927/929 Fairchild St · Iowa City, IA 52240

$200,000

None bd · 6.0 ba · 1,200 sqft · MultiFamily · 155 Days on market

Built 1960 Fair condition 9,000 sqft lot $167/sqft · 22% below area Est $255k · 22% under ↓ 11% since listing

---

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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +4.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Cute side by side duplex just east of downtown. 1 bedroom, 1 bath side rents for $860/month and will go to $870/month starting 8/1/2026. 2 bedroom, 1 bath side rents for $880/month and will go to $880/month starting 8/1/2026. (Both sides renewed). 2 bedroom unit has access to a basement for storage and washer/dryer hookups. Offstreet parking in the back via alley (alley located between Davenport & Fairchild). Must give at least 24 hour notice.

Key facts

• Access to basement
• Side by side duplex
• Offstreet parking

Tags

• SIDE BY SIDE DUPLEX
• ACCESS TO BASEMENT
• OFFSTREET PARKING

🏷️ Possibly a rental listed for sale. The $200,000 price doesn't fit this home's estimated sale value (~$255,085) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/1ba units multifamily listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive. Per door: $167/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+6.3%/yr); 260 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• At $2,172/mo this rent would consume 49% of the median local household income ($53k/yr) (locally 2852% 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $255,085
• List price: $200,000
• Delta: -21.59%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-3,624
• Equity at exit: $29,821

10-year hold

• IRR: 11.3%
• Equity multiple: 2.02×
• Total profit: $57,284
• Equity at exit: $17,292

Cash invested: $56,000 (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 52240

• Rents YoY: 6.3%
• Active inventory: 260
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,172 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $334

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 80%

Sensitivity live

Price	-10% $472	-5% $403	+0% $334	+5% $265	+10% $196
Rent	-10% $162	-5% $248	+0% $334	+5% $420	+10% $505
Rate	-1.0pp $434	-0.5pp $385	base $334	+0.5pp $282	+1.0pp $229

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,056
1× unit	2	1	$1,115
Total (2 units)			$2,172

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1154 Hotz Ave Iowa City, IA	2.0	2.5	1482	$2,450	$1.65	45d	1	0.33mi
321 N Johnson St Unit 321-02 Iowa City, IA	2.0	1.0	945	$1,050	$1.11	45d	1	0.36mi
520 Church St Iowa City, IA	3.0	1.5	1359	$2,250	$1.66	45d	1	0.36mi
902 N Dodge St Iowa City, IA	2.0	1.0	900	$1,150	$1.28	45d	1	0.37mi
906 N Dodge St Iowa City, IA	2.0	1.0	900	$1,150	$1.28	45d	1	0.38mi
426 S Johnson St Iowa City, IA	3.0	2.0	1000	$1,350	$1.35	45d	1	0.81mi
413 S Johnson St Iowa City, IA	2.0	1.0	700	$1,200	$1.71	22d	1	0.82mi
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	45d	1	0.91mi
316 S Madison St Iowa City, IA	1.0–2.0	1.0–2.0	673	$2,300	$3.42	45d	1	1.07mi
49 Arbor Hill Cir #23 Iowa City, IA	2.0	2.0	1128	$1,215	$1.08	45d	1	1.44mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1010	$1,237	$1.22	45d	2	1.46mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1040	$1,650	$1.59	22d	1	1.46mi

Listing history 20 events

1. 2026-06-19
   days on market $200,000 Active 155 DOM
2. 2026-06-18
   days on market $200,000 Active 154 DOM
3. 2026-06-17
   days on market $200,000 Active 153 DOM
4. 2026-06-16
   days on market $200,000 Active 152 DOM
5. 2026-06-15
   days on market $200,000 Active 151 DOM
6. 2026-06-14
   days on market $200,000 Active 149 DOM
7. 2026-06-13
   days on market $200,000 Active 148 DOM
8. 2026-06-10
   days on market $200,000 Active 146 DOM
9. 2026-06-09
   days on market $200,000 Active 145 DOM
10. 2026-06-08
    days on market $200,000 Active 144 DOM
11. 2026-06-07
    days on market $200,000 Active 143 DOM
12. 2026-06-05
    days on market $200,000 Active 140 DOM
13. 2026-06-03
    days on market $200,000 Active 139 DOM
14. 2026-06-02
    days on market $200,000 Active 138 DOM
15. 2026-06-01
    days on market $200,000 Active 137 DOM
16. 2026-05-31
    days on market $200,000 Active 136 DOM
17. 2026-05-30
    days on market $200,000 Active 135 DOM
18. 2026-05-13
    price $200,000 455-char remark

    Show marketing remark (455 chars)

    Cute side by side duplex just east of downtown. 1 bedroom, 1 bath side rents for $860/month and will go to $870/month starting 8/1/2026. 2 bedroom, 1 bath side rents for $880/month and will go to $880/month starting 8/1/2026. (Both sides renewed). 2 bedroom unit has access to a basement for storage and washer/dryer hookups. Offstreet parking in the back via alley (alley located between Davenport & Fairchild). Must give at least 24 hour notice.

19. 2026-03-24
    price $220,000 455-char remark

    Show marketing remark (455 chars)

    Cute side by side duplex just east of downtown. 1 bedroom, 1 bath side rents for $860/month and will go to $870/month starting 8/1/2026. 2 bedroom, 1 bath side rents for $880/month and will go to $880/month starting 8/1/2026. (Both sides renewed). 2 bedroom unit has access to a basement for storage and washer/dryer hookups. Offstreet parking in the back via alley (alley located between Davenport & Fairchild). Must give at least 24 hour notice.

20. 2026-01-11
    listed $225,000 Active 455-char remark

    Show marketing remark (455 chars)

    Cute side by side duplex just east of downtown. 1 bedroom, 1 bath side rents for $860/month and will go to $870/month starting 8/1/2026. 2 bedroom, 1 bath side rents for $880/month and will go to $880/month starting 8/1/2026. (Both sides renewed). 2 bedroom unit has access to a basement for storage and washer/dryer hookups. Offstreet parking in the back via alley (alley located between Davenport & Fairchild). Must give at least 24 hour notice.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $26,064
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,085
• − Management: −$2,085
• − Depreciation: −$5,818
• Taxable income: $872
• Est. tax owed @ 24.0%: −$209
• After-tax cash flow: $3,795/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

Fair 45/100 Moderate rehab

This side-by-side duplex requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms need significant updates, while the exterior could benefit from some landscaping.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Minor bathroom fixtures — basic and slightly worn
• Minor exterior siding — some debris

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom update — updating the bathroom would increase both resale and rental value
• Both exterior landscaping — improving the landscaping would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · basic and slightly worn	Minor	$500–3,000
exterior siding · some debris	Minor	$500–3,000
Total estimated repair cost · 4 items		$31,000–106,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom update — updating the bathroom would increase both resale and rental value ↑
• Both exterior landscaping — improving the landscaping would increase both resale and rental 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: 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): 35,074
• Household income: $52,960
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 2852.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Black 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 3% Romanian 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 8% French/Haitian/Cajun 2% Arabic 2%

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: ▼ -202.53%
• Current HPI: 170.7491
• Rent YoY: ▲ 6.32%
• 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

-11.1% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $200,000 ICAARMLS
• 2026-03-24 Price Changed $220,000 ICAARMLS
• 2026-01-11 Listed $225,000 ICAARMLS