235 Feldt Ave · Evansdale, IA 50707

$59,900

1 bd · 1.0 ba · 619 sqft · SingleFamily public records · 147 Days on market

Built 1946 7,500 sqft lot $97/sqft · 39% below area Est $97k · 39% under ↓ 8% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! Great location! New siding and roof in the last 6 months. Perfect time of year to update the interior of this 2 bedroom crawl space home and have it ready to sell or rent in the spring! Don't miss out on the chance to add this to or be the start of your investment portfolio! Bonus: Approximately 1 block from the elementary and middle schools!

Key facts

• New siding
• New roof
• 7,500 sq ft lot

Tags

• NEW SIDING
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($839 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.9% in Evansdale — 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 67/100 on livability (#487 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Waterloo Community School District (urban): math 50% / reading 54% proficiency, ranked #276 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 64 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.40% ✓
• Cap rate: 11.39%
• Cash-on-cash: 18.20%
• DSCR: 1.81
• GRM: 6.0

CMA / ARV

• ARV (median comp): $97,482
• List price: $59,900
• Delta: -38.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
455 Morrell Ave	0.52mi	2/1.0 (+1)	616 (-0%)	9mo	$37,400	$61	62
611 East End Ave	0.46mi	2/1.0 (+1)	660 (+7%)	1mo	$68,000	$103	62
226 Wema Ave	0.72mi	2/1.0 (+1)	624 (+1%)	8mo	$89,900	$144	54
839 Home Acres	0.74mi	2/1.0 (+1)	668 (+8%)	16mo	$110,000	$165	34
843 Evans Rd	0.64mi	2/1.0 (+1)	672 (+9%)	24mo	$78,000	$116	31
602 Home Acres Ave	0.67mi	2/1.0 (+1)	704 (+14%)	23mo	$65,000	$92	21

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.39×
• Total profit: $6,500
• Equity at exit: $8,931

10-year hold

• IRR: 19.0%
• Equity multiple: 2.58×
• Total profit: $26,554
• Equity at exit: $5,179

Cash invested: $16,772 (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 50707

• Active inventory: 64
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $839 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $254

Break-even live

Break-even rent $517

Max offer price $59,900

Occupancy floor 65%

Sensitivity live

Price	-10% $288	-5% $271	+0% $254	+5% $237	+10% $220
Rent	-10% $188	-5% $221	+0% $254	+5% $287	+10% $321
Rate	-1.0pp $284	-0.5pp $270	base $254	+0.5pp $239	+1.0pp $223

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Earl St Evansdale, IA	2.0	1.0	702	$795	$1.13	21d	1	0.40mi
850 Payne St Evansdale, IA	2.0	1.0	640	$900	$1.41	44d	1	0.62mi

Listing history 21 events

1. 2026-06-19
   days on market $59,900 Active 147 DOM
2. 2026-06-18
   days on market $59,900 Active 146 DOM
3. 2026-06-17
   days on market $59,900 Active 145 DOM
4. 2026-06-16
   days on market $59,900 Active 144 DOM
5. 2026-06-15
   days on market $59,900 Active 143 DOM
6. 2026-06-14
   days on market $59,900 Active 141 DOM
7. 2026-06-13
   days on market $59,900 Active 140 DOM
8. 2026-06-10
   days on market $59,900 Active 138 DOM
9. 2026-06-09
   days on market $59,900 Active 137 DOM
10. 2026-06-08
    days on market $59,900 Active 136 DOM
11. 2026-06-07
    days on market $59,900 Active 135 DOM
12. 2026-06-05
    days on market $59,900 Active 132 DOM
13. 2026-06-03
    days on market $59,900 Active 131 DOM
14. 2026-06-02
    days on market $59,900 Active 130 DOM
15. 2026-06-01
    days on market $59,900 Active 129 DOM
16. 2026-05-31
    days on market $59,900 Active 128 DOM
17. 2026-05-30
    days on market $59,900 Active 127 DOM
18. 2026-04-30
    status Active 366-char remark

    Show marketing remark (366 chars)

    Investor opportunity! Great location! New siding and roof in the last 6 months. Perfect time of year to update the interior of this 2 bedroom crawl space home and have it ready to sell or rent in the spring! Don't miss out on the chance to add this to or be the start of your investment portfolio! Bonus: Approximately 1 block from the elementary and middle schools!

19. 2026-04-27
    status Pending 366-char remark

    Show marketing remark (366 chars)

    Investor opportunity! Great location! New siding and roof in the last 6 months. Perfect time of year to update the interior of this 2 bedroom crawl space home and have it ready to sell or rent in the spring! Don't miss out on the chance to add this to or be the start of your investment portfolio! Bonus: Approximately 1 block from the elementary and middle schools!

20. 2026-02-23
    price $59,900 366-char remark

    Show marketing remark (366 chars)

    Investor opportunity! Great location! New siding and roof in the last 6 months. Perfect time of year to update the interior of this 2 bedroom crawl space home and have it ready to sell or rent in the spring! Don't miss out on the chance to add this to or be the start of your investment portfolio! Bonus: Approximately 1 block from the elementary and middle schools!

21. 2026-01-20
    listed $64,900 Active 366-char remark

    Show marketing remark (366 chars)

    Investor opportunity! Great location! New siding and roof in the last 6 months. Perfect time of year to update the interior of this 2 bedroom crawl space home and have it ready to sell or rent in the spring! Don't miss out on the chance to add this to or be the start of your investment portfolio! Bonus: Approximately 1 block from the elementary and middle schools!

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $885 · $74/mo
• Expected delta: +$55/yr (+$5/mo · 6.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,064
• − Mortgage interest: −$3,355
• − Property taxes: −$830
• − Insurance: −$300
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$1,743
• Taxable income: $2,227
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $2,517/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: Waterloo Community School District
• NCES district ID: 1930480
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $42,545
• Composite: 43.72/100
• National rank: #2950
• State rank: #276 of 289 in IA

Livability — Evansdale

• Score: 67/100
• State rank: #487
• US rank: #10824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evansdale, IA
• City population: 7,407
• Population (ZIP): 7,407

Population outlook (Black Hawk County) Hauer SSP2

• Today (2025): 139,716 people
• By 2030: 142,853 · +2.2%
• By 2040: 147,843 · +5.8%
• By 2050: 153,247 · +9.7%
• By 2075: 167,977 · +20.2%
• By 2100: 177,320 · +26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 8% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Iranian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Black Hawk

• 2024 margin: Toss-up / Even · D 50.0% · R 48.8% · Other 1.2%
• 2008→2024 swing: -21.3pp toward R · 2008: 22.4pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+9.0 2016: D+7.3 2012: D+20.0 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.77%
• Current HPI: 178.5926
• Rent YoY: —
• Metro: —
• 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

-7.7% since first listed

4 events — show timeline

• 2026-04-30 Relisted — NEIRBR as distributed by MLS GRID
• 2026-04-27 Pending — NEIRBR as distributed by MLS GRID
• 2026-02-23 Price Changed $59,900 NEIRBR as distributed by MLS GRID
• 2026-01-20 Listed $64,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.3%/yr

Latest (2025): $830 · +12.5% YoY. Source: county tax records.