3227 2nd Ave · Council Bluffs, IA 51501

$99,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 4 Days on market

Built 1900 6,550 sqft lot Est $122k · 19% under

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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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.8/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity for Investors or Homeowners looking to put in some sweat equity. This 2-bedroom, 1 bath home, with off street parking and alley access has so much potential. This home is ready for an Investor looking to make quick and easy cash flow. Quick Access to I-29 and I-480, making for an easy commute. Hurry and make this gem in Council Bluffs yours before it's gone! Home is being Sold-As-Is with Seller to make no repairs. AMA

Key facts

• Alley access
• Off street parking
• Quick access to i-29

Tags

• OFF STREET PARKING
• ALLEY ACCESS
• QUICK ACCESS TO I-29
• QUICK ACCESS TO I-480

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single-family residence; One-and-one-half stories; Not new / not a model; Built in 1900
• Construction: Composition roof; Other type foundation
• Exterior features: Enclosed porch; Chain link and partial wood fencing; City lot with public sidewalk and alley; Lot up to 1/4 acre

Interior

• Kitchen: Kitchen on main floor with vinyl flooring and 9'+ ceiling
• Bedrooms: Primary bedroom on 2nd floor with vaulted/cathedral ceiling, ceiling fan and wall-to-wall carpeting; Second bedroom on 2nd floor with vaulted/cathedral ceiling, ceiling fan and wall-to-wall carpeting
• Flooring: Carpet; Ceramic tile
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Cooling present
• Interior features: Ceiling fans; Humidifier

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 9.7% vs local median 3.3% in Council Bluffs — 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 70/100 on livability (#368 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, amenities D, crime D-.
• Council Bluffs Community School District (urban): math 52% / reading 55% proficiency, ranked #272 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rue Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 372 students, 56% FRL); Woodrow Wilson Middle School (math 54% / reading 51%, grade C+, #209 of 246 statewide, top 85%, 900 students, 75% FRL); Thomas Jefferson High School (math 40% / reading 53%, grade D-, #321 of 336 statewide, top 96%, 1,243 students, 65% FRL).
• Market conditions: Rents flat; 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pottawattamie County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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 $34k; list at $99k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
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: 1.18% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.08%
• DSCR: 1.54
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $121,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3538 3rd Ave	0.35mi	2/1.0	672 (0%)	1mo	$155,000	$231	83
3512 4th Ave	0.32mi	1/1.0 (-1)	645 (-4%)	6mo	$117,000	$181	68
2708 5th Avenue Ave	0.53mi	2/1.0	660 (-2%)	10mo	$80,000	$121	64
3537 6th Ave	0.42mi	2/1.0	740 (+10%)	1mo	$155,000	$209	63
3227 6th Ave	0.24mi	2/1.0	744 (+11%)	10mo	$45,500	$61	63
3138 5th Ave	0.17mi	2/1.0	768 (+14%)	9mo	$130,000	$169	61
3219 9th Ave	0.43mi	2/1.0	720 (+7%)	10mo	$150,000	$208	60
3418 9th Ave	0.45mi	2/1.0	750 (+12%)	3mo	$135,000	$180	57
3741 4th Ave	0.64mi	1/1.5 (-1)	677 (+1%)	10mo	$173,000	$256	54
2712 5th Ave	0.52mi	2/1.0	575 (-14%)	8mo	$95,000	$165	45
2555 Avenue C Ave	0.74mi	2/1.0	750 (+12%)	4mo	$145,500	$194	43
2622 Avenue B Ave	0.67mi	2/1.0	762 (+13%)	8mo	$136,000	$178	40

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 · 0.56% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,084
• Equity at exit: $14,761

10-year hold

• IRR: 5.9%
• Equity multiple: 1.39×
• Total profit: $10,941
• Equity at exit: $8,560

Cash invested: $27,720 (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 51501

• Rents YoY: 0.6%
• Active inventory: 140
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,172 high
• Mortgage (P&I): −$519
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $279

Break-even live

Break-even rent $819

Max offer price $99,000

Occupancy floor 71%

Sensitivity live

Price	-10% $335	-5% $307	+0% $279	+5% $251	+10% $223
Rent	-10% $186	-5% $233	+0% $279	+5% $325	+10% $372
Rate	-1.0pp $329	-0.5pp $304	base $279	+0.5pp $253	+1.0pp $227

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2717 Avenue A Apt 4 Council Bluffs, IA	2.0	1.0	672	$995	$1.48	44d	1	0.51mi
3726 3rd Ave Apt E Council Bluffs, IA	2.0	1.0	748	$895	$1.20	44d	1	0.61mi
806 N 34th St Council Bluffs, IA	1.0–2.0	1.0	776	$1,105	$1.42	3d	16	0.65mi
2523 3rd Ave Unit 8 Council Bluffs, IA	2.0	1.0	720	$750	$1.04	44d	1	0.74mi
4141 Rivers Edge Pkwy Council Bluffs, IA	2.0	1.0–2.0	808	$1,900	$2.35	3d	8	0.96mi
20 S 41st St Council Bluffs, IA	2.0	1.0–2.0	709	$1,640	$2.31	2d	14	0.97mi
2018 Avenue A Unit 2018 Council Bluffs, IA	1.0	1.0	560	$775	$1.38	24d	1	1.19mi
2018 Avenue A Unit 2018 Council Bluffs, IA	1.0	1.0	560	$750	$1.34	44d	1	1.19mi
415 Leavenworth St Omaha, NE	1.0–2.0	1.0–2.0	881	$2,395	$2.72	2d	38	1.41mi

Listing history 8 events

1. 2026-05-13
   status Pending 439-char remark

   Show marketing remark (439 chars)

   Great Opportunity for Investors or Homeowners looking to put in some sweat equity. This 2-bedroom, 1 bath home, with off street parking and alley access has so much potential. This home is ready for an Investor looking to make quick and easy cash flow. Quick Access to I-29 and I-480, making for an easy commute. Hurry and make this gem in Council Bluffs yours before it's gone! Home is being Sold-As-Is with Seller to make no repairs. AMA

2. 2026-05-12
   status Pending
3. 2026-05-08
   listed $99,000 Active 439-char remark

   Show marketing remark (439 chars)

   Great Opportunity for Investors or Homeowners looking to put in some sweat equity. This 2-bedroom, 1 bath home, with off street parking and alley access has so much potential. This home is ready for an Investor looking to make quick and easy cash flow. Quick Access to I-29 and I-480, making for an easy commute. Hurry and make this gem in Council Bluffs yours before it's gone! Home is being Sold-As-Is with Seller to make no repairs. AMA

4. 2026-05-08
   listed $99,000 New

   Show marketing remark (439 chars)

   Great Opportunity for Investors or Homeowners looking to put in some sweat equity. This 2-bedroom, 1 bath home, with off street parking and alley access has so much potential. This home is ready for an Investor looking to make quick and easy cash flow. Quick Access to I-29 and I-480, making for an easy commute. Hurry and make this gem in Council Bluffs yours before it's gone! Home is being Sold-As-Is with Seller to make no repairs. AMA

5. 2019-02-14
   soldstatus $33,500
6. 2010-02-08
   soldstatus $57,000
7. 1999-09-21
   soldstatus $40,000 89-char remark

   Show marketing remark (89 chars)

   1 1/2 STORY HOME WITH 2 BEDROOMS, 2 CAR GARAGE, LIVING ROOM, DINING ROOM. NEEDS UPDATING.

8. 1999-08-06
   listed $44,500 89-char remark

   Show marketing remark (89 chars)

   1 1/2 STORY HOME WITH 2 BEDROOMS, 2 CAR GARAGE, LIVING ROOM, DINING ROOM. NEEDS UPDATING.

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $1,297 · $108/mo
• Expected delta: +$257/yr (+$21/mo · 24.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,068
• − Mortgage interest: −$5,546
• − Property taxes: −$1,040
• − Insurance: −$495
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$2,880
• Taxable income: $1,856
• Est. tax owed @ 24.0%: −$446
• After-tax cash flow: $2,903/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: Council Bluffs Community School District
• NCES district ID: 1908220
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $45,259
• Composite: 45.23/100
• National rank: #2665
• State rank: #272 of 289 in IA

Livability — Council Bluffs

• Score: 70/100
• State rank: #368
• US rank: #7695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Bluffs, IA
• County: Pottawattamie County · 72,590 people
• City population: 72,590
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 34,618
• Household income: $59,843
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1110.0

Population outlook (Pottawattamie County) Hauer SSP2

• Today (2025): 93,683 people
• By 2030: 92,772 · -1.0%
• By 2040: 89,917 · -4.0%
• By 2050: 86,994 · -7.1%
• By 2075: 82,756 · -11.7%
• By 2100: 79,097 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 8% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Pottawattamie

• 2024 margin: R (+20.0) · D 39.3% · R 59.3% · Other 1.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -1.9pp · 2024: -20.0pp
• All cycles: 2024: R+20.0 2020: R+16.8 2016: R+21.6 2012: R+5.8 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.49%
• Current HPI: 215.2532
• Rent YoY: ▲ 0.56%
• Metro: Omaha-Council Bluffs, NE-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

+122.5% since first listed

8 events — show timeline

• 2026-05-13 Pending — SWIAR
• 2026-05-12 Pending — GPRMLS
• 2026-05-08 Listed $99,000 GPRMLS
• 2026-05-08 Listed $99,000 SWIAR
• 2019-02-14 Sold (Public Records) $33,500 Public Records
• 2010-02-08 Sold (Public Records) $57,000 Public Records
• 1999-09-21 Sold (MLS) $40,000 SWIAR
• 1999-08-06 Listed $44,500 SWIAR

Property tax history

-2.1%/yr

Latest (2025): $1,040 · +1.2% YoY. Source: county tax records.