412 W 2nd St · Sioux City, IA 51103

$119,000

3 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 78 Days on market

Built 1918 2,500 sqft lot $90/sqft · 5% below area Est $112k · 6% over ↓ 8% since listing

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Why this score? — see what drove the C+ 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.0/10.0
• ARV discount +4.8/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you’ve been waiting for something move-in ready with room to add your own value, this is it. This well-cared-for home at 412 W 2nd St. offers a solid start with updates already completed and space to make it your own. Featuring 3 bedrooms and 1 bathroom, this layout provides functional living space with high ceilings that create an open feel throughout. The kitchen includes appliances that stay, including the refrigerator and stove, along with ample storage and natural light that flows into the dining area. Interior updates include modern light fixtures and new tile work in the bathroom, while central A/C adds comfort in those hot summer months. The basement offers an impressive amount of storage space, along with an attached 200 sq ft tuck-under garage. Washer and dryer are included as well, making move-in even easier. Outside, enjoy a freshly painted porch and a low-maintenance yard, along with durable asphalt shingles. Located less than a mile from Hamilton Blvd, this home provides quick access to restaurants, grocery stores, and everyday essentials. In the other direction, you’re just minutes from downtown Sioux City, offering entertainment, events, and more. Schedule your showing to explore the potential this home has to offer. Average utilities are $117 a month. Selling As-Is.

Key facts

• 2,500 sq ft lot
• Garage
• Built 1918

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.7% in Sioux 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 79 active listings in the ZIP; 8 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; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1918 — 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: 1.20% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.81%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

• ARV (median comp): $112,177
• List price: $119,000
• Delta: 6.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 W 1st St	0.11mi	3/1.0	1,216 (-8%)	8mo	$170,000	$140	76
502 W 1st St	0.11mi	2/2.0 (-1)	1,276 (-3%)	7mo	$145,000	$114	75
1616 W Palmer Ave	0.71mi	3/1.0	1,288 (-2%)	13mo	$138,000	$107	52
314 George St	0.57mi	3/1.0	1,160 (-12%)	3mo	$155,000	$134	51
510 George St	0.67mi	3/1.0	1,429 (+9%)	8mo	$40,000	$28	48
1221 W 4th St	0.47mi	4/2.0 (+1)	1,473 (+12%)	6mo	$164,500	$112	45
1305 & 1307 Mcdonald St	0.64mi	4/1.0 (+1)	1,372 (+4%)	18mo	$145,000	$106	43
613 Myrtle St	0.61mi	2/2.0 (-1)	1,210 (-8%)	10mo	$150,000	$124	40
1403 W 6th St	0.68mi	3/1.0	1,512 (+15%)	12mo	$95,000	$63	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,362
• Equity at exit: $17,743

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $32,058
• Equity at exit: $10,289

Cash invested: $33,320 (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 51103

• Home prices YoY: -23.0%
• Active inventory: 79
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$624
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $356

Break-even live

Break-even rent $975

Max offer price $119,000

Occupancy floor 70%

Sensitivity live

Price	-10% $423	-5% $389	+0% $356	+5% $322	+10% $288
Rent	-10% $243	-5% $299	+0% $356	+5% $412	+10% $468
Rate	-1.0pp $416	-0.5pp $386	base $356	+0.5pp $325	+1.0pp $294

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Douglas St Sioux City, IA	2.0	2.0	1252	$1,775	$1.42	44d	5	0.53mi
505 6th St Sioux City, IA	1.0–2.0	1.0	830	$2,100	$2.53	44d	5	0.64mi
821 Jackson St Apt 105 Sioux City, IA	2.0	1.0	1014	$1,010	$1.00	44d	1	0.79mi
130 Nebraska St Sioux City, IA	1.0–2.0	1.0–2.0	900	$1,215	$1.35	44d	8	0.80mi
610 13th St Sioux City, IA	2.0–3.0	1.0–1.5	1329	$1,247	$0.94	44d	3	0.90mi
1116 13th St Sioux City, IA	3.0	1.0	1056	$1,100	$1.04	45d	1	1.22mi
1114 13th St Unit 1116 Sioux City, IA	3.0	1.0	1056	$1,100	$1.04	44d	1	1.23mi
860 River View Dr South Sioux City, NE	1.0–2.0	1.0–2.0	867	$1,252	$1.44	44d	1	1.34mi

Listing history 18 events

1. 2026-06-19
   days on market $119,000 Active 78 DOM
2. 2026-06-18
   days on market $119,000 Active 77 DOM
3. 2026-06-17
   days on market $119,000 Active 76 DOM
4. 2026-06-16
   days on market $119,000 Active 75 DOM
5. 2026-06-15
   days on market $119,000 Active 74 DOM
6. 2026-06-14
   days on market $119,000 Active 72 DOM
7. 2026-06-12
   days on market $119,000 Active 71 DOM
8. 2026-06-09
   days on market $119,000 Active 68 DOM
9. 2026-06-08
   days on market $119,000 Active 67 DOM
10. 2026-06-07
    days on market $119,000 Active 66 DOM
11. 2026-06-05
    days on market $119,000 Active 63 DOM
12. 2026-06-02
    days on market $119,000 Active 61 DOM
13. 2026-06-01
    days on market $119,000 Active 60 DOM
14. 2026-05-31
    days on market $119,000 Active 59 DOM
15. 2026-05-30
    days on market $119,000 Active 58 DOM
16. 2026-05-11
    price $119,000 1318-char remark

    Show marketing remark (1318 chars)

    If you’ve been waiting for something move-in ready with room to add your own value, this is it. This well-cared-for home at 412 W 2nd St. offers a solid start with updates already completed and space to make it your own. Featuring 3 bedrooms and 1 bathroom, this layout provides functional living space with high ceilings that create an open feel throughout. The kitchen includes appliances that stay, including the refrigerator and stove, along with ample storage and natural light that flows into the dining area. Interior updates include modern light fixtures and new tile work in the bathroom, while central A/C adds comfort in those hot summer months. The basement offers an impressive amount of storage space, along with an attached 200 sq ft tuck-under garage. Washer and dryer are included as well, making move-in even easier. Outside, enjoy a freshly painted porch and a low-maintenance yard, along with durable asphalt shingles. Located less than a mile from Hamilton Blvd, this home provides quick access to restaurants, grocery stores, and everyday essentials. In the other direction, you’re just minutes from downtown Sioux City, offering entertainment, events, and more. Schedule your showing to explore the potential this home has to offer. Average utilities are $117 a month. Selling As-Is.

17. 2026-04-21
    price $126,000 1318-char remark

    Show marketing remark (1318 chars)

    If you’ve been waiting for something move-in ready with room to add your own value, this is it. This well-cared-for home at 412 W 2nd St. offers a solid start with updates already completed and space to make it your own. Featuring 3 bedrooms and 1 bathroom, this layout provides functional living space with high ceilings that create an open feel throughout. The kitchen includes appliances that stay, including the refrigerator and stove, along with ample storage and natural light that flows into the dining area. Interior updates include modern light fixtures and new tile work in the bathroom, while central A/C adds comfort in those hot summer months. The basement offers an impressive amount of storage space, along with an attached 200 sq ft tuck-under garage. Washer and dryer are included as well, making move-in even easier. Outside, enjoy a freshly painted porch and a low-maintenance yard, along with durable asphalt shingles. Located less than a mile from Hamilton Blvd, this home provides quick access to restaurants, grocery stores, and everyday essentials. In the other direction, you’re just minutes from downtown Sioux City, offering entertainment, events, and more. Schedule your showing to explore the potential this home has to offer. Average utilities are $117 a month. Selling As-Is.

18. 2026-04-02
    listed $130,000 Active 1318-char remark

    Show marketing remark (1318 chars)

    If you’ve been waiting for something move-in ready with room to add your own value, this is it. This well-cared-for home at 412 W 2nd St. offers a solid start with updates already completed and space to make it your own. Featuring 3 bedrooms and 1 bathroom, this layout provides functional living space with high ceilings that create an open feel throughout. The kitchen includes appliances that stay, including the refrigerator and stove, along with ample storage and natural light that flows into the dining area. Interior updates include modern light fixtures and new tile work in the bathroom, while central A/C adds comfort in those hot summer months. The basement offers an impressive amount of storage space, along with an attached 200 sq ft tuck-under garage. Washer and dryer are included as well, making move-in even easier. Outside, enjoy a freshly painted porch and a low-maintenance yard, along with durable asphalt shingles. Located less than a mile from Hamilton Blvd, this home provides quick access to restaurants, grocery stores, and everyday essentials. In the other direction, you’re just minutes from downtown Sioux City, offering entertainment, events, and more. Schedule your showing to explore the potential this home has to offer. Average utilities are $117 a month. Selling As-Is.

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,515 · $126/mo
• Expected delta: +$353/yr (+$29/mo · 30.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $17,106
• − Mortgage interest: −$6,666
• − Property taxes: −$1,162
• − Insurance: −$595
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$3,462
• Taxable income: $2,485
• Est. tax owed @ 24.0%: −$596
• After-tax cash flow: $3,672/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: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 17,145

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 31% Two or more races 18% Asian 4% Black 4% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Iranian 3% Portuguese 3% Slovak 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 3% German/W. Germanic 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.41%
• Current HPI: 262.3809
• Rent YoY: —
• Metro: —
• 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

-8.5% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $119,000 NWIA
• 2026-04-21 Price Changed $126,000 NWIA
• 2026-04-02 Listed $130,000 NWIA

Property tax history

+3.2%/yr

Latest (2025): $1,162 · +4.5% YoY. Source: county tax records.