927 Newton St · Waterloo, IA 50703

$64,000

3 bd · 1.5 ba · 900 sqft · SingleFamily public records · 1 Days on market

Built 1895 6,500 sqft lot Est $85k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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

Seller said this property used to be a cabin back in the day. 2 bedroom 1 bathroom ranch/one story home. Spacious kitchen with nice counter space, livingroom that could be used as a diningroom/livingroom combo. 3rd room with bathroom that could be used as an additional bedroom or office that is smaller. Detached 2 stall garage, fenced in backyard, new greenhouse and new shed. Home features a newer furnace, water heater & electrical is updated. Needs TLC but priced to sell.

Key facts

• Updated electrical
• Newer furnace
• Fenced in backyard

Tags

• FENCED IN BACKYARD
• NEW GREENHOUSE
• NEW SHED
• NEWER FURNACE
• UPDATED ELECTRICAL

Property features AI

Finance

• HOA & community: Sidewalks in the neighborhood

Exterior

• Parking: Detached carport; Two carport spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vertical siding; Shingle roof
• Exterior features: Fenced yard; Storage structure; Lot dimensions approximately 50 x 130

Interior

• Kitchen: Disposal; Microwave; Free-standing range; Refrigerator; Gas water heater
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fan(s)
• Interior features: Ceiling fan(s); No fireplace
• Laundry & utility: Laundry on lower level; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $64k).
• Cap rate 11.9% 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); 98 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 $442 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $18k cash investment doubles in ~6 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: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,000

Questions for the listing agent

1. Built in 1895 — 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 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?
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: 1.48% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.88%
• DSCR: 1.88
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $84,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1128 Newton St	0.25mi	2/1.0 (-1)	906 (+1%)	7mo	$85,000	$94	74
1035 Newton St	0.13mi	2/1.5 (-1)	963 (+7%)	8mo	$95,000	$99	71
748 Conger St	0.30mi	2/1.0 (-1)	864 (-4%)	5mo	$60,000	$69	68
1162 Kern Street St	0.32mi	2/1.0 (-1)	941 (+5%)	4mo	$97,900	$104	68
713 Riehl St	0.33mi	2/2.0 (-1)	836 (-7%)	1mo	$78,500	$94	64
1061 Riehl St	0.27mi	3/1.0	1,000 (+11%)	8mo	$126,500	$127	60
725 Riehl St St	0.32mi	2/1.0 (-1)	868 (-4%)	15mo	$99,900	$115	60
1005 Columbia St	0.68mi	3/1.0	845 (-6%)	9mo	$8,500	$10	48
1036 Columbia St	0.71mi	2/1.0 (-1)	848 (-6%)	4mo	$60,000	$71	48
750 Newton St	0.20mi	2/1.0 (-1)	773 (-14%)	17mo	$140,000	$181	46
536 Newton St	0.49mi	2/1.0 (-1)	840 (-7%)	18mo	$78,000	$93	44
640 Kern St	0.36mi	2/1.0 (-1)	766 (-15%)	14mo	$55,000	$72	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 · 6.67% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.68×
• Total profit: $12,195
• Equity at exit: $9,543

10-year hold

• IRR: 27.4%
• Equity multiple: 3.85×
• Total profit: $51,139
• Equity at exit: $5,534

Cash invested: $17,920 (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: 98
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $949 high
• Mortgage (P&I): −$336
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $297

Break-even live

Break-even rent $573

Max offer price $64,000

Occupancy floor 64%

Sensitivity live

Price	-10% $333	-5% $315	+0% $297	+5% $279	+10% $261
Rent	-10% $222	-5% $259	+0% $297	+5% $334	+10% $372
Rate	-1.0pp $329	-0.5pp $313	base $297	+0.5pp $280	+1.0pp $263

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1124 Kern St Waterloo, IA	2.0	1.0	740	$950	$1.28	44d	1	0.26mi
661 Dawson St Waterloo, IA	2.0	1.0	704	$895	$1.27	22d	1	0.34mi
657 Dawson St Waterloo, IA	2.0	1.0	692	$810	$1.17	44d	1	0.34mi
1132 Ackermant St Waterloo, IA	2.0	1.0	685	$825	$1.20	44d	1	0.64mi
1148 Columbia St Waterloo, IA	2.0	1.0	816	$850	$1.04	44d	1	0.70mi
307 Riehl St Waterloo, IA	2.0	1.0	640	$825	$1.29	22d	1	0.76mi
314 Conger St Waterloo, IA	2.0	1.0	840	$875	$1.04	44d	1	0.76mi
405 W Donald St Waterloo, IA	2.0–3.0	1.0	880	$1,000	$1.14	22d	4	0.95mi
118 Harrison St Waterloo, IA	2.0	1.0	600	$500	$0.83	44d	1	1.08mi
613 Hope Ave Waterloo, IA	2.0	1.0	812	$795	$0.98	44d	1	1.14mi
401 Argyle St Waterloo, IA	2.0	1.0	800	$800	$1.00	44d	1	1.25mi
306 Charles St Waterloo, IA	3.0	1.0	916	$925	$1.01	44d	1	1.29mi
739 Sherman Ave Waterloo, IA	3.0	1.0	875	$925	$1.06	44d	1	1.29mi
45 W Jefferson St Waterloo, IA	1.0–2.0	1.0–2.0	1062	$1,750	$1.65	22d	9	1.30mi
322 Lester St Waterloo, IA	2.0	1.0	672	$850	$1.26	44d	1	1.33mi
136 Janney Ave Waterloo, IA	2.0	2.0	901	$1,325	$1.47	44d	1	1.35mi
303 Franklin St Apt 2 Waterloo, IA	2.0	1.0	600	$650	$1.08	44d	1	1.37mi
W Mullan Ave Waterloo, IA	2.0	1.0	918	$710	$0.77	44d	2	1.43mi

Listing history 2 events

1. 2026-06-19
   remarks 479-char remark
2. 2026-06-19
   listed $64,000 Active 1 DOM

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,088 · $91/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 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: $11,391
• − Mortgage interest: −$3,585
• − Property taxes: −$1,088
• − Insurance: −$320
• − Repairs & maintenance: −$911
• − Management: −$911
• − Depreciation: −$1,862
• Taxable income: $2,713
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $2,912/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

1 event — show timeline

• 2026-06-18 Listed $64,000 NEIRBR as distributed by MLS GRID

Property tax history

+2.1%/yr

Latest (2025): $1,088 · +9.0% YoY. Source: county tax records.