1207 21st Ave Pl · Coralville, IA 52241

$105,000

3 bd · 2.0 ba · 1,122 sqft · Condo public records · 1 Days on market

Built 1966 $274/mo HOA · 18% 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 +23.1/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.7/10.0
• Livability +4.5/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a spacious townhouse with two large bedrooms, a bonus closet in the master bedroom, and a sunny back deck where you can put your feet up after a long day. Conveniently-located laundry on the main level, a wide living room and dining area, and a great location in Coralville on the bus line. This condo comes with two parking spaces. See it today!

Key facts

• $274 HOA
• Built 1966

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 8.4% 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; 7 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $85k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.43% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 5.8

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $71
• Equity at exit: $15,656

10-year hold

• IRR: 13.5%
• Equity multiple: 2.28×
• Total profit: $37,735
• Equity at exit: $9,078

Cash invested: $29,400 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$551
• Tax from tax record: −$132 /mo · $1,578/yr
• Insurance: −$44
• HOA: −$274
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $188

Break-even live

Break-even rent $1,266

Max offer price $105,000

Occupancy floor 82%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 10th St Coralville, IA	3.0	1.5	1320	$1,650	$1.25	13d	1	0.11mi
101 21st Avenue Pl Coralville, IA	2.0	1.0	959	$1,050	$1.09	43d	1	0.11mi
2010 10th St #8 Coralville, IA	3.0	1.5	1320	$1,650	$1.25	21d	1	0.11mi
939 Boston Way #4 Coralville, IA	2.0	1.0	774	$990	$1.28	13d	1	0.33mi
1705 2nd St Unit A Coralville, IA	2.0	2.0	1207	$1,650	$1.37	43d	1	0.64mi
2 Russell Slade Blvd Coralville, IA	2.0	2.0	1241	$2,250	$1.81	13d	1	1.30mi
301 4th Ave Coralville, IA	1.0–2.0	1.0–2.0	1002	$1,495	$1.49	21d	10	1.49mi

HOA detail condo

• Monthly dues: $274 · $3,288/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-09
   status Pending
2. 2026-04-08
   listed $105,000 Active
3. 2024-03-14
   historical $1,010
4. 2024-01-12
   listed $1,010
5. 2018-10-01
   soldstatus $85,000 354-char remark

   Show marketing remark (354 chars)

   This is a spacious townhouse with two large bedrooms, a bonus closet in the master bedroom, and a sunny back deck where you can put your feet up after a long day. Conveniently-located laundry on the main level, a wide living room and dining area, and a great location in Coralville on the bus line. This condo comes with two parking spaces. See it today!

6. 2018-10-01
   soldstatus $85,000 354-char remark

   Show marketing remark (354 chars)

   This is a spacious townhouse with two large bedrooms, a bonus closet in the master bedroom, and a sunny back deck where you can put your feet up after a long day. Conveniently-located laundry on the main level, a wide living room and dining area, and a great location in Coralville on the bus line. This condo comes with two parking spaces. See it today!

7. 2018-06-11
   listed $85,000 354-char remark

   Show marketing remark (354 chars)

   This is a spacious townhouse with two large bedrooms, a bonus closet in the master bedroom, and a sunny back deck where you can put your feet up after a long day. Conveniently-located laundry on the main level, a wide living room and dining area, and a great location in Coralville on the bus line. This condo comes with two parking spaces. See it today!

8. 2018-06-11
   listed $85,000 354-char remark

   Show marketing remark (354 chars)

   This is a spacious townhouse with two large bedrooms, a bonus closet in the master bedroom, and a sunny back deck where you can put your feet up after a long day. Conveniently-located laundry on the main level, a wide living room and dining area, and a great location in Coralville on the bus line. This condo comes with two parking spaces. See it today!

9. 2013-09-11
   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: $1,578 · $132/mo
• Projected year-2 tax: $1,613 · $134/mo
• Expected delta: +$35/yr (+$3/mo · 2.2%)

ⓘ 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 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: $18,048
• − Mortgage interest: −$5,882
• − Property taxes: −$1,578
• − Insurance: −$525
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − HOA: −$3,288
• − Depreciation: −$3,055
• Taxable income: $834
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,060/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

+59.1% since first listed

9 events — show timeline

• 2026-04-09 Pending — CRAAR, CDRMLS
• 2026-04-08 Listed $105,000 CRAAR, CDRMLS
• 2024-03-14 Rental Removed $1,010 APPFOLIO
• 2024-01-12 Listed for Rent $1,010 APPFOLIO
• 2018-10-01 Sold (MLS) $85,000 ICAARMLS
• 2018-10-01 Sold (MLS) $85,000 CRAAR, CDRMLS
• 2018-06-11 Listed $85,000 ICAARMLS
• 2018-06-11 Listed $85,000 CRAAR, CDRMLS
• 2013-09-11 Sold (Public Records) $66,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,578 · +1.3% YoY. Source: county tax records.