2610 Mcclain Drive Dr · Cedar Falls, IA 50613

$249,900

3 bd · 1.5 ba · 1,498 sqft · SingleFamily public records · 74 Days on market

Built 1954 0.44 ac lot $167/sqft · 20% above area Est $274k · 9% under

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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 +11.5/15.0
• Cash flow +7.1/30.0
• Schools +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 2610 McClain Drive in Cedar Falls. A beautifully maintained corner-lot property tucked into a quiet, mature neighborhood with the convenience of being just minutes from shopping, restaurants, gyms and everything Cedar Falls has to offer. This charming 3-bedroom, 1.5-bath home features a functional layout with all three bedrooms located together on the main level, along with a spacious full bathroom. The kitchen is full of character and offers plenty of space for cooking and gathering. The conveniently located half bath sits perfectly between the kitchen, living room and dining room. The large living room and dining room is filled with natural light and offers sliding glass doors leading out to a multi-level deck, perfect for entertaining or enjoying the peaceful backyard setting. One of the standout features of the home is the sunroom, surrounded by windows and offering a relaxing space to unwind year-round. Downstairs, you’ll find a versatile flex space ideal for a family room, home office or potential 4th bedroom. The lower level also has a dedicated laundry room and an abundance of storage. Outside, enjoy mature landscaping and a massive yard with plenty of room to play, garden, or entertain. The home also includes a 2-stall attached tuck-under garage, offering convenience and extra storage. If you’re looking for a home that offers both privacy and location, 2610 McClain Drive is the perfect match.

Key facts

• 0.44 acre lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (25.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (31.8% below list).
• Recommended offer: $170k (31.8% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.1% in Cedar Falls — 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 81/100 on livability (#60 in IA, #1,357 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Cedar Falls Community School District (urban): math 76% / reading 79% proficiency, ranked #45 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.0%/yr); 387 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,452 (31.8% 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 74 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — 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: 0.68% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.15%
• DSCR: 0.73
• GRM: 12.2

CMA / ARV

• ARV (median comp): $274,291
• List price: $249,900
• Delta: -8.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3004 Mcclain Dr	0.24mi	3/2.0	1,524 (+2%)	2mo	$254,500	$167	82
2021 Grand Blvd Blvd	0.45mi	3/1.5	1,480 (-1%)	2mo	$270,000	$182	76
2804 Sunny Ln	0.29mi	3/2.0	1,633 (+9%)	1mo	$258,000	$158	69
1916 Rainbow Dr	0.42mi	2/1.5 (-1)	1,446 (-4%)	2mo	$195,000	$135	68
1117 E Seerley Blvd	0.45mi	3/2.0	1,600 (+7%)	1mo	$224,900	$141	65
1917 Victory Dr	0.46mi	3/2.0	1,585 (+6%)	3mo	$198,000	$125	64
1204 Sunnyside Cir	0.46mi	4/1.5 (+1)	1,577 (+5%)	1mo	$230,000	$146	63
1139 Madison St	0.51mi	2/1.0 (-1)	1,448 (-3%)	1mo	$227,000	$157	63
1421 Rainbow Dr	0.50mi	2/1.0 (-1)	1,430 (-4%)	2mo	$189,900	$133	60
920 Royal Dr	0.59mi	3/1.5	1,388 (-7%)	3mo	$219,900	$158	58
2519 Valley Park Dr	0.69mi	4/2.0 (+1)	1,513 (+1%)	2mo	$241,000	$159	58
912 Melrose Drive Dr	0.63mi	4/2.0 (+1)	1,722 (+15%)	3mo	$250,500	$145	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 · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.07×
• Total profit: $-65,089
• Equity at exit: $37,261

10-year hold

• IRR: -31.1%
• Equity multiple: -0.33×
• Total profit: $-93,089
• Equity at exit: $21,607

Cash invested: $69,972 (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 50613

• Rents YoY: 2.0%
• Active inventory: 387
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$291 /mo · $3,490/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-359

Break-even live

Break-even rent $2,159

Max offer price $186,501

Occupancy floor —

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2110 Melrose Ct Cedar Falls, IA	4.0	2.0	1100	$1,250	$1.14	21d	1	0.84mi
3856 Jay Ln Waterloo, IA	3.0	3.5	1520	$1,975	$1.30	44d	1	1.10mi
1915 Main St Cedar Falls, IA	2.0	1.0	960	$1,050	$1.09	44d	1	1.22mi
725 Melendy Ln Cedar Falls, IA	3.0	2.0	1526	$2,800	$1.83	44d	1	1.27mi
4606 Chadwick Rd #11 Cedar Falls, IA	2.0	2.0	1054	$1,500	$1.42	44d	1	1.33mi
1003 Bluegrass Cir Cedar Falls, IA	2.0	2.0	1054	$1,575	$1.49	21d	13	1.40mi
1803 Franklin St Unit 1803 Cedar Falls, IA	4.0	1.0	1200	$1,400	$1.17	44d	1	1.43mi
825 Bluegrass Cir Cedar Falls, IA	1.0–2.0	1.0–2.0	868	$1,950	$2.25	21d	1	1.43mi
825 Bluegrass Cir Unit 213 Cedar Falls, IA	2.0	1.5	913	$1,760	$1.93	44d	1	1.43mi
604 W Seerley Blvd Cedar Falls, IA	4.0	1.5	1600	$1,300	$0.81	21d	1	1.45mi

Listing history 19 events

1. 2026-06-19
   days on market $249,900 Active 74 DOM
2. 2026-06-18
   days on market $249,900 Active 73 DOM
3. 2026-06-17
   days on market $249,900 Active 72 DOM
4. 2026-06-16
   days on market $249,900 Active 71 DOM
5. 2026-06-15
   days on market $249,900 Active 70 DOM
6. 2026-06-14
   days on market $249,900 Active 68 DOM
7. 2026-06-13
   days on market $249,900 Active 67 DOM
8. 2026-06-10
   days on market $249,900 Active 65 DOM
9. 2026-06-09
   days on market $249,900 Active 64 DOM
10. 2026-06-08
    days on market $249,900 Active 63 DOM
11. 2026-06-07
    days on market $249,900 Active 62 DOM
12. 2026-06-05
    days on market $249,900 Active 59 DOM
13. 2026-06-03
    days on market $249,900 Active 58 DOM
14. 2026-06-02
    days on market $249,900 Active 57 DOM
15. 2026-06-01
    days on market $249,900 Active 56 DOM
16. 2026-05-31
    days on market $249,900 Active 55 DOM
17. 2026-05-30
    days on market $249,900 Active 54 DOM
18. 2026-04-06
    listed $249,900 Active 1452-char remark

    Show marketing remark (1452 chars)

    Welcome home to 2610 McClain Drive in Cedar Falls. A beautifully maintained corner-lot property tucked into a quiet, mature neighborhood with the convenience of being just minutes from shopping, restaurants, gyms and everything Cedar Falls has to offer. This charming 3-bedroom, 1.5-bath home features a functional layout with all three bedrooms located together on the main level, along with a spacious full bathroom. The kitchen is full of character and offers plenty of space for cooking and gathering. The conveniently located half bath sits perfectly between the kitchen, living room and dining room. The large living room and dining room is filled with natural light and offers sliding glass doors leading out to a multi-level deck, perfect for entertaining or enjoying the peaceful backyard setting. One of the standout features of the home is the sunroom, surrounded by windows and offering a relaxing space to unwind year-round. Downstairs, you’ll find a versatile flex space ideal for a family room, home office or potential 4th bedroom. The lower level also has a dedicated laundry room and an abundance of storage. Outside, enjoy mature landscaping and a massive yard with plenty of room to play, garden, or entertain. The home also includes a 2-stall attached tuck-under garage, offering convenience and extra storage. If you’re looking for a home that offers both privacy and location, 2610 McClain Drive is the perfect match.

19. 2012-09-19
    soldstatus $180,000

ⓘ 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: $3,490 · $291/mo
• Projected year-2 tax: $3,707 · $309/mo
• Expected delta: +$217/yr (+$18/mo · 6.2%)

ⓘ 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 2/10 Low 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: $20,454
• − Mortgage interest: −$13,998
• − Property taxes: −$3,490
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − Depreciation: −$7,270
• Taxable loss: −$8,826
• Est. tax savings @ 24.0%: +$2,118
• After-tax cash flow: $-2,188/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: Cedar Falls Community School District
• NCES district ID: 1906510
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 79% ▼ -2.00%
• Median HH income: $53,634
• Composite: 65.93/100
• National rank: #443
• State rank: #45 of 289 in IA

Livability — Cedar Falls

• Score: 81/100
• State rank: #60
• US rank: #1357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Falls, IA
• County: Black Hawk County · 112,933 people
• City population: 43,867
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 43,867
• Household income: $78,503
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1514.0

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 (90%)
• Race & ethnicity: White 90% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Italian 3% Iranian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -175.51%
• Current HPI: 169.0591
• Rent YoY: ▲ 1.97%
• Metro: Waterloo-Cedar Falls, 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

+38.8% since first listed

2 events — show timeline

• 2026-04-06 Listed $249,900 NEIRBR as distributed by MLS GRID
• 2012-09-19 Sold (Public Records) $180,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,490 · +3.1% YoY. Source: county tax records.