202 W Poplar St · Bloomfield, IA 52537

$107,500

3 bd · 2.0 ba · 2,032 sqft · MultiFamily public records · 36 Days on market

Built 1900 9,000 sqft lot $53/sqft · 36% below area Est $167k · 36% under

---

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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.7/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Gorgeous 2 Apartments. 1 Bedroom/1 Bath Upstairs and 2 Bedroom/1 Bath on Main Floor. Monthly Rent = $900 + utilities and maintenance. Very Nice Apartments on Quiet Street. Must See!

Key facts

• 9,000 sq ft lot
• Built 1900
• Listed 36 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Two levels; Single-family residence; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Corner lot; Lot dimensions 90 x 100

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Fireplace (1)

🏷️ Possibly a rental listed for sale. The $107,500 price doesn't fit this home's estimated sale value (~$167,438) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $108k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.9% in Bloomfield — 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 77/100 on livability (#159 in IA, #2,887 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Davis County Community School District (rural): math 59% / reading 63% proficiency, ranked #236 of 289 in IA (top 82%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Davis County Elementary (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 480 students, 48% FRL); Davis County Middle School (math 63% / reading 64%, grade B+, #169 of 246 statewide, top 69%, 356 students, 46% FRL); Davis County Community High School (math 51% / reading 65%, grade C, #275 of 336 statewide, top 83%, 408 students, 38% FRL).
• Market conditions: 44 active listings in the ZIP; 2 units permitted in Davis County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Davis County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $70k; list at $108k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,275 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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 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: 1.17% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.1

CMA / ARV

• ARV (median comp): $167,438
• List price: $107,500
• Delta: -35.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,553
• Equity at exit: $16,029

10-year hold

• IRR: 7.5%
• Equity multiple: 1.56×
• Total profit: $16,996
• Equity at exit: $9,295

Cash invested: $30,100 (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 52537

• Home prices YoY: -6.9%
• Active inventory: 44
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$564
• Tax from tax record: −$148 /mo · $1,782/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $233

Break-even live

Break-even rent $958

Max offer price $107,500

Occupancy floor 76%

Sensitivity live

Price	-10% $294	-5% $263	+0% $233	+5% $203	+10% $172
Rent	-10% $134	-5% $183	+0% $233	+5% $282	+10% $332
Rate	-1.0pp $287	-0.5pp $260	base $233	+0.5pp $205	+1.0pp $177

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-12
   statusdays on market $107,500 Pending 36 DOM
2. 2026-06-09
   days on market $107,500 Active Under Contract 35 DOM
3. 2026-06-08
   days on market $107,500 Active Under Contract 34 DOM
4. 2026-06-07
   days on market $107,500 Active Under Contract 33 DOM
5. 2026-06-07
   days on market $107,500 Active Under Contract 32 DOM
6. 2026-06-04
   days on market $107,500 Active Under Contract 29 DOM
7. 2026-06-02
   days on market $107,500 Active Under Contract 28 DOM
8. 2026-06-01
   days on market $107,500 Active Under Contract 27 DOM
9. 2026-05-31
   days on market $107,500 Active Under Contract 26 DOM
10. 2026-05-31
    days on market $107,500 Active Under Contract 25 DOM
11. 2026-05-05
    listed $107,500 Active 958-char remark
12. 2021-11-04
    soldstatus $70,000
13. 2021-10-29
    soldstatus $70,000 181-char remark

    Show marketing remark (181 chars)

    Gorgeous 2 Apartments. 1 Bedroom/1 Bath Upstairs and 2 Bedroom/1 Bath on Main Floor. Monthly Rent = $900 + utilities and maintenance. Very Nice Apartments on Quiet Street. Must See!

14. 2021-09-03
    listed $74,900 181-char remark

    Show marketing remark (181 chars)

    Gorgeous 2 Apartments. 1 Bedroom/1 Bath Upstairs and 2 Bedroom/1 Bath on Main Floor. Monthly Rent = $900 + utilities and maintenance. Very Nice Apartments on Quiet Street. Must See!

15. 2020-12-04
    soldstatus $60,000

    Show marketing remark (151 chars)

    Great investment! Clean, Well Maintained Duplex on Corner Lot. Upstairs 1 Bedroom, Main floor 1-2 bedroom. Newer Roof, Furnace and Electrical upstairs.

16. 2020-09-28
    listed $69,900

    Show marketing remark (151 chars)

    Great investment! Clean, Well Maintained Duplex on Corner Lot. Upstairs 1 Bedroom, Main floor 1-2 bedroom. Newer Roof, Furnace and Electrical upstairs.

ⓘ 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: $1,782 · $148/mo
• Projected year-2 tax: $1,782 · $148/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $15,038
• − Mortgage interest: −$6,022
• − Property taxes: −$1,782
• − Insurance: −$538
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$3,127
• Taxable income: $1,164
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $2,516/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: Davis County Community School District
• NCES district ID: 1908610
• Math proficiency: 59% ▼ -8.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $48,810
• Composite: 51.78/100
• National rank: #1674
• State rank: #236 of 289 in IA

Livability — Bloomfield

• Score: 77/100
• State rank: #159
• US rank: #2887

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomfield, IA
• Population (ZIP): 7,012

Population outlook (Davis County) Hauer SSP2

• Today (2025): 8,553 people
• By 2030: 8,396 · -1.8%
• By 2040: 8,139 · -4.8%
• By 2050: 7,799 · -8.8%
• By 2075: 6,614 · -22.7%
• By 2100: 5,053 · -40.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Polish 3% Iranian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 79% English-only · German/W. Germanic 18% Spanish 3%

Political lean MEDSL · Davis

• 2024 margin: Solid R (+54.4) · D 22.2% · R 76.6% · Other 1.1%
• 2008→2024 swing: -45.3pp toward R · 2008: -9.1pp · 2024: -54.4pp
• All cycles: 2024: R+54.4 2020: R+49.2 2016: R+45.2 2012: R+16.4 2008: R+9.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.90%
• Current HPI: 254.7291
• 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

+53.8% since first listed

8 events — show timeline

• 2026-06-10 Pending — IAR
• 2026-05-22 Contingent — IAR
• 2026-05-05 Listed $107,500 IAR
• 2021-11-04 Sold (Public Records) $70,000 Public Records
• 2021-10-29 Sold (MLS) $70,000 IAR
• 2021-09-03 Listed $74,900 IAR
• 2020-12-04 Sold (MLS) $60,000 IAR
• 2020-09-28 Listed $69,900 IAR

Property tax history

+2.0%/yr

Latest (2025): $1,782 · +5.8% YoY. Source: county tax records.