1133 Columbia St · Waterloo, IA 50703

$95,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 78 Days on market

Built 1913 6,500 sqft lot

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.6/10.0
• Schools +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly Updated 3-Bedroom Home with Detached Garage Welcome to this beautifully refreshed three-bedroom home offering modern updates and timeless appeal. Step inside to discover luxury vinyl flooring throughout, providing a sleek, cohesive look that’s both stylish and low-maintenance. The thoughtfully updated interior feels bright and inviting, perfect for everyday living and entertaining. Outside, enjoy the convenience of a detached garage with plenty of space for parking, storage, or hobbies. Move-in ready and full of charm, this home is a must-see.

Key facts

• Detached garage
• 6,500 sq ft lot
• Garage

Tags

• DETACHED GARAGE
• LUXURY VINYL FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (3.8% below list).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.2% in Waterloo — 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 81/100 on livability (#74 in IA, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Waterloo Community School District (urban): math 50% / reading 54% proficiency, ranked #276 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Elementary School (math 38% / reading 42%, grade F, #576 of 616 statewide, top 94%, 471 students, 86% FRL); George Washington Carver Academy (math 36% / reading 43%, grade F, #240 of 246 statewide, top 98%, 442 students, 91% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL) — zoned schools average 83% FRL vs 58% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 99 active listings in the ZIP; 18 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; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 8536% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $95k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.96% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $59,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1036 Columbia St	0.09mi	2/1.0 (-1)	848 (-2%)	4mo	$60,000	$71	85
1005 Columbia St	0.18mi	3/1.0	845 (-2%)	9mo	$8,500	$10	80
330 Cutler St	0.24mi	2/1.0 (-1)	816 (-6%)	11mo	$45,000	$55	65
307 Center St	0.47mi	3/1.0	930 (+8%)	1mo	$63,000	$68	64
211 Boston Ave Ave	0.45mi	3/1.0	932 (+8%)	2mo	$90,100	$97	64
748 Conger St	0.61mi	2/1.0 (-1)	864 (0%)	5mo	$60,000	$69	63
219 Center St	0.48mi	2/1.0 (-1)	876 (+1%)	10mo	$89,000	$102	62
713 Riehl St	0.52mi	2/2.0 (-1)	836 (-3%)	1mo	$78,500	$94	60
2421 E 4th St	0.55mi	2/2.0 (-1)	908 (+5%)	3mo	$61,000	$67	54
1622 Columbia St	0.48mi	3/1.0	988 (+14%)	6mo	$127,500	$129	48
319 Oliver St St	0.65mi	3/1.0	964 (+12%)	3mo	$55,000	$57	48
314 Crescent Pl	0.63mi	2/1.0 (-1)	772 (-11%)	2mo	$37,000	$48	46

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 · 6.67% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-5,326
• Equity at exit: $14,165

10-year hold

• IRR: 8.2%
• Equity multiple: 1.73×
• Total profit: $19,286
• Equity at exit: $8,214

Cash invested: $26,600 (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 50703

• Rents YoY: 6.7%
• Active inventory: 99
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $914 high
• Mortgage (P&I): −$498
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $103

Break-even live

Break-even rent $783

Max offer price $95,000

Occupancy floor 84%

Sensitivity live

Price	-10% $157	-5% $130	+0% $103	+5% $76	+10% $50
Rent	-10% $31	-5% $67	+0% $103	+5% $139	+10% $175
Rate	-1.0pp $151	-0.5pp $127	base $103	+0.5pp $79	+1.0pp $54

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1148 Columbia St Waterloo, IA	2.0	1.0	816	$850	$1.04	45d	1	0.03mi
1132 Ackermant St Waterloo, IA	2.0	1.0	685	$825	$1.20	45d	1	0.04mi
307 Riehl St Waterloo, IA	2.0	1.0	640	$825	$1.29	22d	1	0.36mi
314 Conger St Waterloo, IA	2.0	1.0	840	$875	$1.04	45d	1	0.39mi
657 Dawson St Waterloo, IA	2.0	1.0	692	$810	$1.17	45d	1	0.45mi
661 Dawson St Waterloo, IA	2.0	1.0	704	$895	$1.27	22d	1	0.46mi
613 Hope Ave Waterloo, IA	2.0	1.0	812	$795	$0.98	45d	1	0.55mi
405 W Donald St Waterloo, IA	2.0–3.0	1.0	880	$1,000	$1.14	22d	4	0.59mi
306 Charles St Waterloo, IA	3.0	1.0	916	$925	$1.01	45d	1	0.63mi
322 Lester St Waterloo, IA	2.0	1.0	672	$850	$1.26	45d	1	0.65mi
739 Sherman Ave Waterloo, IA	3.0	1.0	875	$925	$1.06	45d	1	0.72mi
118 Harrison St Waterloo, IA	2.0	1.0	600	$500	$0.83	45d	1	0.79mi
401 Argyle St Waterloo, IA	2.0	1.0	800	$800	$1.00	45d	1	0.91mi
1124 Kern St Waterloo, IA	2.0	1.0	740	$950	$1.28	45d	1	0.94mi
303 Franklin St Apt 2 Waterloo, IA	2.0	1.0	600	$650	$1.08	45d	1	1.11mi
520 Lafayette St Unit A Waterloo, IA	2.0	1.0	800	$750	$0.94	45d	1	1.35mi
45 W Jefferson St Waterloo, IA	1.0–2.0	1.0–2.0	1062	$1,750	$1.65	22d	9	1.37mi
716 Beech St Waterloo, IA	2.0	1.0	672	$875	$1.30	45d	1	1.41mi

Listing history 10 events

1. 2026-04-24
   listed $1,100
2. 2026-04-23
   status Pending
3. 2026-02-24
   status Active
4. 2026-02-16
   status Pending
5. 2026-01-27
   listed $95,000 Active
6. 2026-01-22
   historical $1,000
7. 2025-12-19
   listed $1,000
8. 2025-07-13
   historical $1,000
9. 2025-06-29
   listed $1,000
10. 2023-09-29
    soldstatus $45,000

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,233 · $103/mo
• Expected delta: +$259/yr (+$22/mo · 26.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,970
• − Mortgage interest: −$5,321
• − Property taxes: −$974
• − Insurance: −$475
• − Repairs & maintenance: −$878
• − Management: −$878
• − Depreciation: −$2,764
• Taxable loss: −$319
• Est. tax savings @ 24.0%: +$77
• After-tax cash flow: $1,316/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: Waterloo Community School District
• NCES district ID: 1930480
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $42,545
• Composite: 43.72/100
• National rank: #2950
• State rank: #276 of 289 in IA

Livability — Waterloo

• Score: 81/100
• State rank: #74
• US rank: #1589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, IA
• County: Black Hawk County · 112,933 people
• City population: 69,066
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 17,952
• Household income: $50,060
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 871.0

Population outlook (Black Hawk County) Hauer SSP2

• Today (2025): 139,716 people
• By 2030: 142,853 · +2.2%
• By 2040: 147,843 · +5.8%
• By 2050: 153,247 · +9.7%
• By 2075: 167,977 · +20.2%
• By 2100: 177,320 · +26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Black Hawk

• 2024 margin: Toss-up / Even · D 50.0% · R 48.8% · Other 1.2%
• 2008→2024 swing: -21.3pp toward R · 2008: 22.4pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+9.0 2016: D+7.3 2012: D+20.0 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.18%
• Current HPI: 132.9478
• Rent YoY: ▲ 6.67%
• Metro: Waterloo-Cedar Falls, 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

-97.6% since first listed

10 events — show timeline

• 2026-04-24 Listed for Rent $1,100 APPFOLIO
• 2026-04-23 Pending — NEIRBR as distributed by MLS GRID
• 2026-02-24 Relisted — NEIRBR as distributed by MLS GRID
• 2026-02-16 Pending — NEIRBR as distributed by MLS GRID
• 2026-01-27 Listed $95,000 NEIRBR as distributed by MLS GRID
• 2026-01-22 Rental Removed $1,000 APPFOLIO
• 2025-12-19 Listed for Rent $1,000 APPFOLIO
• 2025-07-13 Rental Removed $1,000 APPFOLIO
• 2025-06-29 Listed for Rent $1,000 APPFOLIO
• 2023-09-29 Sold (Public Records) $45,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $974 · +29.5% YoY. Source: county tax records.