251 W 17th St Unit 253 West 17th St · Dubuque, IA 52001

$400,000

8 bd · 4.0 ba · 5,520 sqft · MultiFamily · 52 Days on market

Built 1880 Good condition $72/sqft · 95% above area

---

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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

An excellent investment opportunity! This updated side-by-side fourplex features four spacious 2-bedroom, 1-bath units with off-street parking. Located in a convenient area close to amenities, this property combines classic charm with modern improvements—ideal for investors seeking reliable rental income and long-term growth.

Key facts

• Built 1880
• Listed 51 days

Property features AI

Finance

• Financial info: Multiple rental units with current rents reported (examples: $800, $750, $950, $925)
• HOA & community: Association laundry amenity

Exterior

• Parking: Off-street parking; On-street parking
• Security: Smoke detectors installed
• Home design: Residential income property (quadplex); Two-level building
• Construction: Brick construction; Stone foundation
• Exterior features: Rubber roof; .16 acre lot; Zoned R

Interior

• Kitchen: Refrigerator, Range, Microwave
• Bedrooms: Multiple 2-bedroom units (each unit listed as 2 bedrooms)
• Bathrooms: Multiple 1-bathroom units (each unit listed as 1 bathroom)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Full basement; Refrigerator, Range, Microwave
• Laundry & utility: Washer and Dryer in units; Building association laundry

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $261/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.5% in Dubuque — 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 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Prescott Elementary School (math 27% / reading 27%, grade F, #607 of 616 statewide, top 99%, 370 students, 76% FRL); Dubuque Senior High School (math 63% / reading 74%, grade B, #181 of 336 statewide, top 54%, 1,435 students, 36% FRL) — zoned schools average 56% FRL vs 32% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 48% at this address vs 64% district-wide (-16 pts) — the specific schools serving this property underperform the Dubuque Community School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• At $4,893/mo this rent would consume 95% of the median local household income ($62k/yr) (locally 1940% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $388,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.22% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.80%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $204,746
• List price: $400,000
• Delta: 95.36%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1255 - 1257 Locust St	0.29mi	8/8.0	6,220 (+13%)	6mo	$228,000	$37	44

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.14×
• Total profit: $15,175
• Equity at exit: $59,641

10-year hold

• IRR: 15.3%
• Equity multiple: 2.40×
• Total profit: $156,954
• Equity at exit: $34,585

Cash invested: $112,000 (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 52001

• Rents YoY: 5.6%
• Active inventory: 225
• Price-to-rent: 27.2×

Monthly cashflow live

• Estimated rent: $4,893 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,028
• Net cashflow: $1,046

Break-even live

Break-even rent $3,569

Max offer price $400,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,322	-5% $1,184	+0% $1,046	+5% $907	+10% $769
Rent	-10% $659	-5% $852	+0% $1,046	+5% $1,239	+10% $1,432
Rate	-1.0pp $1,247	-0.5pp $1,147	base $1,046	+0.5pp $942	+1.0pp $837

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,892
Total (4 units)			$4,893

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $400,000 Active 52 DOM
2. 2026-06-18
   days on market $400,000 Active 51 DOM
3. 2026-06-17
   days on market $400,000 Active 50 DOM
4. 2026-06-16
   days on market $400,000 Active 49 DOM
5. 2026-06-15
   days on market $400,000 Active 48 DOM
6. 2026-06-14
   days on market $400,000 Active 46 DOM
7. 2026-06-13
   days on market $400,000 Active 45 DOM
8. 2026-06-10
   days on market $400,000 Active 43 DOM
9. 2026-06-09
   days on market $400,000 Active 42 DOM
10. 2026-06-08
    days on market $400,000 Active 41 DOM
11. 2026-06-07
    days on market $400,000 Active 40 DOM
12. 2026-06-05
    days on market $400,000 Active 37 DOM
13. 2026-06-03
    days on market $400,000 Active 36 DOM
14. 2026-06-02
    days on market $400,000 Active 35 DOM
15. 2026-06-01
    days on market $400,000 Active 34 DOM
16. 2026-05-31
    days on market $400,000 Active 33 DOM
17. 2026-05-30
    days on market $400,000 Active 32 DOM
18. 2026-04-28
    listed $400,000 Active 333-char remark

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $58,716
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,666
• − Repairs & maintenance: −$4,697
• − Management: −$4,697
• − Depreciation: −$11,636
• Taxable income: $6,612
• Est. tax owed @ 24.0%: −$1,587
• After-tax cash flow: $10,960/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 · 12 photos

Good 75/100 Cosmetic rehab

This updated fourplex offers four spacious 2-bedroom units with modern improvements, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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: Dubuque Community School District
• NCES district ID: 1909480
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $51,237
• Composite: 54.51/100
• National rank: #1345
• State rank: #205 of 289 in IA

Livability — Dubuque

• Score: 89/100
• State rank: #7
• US rank: #119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dubuque, IA
• County: Dubuque County · 60,106 people
• City population: 60,106
• Metro: Dubuque, IA
• Population (ZIP): 43,101
• Household income: $61,643
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1940.0

Population outlook (Dubuque County) Hauer SSP2

• Today (2025): 103,359 people
• By 2030: 106,472 · +3.0%
• By 2040: 112,043 · +8.4%
• By 2050: 116,553 · +12.8%
• By 2075: 128,014 · +23.9%
• By 2100: 132,892 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 1% Pacific Islander 1%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Dubuque

• 2024 margin: Lean R (+8.6) · D 45.1% · R 53.7% · Other 1.2%
• 2008→2024 swing: -29.4pp toward R · 2008: 20.8pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+1.2 2012: D+14.5 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.36%
• Current HPI: 173.5536
• Rent YoY: ▲ 5.63%
• Metro: Dubuque, 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

• 2026-04-28 Listed $400,000 ECIMLS