35 Clarke Dr · Dubuque, IA 52001

$65,000

3 bd · 1.0 ba · 2,002 sqft · SingleFamily public records · 71 Days on market

Built 1855 $32/sqft · 61% below area ↓ 36% since listing

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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 +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perched above Dubuque with impressive city views, this property offers a unique setting for the right buyer. The elevated location creates a great vantage point overlooking the city, while the interior features a flexible layout with an upper-level kitchen and spacious rooms. With some work, this could be a great investment, Airbnb opportunity, or a one-of-a-kind home with a view.

Key facts

• Elevated location
• City views
• Flexible layout

Tags

• CITY VIEWS
• ELEVATED LOCATION
• FLEXIBLE LAYOUT
• UPPER-LEVEL KITCHEN
• SPACIOUS ROOMS
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.8% vs local median 3.5% in Dubuque — 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 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• This rent runs 37% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1855 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1855 — 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. 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?
6. 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.
7. 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.
8. 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: 2.89% ✓
• Cap rate: 24.78%
• Cash-on-cash: 66.03%
• DSCR: 3.94
• GRM: 2.9

CMA / ARV

• ARV (median comp): $132,317
• List price: $65,000
• Delta: -50.88%
• 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
1951 Madison St	0.17mi	3/2.5	2,106 (+5%)	6mo	$190,000	$90	72
365 Kaufmann Ave	0.39mi	3/1.5	1,918 (-4%)	5mo	$160,000	$83	68
2249 Harold St	0.52mi	3/1.5	1,906 (-5%)	3mo	$240,000	$126	64
2518 Washington St	0.64mi	3/1.5	2,000 (-0%)	7mo	$165,000	$83	62
2318 Washington St	0.43mi	4/2.0 (+1)	1,918 (-4%)	3mo	$164,000	$86	62
1567 Elm St	0.30mi	3/2.0	1,776 (-11%)	2mo	$105,000	$59	61
389 Clarke Dr	0.23mi	3/1.0	2,280 (+14%)	8mo	$110,000	$48	59
419 Clark St	0.26mi	4/2.0 (+1)	1,796 (-10%)	8mo	$209,000	$116	55
601 Angella St	0.41mi	2/2.0 (-1)	1,824 (-9%)	6mo	$177,000	$97	52
155 W 24 St	0.45mi	3/2.0	1,720 (-14%)	1mo	$85,000	$49	51
2248 Prince St	0.44mi	3/3.0	1,722 (-14%)	6mo	$173,000	$100	43
717 Rhomberg Ave	0.56mi	3/1.5	1,718 (-14%)	10mo	$168,000	$98	40

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: 68.3%
• Equity multiple: 4.21×
• Total profit: $58,410
• Equity at exit: $9,692

10-year hold

• IRR: 73.3%
• Equity multiple: 9.53×
• Total profit: $155,323
• Equity at exit: $5,620

Cash invested: $18,200 (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 52001

• Rents YoY: 5.6%
• Active inventory: 225
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$341
• Tax from tax record: −$117 /mo · $1,400/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,001

Break-even live

Break-even rent $613

Max offer price $65,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,038	-5% $1,020	+0% $1,001	+5% $983	+10% $965
Rent	-10% $853	-5% $927	+0% $1,001	+5% $1,076	+10% $1,150
Rate	-1.0pp $1,034	-0.5pp $1,018	base $1,001	+0.5pp $985	+1.0pp $967

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1199 Central Ave Unit 302 Dubuque, IA	4.0	3.0	2339	$2,850	$1.22	44d	1	0.41mi
333 E 10th St Dubuque, IA	2.0	2.0	1530	$1,750	$1.14	44d	3	0.55mi
703 Caledonia Pl Dubuque, IA	3.0	1.0	1400	$1,400	$1.00	44d	1	0.87mi
500 Hill St Unit 2 Dubuque, IA	3.0	1.0	1900	$1,910	$1.01	44d	1	0.97mi
1742 Delhi St Dubuque, IA	2.0	1.5	1534	$1,300	$0.85	44d	1	1.32mi

Listing history 20 events

1. 2026-06-19
   days on market $65,000 Active 71 DOM
2. 2026-06-18
   days on market $65,000 Active 70 DOM
3. 2026-06-17
   days on market $65,000 Active 69 DOM
4. 2026-06-16
   days on market $65,000 Active 68 DOM
5. 2026-06-15
   days on market $65,000 Active 67 DOM
6. 2026-06-14
   days on market $65,000 Active 65 DOM
7. 2026-06-13
   days on market $65,000 Active 64 DOM
8. 2026-06-10
   days on market $65,000 Active 62 DOM
9. 2026-06-09
   days on market $65,000 Active 61 DOM
10. 2026-06-08
    days on market $65,000 Active 60 DOM
11. 2026-06-07
    days on market $65,000 Active 59 DOM
12. 2026-06-05
    days on market $65,000 Active 56 DOM
13. 2026-06-03
    days on market $65,000 Active 55 DOM
14. 2026-06-02
    days on market $65,000 Active 54 DOM
15. 2026-06-01
    days on market $65,000 Active 53 DOM
16. 2026-05-31
    days on market $65,000 Active 52 DOM
17. 2026-05-30
    days on market $65,000 Active 51 DOM
18. 2026-05-13
    price $65,000 383-char remark

    Show marketing remark (383 chars)

    Perched above Dubuque with impressive city views, this property offers a unique setting for the right buyer. The elevated location creates a great vantage point overlooking the city, while the interior features a flexible layout with an upper-level kitchen and spacious rooms. With some work, this could be a great investment, Airbnb opportunity, or a one-of-a-kind home with a view.

19. 2026-04-09
    listed $81,900 Active 383-char remark

    Show marketing remark (383 chars)

    Perched above Dubuque with impressive city views, this property offers a unique setting for the right buyer. The elevated location creates a great vantage point overlooking the city, while the interior features a flexible layout with an upper-level kitchen and spacious rooms. With some work, this could be a great investment, Airbnb opportunity, or a one-of-a-kind home with a view.

20. 2023-03-21
    soldstatus $101,900

ⓘ 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: $1,400 · $117/mo
• Projected year-2 tax: $1,400 · $117/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $22,573
• − Mortgage interest: −$3,641
• − Property taxes: −$1,400
• − Insurance: −$325
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − Depreciation: −$1,891
• Taxable income: $11,705
• Est. tax owed @ 24.0%: −$2,809
• After-tax cash flow: $9,208/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: Dubuque Community School District
• NCES district ID: 1909480
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $51,237
• Composite: 54.51/100
• National rank: #1345
• State rank: #205 of 289 in IA

Livability — Dubuque

• Score: 89/100
• State rank: #7
• US rank: #119

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C- Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dubuque, IA
• County: Dubuque County · 60,106 people
• City population: 60,106
• Metro: Dubuque, IA
• Population (ZIP): 43,101
• Household income: $61,643
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1940.0

Population outlook (Dubuque County) Hauer SSP2

• Today (2025): 103,359 people
• By 2030: 106,472 · +3.0%
• By 2040: 112,043 · +8.4%
• By 2050: 116,553 · +12.8%
• By 2075: 128,014 · +23.9%
• By 2100: 132,892 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 1% Pacific Islander 1%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Dubuque

• 2024 margin: Lean R (+8.6) · D 45.1% · R 53.7% · Other 1.2%
• 2008→2024 swing: -29.4pp toward R · 2008: 20.8pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+1.2 2012: D+14.5 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.36%
• Current HPI: 173.5536
• Rent YoY: ▲ 5.63%
• Metro: Dubuque, 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

-36.2% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $65,000 ECIMLS
• 2026-04-09 Listed $81,900 ECIMLS
• 2023-03-21 Sold (Public Records) $101,900 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,400 · +3.1% YoY. Source: county tax records.