143 Chicago St · Waterloo, IA 50701

$54,900

1 bd · 1.0 ba · 679 sqft · SingleFamily public records · 79 Days on market

Built 1921 0.26 ac lot $81/sqft · 49% below area Est $107k · 49% under ↓ 8% since listing

---

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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.8/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all Investors!! This one bed, one bath home comes with an oversized three stall garage. Whether you're looking to take on a renovation project, or looking for storage this home presents a solid opportunity. Schedule your showing today!

Key facts

• 0.26 acre lot
• 3 parking spots
• Built 1921

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.2% in Waterloo — 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 (#74 in IA, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime F, employment D-.
• 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.
• Market conditions: Rents rising (+3.8%/yr); 282 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 287 units permitted in Black Hawk County in 2024 (67 in 5+ unit buildings).
• This rent is only 14% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 3.8% rent growth), your $15k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1921 — 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. Crime grade is F 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?
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: 1.28% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 6.5

CMA / ARV

• ARV (median comp): $106,864
• List price: $54,900
• Delta: -48.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Bertch Ave	0.51mi	2/1.0 (+1)	672 (-1%)	4mo	$70,000	$104	66
615 Marsh St	0.35mi	2/1.5 (+1)	680 (+0%)	24mo	$109,900	$162	57
619 Bertch Ave Ave	0.75mi	1/1.0	684 (+1%)	10mo	$78,220	$114	56
402 Black Hawk Rd	0.53mi	2/1.0 (+1)	740 (+9%)	2mo	$115,000	$155	54
1313 Wallgate Ave	0.69mi	2/1.0 (+1)	684 (+1%)	14mo	$122,000	$178	50
404 Black Hawk Rd Rd	0.53mi	2/1.0 (+1)	616 (-9%)	7mo	$72,000	$117	49
108 Bertch Ave	0.53mi	2/1.0 (+1)	769 (+13%)	4mo	$127,500	$166	45
1318 Knoll Ave	0.61mi	2/1.0 (+1)	776 (+14%)	9mo	$90,000	$116	35
1012 W 6th St	0.74mi	2/1.0 (+1)	740 (+9%)	14mo	$12,900	$17	34

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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $886
• Equity at exit: $8,186

10-year hold

• IRR: 12.0%
• Equity multiple: 1.98×
• Total profit: $15,085
• Equity at exit: $4,747

Cash invested: $15,372 (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 50701

• Rents YoY: 3.8%
• Active inventory: 282
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $700 high
• Mortgage (P&I): −$288
• Tax from tax record: −$98 /mo · $1,178/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $144

Break-even live

Break-even rent $518

Max offer price $54,900

Occupancy floor 74%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 Sherwood Ct Waterloo, IA	1.0	1.0	490	$695	$1.42	20d	1	0.22mi
125 Sherwood Ct Unit 6 Waterloo, IA	1.0	1.0	490	$625	$1.28	20d	1	0.24mi
125 Sherwood Ct Waterloo, IA	1.0	1.0	490	$625	$1.28	43d	2	0.24mi
120 Sherwood Ct Unit 1 Waterloo, IA	1.0	1.0	490	$625	$1.28	20d	1	0.24mi
209 Baltimore St Waterloo, IA	1.0	1.0	618	$650	$1.05	43d	1	0.33mi
211 W Wellington St Unit 211 1/2 Wellington Waterloo, IA	1.0	1.0	600	$600	$1.00	43d	1	0.49mi
314 Locust St Apt 5 Waterloo, IA	1.0	1.0	500	$825	$1.65	43d	1	0.51mi
408 Locust St Waterloo, IA	1.0	1.0	644	$450	$0.70	20d	1	0.54mi
808 W 2nd St Unit 1 Waterloo, IA	1.0	1.0	452	$595	$1.32	43d	1	0.61mi
811 W 3rd St #8 Waterloo, IA	1.0	1.0	600	$575	$0.96	43d	1	0.67mi
733 Baltimore St Waterloo, IA	1.0	1.0	724	$700	$0.97	43d	1	0.70mi
102 1/2 South St Waterloo, IA	1.0	1.0	668	$550	$0.82	20d	1	0.72mi
609 Wellington Ct Apt D6 Waterloo, IA	1.0	1.0	588	$600	$1.02	20d	1	0.78mi
609 Wellington Ct Waterloo, IA	1.0	1.0	567	$600	$1.06	43d	2	0.78mi
200 Parkview Blvd Waterloo, IA	2.0	1.0	744	$725	$0.97	20d	1	0.79mi
209 Parkview Blvd Waterloo, IA	1.0	1.0	624	$695	$1.11	43d	1	0.81mi
246 Parkview Blvd Unit 242 Waterloo, IA	1.0	1.0	624	$650	$1.04	20d	1	0.81mi
254 Parkview Blvd Unit 254 Waterloo, IA	2.0	1.0	744	$795	$1.07	43d	1	0.82mi
225 Parkview Blvd Waterloo, IA	1.0	1.0	624	$650	$1.04	20d	1	0.82mi
225 Miriam Dr Unit A Waterloo, IA	2.0	1.0	700	$650	$0.93	43d	1	0.87mi
237 Miriam Dr Apt B Waterloo, IA	2.0	1.0	750	$725	$0.97	43d	1	0.88mi
21 W Jefferson St Waterloo, IA	1.0	1.0	711	$1,410	$1.98	20d	6	0.91mi
706 South St Waterloo, IA	2.0	1.0	750	$675	$0.90	43d	1	0.96mi
706 South St Unit B Waterloo, IA	2.0	1.0	750	$635	$0.85	20d	1	0.96mi
1008 Leavitt St Waterloo, IA	2.0	1.0	700	$920	$1.31	20d	1	0.96mi
1014 Leavitt St Waterloo, IA	2.0	1.0	700	$1,060	$1.51	20d	2	0.98mi
1001 1/2 Randolph St Waterloo, IA	1.0	1.0	624	$475	$0.76	20d	1	1.09mi
335 Cedar St Waterloo, IA	1.0	1.0	540	$1,510	$2.80	20d	1	1.12mi
606 Sycamore St Unit A Waterloo, IA	1.0	1.0	622	$875	$1.41	43d	1	1.40mi
611 Sycamore St Unit 302 Waterloo, IA	1.0	1.0	550	$750	$1.36	20d	1	1.42mi
1040 Patrick Ct Unit 1118-119 Waterloo, IA	1.0	1.0	500	$650	$1.30	20d	1	1.48mi
325 E Park Ave Waterloo, IA	—	1.0	425	$1,100	$2.59	20d	1	1.49mi

Listing history 21 events

1. 2026-06-19
   days on market $54,900 Active 79 DOM
2. 2026-06-18
   days on market $54,900 Active 78 DOM
3. 2026-06-17
   days on market $54,900 Active 77 DOM
4. 2026-06-16
   days on market $54,900 Active 76 DOM
5. 2026-06-15
   days on market $54,900 Active 75 DOM
6. 2026-06-14
   days on market $54,900 Active 73 DOM
7. 2026-06-13
   pricedays on market $54,900 Active 72 DOM
8. 2026-06-10
   days on market $59,900 Active 70 DOM
9. 2026-06-09
   days on market $59,900 Active 69 DOM
10. 2026-06-08
    days on market $59,900 Active 68 DOM
11. 2026-06-07
    days on market $59,900 Active 67 DOM
12. 2026-06-05
    days on market $59,900 Active 64 DOM
13. 2026-06-03
    days on market $59,900 Active 63 DOM
14. 2026-06-02
    days on market $59,900 Active 62 DOM
15. 2026-06-01
    days on market $59,900 Active 61 DOM
16. 2026-05-31
    days on market $59,900 Active 60 DOM
17. 2026-05-30
    days on market $59,900 Active 59 DOM
18. 2026-05-12
    price $59,900 243-char remark

    Show marketing remark (243 chars)

    Calling all Investors!! This one bed, one bath home comes with an oversized three stall garage. Whether you're looking to take on a renovation project, or looking for storage this home presents a solid opportunity. Schedule your showing today!

19. 2026-04-14
    status Active 243-char remark

    Show marketing remark (243 chars)

    Calling all Investors!! This one bed, one bath home comes with an oversized three stall garage. Whether you're looking to take on a renovation project, or looking for storage this home presents a solid opportunity. Schedule your showing today!

20. 2026-03-19
    status Pending 243-char remark

    Show marketing remark (243 chars)

    Calling all Investors!! This one bed, one bath home comes with an oversized three stall garage. Whether you're looking to take on a renovation project, or looking for storage this home presents a solid opportunity. Schedule your showing today!

21. 2026-03-06
    listed $64,900 Active 243-char remark

    Show marketing remark (243 chars)

    Calling all Investors!! This one bed, one bath home comes with an oversized three stall garage. Whether you're looking to take on a renovation project, or looking for storage this home presents a solid opportunity. Schedule your showing today!

ⓘ 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: $1,178 · $98/mo
• Projected year-2 tax: $1,178 · $98/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 ≥101°F today · 16 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: $8,402
• − Mortgage interest: −$3,075
• − Property taxes: −$1,178
• − Insurance: −$274
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$1,597
• Taxable income: $933
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $1,507/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 — Waterloo

• Score: 81/100
• State rank: #74
• US rank: #1589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, IA
• County: Black Hawk County · 112,933 people
• City population: 69,066
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 30,232
• Household income: $61,475
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1377.0

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 (78%)
• Race & ethnicity: White 78% Black 11% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Portuguese 3% Italian 3% American 2%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Spanish 2% French/Haitian/Cajun 2%

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: ▼ -107.19%
• Current HPI: 162.8951
• Rent YoY: ▲ 3.80%
• 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

-7.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $59,900 NEIRBR as distributed by MLS GRID
• 2026-04-14 Relisted — NEIRBR as distributed by MLS GRID
• 2026-03-19 Pending — NEIRBR as distributed by MLS GRID
• 2026-03-06 Listed $64,900 NEIRBR as distributed by MLS GRID

Property tax history

+4.2%/yr

Latest (2025): $1,178 · +8.5% YoY. Source: county tax records.