472 Iris Ct · Tiffin, IA 52340

$270,000

3 bd · 5.0 ba · 1,634 sqft · Condo public records · 77 Days on market

Built 2021 $185/mo HOA · 8% 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).

• Cash flow +9.3/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* All photos are of a similar property * Built by Hochstedler Building & Development new construction 2-story condo in the heart of Tiffin. Fantastic kitchen fully equipped w/ upgraded appliances, pantry, breakfast bar, quartz countertops, & LVP fls. Inviting great rm w/ corner electric fp. Upper level features a spacious master suite, private bathroom w/ dual sinks, & huge walk-in closet. 2 addi'l 2nd fl BRs, each with walk-in closets & one w/ access to the Jack & Jill bathroom. Quartz countertops & LVT fls in all 3 bathrooms. Conveniently located 2nd fl laundry rm. Fences allowed! July possession. Seller is a licensed Realtor in the State of Iowa. Listing agent is related to the seller.

Key facts

• Quartz countertops
• Breakfast bar
• $185 HOA

Tags

• FULLY EQUIPPED KITCHEN
• BREAKFAST BAR
• QUARTZ COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• CORNER ELECTRIC FIREPLACE
• GENEROUS PRIMARY SUITE

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $2,220 (about $185/month); HOA covers structure maintenance; Community features include sidewalks and street lights; Subdivision: Central Park Condos

Exterior

• Parking: Attached garage with 2 parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Condominium common-interest community; Built by HBD
• Construction: Vinyl siding and stone with frame construction
• Exterior features: Patio; Fenced yard; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Tray ceilings; Breakfast bar; One electric fireplace in the living room
• Laundry & utility: Washer and dryer included; Laundry located on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/5.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (12.0% below list).
• Recommended offer: $235k (13.1% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 4.2% in Tiffin — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#220 in IA, #4,085 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: health & safety D, amenities F, commute F.
• Clear Creek Amana Community School District (rural): math 73% / reading 75% proficiency, ranked #72 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 216 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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 77 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $234,712 (13.1% 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 77 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.88% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.17%
• DSCR: 0.86
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -21.5%
• Equity multiple: 0.26×
• Total profit: $-56,309
• Equity at exit: $40,258

10-year hold

• IRR: -15.0%
• Equity multiple: 0.14×
• Total profit: $-64,744
• Equity at exit: $23,345

Cash invested: $75,600 (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 52340

• Home prices YoY: -8.8%
• Active inventory: 216
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,376 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$363 /mo · $4,356/yr
• Insurance: −$112
• HOA: −$185
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-200

Break-even live

Break-even rent $2,628

Max offer price $234,712

Occupancy floor —

Sensitivity live

Price	-10% $-47	-5% $-123	+0% $-200	+5% $-276	+10% $-353
Rent	-10% $-387	-5% $-294	+0% $-200	+5% $-106	+10% $-12
Rate	-1.0pp $-64	-0.5pp $-131	base $-200	+0.5pp $-270	+1.0pp $-341

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
628 Catherine Dr Tiffin, IA	3.0	3.5	1795	$2,350	$1.31	14d	1	0.55mi
630 Catherine Dr Tiffin, IA	3.0	3.5	1795	$2,350	$1.31	14d	1	0.55mi
425 Bainberry St Tiffin, IA	3.0	2.5	1750	$2,045	$1.17	45d	2	1.11mi

HOA detail condo

• Monthly dues: $185 · $2,220/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-03
   status $270,000 Pending 77 DOM
2. 2026-06-02
   days on market $270,000 Active 77 DOM
3. 2026-06-01
   days on market $270,000 Active 76 DOM
4. 2026-05-31
   days on market $270,000 Active 75 DOM
5. 2026-05-30
   days on market $270,000 Active 74 DOM
6. 2026-03-17
   listed $270,000 Active
7. 2021-06-23
   soldstatus $242,500
8. 2021-06-18
   soldstatus $242,500 732-char remark

   Show marketing remark (641 chars)

   * All photos are of a similar property * Built by Hochstedler Building & Development new construction 2-story condo in the heart of Tiffin. Fantastic kitchen fully equipped w/ upgraded appliances, pantry, breakfast bar, quartz countertops, & LVP fls. Inviting great rm w/ corner electric fp. Upper level features a spacious master suite, private bathroom w/ dual sinks, & huge walk-in closet. 2 addi'l 2nd fl BRs, each with walk-in closets & one w/ access to the Jack & Jill bathroom. Quartz countertops & LVT fls in all 3 bathrooms. Conveniently located 2nd fl laundry rm. Fences allowed! July possession.

9. 2021-06-18
   soldstatus $242,500 641-char remark

   Show marketing remark (641 chars)

   * All photos are of a similar property * Built by Hochstedler Building & Development new construction 2-story condo in the heart of Tiffin. Fantastic kitchen fully equipped w/ upgraded appliances, pantry, breakfast bar, quartz countertops, & LVP fls. Inviting great rm w/ corner electric fp. Upper level features a spacious master suite, private bathroom w/ dual sinks, & huge walk-in closet. 2 addi'l 2nd fl BRs, each with walk-in closets & one w/ access to the Jack & Jill bathroom. Quartz countertops & LVT fls in all 3 bathrooms. Conveniently located 2nd fl laundry rm. Fences allowed! July possession.

10. 2021-04-12
    listed $242,500 732-char remark

    Show marketing remark (732 chars)

    * All photos are of a similar property * Built by Hochstedler Building & Development new construction 2-story condo in the heart of Tiffin. Fantastic kitchen fully equipped w/ upgraded appliances, pantry, breakfast bar, quartz countertops, & LVP fls. Inviting great rm w/ corner electric fp. Upper level features a spacious master suite, private bathroom w/ dual sinks, & huge walk-in closet. 2 addi'l 2nd fl BRs, each with walk-in closets & one w/ access to the Jack & Jill bathroom. Quartz countertops & LVT fls in all 3 bathrooms. Conveniently located 2nd fl laundry rm. Fences allowed! July possession. Seller is a licensed Realtor in the State of Iowa. Listing agent is related to the seller.

11. 2021-03-12
    listed $242,500 641-char remark

    Show marketing remark (641 chars)

    * All photos are of a similar property * Built by Hochstedler Building & Development new construction 2-story condo in the heart of Tiffin. Fantastic kitchen fully equipped w/ upgraded appliances, pantry, breakfast bar, quartz countertops, & LVP fls. Inviting great rm w/ corner electric fp. Upper level features a spacious master suite, private bathroom w/ dual sinks, & huge walk-in closet. 2 addi'l 2nd fl BRs, each with walk-in closets & one w/ access to the Jack & Jill bathroom. Quartz countertops & LVT fls in all 3 bathrooms. Conveniently located 2nd fl laundry rm. Fences allowed! July possession.

ⓘ 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: $4,356 · $363/mo
• Projected year-2 tax: $4,356 · $363/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 ≥104°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: $28,506
• − Mortgage interest: −$15,124
• − Property taxes: −$4,356
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,280
• − Management: −$2,280
• − HOA: −$2,220
• − Depreciation: −$7,855
• Taxable loss: −$6,960
• Est. tax savings @ 24.0%: +$1,670
• After-tax cash flow: $-727/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: Clear Creek Amana Community School District
• NCES district ID: 1907590
• Math proficiency: 73% ▼ -6.00%
• Reading proficiency: 75% ▼ -1.00%
• Median HH income: $62,915
• Composite: 63.92/100
• National rank: #586
• State rank: #72 of 289 in IA

Livability — Tiffin

• Score: 75/100
• State rank: #220
• US rank: #4085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tiffin, IA
• County: Johnson County · 132,710 people
• City population: 6,128
• Metro: Iowa City, IA
• Population (ZIP): 6,128
• Household income: $98,393
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 149.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 7% Black 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Italian 7% Portuguese 5% Romanian 3%
• Foreign-born: 4% · China, United Kingdom, Canada
• Languages at home: 95% English-only · Chinese 1% Spanish 1% French/Haitian/Cajun 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: ▼ -16.59%
• Current HPI: 172.251
• Rent YoY: —
• 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

+11.3% since first listed

6 events — show timeline

• 2026-03-17 Listed $270,000 ICAARMLS
• 2021-06-23 Sold (Public Records) $242,500 Public Records
• 2021-06-18 Sold (MLS) $242,500 ICAARMLS
• 2021-06-18 Sold (MLS) $242,500 CRAAR, CDRMLS
• 2021-04-12 Listed $242,500 CRAAR, CDRMLS
• 2021-03-12 Listed $242,500 ICAARMLS

Property tax history

+51.5%/yr

Latest (2025): $4,356 · +3.3% YoY. Source: county tax records.