1519 E Court St · Iowa City, IA 52245

$100,000

4 bd · 2.0 ba · 1,193 sqft · SingleFamily public records · 1 Days on market

Built 1952 6,150 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all visionaries, renovators, and DIY enthusiasts! This 2 bedroom, 1 bathroom mid-century ranch is a diamond in the rough, brimming with authentic character and architectural "cool. " Located in a highly sought after Iowa City neighborhood, this home is a total, complete fixer upper or flip, being sold "as-is" and is priced accordingly for those ready to take on a full-scale restoration. The home features a large formal dining room and a very cool screened porch. The lot includes a one car garage and backs up to open green space off the alley. Perfectly located on a bus line, this is your chance to turn a project into your dream home. SF is approximate - buyer to

Key facts

• Open green space
• Screened porch
• Mid-century ranch

Tags

• MID-CENTURY RANCH
• LARGE FORMAL DINING ROOM
• SCREENED PORCH
• OPEN GREEN SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 16.3% vs local median 2.7% in Iowa City — 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• 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: Longfellow Elementary School (math 60% / reading 62%, grade B, #385 of 616 statewide, top 63%, 385 students, 57% FRL); Southeast Junior High School (math 64% / reading 68%, grade A-, #152 of 246 statewide, top 62%, 812 students, 50% FRL); Iowa City High School (math 62% / reading 73%, grade B, #186 of 336 statewide, top 57%, 1,599 students, 40% FRL) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 204 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent runs 33% of the median local income ($78k/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 $691 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 + 6.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 2.12% ✓
• Cap rate: 16.26%
• Cash-on-cash: 35.59%
• DSCR: 2.58
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $229,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1403 E College St	0.18mi	3/2.0 (-1)	1,327 (+11%)	1mo	$325,000	$245	67
416 S 7th Ave	0.10mi	3/2.5 (-1)	1,320 (+11%)	6mo	$229,000	$173	66
1519 Center Ave	0.19mi	3/1.0 (-1)	1,281 (+7%)	6mo	$305,000	$238	64
1850 Muscatine Ave	0.37mi	3/1.5 (-1)	1,278 (+7%)	2mo	$236,000	$185	62
441 Upland Ave	0.66mi	4/2.0	1,212 (+2%)	5mo	$240,000	$198	62
1133 Hotz Ave	0.49mi	3/2.5 (-1)	1,288 (+8%)	2mo	$160,000	$124	55
1908 F St	0.50mi	3/2.0 (-1)	1,276 (+7%)	6mo	$244,500	$192	55
1011 2nd Ave	0.71mi	3/1.0 (-1)	1,214 (+2%)	0mo	$210,000	$173	54
823 3rd Ave	0.57mi	3/1.0 (-1)	1,270 (+6%)	8mo	$252,500	$199	47
1211 Pine St	0.64mi	3/1.0 (-1)	1,284 (+8%)	2mo	$217,000	$169	46
2125 F St	0.65mi	3/1.0 (-1)	1,264 (+6%)	8mo	$236,000	$187	44
1130 Rochester Ave	0.59mi	3/1.0 (-1)	1,356 (+14%)	2mo	$282,500	$208	39

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 · 5.97% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 2.55×
• Total profit: $43,354
• Equity at exit: $14,910

10-year hold

• IRR: 43.5%
• Equity multiple: 5.82×
• Total profit: $134,899
• Equity at exit: $8,646

Cash invested: $28,000 (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 52245

• Rents YoY: 6.0%
• Active inventory: 204
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,125 high
• Mortgage (P&I): −$524
• Tax from tax record: −$282 /mo · $3,386/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $830

Break-even live

Break-even rent $1,074

Max offer price $100,000

Occupancy floor 56%

Sensitivity live

Price	-10% $887	-5% $859	+0% $830	+5% $802	+10% $774
Rent	-10% $663	-5% $747	+0% $830	+5% $914	+10% $998
Rate	-1.0pp $881	-0.5pp $856	base $830	+0.5pp $805	+1.0pp $778

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	44d	1	0.68mi
426 S Johnson St Iowa City, IA	3.0	2.0	1000	$1,350	$1.35	44d	1	0.72mi
12 N Dodge St Iowa City, IA	4.0	2.0	1120	$2,695	$2.41	44d	1	0.73mi
2300 Catskill Ct Iowa City, IA	3.0	2.0	1456	$1,850	$1.27	44d	1	0.95mi
520 Church St Iowa City, IA	3.0	1.5	1359	$2,250	$1.66	44d	1	1.09mi
909 N Governor St Iowa City, IA	4.0	1.0	1484	$2,400	$1.62	44d	1	1.12mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1040	$2,170	$2.09	22d	1	1.47mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1010	$2,170	$2.15	44d	2	1.47mi
2111 Palmer Cir Iowa City, IA	4.0	2.0	1275	$2,000	$1.57	22d	1	1.47mi

Listing history 2 events

1. 2026-02-11
   status Pending
2. 2026-02-10
   listed $100,000 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: $3,386 · $282/mo
• Projected year-2 tax: $3,386 · $282/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $25,499
• − Mortgage interest: −$5,602
• − Property taxes: −$3,386
• − Insurance: −$500
• − Repairs & maintenance: −$2,040
• − Management: −$2,040
• − Depreciation: −$2,909
• Taxable income: $9,023
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $7,800/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 — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,853
• Household income: $78,020
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1268.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 4% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Chinese 1% Other Indo-European 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: ▼ -205.41%
• Current HPI: 164.751
• Rent YoY: ▲ 5.97%
• 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

• 2026-02-11 Pending — ICAARMLS
• 2026-02-10 Listed $100,000 ICAARMLS

Property tax history

+0.5%/yr

Latest (2025): $3,386 · +1.3% YoY. Source: county tax records.