1206 21st Ave Pl · Coralville, IA 52241

$105,000

2 bd · 1.0 ba · 900 sqft · Condo public records · 136 Days on market

Built 1966 $117/sqft · 14% above area Est $92k · 14% over

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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 +9.5/30.0
• Schools +5.7/10.0
• 1% rule +5.4/10.0
• Livability +4.5/5.0
• Rent growth +4.0/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 2 bed 1 bath condo offering low maintenance convenient living in the heart of Coralville! Perfect for a first time home buyer or investor looking for an easy step into homeownership or someone looking to simplify without sacrificing comfort. Ceiling fans in bedrooms and private deck off living room. Enjoy the perks of condo living with exterior and grounds maintenance handled for you. Clean, well cared for and ready for you!

Key facts

• Private deck
• Ceiling fans
• Low maintenance

Tags

• PRIVATE DECK
• CEILING FANS
• LOW MAINTENANCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $-72 ($-865/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% 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.
• Market conditions: Rents rising fast (+6.1%/yr); 374 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $78k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $92,400 (12.0% 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. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 5.47%
• Cash-on-cash: -2.94%
• DSCR: 0.87
• GRM: 8.0

CMA / ARV

• ARV (median comp): $91,731
• List price: $105,000
• Delta: 14.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.6%
• Equity multiple: 0.39×
• Total profit: $-17,899
• Equity at exit: $15,656

10-year hold

• IRR: -2.3%
• Equity multiple: 0.82×
• Total profit: $-5,313
• 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: 8.0×

Monthly cashflow live

• Estimated rent: $1,093 high
• Mortgage (P&I): −$551
• Tax from tax record: −$122 /mo · $1,458/yr
• Insurance: −$44
• HOA est. from 5 same-building comps: −$220
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-72

Break-even live

Break-even rent $1,185

Max offer price $92,261

Occupancy floor —

Sensitivity live

Price	-10% $-13	-5% $-42	+0% $-72	+5% $-102	+10% $-132
Rent	-10% $-158	-5% $-115	+0% $-72	+5% $-29	+10% $14
Rate	-1.0pp $-19	-0.5pp $-45	base $-72	+0.5pp $-99	+1.0pp $-127

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 21st Avenue Pl Coralville, IA	1.0	1.0	608	$950	$1.56	44d	1	0.06mi
101 21st Avenue Pl Coralville, IA	2.0	1.0	959	$1,050	$1.09	44d	1	0.11mi
939 Boston Way #4 Coralville, IA	2.0	1.0	774	$990	$1.28	13d	1	0.33mi
209 Holiday Rd Coralville, IA	1.0	1.0	600	$835	$1.39	44d	1	1.36mi
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: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $105,000 Active 136 DOM
2. 2026-06-18
   days on market $105,000 Active 135 DOM
3. 2026-06-17
   days on market $105,000 Active 134 DOM
4. 2026-06-16
   days on market $105,000 Active 133 DOM
5. 2026-06-15
   days on market $105,000 Active 132 DOM
6. 2026-06-14
   days on market $105,000 Active 130 DOM
7. 2026-06-13
   days on market $105,000 Active 129 DOM
8. 2026-06-10
   days on market $105,000 Active 127 DOM
9. 2026-06-09
   days on market $105,000 Active 126 DOM
10. 2026-06-08
    days on market $105,000 Active 125 DOM
11. 2026-06-07
    days on market $105,000 Active 124 DOM
12. 2026-06-05
    days on market $105,000 Active 121 DOM
13. 2026-06-03
    days on market $105,000 Active 120 DOM
14. 2026-06-02
    days on market $105,000 Active 119 DOM
15. 2026-06-01
    days on market $105,000 Active 118 DOM
16. 2026-05-31
    days on market $105,000 Active 117 DOM
17. 2026-05-30
    days on market $105,000 Active 116 DOM
18. 2026-04-29
    price $105,000 444-char remark

    Show marketing remark (444 chars)

    Well maintained 2 bed 1 bath condo offering low maintenance convenient living in the heart of Coralville! Perfect for a first time home buyer or investor looking for an easy step into homeownership or someone looking to simplify without sacrificing comfort. Ceiling fans in bedrooms and private deck off living room. Enjoy the perks of condo living with exterior and grounds maintenance handled for you. Clean, well cared for and ready for you!

19. 2026-02-03
    listed $110,000 Active 444-char remark

    Show marketing remark (444 chars)

    Well maintained 2 bed 1 bath condo offering low maintenance convenient living in the heart of Coralville! Perfect for a first time home buyer or investor looking for an easy step into homeownership or someone looking to simplify without sacrificing comfort. Ceiling fans in bedrooms and private deck off living room. Enjoy the perks of condo living with exterior and grounds maintenance handled for you. Clean, well cared for and ready for you!

20. 2026-01-22
    listed $110,000 Active 265-char remark

    Show marketing remark (265 chars)

    Well cared for top floor 2 bed 1 bath condo with private deck. Great Coralville location on bus line, close to shopping & Coral Ridge Mall. HOA fees include city water and off street parking. Move in ready and priced to sell! Unit is leased through 4/30/2026.

21. 2018-05-01
    soldstatus $77,500
22. 2018-03-28
    listed $77,500
23. 2014-05-27
    listed $69,900
24. 2013-08-27
    listed $76,900
25. 2011-08-25
    soldstatus $62,500
26. 2005-04-19
    soldstatus $63,000

ⓘ 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: $1,458 · $122/mo
• Projected year-2 tax: $1,553 · $129/mo
• Expected delta: +$95/yr (+$8/mo · 6.5%)

ⓘ 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: $13,121
• − Mortgage interest: −$5,882
• − Property taxes: −$1,458
• − Insurance: −$525
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − HOA: −$2,640
• − Depreciation: −$3,055
• Taxable loss: −$2,538
• Est. tax savings @ 24.0%: +$609
• After-tax cash flow: $-256/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

+66.7% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $105,000 CRAAR, CDRMLS
• 2026-02-03 Listed $110,000 CRAAR, CDRMLS
• 2026-01-22 Listed $110,000 ForSaleByOwner.com
• 2018-05-01 Sold (MLS) $77,500 ICAARMLS
• 2018-03-28 Listed $77,500 ICAARMLS
• 2014-05-27 Listed $69,900 ICAARMLS
• 2013-08-27 Listed $76,900 ICAARMLS
• 2011-08-25 Sold (Public Records) $62,500 Public Records
• 2005-04-19 Sold (Public Records) $63,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,458 · +1.4% YoY. Source: county tax records.