343 Willowind Pl · Iowa City, IA 52246

$114,900

2 bd · 1.0 ba · 896 sqft · Condo public records · 74 Days on market

Built 1979 $128/sqft · 23% below area Est $149k · 23% under $180/mo HOA · 16% of rent

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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 +15.0/15.0
• Cash flow +9.8/30.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just off Melrose Ave lies this 2 bed 1 bath condo. Open plan in the main living with a small deck off of the back to enjoy outside as well. Great opportunity for an investment or a personal residence. Come see it today!

Key facts

• Small deck
• Open plan
• $180 HOA

Tags

• OPEN PLAN
• SMALL DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-74 ($-887/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (11.4% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $102k (11.4% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.7% in Iowa City — 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 (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.9%/yr); 207 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 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.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 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 $101,841 (11.4% 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 74 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.00% ✓
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 8.3

CMA / ARV

• ARV (median comp): $148,999
• List price: $114,900
• Delta: -22.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.35×
• Total profit: $-20,900
• Equity at exit: $17,132

10-year hold

• IRR: -6.1%
• Equity multiple: 0.57×
• Total profit: $-13,928
• 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 52246

• Rents YoY: 4.9%
• Active inventory: 207
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$603
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$48
• HOA: −$180
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-74

Break-even live

Break-even rent $1,246

Max offer price $101,841

Occupancy floor —

Sensitivity live

Price	-10% $-9	-5% $-41	+0% $-74	+5% $-106	+10% $-139
Rent	-10% $-165	-5% $-119	+0% $-74	+5% $-28	+10% $17
Rate	-1.0pp $-16	-0.5pp $-45	base $-74	+0.5pp $-104	+1.0pp $-134

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Westwinds Dr #6 Iowa City, IA	2.0	1.0	900	$1,125	$1.25	44d	1	0.28mi
2639 Westwinds Dr #1 Iowa City, IA	1.0	1.0	532	$900	$1.69	44d	1	0.35mi
302 Finkbine Ln Iowa City, IA	1.0–2.0	1.0	765	$955	$1.25	14d	3	0.37mi
740 1/2 Sunset St Unit 740 Iowa City, IA	2.0	1.0	768	$1,050	$1.37	44d	1	1.08mi
300 Grandview Ct #313 Iowa City, IA	2.0	1.0	628	$1,300	$2.07	21d	1	1.09mi
100 Grandview Ct #104 Iowa City, IA	1.0	1.0	611	$1,200	$1.96	21d	1	1.15mi
301 4th Ave Coralville, IA	1.0–2.0	1.0–2.0	1002	$1,495	$1.49	21d	10	1.19mi
1447 Aber Ave Apt 4 Iowa City, IA	2.0	1.0	825	$900	$1.09	21d	1	1.29mi
1014 Oakcrest St Unit 2 Iowa City, IA	2.0	1.0	900	$1,050	$1.17	44d	1	1.31mi
504 2nd Ave Unit 01 Coralville, IA	1.0	1.0	648	$995	$1.54	44d	1	1.40mi
205 Woodside Dr Iowa City, IA	2.0	2.0	1100	$1,800	$1.64	44d	1	1.47mi

HOA detail condo

• Monthly dues: $180 · $2,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-19
   days on market $114,900 Active 74 DOM
2. 2026-06-18
   days on market $114,900 Active 73 DOM
3. 2026-06-17
   days on market $114,900 Active 72 DOM
4. 2026-06-16
   days on market $114,900 Active 71 DOM
5. 2026-06-15
   days on market $114,900 Active 70 DOM
6. 2026-06-14
   days on market $114,900 Active 68 DOM
7. 2026-06-13
   days on market $114,900 Active 67 DOM
8. 2026-06-10
   days on market $114,900 Active 65 DOM
9. 2026-06-09
   days on market $114,900 Active 64 DOM
10. 2026-06-08
    days on market $114,900 Active 63 DOM
11. 2026-06-07
    days on market $114,900 Active 62 DOM
12. 2026-06-05
    days on market $114,900 Active 59 DOM
13. 2026-06-03
    days on market $114,900 Active 58 DOM
14. 2026-06-02
    days on market $114,900 Active 57 DOM
15. 2026-06-01
    days on market $114,900 Active 56 DOM
16. 2026-05-31
    days on market $114,900 Active 55 DOM
17. 2026-05-30
    days on market $114,900 Active 54 DOM
18. 2026-04-06
    listed $114,900 Active 219-char remark

    Show marketing remark (219 chars)

    Just off Melrose Ave lies this 2 bed 1 bath condo. Open plan in the main living with a small deck off of the back to enjoy outside as well. Great opportunity for an investment or a personal residence. Come see it today!

19. 2025-06-15
    historical $995
20. 2025-05-05
    listed $995
21. 2025-05-05
    historical $995
22. 2025-05-01
    historical $995
23. 2025-05-01
    listed $995
24. 2025-04-30
    listed $995

ⓘ 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: $1,846 · $154/mo
• Projected year-2 tax: $1,846 · $154/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,828
• − Mortgage interest: −$6,436
• − Property taxes: −$1,846
• − Insurance: −$574
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − HOA: −$2,160
• − Depreciation: −$3,343
• Taxable loss: −$2,744
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $-229/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,308
• Household income: $62,521
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1680.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 12% Asian 11% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Swedish 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 73% English-only · Spanish 6% Arabic 5% Chinese 4%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.08%
• Current HPI: 159.5713
• Rent YoY: ▲ 4.94%
• Metro: Iowa City, 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

7 events — show timeline

• 2026-04-06 Listed $114,900 ICAARMLS
• 2025-06-15 Rental Removed $995 SHOWMOJO
• 2025-05-05 Listed for Rent $995 SHOWMOJO
• 2025-05-05 Rental Removed $995 SHOWMOJO2
• 2025-05-01 Rental Removed $995 SHOWMOJO
• 2025-05-01 Listed for Rent $995 SHOWMOJO2
• 2025-04-30 Listed for Rent $995 SHOWMOJO

Property tax history

+0.7%/yr

Latest (2025): $1,846 · +1.3% YoY. Source: county tax records.