123 S Scott Blvd · Iowa City, IA 52245

$115,000

2 bd · 1.0 ba · 869 sqft · Condo public records · 45 Days on market

Built 1996 $132/sqft · at area comps Est $117k · at est. $165/mo HOA · 12% of rent

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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 +17.4/30.0
• ARV discount +8.4/15.0
• 1% rule +6.9/10.0
• Schools +5.7/10.0
• DSCR +5.4/10.0
• Livability +4.3/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two bedroom/one bathroom unit has been well maintained and offers plenty of potential for a first time buyer or investor! Offers a one car detached garage and is located on a bus line for easy commuting. Unit is rented through June 2026 for $950 a month plus $35 a month for pet.

Key facts

• Detached garage
• $165 HOA
• Parking

Tags

• DETACHED GARAGE

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 $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+6.0%/yr); 204 active listings in the ZIP; solid renter incomes; 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 $795 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 45 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.
• Current owner paid $82k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 7.0

CMA / ARV

• ARV (median comp): $117,459
• List price: $115,000
• Delta: -2.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-8,828
• Equity at exit: $17,147

10-year hold

• IRR: 6.5%
• Equity multiple: 1.57×
• Total profit: $18,237
• Equity at exit: $9,943

Cash invested: $32,200 (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 52245

• Rents YoY: 6.0%
• Active inventory: 204
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$48
• HOA: −$165
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $86

Break-even live

Break-even rent $1,255

Max offer price $115,000

Occupancy floor 89%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $165 · $1,980/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-11
   listed $115,000 Active 284-char remark

   Show marketing remark (284 chars)

   This two bedroom/one bathroom unit has been well maintained and offers plenty of potential for a first time buyer or investor! Offers a one car detached garage and is located on a bus line for easy commuting. Unit is rented through June 2026 for $950 a month plus $35 a month for pet.

2. 2025-01-24
   listed $125,000 Active
3. 2024-02-05
   listed $129,900 Active
4. 2013-03-08
   soldstatus $82,000
5. 2013-03-08
   soldstatus $82,000

ⓘ 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: $2,110 · $176/mo
• Projected year-2 tax: $2,110 · $176/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $16,370
• − Mortgage interest: −$6,442
• − Property taxes: −$2,110
• − Insurance: −$575
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − HOA: −$1,980
• − Depreciation: −$3,345
• Taxable loss: −$702
• Est. tax savings @ 24.0%: +$168
• After-tax cash flow: $1,199/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): 22,853
• Household income: $78,020
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1268.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 4% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Chinese 1% Other Indo-European 1%

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: ▼ -205.41%
• Current HPI: 164.751
• Rent YoY: ▲ 5.97%
• 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

+40.2% since first listed

5 events — show timeline

• 2026-04-11 Listed $115,000 ICAARMLS
• 2025-01-24 Listed $125,000 ICAARMLS
• 2024-02-05 Listed $129,900 ICAARMLS
• 2013-03-08 Sold (Public Records) $82,000 Public Records
• 2013-03-08 Sold (Public Records) $82,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,110 · +1.2% YoY. Source: county tax records.