121-139 Northridge Dr Unit 121-139 · West Branch, IA 52358

$900,000

None bd · 4.0 ba · 808 sqft · MultiFamily · 202 Days on market

Built 1997 Average condition

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +4.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Well maintained 10 plex in a quiet neighborhood. Each are a 2 BR 1 BA with a fireplace and washer & dryer in the units. Each unit has all of the appliances listed above. There are 8 garages with this property. These have been maintained and updated as needed through the years. Parcel #'s 0500-13-05-302-026-0 thru 0500-13-05-302-035-0

Key facts

• Washer and dryer
• All appliances
• Quiet neighborhood

Tags

• QUIET NEIGHBORHOOD
• FIREPLACE
• WASHER AND DRYER
• ALL APPLIANCES
• MAINTAINED AND UPDATED

What this means for you Summary

Snapshot

• This is a ?-bed/4.0-bath multifamily listed at $900k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $900k).
• Recommended offer: $792k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 2.3% in West Branch — 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 84/100 on livability (#29 in IA, #817 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Branch Community School District (rural): math 68% / reading 70% proficiency, ranked #134 of 289 in IA (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 89 units permitted in Cedar County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Cedar County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($792k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $792,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.0%
• Equity multiple: 1.52×
• Total profit: $130,946
• Equity at exit: $134,193

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $470,989
• Equity at exit: $77,816

Cash invested: $252,000 (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 52358

• Home prices YoY: -17.2%
• Active inventory: 63
• Price-to-rent: 56.1×

Monthly cashflow live

• Estimated rent: $13,370 medium
• Mortgage (P&I): −$4,720
• Tax est. 1.5%: −$1,125 /mo · $13,500/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,808
• Net cashflow: $4,343

Break-even live

Break-even rent $7,873

Max offer price $900,000

Occupancy floor 63%

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	2	1	$13,370
Total (10 units)			$13,370

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Historic Way West Branch, IA	1.0–2.0	1.0–2.0	783	$1,350	$1.72	13d	5	0.19mi
157 Powell St West Branch, IA	3.0	2.0	1038	$1,304	$1.26	13d	1	0.49mi
204 Sycamore Dr West Branch, IA	2.0	2.0	1000	$1,320	$1.32	43d	1	0.73mi

Listing history 20 events

1. 2026-06-19
   days on market $900,000 Active 202 DOM
2. 2026-06-18
   days on market $900,000 Active 201 DOM
3. 2026-06-17
   days on market $900,000 Active 200 DOM
4. 2026-06-16
   days on market $900,000 Active 199 DOM
5. 2026-06-15
   days on market $900,000 Active 198 DOM
6. 2026-06-14
   days on market $900,000 Active 196 DOM
7. 2026-06-13
   days on market $900,000 Active 195 DOM
8. 2026-06-10
   days on market $900,000 Active 193 DOM
9. 2026-06-09
   days on market $900,000 Active 192 DOM
10. 2026-06-08
    days on market $900,000 Active 191 DOM
11. 2026-06-07
    days on market $900,000 Active 190 DOM
12. 2026-06-05
    days on market $900,000 Active 187 DOM
13. 2026-06-03
    days on market $900,000 Active 186 DOM
14. 2026-06-02
    days on market $900,000 Active 185 DOM
15. 2026-06-01
    days on market $900,000 Active 184 DOM
16. 2026-05-31
    days on market $900,000 Active 183 DOM
17. 2026-05-30
    days on market $900,000 Active 182 DOM
18. 2026-03-09
    status Active 341-char remark

    Show marketing remark (341 chars)

    Well maintained 10 plex in a quiet neighborhood. Each are a 2 BR 1 BA with a fireplace and washer & dryer in the units. Each unit has all of the appliances listed above. There are 8 garages with this property. These have been maintained and updated as needed through the years. Parcel #'s 0500-13-05-302-026-0 thru 0500-13-05-302-035-0

19. 2026-02-26
    status Pending 341-char remark

    Show marketing remark (341 chars)

    Well maintained 10 plex in a quiet neighborhood. Each are a 2 BR 1 BA with a fireplace and washer & dryer in the units. Each unit has all of the appliances listed above. There are 8 garages with this property. These have been maintained and updated as needed through the years. Parcel #'s 0500-13-05-302-026-0 thru 0500-13-05-302-035-0

20. 2025-11-17
    listed $900,000 Active 341-char remark

    Show marketing remark (341 chars)

    Well maintained 10 plex in a quiet neighborhood. Each are a 2 BR 1 BA with a fireplace and washer & dryer in the units. Each unit has all of the appliances listed above. There are 8 garages with this property. These have been maintained and updated as needed through the years. Parcel #'s 0500-13-05-302-026-0 thru 0500-13-05-302-035-0

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $160,440
• − Mortgage interest: −$50,414
• − Property taxes: −$13,500
• − Insurance: −$4,500
• − Repairs & maintenance: −$12,835
• − Management: −$12,835
• − Depreciation: −$26,182
• Taxable income: $40,174
• Est. tax owed @ 24.0%: −$9,642
• After-tax cash flow: $42,470/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.

Condition & rehab AI · 10 photos

Average 55/100 Cosmetic rehab

A well-maintained 10-unit apartment complex with average condition. Minor repairs and updates to paint, landscaping, and interior finishes would significantly enhance its value.

Repairs flagged

• Minor Paint — Interior walls and paint appear in fair condition
• Minor Landscaping — Landscaping is basic, could be improved

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhanced landscaping improves curb appeal and adds value
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and aesthetically pleasing
• Both Replace kitchen appliances — Modern appliances improve functionality and appeal
• Both Replace bathroom fixtures — Modern fixtures improve functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Interior walls and paint appear in fair condition	Minor	$500–3,000
Landscaping · Landscaping is basic, could be improved	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping improves curb appeal and adds value ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and aesthetically pleasing ↑
• Both Replace kitchen appliances — Modern appliances improve functionality and appeal ↑
• Both Replace bathroom fixtures — Modern fixtures improve functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Branch Community School District
• NCES district ID: 1930750
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 70% ▲ 1.00%
• Median HH income: $64,511
• Composite: 59.92/100
• National rank: #880
• State rank: #134 of 289 in IA

Livability — West Branch

• Score: 84/100
• State rank: #29
• US rank: #817

Category grades

Amenities F 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: West Branch, IA
• Population (ZIP): 3,752

Population outlook (Cedar County) Hauer SSP2

• Today (2025): 18,416 people
• By 2030: 18,294 · -0.7%
• By 2040: 17,771 · -3.5%
• By 2050: 16,841 · -8.6%
• By 2075: 14,503 · -21.2%
• By 2100: 11,301 · -38.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 3% Iranian 3% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cedar

• 2024 margin: Strong R (+21.8) · D 38.4% · R 60.1% · Other 1.5%
• 2008→2024 swing: -31.4pp toward R · 2008: 9.6pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+17.0 2016: R+18.1 2012: D+4.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.15%
• Current HPI: 221.5249
• 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

3 events — show timeline

• 2026-03-09 Relisted — ICAARMLS
• 2026-02-26 Pending — ICAARMLS
• 2025-11-17 Listed $900,000 ICAARMLS