1.0pp $-97

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 10th St #8 Coralville, IA	3.0	1.5	1320	$1,650	$1.25	22d	1	0.44mi
2010 10th St Coralville, IA	3.0	1.5	1320	$1,650	$1.25	14d	1	0.44mi
1100 Kennedy Pkwy Coralville, IA	3.0	2.5	1868	$2,000	$1.07	14d	1	1.35mi

Listing history 5 events

1. 2026-06-02
   status $180,000 Pending 27 DOM
2. 2026-06-01
   days on market $180,000 Active 27 DOM
3. 2026-05-31
   days on market $180,000 Active 26 DOM
4. 2026-05-30
   days on market $180,000 Active 25 DOM
5. 2026-05-04
   listed $180,000 Active 961-char remark

ⓘ 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: $3,846 · $320/mo
• Projected year-2 tax: $3,846 · $320/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 ≥106°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: $20,299
• − Mortgage interest: −$10,083
• − Property taxes: −$3,846
• − Insurance: −$900
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$5,236
• Taxable loss: −$3,014
• Est. tax savings @ 24.0%: +$723
• After-tax cash flow: $686/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

2 events — show timeline

• 2026-06-02 Pending — ICAARMLS
• 2026-05-04 Listed $180,000 ICAARMLS

Property tax history

+3.3%/yr

Latest (2025): $3,846 · +1.5% YoY. Source: county tax records.