829 3rd Ave · Council Bluffs, IA 51501

$119,900

4 bd · 1.0 ba · 672 sqft · SingleFamily public records · 6 Days on market

Built 1910 2,640 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NO FURTHER SHOWINGS, ACCEPTED OFFER IN THE PROCESS. Spacious 4-bedroom, 2-bath home, with a full usable basement, offers an incredible amount of space for the price! A little TLC, and maintenance will go a long way- the projects already started with an updated front façade. Off-street parking. While the location places you in the heart of the Historic District and within the Bayliss West Neighborhood, with a forward looking future. Enjoy easy access to local restaurants, parks, hardware stores, furniture shops, schools, auto repair and maintenance services, and countless everyday conveniences- highly walkable location, this home offers outstanding value and opportunity! Note this lis

Key facts

• Off street parking
• Full usable basement
• Updated front facade

Tags

• FULL USABLE BASEMENT
• UPDATED FRONT FACADE
• OFF STREET PARKING
• HISTORIC DISTRICT
• HIGHLY WALKABLE LOCATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Natural gas available; Electricity available; Public sewer
• Home design: Single-family residence; 2-story
• Construction: Frame and stucco construction; Composition roof; Full basement
• Exterior features: Front porch; Lot roughly 33 x 80

Interior

• Heating & cooling: Natural gas forced-air heating; No central cooling
• Interior features: Other interior features
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 10.5% vs local median 3.3% in Council Bluffs — 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 70/100 on livability (#368 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, amenities D, crime D-.
• Council Bluffs Community School District (urban): math 52% / reading 55% proficiency, ranked #272 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bloomer Elementary School (math 47% / reading 47%, grade D-, #530 of 616 statewide, top 88%, 422 students, 71% FRL); Gerald W Kirn Middle School (math 50% / reading 61%, grade B-, #199 of 246 statewide, top 81%, 956 students, 54% FRL); Abraham Lincoln High School (math 52% / reading 62%, grade C, #279 of 336 statewide, top 85%, 1,399 students, 52% FRL).
• Market conditions: Rents flat; 140 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pottawattamie County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $38k; list at $120k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.31% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.56% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,302
• Equity at exit: $17,877

10-year hold

• IRR: 9.7%
• Equity multiple: 1.66×
• Total profit: $22,315
• Equity at exit: $10,367

Cash invested: $33,572 (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 51501

• Rents YoY: 0.6%
• Active inventory: 140
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,576 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$150 /mo · $1,806/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $416

Break-even live

Break-even rent $1,050

Max offer price $119,900

Occupancy floor 69%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 23rd Ave Council Bluffs, IA	3.0	1.0	720	$1,675	$2.33	1d	1	1.39mi

Listing history 6 events

1. 2026-06-15
   status $119,900 Pending 6 DOM
2. 2026-06-15
   days on market $119,900 Active 6 DOM
3. 2026-06-13
   remarks 692-char remark
4. 2026-06-13
   days on market $119,900 Active 4 DOM
5. 2026-06-10
   remarks 626-char remark
6. 2026-06-10
   listed $119,900 Active 1 DOM

ⓘ 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: $1,806 · $150/mo
• Projected year-2 tax: $1,844 · $154/mo
• Expected delta: +$38/yr (+$3/mo · 2.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°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: $18,912
• − Mortgage interest: −$6,716
• − Property taxes: −$1,806
• − Insurance: −$600
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$3,488
• Taxable income: $3,276
• Est. tax owed @ 24.0%: −$786
• After-tax cash flow: $4,204/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: Council Bluffs Community School District
• NCES district ID: 1908220
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $45,259
• Composite: 45.23/100
• National rank: #2665
• State rank: #272 of 289 in IA

Livability — Council Bluffs

• Score: 70/100
• State rank: #368
• US rank: #7695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Bluffs, IA
• County: Pottawattamie County · 72,590 people
• City population: 72,590
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 34,618
• Household income: $59,843
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1110.0

Population outlook (Pottawattamie County) Hauer SSP2

• Today (2025): 93,683 people
• By 2030: 92,772 · -1.0%
• By 2040: 89,917 · -4.0%
• By 2050: 86,994 · -7.1%
• By 2075: 82,756 · -11.7%
• By 2100: 79,097 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 8% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 2% Romanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Pottawattamie

• 2024 margin: R (+20.0) · D 39.3% · R 59.3% · Other 1.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -1.9pp · 2024: -20.0pp
• All cycles: 2024: R+20.0 2020: R+16.8 2016: R+21.6 2012: R+5.8 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.49%
• Current HPI: 215.2532
• Rent YoY: ▲ 0.56%
• Metro: Omaha-Council Bluffs, NE-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

+101.5% since first listed

9 events — show timeline

• 2026-05-07 Listed $119,900 SWIAR
• 2021-09-13 Sold (Public Records) $38,000 Public Records
• 2021-09-01 Listing Removed — GPRMLS
• 2021-07-12 Price Changed $90,000 GPRMLS
• 2021-06-11 Listed $90,000 SWIAR
• 2021-06-11 Listed $95,000 GPRMLS
• 2021-04-08 Sold (Public Records) $60,000 Public Records
• 2002-07-26 Sold (MLS) $58,000 SWIAR
• 2002-05-20 Listed $59,500 SWIAR

Property tax history

+2.7%/yr

Latest (2025): $1,806 · +20.4% YoY. Source: county tax records.