1109 Ridgewood Blvd · Waverly, IA 50677

$225,000

3 bd · 2.0 ba · 1,692 sqft · SingleFamily public records · 31 Days on market

Built 1967 0.31 ac lot $133/sqft · 10% below area Est $249k · 10% under

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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).

• ARV discount +11.9/15.0
• Cash flow +8.7/30.0
• Schools +6.6/10.0
• Livability +4.3/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3 bedroom, 1.75 bath property ideally located just minutes from Wartburg College. Whether you're looking for a comfortable family home or a smart investment opportunity, this property offers the perfect blend of convenience and character. Inside, you'll find a spacious and functional layout with plenty of natural light throughout. The main living areas provide a warm and inviting atmosphere, while the bedrooms offer flexibility for family, guests, or a home office setup. The additional ¾ bath adds extra convenience for busy households. Step outside to enjoy a generous yard perfect for relaxing, entertaining, or outdoor activities. With its close proximity to campus, local shops, dining, and parks, this home delivers both a quiet neighborhood feel and easy access to everyday amenities. Don’t miss your chance to own a well located home in a highly desirable area!

Key facts

• 0.31 acre lot
• Parking
• Built 1967

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (23.1% below list).
• Recommended offer: $173k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.4% in Waverly — 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 (#12 in IA, #406 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• Waverly-Shell Rock Community School District (town): math 79% / reading 74% proficiency, ranked #46 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 127 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 34 units permitted in Bremer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bremer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $134k; list at $225k implies a 68% gain — meaningful room to come down on a strong offer.

Recommended offer $173,000 (23.1% 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 31 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.62%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

• ARV (median comp): $249,316
• List price: $225,000
• Delta: -9.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 Ridgewood Blvd	0.00mi	3/2.5	1,692 (0%)	0mo	$219,000	$129	98
803 NW 11th Ave	0.28mi	3/2.0	1,694 (+0%)	3mo	$192,500	$114	84
927 Greenfield Ave	0.14mi	3/2.0	1,574 (-7%)	14mo	$225,000	$143	70
1012 Cedar River Dr	0.38mi	3/2.0	1,830 (+8%)	2mo	$235,000	$128	67
1110 Cedar River Dr. Dr	0.31mi	3/2.0	1,655 (-2%)	19mo	$215,000	$130	66
900 5th St St NW	0.56mi	4/2.0 (+1)	1,688 (-0%)	4mo	$215,000	$127	65
915 Greenfield Ave	0.16mi	3/1.0	1,548 (-8%)	17mo	$140,000	$90	60
1114 Woodring Dr	0.35mi	3/2.0	1,849 (+9%)	15mo	$285,000	$154	56
820 NW 2nd St	0.71mi	3/1.0	1,704 (+1%)	7mo	$209,000	$123	56
1700 NW 4th Ave	0.74mi	3/2.0	1,652 (-2%)	11mo	$258,000	$156	52
508 NW 5th Ave	0.67mi	3/2.0	1,611 (-5%)	12mo	$184,000	$114	51
1002 NW 5th St	0.52mi	3/1.5	1,544 (-9%)	16mo	$225,000	$146	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.4%
• Equity multiple: 0.23×
• Total profit: $-48,522
• Equity at exit: $33,548

10-year hold

• IRR: -16.4%
• Equity multiple: 0.08×
• Total profit: $-57,708
• Equity at exit: $19,454

Cash invested: $63,000 (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 50677

• Active inventory: 127
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$283 /mo · $3,394/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-190

Break-even live

Break-even rent $1,970

Max offer price $191,470

Occupancy floor —

Sensitivity live

Price	-10% $-62	-5% $-126	+0% $-190	+5% $-253	+10% $-317
Rent	-10% $-326	-5% $-258	+0% $-190	+5% $-121	+10% $-53
Rate	-1.0pp $-76	-0.5pp $-133	base $-190	+0.5pp $-248	+1.0pp $-307

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1260 Leitha Ter Waverly, IA	3.0	2.5	1200	$1,730	$1.44	22d	2	1.40mi

Listing history 3 events

1. 2026-05-10
   status Pending 916-char remark

   Show marketing remark (916 chars)

   Welcome home to this charming 3 bedroom, 1.75 bath property ideally located just minutes from Wartburg College. Whether you're looking for a comfortable family home or a smart investment opportunity, this property offers the perfect blend of convenience and character. Inside, you'll find a spacious and functional layout with plenty of natural light throughout. The main living areas provide a warm and inviting atmosphere, while the bedrooms offer flexibility for family, guests, or a home office setup. The additional ¾ bath adds extra convenience for busy households. Step outside to enjoy a generous yard perfect for relaxing, entertaining, or outdoor activities. With its close proximity to campus, local shops, dining, and parks, this home delivers both a quiet neighborhood feel and easy access to everyday amenities. Don’t miss your chance to own a well located home in a highly desirable area!

2. 2026-04-08
   listed $225,000 Active 916-char remark

   Show marketing remark (916 chars)

   Welcome home to this charming 3 bedroom, 1.75 bath property ideally located just minutes from Wartburg College. Whether you're looking for a comfortable family home or a smart investment opportunity, this property offers the perfect blend of convenience and character. Inside, you'll find a spacious and functional layout with plenty of natural light throughout. The main living areas provide a warm and inviting atmosphere, while the bedrooms offer flexibility for family, guests, or a home office setup. The additional ¾ bath adds extra convenience for busy households. Step outside to enjoy a generous yard perfect for relaxing, entertaining, or outdoor activities. With its close proximity to campus, local shops, dining, and parks, this home delivers both a quiet neighborhood feel and easy access to everyday amenities. Don’t miss your chance to own a well located home in a highly desirable area!

3. 2021-07-14
   soldstatus $134,000

ⓘ 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: $3,394 · $283/mo
• Projected year-2 tax: $3,463 · $289/mo
• Expected delta: +$69/yr (+$6/mo · 2.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°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: $20,760
• − Mortgage interest: −$12,603
• − Property taxes: −$3,394
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$6,545
• Taxable loss: −$6,230
• Est. tax savings @ 24.0%: +$1,495
• After-tax cash flow: $-783/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: Waverly-Shell Rock Community School District
• NCES district ID: 1930540
• Math proficiency: 79% ▼ -3.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $59,860
• Composite: 65.73/100
• National rank: #459
• State rank: #46 of 289 in IA

Livability — Waverly

• Score: 86/100
• State rank: #12
• US rank: #406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, IA
• Population (ZIP): 12,655

Population outlook (Bremer County) Hauer SSP2

• Today (2025): 25,557 people
• By 2030: 25,842 · +1.1%
• By 2040: 26,206 · +2.5%
• By 2050: 26,620 · +4.2%
• By 2075: 27,635 · +8.1%
• By 2100: 28,760 · +12.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Black 2% Asian 2%
• Common ancestry: Portuguese 5% Iranian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Bremer

• 2024 margin: Strong R (+22.2) · D 38.3% · R 60.5% · Other 1.3%
• 2008→2024 swing: -31.5pp toward R · 2008: 9.3pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+16.1 2016: R+13.9 2012: D+2.5 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.54%
• Current HPI: 178.9673
• Rent YoY: —
• Metro: —
• 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

+67.9% since first listed

3 events — show timeline

• 2026-05-10 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-08 Listed $225,000 NEIRBR as distributed by MLS GRID
• 2021-07-14 Sold (Public Records) $134,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,394 · +12.2% YoY. Source: county tax records.