701 Garfield Ave · Dubuque, IA 52001

$112,000

2 bd · 1.5 ba · 1,287 sqft · SingleFamily public records · 15 Days on market

Built 1900 Est $147k · 24% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +6.1/10.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 1.5 bath home with 1200+ finished square footage. Seller has Iowa Real Estate License.

Key facts

• Fenced back yard
• Formal dining room
• Full basement

Tags

• CORNER LOT
• FENCED BACK YARD
• FORMAL DINING ROOM
• FULL BASEMENT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Two stories; Residential zoning
• Construction: Stone foundation
• Exterior features: Porch; Fenced yard; Metal roof

Interior

• Kitchen: Refrigerator; Range; Microwave
• Bedrooms: Bedrooms on multiple levels
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Window treatments
• Laundry & utility: Washer included; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $110k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.5% in Dubuque — 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 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Audubon Elementary School (math 27% / reading 27%, grade F, #607 of 616 statewide, top 99%, 281 students, 77% FRL); Hempstead High School (math 64% / reading 71%, grade B, #186 of 336 statewide, top 57%, 1,584 students, 38% FRL) — zoned schools average 58% FRL vs 32% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 64% district-wide (-17 pts) — the specific schools serving this property underperform the Dubuque Community School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,320 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Schools are B-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?
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: 1.11% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $146,718
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 E 24th St	0.32mi	2/1.5	1,304 (+1%)	0mo	$70,000	$54	82
2243 White St	0.44mi	3/2.0 (+1)	1,312 (+2%)	1mo	$143,000	$109	69
2501 Windsor Ave	0.41mi	3/2.0 (+1)	1,256 (-2%)	3mo	$197,000	$157	68
2418 White St	0.50mi	3/1.5 (+1)	1,317 (+2%)	1mo	$150,000	$114	67
1016 Rhomberg Ave	0.28mi	3/2.0 (+1)	1,372 (+7%)	2mo	$87,000	$63	67
1901 Ann St	0.44mi	2/1.0	1,200 (-7%)	0mo	$163,300	$136	66
655 Regent St	0.28mi	3/1.0 (+1)	1,176 (-9%)	0mo	$64,000	$54	65
2417 Jackson St	0.48mi	3/1.0 (+1)	1,248 (-3%)	1mo	$63,000	$50	65
1311 Garfield Ave	0.48mi	3/1.0 (+1)	1,248 (-3%)	3mo	$160,000	$128	63
2491 Jackson St	0.53mi	3/1.5 (+1)	1,376 (+7%)	0mo	$149,000	$108	58
328 Chappel Ct	0.68mi	2/1.5	1,176 (-9%)	0mo	$150,000	$128	54
1610 Rhomberg Ave	0.71mi	1/2.0 (-1)	1,373 (+7%)	2mo	$156,700	$114	47

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-4,308
• Equity at exit: $16,700

10-year hold

• IRR: 9.0%
• Equity multiple: 1.78×
• Total profit: $24,463
• Equity at exit: $9,684

Cash invested: $31,360 (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 52001

• Rents YoY: 5.6%
• Active inventory: 225
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$587
• Tax from tax record: −$184 /mo · $2,204/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $164

Break-even live

Break-even rent $1,035

Max offer price $112,000

Occupancy floor 82%

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2418 Central Ave Unit 2 Dubuque, IA	2.0	1.0	900	$1,000	$1.11	43d	1	0.52mi
1501 Central Ave Unit 1513-1 Dubuque, IA	3.0	1.0	1374	$1,175	$0.86	43d	1	0.60mi
333 E 10th St Dubuque, IA	2.0	2.0	1530	$1,750	$1.14	43d	3	0.75mi
571 Jefferson St Unit 3 Dubuque, IA	3.0	1.0	1000	$1,300	$1.30	43d	1	1.07mi
703 Caledonia Pl Dubuque, IA	3.0	1.0	1400	$1,400	$1.00	43d	1	1.32mi

Listing history 13 events

1. 2026-06-19
   days on market $112,000 Active 15 DOM
2. 2026-06-18
   days on market $112,000 Active 14 DOM
3. 2026-06-17
   days on market $112,000 Active 13 DOM
4. 2026-06-16
   days on market $112,000 Active 12 DOM
5. 2026-06-15
   days on market $112,000 Active 11 DOM
6. 2026-06-14
   days on market $112,000 Active 9 DOM
7. 2026-06-13
   days on market $112,000 Active 8 DOM
8. 2026-06-10
   days on market $112,000 Active 6 DOM
9. 2026-06-09
   days on market $112,000 Active 5 DOM
10. 2026-06-08
    days on market $112,000 Active 4 DOM
11. 2026-06-07
    days on market $112,000 Active 3 DOM
12. 2026-06-05
    remarks 366-char remark
13. 2026-06-05
    listed $112,000 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: $2,204 · $184/mo
• Projected year-2 tax: $2,204 · $184/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 ≥102°F today · 15 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: $14,906
• − Mortgage interest: −$6,274
• − Property taxes: −$2,204
• − Insurance: −$560
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$3,258
• Taxable income: $225
• Est. tax owed @ 24.0%: −$54
• After-tax cash flow: $1,910/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: Dubuque Community School District
• NCES district ID: 1909480
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $51,237
• Composite: 54.51/100
• National rank: #1345
• State rank: #205 of 289 in IA

Livability — Dubuque

• Score: 89/100
• State rank: #7
• US rank: #119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dubuque, IA
• County: Dubuque County · 60,106 people
• City population: 60,106
• Metro: Dubuque, IA
• Population (ZIP): 43,101
• Household income: $61,643
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1940.0

Population outlook (Dubuque County) Hauer SSP2

• Today (2025): 103,359 people
• By 2030: 106,472 · +3.0%
• By 2040: 112,043 · +8.4%
• By 2050: 116,553 · +12.8%
• By 2075: 128,014 · +23.9%
• By 2100: 132,892 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 1% Pacific Islander 1%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Dubuque

• 2024 margin: Lean R (+8.6) · D 45.1% · R 53.7% · Other 1.2%
• 2008→2024 swing: -29.4pp toward R · 2008: 20.8pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+1.2 2012: D+14.5 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.36%
• Current HPI: 173.5536
• Rent YoY: ▲ 5.63%
• Metro: Dubuque, 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

+64.9% since first listed

6 events — show timeline

• 2026-06-04 Listed $112,000 ECIMLS
• 2023-04-24 Sold (Public Records) $123,000 Public Records
• 2023-04-24 Sold (MLS) $123,000 ECIMLS
• 2023-02-24 Delisted — ECIMLS
• 2023-02-24 Listed $118,000 ECIMLS
• 2014-07-17 Listed $67,900 ECIMLS

Property tax history

+5.4%/yr

Latest (2025): $2,204 · +74.4% YoY. Source: county tax records.