727 N Dodge St · Iowa City, IA 52240

$269,900

3 bd · 2.0 ba · 1,745 sqft · SingleFamily · 166 Days on market

Built 1910 3,485 sqft lot $155/sqft · 18% below area Est $329k · 18% under ↓ 4% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +8.5/30.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +4.1/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 2 bathroom single family home located in Iowa City. Main floor features one bedroom and one full bath. Second floor has two bedrooms, and a full bath. Lots of original woodwork still intact. Unfinished basement has washer and dryer and plenty of storage space as well as a single attached garage stall. Rented through July 2027.

Key facts

• 3,485 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-239 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (23.7% below list).
• Recommended offer: $206k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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.
• Zoned schools: Horace Mann Elementary School (math 57% / reading 67%, grade B, #363 of 616 statewide, top 62%, 213 students, 35% FRL); Southeast Junior High School (math 64% / reading 68%, grade A-, #152 of 246 statewide, top 62%, 812 students, 50% FRL); Iowa City High School (math 62% / reading 73%, grade B, #186 of 336 statewide, top 57%, 1,599 students, 40% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 261 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $2,059/mo this rent would consume 47% 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 $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 166 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,894 (23.7% 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 166 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.76% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $329,352
• List price: $269,900
• Delta: -18.05%
• 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
427 Brown St	0.16mi	3/1.5	1,787 (+2%)	4mo	$360,000	$201	83
523 Brown St	0.09mi	4/1.5 (+1)	1,887 (+8%)	6mo	$435,000	$231	70
314 E Davenport St	0.36mi	3/2.0	1,592 (-9%)	12mo	$265,000	$166	59
1345 E Davenport St	0.62mi	4/2.0 (+1)	1,766 (+1%)	9mo	$287,500	$163	57
1225 Rochester Ave	0.61mi	3/2.0	1,817 (+4%)	12mo	$322,350	$177	54
715 E Market St	0.44mi	3/2.0	1,540 (-12%)	10mo	$315,000	$205	51
329-329.5 N Governor St	0.32mi	3/2.0	2,002 (+15%)	11mo	$299,000	$149	51
804 E Market St	0.42mi	4/1.5 (+1)	1,983 (+14%)	4mo	$360,000	$182	47
107 S Lucas St	0.69mi	4/2.0 (+1)	1,644 (-6%)	9mo	$233,350	$142	46
134 Parsons Ave	0.70mi	3/1.5	1,861 (+7%)	11mo	$630,000	$339	45
1307 Rochester Ave	0.63mi	3/1.0	1,552 (-11%)	12mo	$395,000	$255	38
1114 Prairie Du Chien Rd	0.57mi	2/2.0 (-1)	2,005 (+15%)	8mo	$193,529	$97	36

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 · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.31×
• Total profit: $-51,797
• Equity at exit: $40,243

10-year hold

• IRR: -6.0%
• Equity multiple: 0.56×
• Total profit: $-33,327
• Equity at exit: $23,336

Cash invested: $75,572 (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: 261
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $-239

Break-even live

Break-even rent $2,361

Max offer price $235,367

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-145	+0% $-239	+5% $-332	+10% $-425
Rent	-10% $-401	-5% $-320	+0% $-239	+5% $-157	+10% $-76
Rate	-1.0pp $-103	-0.5pp $-170	base $-239	+0.5pp $-309	+1.0pp $-380

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Church St Iowa City, IA	3.0	1.5	1359	$2,250	$1.66	45d	1	0.16mi
909 N Governor St Iowa City, IA	4.0	1.0	1484	$2,400	$1.62	45d	1	0.19mi
12 N Dodge St Iowa City, IA	4.0	2.0	1120	$2,695	$2.41	45d	1	0.57mi
1154 Hotz Ave Iowa City, IA	2.0	2.5	1482	$2,450	$1.65	45d	1	0.65mi
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	45d	1	1.09mi
215 Melrose Ct Iowa City, IA	3.0	1.0	1400	$2,400	$1.71	45d	1	1.43mi

Listing history 20 events

1. 2026-06-22
   days on market $269,900 Active 166 DOM
2. 2026-06-19
   days on market $269,900 Active 164 DOM
3. 2026-06-18
   days on market $269,900 Active 163 DOM
4. 2026-06-17
   days on market $269,900 Active 162 DOM
5. 2026-06-16
   days on market $269,900 Active 161 DOM
6. 2026-06-15
   days on market $269,900 Active 160 DOM
7. 2026-06-14
   days on market $269,900 Active 158 DOM
8. 2026-06-13
   days on market $269,900 Active 157 DOM
9. 2026-06-10
   days on market $269,900 Active 155 DOM
10. 2026-06-09
    days on market $269,900 Active 154 DOM
11. 2026-06-08
    days on market $269,900 Active 153 DOM
12. 2026-06-07
    days on market $269,900 Active 152 DOM
13. 2026-06-05
    days on market $269,900 Active 149 DOM
14. 2026-06-03
    days on market $269,900 Active 148 DOM
15. 2026-06-02
    days on market $269,900 Active 147 DOM
16. 2026-06-01
    days on market $269,900 Active 146 DOM
17. 2026-05-31
    days on market $269,900 Active 145 DOM
18. 2026-05-30
    days on market $269,900 Active 144 DOM
19. 2026-03-25
    price $269,900 339-char remark

    Show marketing remark (339 chars)

    3 bedroom, 2 bathroom single family home located in Iowa City. Main floor features one bedroom and one full bath. Second floor has two bedrooms, and a full bath. Lots of original woodwork still intact. Unfinished basement has washer and dryer and plenty of storage space as well as a single attached garage stall. Rented through July 2027.

20. 2026-01-06
    listed $279,900 Active 339-char remark

    Show marketing remark (339 chars)

    3 bedroom, 2 bathroom single family home located in Iowa City. Main floor features one bedroom and one full bath. Second floor has two bedrooms, and a full bath. Lots of original woodwork still intact. Unfinished basement has washer and dryer and plenty of storage space as well as a single attached garage stall. Rented through July 2027.

ⓘ 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: $24,707
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$7,852
• Taxable loss: −$7,614
• Est. tax savings @ 24.0%: +$1,827
• After-tax cash flow: $-1,036/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): 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

-3.6% since first listed

2 events — show timeline

• 2026-03-25 Price Changed $269,900 ICAARMLS
• 2026-01-06 Listed $279,900 ICAARMLS