419 Peterson St · Iowa City, IA 52245

$152,900

2 bd · 2.0 ba · 1,026 sqft · Condo public records · 4 Days on market

Built 1972 $300/mo HOA · 19% of rent

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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).

• Cash flow +8.3/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.4/10.0
• Livability +4.3/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated east-side condo offering comfort, convenience, and peace of mind. This home features hardwood floors throughout the main living areas and a bright, open layout with fresh paint and modern updates. Key improvements include a furnace, A/C unit, and windows, replaced in 2017. The roof was replaced following the derecho, adding long-term durability. The fireplace was cleaned and inspected in 2024 for added safety. The kitchen and living areas are functional and inviting, with all appliances included. Recent updates also include a newer washer and dryer (2024) and new ceiling fans in the bedrooms. Two dedicated parking spaces and HOA-maintained decks add to the ease of ownership. A well-maintained, move-in-ready condo in a desirable location, perfect for homeowners.

Key facts

• Roof
• Windows
• Furnace

Tags

• HARDWOOD FLOORS
• FURNACE
• A C UNIT
• WINDOWS
• ROOF
• FIREPLACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $153k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (16.0% below list).
• Meets the 1% rule at list price ($2k rent vs $153k).
• Recommended offer: $128k (16.0% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 2.7% in Iowa City — 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert Lucas Elementary School (math 52% / reading 57%, grade C, #462 of 616 statewide, top 79%, 285 students, 44% FRL); Southeast Junior High School (math 64% / reading 68%, grade A-, #152 of 246 statewide, top 62%, 812 students, 50% FRL); Iowa City High School (math 62% / reading 73%, grade B, #186 of 336 statewide, top 57%, 1,599 students, 40% FRL).
• Market conditions: Rents rising fast (+6.0%/yr); 204 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 11y 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.

Recommended offer $128,398 (16.0% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.04% ✓
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.33×
• Total profit: $-28,482
• Equity at exit: $22,798

10-year hold

• IRR: -4.2%
• Equity multiple: 0.68×
• Total profit: $-13,881
• Equity at exit: $13,220

Cash invested: $42,812 (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 52245

• Rents YoY: 6.0%
• Active inventory: 204
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,591 medium
• Mortgage (P&I): −$802
• Tax from tax record: −$230 /mo · $2,760/yr
• Insurance: −$64
• HOA: −$300
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $-139

Break-even live

Break-even rent $1,766

Max offer price $128,398

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: $38,225
• Closing costs: $4,587
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3432 Eastbrook St Iowa City, IA	3.0	2.0–2.5	1874	$2,000	$1.07	13d	1	0.41mi
49 Arbor Hill Cir #23 Iowa City, IA	2.0	2.0	1128	$1,215	$1.08	43d	1	0.65mi
2300 Catskill Ct Iowa City, IA	3.0	2.0	1456	$1,850	$1.27	43d	1	0.66mi
2100 S Scott Blvd Unit 66 Iowa City, IA	3.0	2.0	1216	$1,199	$0.99	21d	1	1.22mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-04-28
   status Pending 791-char remark

   Show marketing remark (791 chars)

   Beautifully updated east-side condo offering comfort, convenience, and peace of mind. This home features hardwood floors throughout the main living areas and a bright, open layout with fresh paint and modern updates. Key improvements include a furnace, A/C unit, and windows, replaced in 2017. The roof was replaced following the derecho, adding long-term durability. The fireplace was cleaned and inspected in 2024 for added safety. The kitchen and living areas are functional and inviting, with all appliances included. Recent updates also include a newer washer and dryer (2024) and new ceiling fans in the bedrooms. Two dedicated parking spaces and HOA-maintained decks add to the ease of ownership. A well-maintained, move-in-ready condo in a desirable location, perfect for homeowners.

2. 2026-04-28
   status Pending

   Show marketing remark (791 chars)

   Beautifully updated east-side condo offering comfort, convenience, and peace of mind. This home features hardwood floors throughout the main living areas and a bright, open layout with fresh paint and modern updates. Key improvements include a furnace, A/C unit, and windows, replaced in 2017. The roof was replaced following the derecho, adding long-term durability. The fireplace was cleaned and inspected in 2024 for added safety. The kitchen and living areas are functional and inviting, with all appliances included. Recent updates also include a newer washer and dryer (2024) and new ceiling fans in the bedrooms. Two dedicated parking spaces and HOA-maintained decks add to the ease of ownership. A well-maintained, move-in-ready condo in a desirable location, perfect for homeowners.

3. 2026-04-23
   listed $152,900 Active 791-char remark

   Show marketing remark (791 chars)

   Beautifully updated east-side condo offering comfort, convenience, and peace of mind. This home features hardwood floors throughout the main living areas and a bright, open layout with fresh paint and modern updates. Key improvements include a furnace, A/C unit, and windows, replaced in 2017. The roof was replaced following the derecho, adding long-term durability. The fireplace was cleaned and inspected in 2024 for added safety. The kitchen and living areas are functional and inviting, with all appliances included. Recent updates also include a newer washer and dryer (2024) and new ceiling fans in the bedrooms. Two dedicated parking spaces and HOA-maintained decks add to the ease of ownership. A well-maintained, move-in-ready condo in a desirable location, perfect for homeowners.

4. 2026-04-23
   listed $152,900 Active

   Show marketing remark (791 chars)

   Beautifully updated east-side condo offering comfort, convenience, and peace of mind. This home features hardwood floors throughout the main living areas and a bright, open layout with fresh paint and modern updates. Key improvements include a furnace, A/C unit, and windows, replaced in 2017. The roof was replaced following the derecho, adding long-term durability. The fireplace was cleaned and inspected in 2024 for added safety. The kitchen and living areas are functional and inviting, with all appliances included. Recent updates also include a newer washer and dryer (2024) and new ceiling fans in the bedrooms. Two dedicated parking spaces and HOA-maintained decks add to the ease of ownership. A well-maintained, move-in-ready condo in a desirable location, perfect for homeowners.

5. 2024-05-15
   soldstatus $145,000
6. 2024-05-14
   soldstatus $145,000 Closed 951-char remark

   Show marketing remark (951 chars)

   At this price point, it's rare to find a property as updated as this one. A perfect blend of modern upgrades and potential for adding your personal touch, making it not just a home but a wise investment. Enjoy the convenience, ample space, desirable location, and abundant natural light that this east side condo offers, having undergone a comprehensive renovation less than a decade ago. Step into a kitchen with updated countertops, stylish subway tile backsplash, and durable porcelain tile flooring. The living spaces and bedrooms boast beautiful oak floors. AC & Furnace installed in 2017. The bathrooms have been transformed with modern vanities, tiled shower surrounds, and updated flooring, enhancing the overall appeal. Significantly, the building has received substantial updates from the association, including new windows, siding, and roofing between 2015 and 2016, ensuring peace of mind for residents. Two parking spaces available.

7. 2024-03-23
   status Pending 951-char remark

   Show marketing remark (951 chars)

   At this price point, it's rare to find a property as updated as this one. A perfect blend of modern upgrades and potential for adding your personal touch, making it not just a home but a wise investment. Enjoy the convenience, ample space, desirable location, and abundant natural light that this east side condo offers, having undergone a comprehensive renovation less than a decade ago. Step into a kitchen with updated countertops, stylish subway tile backsplash, and durable porcelain tile flooring. The living spaces and bedrooms boast beautiful oak floors. AC & Furnace installed in 2017. The bathrooms have been transformed with modern vanities, tiled shower surrounds, and updated flooring, enhancing the overall appeal. Significantly, the building has received substantial updates from the association, including new windows, siding, and roofing between 2015 and 2016, ensuring peace of mind for residents. Two parking spaces available.

8. 2024-03-23
   listed $145,000 Active 951-char remark

   Show marketing remark (951 chars)

   At this price point, it's rare to find a property as updated as this one. A perfect blend of modern upgrades and potential for adding your personal touch, making it not just a home but a wise investment. Enjoy the convenience, ample space, desirable location, and abundant natural light that this east side condo offers, having undergone a comprehensive renovation less than a decade ago. Step into a kitchen with updated countertops, stylish subway tile backsplash, and durable porcelain tile flooring. The living spaces and bedrooms boast beautiful oak floors. AC & Furnace installed in 2017. The bathrooms have been transformed with modern vanities, tiled shower surrounds, and updated flooring, enhancing the overall appeal. Significantly, the building has received substantial updates from the association, including new windows, siding, and roofing between 2015 and 2016, ensuring peace of mind for residents. Two parking spaces available.

9. 2017-09-14
   soldstatus $125,100
10. 2017-08-22
    soldstatus $125,000
11. 2017-08-22
    soldstatus $125,000
12. 2017-07-20
    listed $125,000
13. 2017-07-20
    listed $125,000
14. 2015-07-30
    soldstatus $90,000
15. 2015-07-07
    soldstatus $89,900
16. 2015-07-07
    soldstatus $89,900
17. 2015-05-03
    listed $89,900
18. 2015-05-03
    listed $89,900
19. 2007-10-18
    soldstatus $96,000
20. 2004-07-12
    soldstatus $92,000

ⓘ 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: $2,760 · $230/mo
• Projected year-2 tax: $2,760 · $230/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 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: $19,091
• − Mortgage interest: −$8,565
• − Property taxes: −$2,760
• − Insurance: −$764
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − HOA: −$3,600
• − Depreciation: −$4,448
• Taxable loss: −$4,101
• Est. tax savings @ 24.0%: +$984
• After-tax cash flow: $-680/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,853
• Household income: $78,020
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1268.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 4% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.41%
• Current HPI: 164.751
• Rent YoY: ▲ 5.97%
• Metro: Iowa City, 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

+66.2% since first listed

20 events — show timeline

• 2026-04-28 Pending — CRAAR, CDRMLS
• 2026-04-28 Pending — ICAARMLS
• 2026-04-23 Listed $152,900 CRAAR, CDRMLS
• 2026-04-23 Listed $152,900 ICAARMLS
• 2024-05-15 Sold (Public Records) $145,000 Public Records
• 2024-05-14 Sold (MLS) $145,000 ICAARMLS
• 2024-03-23 Pending — ICAARMLS
• 2024-03-23 Listed $145,000 ICAARMLS
• 2017-09-14 Sold (Public Records) $125,100 Public Records
• 2017-08-22 Sold (MLS) $125,000 CRAAR, CDRMLS
• 2017-08-22 Sold (MLS) $125,000 ICAARMLS
• 2017-07-20 Listed $125,000 CRAAR, CDRMLS
• 2017-07-20 Listed $125,000 ICAARMLS
• 2015-07-30 Sold (Public Records) $90,000 Public Records
• 2015-07-07 Sold (MLS) $89,900 CRAAR, CDRMLS
• 2015-07-07 Sold (MLS) $89,900 ICAARMLS
• 2015-05-03 Listed $89,900 CRAAR, CDRMLS
• 2015-05-03 Listed $89,900 ICAARMLS
• 2007-10-18 Sold (Public Records) $96,000 Public Records
• 2004-07-12 Sold (Public Records) $92,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,760 · +1.2% YoY. Source: county tax records.