122 Doyle Ave · Evansdale, IA 50707

$35,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 1 Days on market

Built 1950 7,500 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Three Bedroom, One Bath Home with a full basement that is priced below assessed value. It has a nice sized back yard with a single stall garage. This property is a great opportunity for investors, or someone looking to put work into it to add to their rental property portfolio.

Key facts

• Back yard
• Single stall garage
• Full basement

Tags

• FULL BASEMENT
• BACK YARD
• SINGLE STALL GARAGE

Property features AI

Exterior

• Parking: Detached carport; 1 carport space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Zoning: R-2
• Construction: Aluminum siding; Shingle roof; Basement: unfinished block, interior entry, sump pump
• Exterior features: Gravel road access

Interior

• Kitchen: Free-standing range; Refrigerator; Vented exhaust fan
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Exhaust fan ventilation; No central cooling
• Interior features: Eat-in kitchen
• Laundry & utility: Laundry on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($882 rent vs $35k).
• Cap rate 20.4% 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.
• Zoned schools: Poyner Elementary (math 62% / reading 57%, grade B-, #390 of 616 statewide, top 69%, 362 students, 69% FRL); Bunger Middle School (math 48% / reading 47%, grade C-, #226 of 246 statewide, top 92%, 431 students, 75% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL).
• 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.52% ✓
• Cap rate: 20.45%
• Cash-on-cash: 50.56%
• DSCR: 3.25
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $105,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 Fox Avenue Ave	0.10mi	2/1.0 (-1)	807 (+12%)	1mo	$161,000	$200	69
620 Brookside Ave	0.14mi	2/1.0 (-1)	728 (+1%)	23mo	$121,000	$166	68
839 Home Acres	0.10mi	2/1.0 (-1)	668 (-7%)	16mo	$110,000	$165	65
602 Home Acres Ave	0.27mi	2/1.0 (-1)	704 (-2%)	23mo	$65,000	$92	59
611 East End Ave	0.47mi	2/1.0 (-1)	660 (-8%)	1mo	$68,000	$103	58
1101 Brookside Ave	0.61mi	2/1.0 (-1)	748 (+4%)	6mo	$110,000	$147	55
843 Evans Rd	0.20mi	2/1.0 (-1)	672 (-7%)	24mo	$78,000	$116	55
602 East End Ave	0.44mi	2/1.0 (-1)	768 (+7%)	13mo	$114,500	$149	52
226 Wema Ave	0.43mi	2/1.0 (-1)	624 (-13%)	8mo	$89,900	$144	47
317 Evans Rd	0.52mi	2/1.0 (-1)	766 (+6%)	19mo	$113,000	$148	44
1114 Lake Ave	0.36mi	2/1.0 (-1)	616 (-14%)	17mo	$85,000	$138	40
455 Morrell Ave	0.61mi	2/1.0 (-1)	616 (-14%)	9mo	$37,400	$61	35

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: 48.4%
• Equity multiple: 3.11×
• Total profit: $20,663
• Equity at exit: $5,219

10-year hold

• IRR: 54.0%
• Equity multiple: 6.31×
• Total profit: $52,013
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.3×

Monthly cashflow live

• Estimated rent: $882 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $413

Break-even live

Break-even rent $360

Max offer price $35,000

Occupancy floor 48%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 Payne St Evansdale, IA	2.0	1.0	640	$900	$1.41	43d	1	0.22mi
136 Earl St Evansdale, IA	2.0	1.0	702	$795	$1.13	21d	1	1.18mi

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-11
   listed $35,000 Active

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,032 · $86/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $10,587
• − Mortgage interest: −$1,961
• − Property taxes: −$1,032
• − Insurance: −$175
• − Repairs & maintenance: −$847
• − Management: −$847
• − Depreciation: −$1,018
• Taxable income: $4,708
• Est. tax owed @ 24.0%: −$1,130
• After-tax cash flow: $3,825/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

2 events — show timeline

• 2026-05-12 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-11 Listed $35,000 NEIRBR as distributed by MLS GRID

Property tax history

+2.2%/yr

Latest (2025): $1,032 · +12.7% YoY. Source: county tax records.