1233 Bauch St · Waterloo, IA 50701

$114,900

3 bd · 1.0 ba · 942 sqft · SingleFamily public records · 2 Days on market

Built 1948 4,800 sqft lot Est $128k · 10% under

---

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 +15.6/30.0
• ARV discount +12.1/15.0
• DSCR +4.8/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this 3-bedroom, 1-bath home situated on a spacious corner lot! The inviting kitchen features a stylish tile backsplash and new laminate flooring. Just off the kitchen, the welcoming living room offers new carpet and complemented by new windows throughout the home. Two main-floor bedrooms with new carpet and a full bathroom provide convenient single-level living, while the upper-level bedroom offers flexible space that can be used as a primary suite, home office, guest room, or hobby area. Outside, you'll find a fenced-in yard with mature trees. The detached one-stall garage adds valuable storage and convenient parking. Schedule your showing today!

Key facts

• Laminate flooring
• Corner lot
• Tile backsplash

Tags

• CORNER LOT
• TILE BACKSPLASH
• LAMINATE FLOORING
• NEW WINDOWS
• FENCED-IN YARD
• MATURE TREES

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding; Shingle/asphalt roof
• Exterior features: Lot approximately 40 x 120; Road surface: other; Zoned R-2

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: No fireplace; Basement with block construction

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $49 ($589/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 $112k (2.9% below list).
• Recommended offer: $112k (2.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Fred Becker Elementary School (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 473 students, 76% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL) — zoned schools average 74% FRL vs 58% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 285 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $794 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,540 (2.9% below list)

Questions for the listing agent

1. Built in 1948 — 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: 0.97% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $128,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Maxwell St	0.18mi	3/1.0	850 (-10%)	1mo	$105,500	$124	75
724 Kirkwood Ave	0.40mi	3/1.0	972 (+3%)	6mo	$170,250	$175	72
645 Dundee Dr	0.33mi	2/2.0 (-1)	922 (-2%)	3mo	$147,000	$159	70
606 Wallgate Ave	0.54mi	2/2.0 (-1)	964 (+2%)	3mo	$120,000	$124	59
743 Wallgate Ave	0.61mi	2/1.0 (-1)	972 (+3%)	5mo	$85,000	$87	57
1108 Eleanor Dr	0.58mi	3/1.0	870 (-8%)	4mo	$90,000	$103	57
1240 Eleanor Dr	0.67mi	3/1.0	912 (-3%)	8mo	$123,600	$136	57
1016 Ansborough Ave	0.49mi	2/1.0 (-1)	864 (-8%)	11mo	$194,900	$226	50
2621 University Ave	0.61mi	2/1.0 (-1)	864 (-8%)	5mo	$168,500	$195	49
634 Englewood Ave	0.60mi	3/1.5	1,016 (+8%)	12mo	$60,000	$59	47
1236 Sheerer Ave	0.73mi	2/1.0 (-1)	864 (-8%)	0mo	$180,000	$208	46
1219 Dundee Ave	0.71mi	2/1.0 (-1)	1,036 (+10%)	5mo	$85,000	$82	41

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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-14,548
• Equity at exit: $17,132

10-year hold

• IRR: -2.1%
• Equity multiple: 0.85×
• Total profit: $-4,706
• Equity at exit: $9,934

Cash invested: $32,172 (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 50701

• Rents YoY: 3.8%
• Active inventory: 285
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,115 high
• Mortgage (P&I): −$603
• Tax from tax record: −$182 /mo · $2,180/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $49

Break-even live

Break-even rent $1,053

Max offer price $114,900

Occupancy floor 91%

Sensitivity live

Price	-10% $114	-5% $82	+0% $49	+5% $17	+10% $-16
Rent	-10% $-39	-5% $5	+0% $49	+5% $93	+10% $137
Rate	-1.0pp $107	-0.5pp $78	base $49	+0.5pp $19	+1.0pp $-11

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 Auburn St Waterloo, IA	3.0	1.0	983	$1,450	$1.48	45d	1	0.15mi
1653 Carriage Hill Dr #1 Waterloo, IA	2.0	1.0	721	$795	$1.10	22d	1	0.31mi
1115 Doreen Ave Unit 1120-3 Waterloo, IA	3.0	1.0	865	$890	$1.03	45d	1	0.53mi
1115 Doreen Ave Unit 1115-12 Waterloo, IA	2.0	1.0	800	$785	$0.98	45d	1	0.53mi
136 Janney Ave Waterloo, IA	2.0	2.0	901	$1,325	$1.47	45d	1	0.97mi
3621 Sager Ave Waterloo, IA	2.0	1.0	851	$795	$0.93	45d	1	0.98mi
1118 Tiffany Pl #12 Waterloo, IA	2.0	1.0	851	$795	$0.93	22d	1	1.03mi
1132 Tiffany Pl Waterloo, IA	2.0	1.0	857	$795	$0.93	45d	1	1.04mi
1124 Kern St Waterloo, IA	2.0	1.0	740	$950	$1.28	45d	1	1.28mi
3215 Terrace Dr #7 Cedar Falls, IA	2.0	1.0	792	$875	$1.10	45d	1	1.47mi

Listing history 2 events

1. 2026-06-13
   remarks 671-char remark
2. 2026-06-13
   listed $114,900 Pending 2 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: $2,180 · $182/mo
• Projected year-2 tax: $2,180 · $182/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 (unshaded) · 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: $13,385
• − Mortgage interest: −$6,436
• − Property taxes: −$2,180
• − Insurance: −$574
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$3,343
• Taxable loss: −$1,290
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $899/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): 30,232
• Household income: $61,475
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1377.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 11% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Portuguese 3% Italian 3% American 2%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Spanish 2% French/Haitian/Cajun 2%

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: ▼ -107.19%
• Current HPI: 162.8951
• Rent YoY: ▲ 3.80%
• 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

2 events — show timeline

• 2026-06-12 Pending — NEIRBR as distributed by MLS GRID
• 2026-06-11 Listed $114,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.5%/yr

Latest (2025): $2,180 · +8.6% YoY. Source: county tax records.