3903 Avenue C · Council Bluffs, IA 51501

$135,000

3 bd · 1.0 ba · 1,172 sqft · SingleFamily · 16 Days on market

Built 1920 $115/sqft · 32% below area Est $199k · 32% under

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.0/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold before print

Key facts

• Off street parking
• Fenced yard
• Newer roof

Tags

• NEWER ROOF
• FENCED YARD
• MAIN FLOOR LAUNDRY
• OFF STREET PARKING
• PEDESTRIAN BRIDGE

Property features AI

Exterior

• Parking: Off-street parking
• Security: Smoke detectors
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single family residence; 2 stories
• Construction: Frame construction
• Exterior features: Deck; Fenced yard; Composition roof

Interior

• Heating & cooling: Natural gas forced air heat; Central air conditioning; Electric cooling; Ceiling fan(s)
• Interior features: Ceiling fans; Eat-in kitchen; Full basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.3% in Council Bluffs — 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 70/100 on livability (#368 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, amenities D, crime D-.
• Council Bluffs Community School District (urban): math 52% / reading 55% proficiency, ranked #272 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 140 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pottawattamie County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $111k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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 D 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: 1.10% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (median comp): $198,569
• List price: $135,000
• Delta: -32.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3903 Ave C	0.00mi	3/1.0	1,194 (+2%)	4mo	$111,000	$93	94
310 N 40th St	0.07mi	3/2.0	1,173 (+0%)	9mo	$163,000	$139	85
210 N 40th St	0.06mi	3/2.0	1,120 (-4%)	5mo	$210,000	$188	82
3560 Avenue C	0.39mi	2/1.0 (-1)	1,120 (-4%)	1mo	$185,000	$165	68
3730 3rd Ave	0.39mi	3/2.0	1,152 (-2%)	12mo	$225,000	$195	65
3512 Avenue Ave E	0.49mi	2/1.0 (-1)	1,150 (-2%)	12mo	$191,200	$166	59
3634 Avenue C	0.29mi	4/1.0 (+1)	1,309 (+12%)	5mo	$215,000	$164	58
3454 Avenue B	0.54mi	2/1.0 (-1)	1,214 (+4%)	8mo	$160,000	$132	57
3400 Avenue B	0.64mi	2/2.0 (-1)	1,148 (-2%)	2mo	$153,500	$134	57
3511 Ave A	0.50mi	2/1.0 (-1)	1,048 (-11%)	3mo	$171,000	$163	52
3436 Avenue E	0.60mi	3/1.0	1,330 (+14%)	2mo	$225,000	$169	48
3612 6th Ave	0.64mi	3/2.0	1,308 (+12%)	6mo	$205,000	$157	42

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 · 0.56% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-12,153
• Equity at exit: $20,129

10-year hold

• IRR: -3.2%
• Equity multiple: 0.81×
• Total profit: $-7,246
• Equity at exit: $11,672

Cash invested: $37,800 (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 51501

• Rents YoY: 0.6%
• Active inventory: 140
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,480 high
• Mortgage (P&I): −$708
• Tax from tax record: −$197 /mo · $2,367/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $208

Break-even live

Break-even rent $1,217

Max offer price $135,000

Occupancy floor 81%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4123 Avenue C Council Bluffs, IA	2.0	1.0	985	$1,100	$1.12	43d	1	0.21mi
4141 Rivers Edge Pkwy Council Bluffs, IA	2.0	1.0–2.0	808	$1,900	$2.35	2d	8	0.21mi
20 S 41st St Council Bluffs, IA	2.0	1.0–2.0	709	$1,640	$2.31	1d	14	0.37mi
3726 3rd Ave Apt E Council Bluffs, IA	2.0	1.0	748	$895	$1.20	43d	1	0.38mi
3611 Avenue G Unit 1 Council Bluffs, IA	2.0	1.0	1080	$1,050	$0.97	43d	1	0.44mi
806 N 34th St Unit 803-2 Council Bluffs, IA	2.0	1.0	955	$1,115	$1.17	23d	1	0.72mi
806 N 34th St Unit 803-14 Council Bluffs, IA	2.0	1.0	930	$1,000	$1.08	21d	1	0.72mi
806 N 34th St Unit 802-6 Council Bluffs, IA	2.0	1.0	930	$1,090	$1.17	23d	1	0.72mi
806 N 34th St Unit 805-4 Council Bluffs, IA	2.0	1.0	930	$1,049	$1.13	23d	1	0.72mi
806 N 34th St Unit 802-2 Council Bluffs, IA	2.0	1.0	955	$1,079	$1.13	23d	1	0.72mi
806 N 34th St Unit 805-17 Council Bluffs, IA	2.0	1.0	955	$1,125	$1.18	23d	1	0.72mi
806 N 34th St Council Bluffs, IA	1.0–2.0	1.0	776	$1,105	$1.42	2d	16	0.73mi
806 N 34th St Council Bluffs, IA	2.0	1.0	942	$1,062	$1.13	43d	11	0.73mi
105 S 9th St Omaha, NE	2.0	2.0	1255	$2,200	$1.75	3d	1	0.86mi
10 N 31st St Unit A Council Bluffs, IA	2.0	1.0	840	$795	$0.95	43d	1	0.92mi
900 Farnam St Omaha, NE	1.0–2.0	1.0–2.0	870	$1,750	$2.01	2d	9	0.94mi
415 Leavenworth St Omaha, NE	1.0–2.0	1.0–2.0	881	$2,395	$2.72	1d	38	0.97mi
1025 S 34th St Council Bluffs, IA	3.0	2.0	1470	$1,650	$1.12	14d	1	1.06mi
1222 N 31st St Council Bluffs, IA	2.0–4.0	1.0	1031	$1,186	$1.15	1d	7	1.09mi
1117 Nicholas St Omaha, NE	2.0	1.0–2.0	848	$2,195	$2.59	2d	47	1.09mi
1119 Howard St Unit 302 Omaha, NE	2.0	1.0	1500	$2,300	$1.53	43d	1	1.19mi
1213 Harney St Omaha, NE	2.0	1.0	722	$1,300	$1.80	11d	3	1.20mi
1015 N 14th St Omaha, NE	1.0–3.0	1.0–3.0	910	$1,855	$2.04	2d	17	1.21mi
1009 Leavenworth St Omaha, NE	1.0–2.0	1.0	875	$1,200	$1.37	3d	3	1.24mi
905 S 10th Ct Omaha, NE	2.0	1.5	1176	$2,200	$1.87	43d	1	1.27mi
1524 Cuming St Omaha, NE	1.0–2.0	1.0–2.0	1117	$2,195	$1.96	2d	14	1.31mi
222 S 15th St Omaha, NE	1.0–2.0	1.0–2.0	855	$1,935	$2.26	3d	40	1.32mi
1323 Jackson St Omaha, NE	1.0–2.0	1.0–2.0	1169	$1,545	$1.32	3d	3	1.33mi
1015 N 16th St Omaha, NE	1.0–2.0	1.0–2.0	1127	$1,685	$1.49	2d	11	1.35mi
1116 S 9th St Omaha, NE	2.0	1.0	1400	$1,400	$1.00	23d	1	1.37mi
1322 S 6th St Unit 1322 Omaha, NE	2.0	2.0	1350	$1,270	$0.94	14d	1	1.37mi
815 Pierce St Omaha, NE	3.0	1.0	968	$1,500	$1.55	14d	1	1.38mi
815 Pierce St Omaha, NE	3.0	1.0	968	$1,500	$1.55	23d	1	1.38mi
815 Pierce St Omaha, NE	3.0	1.0	968	$1,500	$1.55	43d	1	1.38mi
405 S 16th St Omaha, NE	1.0–2.0	1.0	832	$1,350	$1.62	11d	11	1.38mi
312 S 16th St Omaha, NE	2.0	1.0–2.0	1076	$1,350	$1.25	3d	2	1.42mi
312 S 16th St #201 Omaha, NE	2.0	2.0	1076	$1,350	$1.25	21d	1	1.42mi
925 Pierce St Unit 223 Omaha, NE	2.0	1.0	1056	$1,600	$1.52	23d	1	1.42mi
925 Pierce St Unit 112 Omaha, NE	2.0	2.0	1086	$1,795	$1.65	3d	1	1.42mi
925 Pierce St Apt 414 Omaha, NE	2.0	2.0	1315	$2,995	$2.28	23d	1	1.42mi

Listing history 9 events

1. 2026-06-01
   status $135,000 Pending 16 DOM
2. 2026-05-31
   days on market $135,000 Active 16 DOM
3. 2026-05-15
   listed $135,000 Active 394-char remark
4. 2026-03-04
   soldstatus $111,000
5. 2026-02-17
   soldstatus $111,000 17-char remark

   Show marketing remark (17 chars)

   Sold before print

6. 2026-02-16
   listed $111,000 17-char remark

   Show marketing remark (17 chars)

   Sold before print

7. 2014-11-10
   soldstatus $70,000
8. 2014-11-06
   soldstatus $69,900

   Show marketing remark (121 chars)

   Super cute 3 bedroom 1 bath home with fenced backyard. Main floor bedroom with 2 bedrooms up. Lots of off street parking.

9. 2014-09-02
   listed $69,900

   Show marketing remark (121 chars)

   Super cute 3 bedroom 1 bath home with fenced backyard. Main floor bedroom with 2 bedrooms up. Lots of off street parking.

ⓘ 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: $2,367 · $197/mo
• Projected year-2 tax: $2,367 · $197/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,760
• − Mortgage interest: −$7,562
• − Property taxes: −$2,367
• − Insurance: −$675
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$3,927
• Taxable income: $387
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $2,400/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: Council Bluffs Community School District
• NCES district ID: 1908220
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $45,259
• Composite: 45.23/100
• National rank: #2665
• State rank: #272 of 289 in IA

Livability — Council Bluffs

• Score: 70/100
• State rank: #368
• US rank: #7695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Bluffs, IA
• County: Pottawattamie County · 72,590 people
• City population: 72,590
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 34,618
• Household income: $59,843
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1110.0

Population outlook (Pottawattamie County) Hauer SSP2

• Today (2025): 93,683 people
• By 2030: 92,772 · -1.0%
• By 2040: 89,917 · -4.0%
• By 2050: 86,994 · -7.1%
• By 2075: 82,756 · -11.7%
• By 2100: 79,097 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 8% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Pottawattamie

• 2024 margin: R (+20.0) · D 39.3% · R 59.3% · Other 1.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -1.9pp · 2024: -20.0pp
• All cycles: 2024: R+20.0 2020: R+16.8 2016: R+21.6 2012: R+5.8 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.49%
• Current HPI: 215.2532
• Rent YoY: ▲ 0.56%
• Metro: Omaha-Council Bluffs, NE-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

+93.1% since first listed

8 events — show timeline

• 2026-06-01 Pending — SWIAR
• 2026-05-15 Listed $135,000 SWIAR
• 2026-03-04 Sold (Public Records) $111,000 Public Records
• 2026-02-17 Sold (MLS) $111,000 SWIAR
• 2026-02-16 Listed $111,000 SWIAR
• 2014-11-10 Sold (Public Records) $70,000 Public Records
• 2014-11-06 Sold (MLS) $69,900 SWIAR
• 2014-09-02 Listed $69,900 SWIAR

Property tax history

+3.3%/yr

Latest (2025): $2,367 · +5.2% YoY. Source: county tax records.