3510 N 9th St #69 · Carter Lake, IA 51510

$40,900

3 bd · 2.0 ba · 924 sqft · Manufactured · 157 Days on market

Built 2024

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready 3 bedroom, 2 bathroom manufactured home available now. This home features an open concept floor plan with a spacious living area, functional kitchen, and comfortable bedrooms. Conveniently located in Carter Lake with easy access to shopping, dining, and nearby amenities. - 3 Bedrooms - 2 Bathrooms - Open Concept Layout - Spacious Living Area - Move-In Ready - Immediate Availability Affordable homes in this area do not stay available for long. Contact now to schedule a showing or request additional details before this home is rented.

Key facts

• Tight-knit community
• Natural beauty
• Top-rated schools

Tags

• TRANQUIL IOWA ENCLAVE
• TOP-RATED SCHOOLS
• NATURAL BEAUTY
• SHORELINE GOLF COURSE
• PET-FRIENDLY ENVIRONMENT
• TIGHT-KNIT COMMUNITY

Property features AI

Finance

• Financial info: Spec home; List price $40,900

Exterior

• Home design: Single-section home (3 bed, 2 bath)
• Exterior features: Located at 3510 N 9th St #69, Carter Lake, IA 51510

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Dishwasher; Garbage disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $41k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $41k).
• Recommended offer: $36k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#519 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, crime F.
• 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.
• Market conditions: 21 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 679 units permitted in Pottawattamie County in 2024 (566 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.96% ✓
• Cap rate: 26.06%
• Cash-on-cash: 70.59%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 70.2%
• Equity multiple: 4.17×
• Total profit: $36,299
• Equity at exit: $6,098

10-year hold

• IRR: 74.2%
• Equity multiple: 8.59×
• Total profit: $86,935
• Equity at exit: $3,536

Cash invested: $11,452 (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 51510

• Home prices YoY: -18.7%
• Active inventory: 21
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$214
• Tax est. 1.5%: −$51 /mo · $614/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $674

Break-even live

Break-even rent $358

Max offer price $40,900

Occupancy floor 39%

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: $10,225
• Closing costs: $1,227
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 Avenue K Unit 8 Carter Lake, IA	2.0	2.0	1014	$1,125	$1.11	14d	1	0.25mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	21d	1	1.15mi
2816 N 19th Ave Omaha, NE	3.0	1.0	860	$1,700	$1.98	43d	1	1.16mi
1816 Florence Blvd Apt 102 Omaha, NE	2.0	1.0	900	$900	$1.00	14d	1	1.43mi
1117 Nicholas St Omaha, NE	2.0	1.0–2.0	848	$2,195	$2.59	1d	47	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $40,900 Active 157 DOM
2. 2026-06-17
   days on market $40,900 Active 156 DOM
3. 2026-06-16
   days on market $40,900 Active 155 DOM
4. 2026-06-15
   days on market $40,900 Active 154 DOM
5. 2026-06-13
   days on market $40,900 Active 152 DOM
6. 2026-06-10
   days on market $40,900 Active 149 DOM
7. 2026-06-09
   days on market $40,900 Active 148 DOM
8. 2026-06-08
   days on market $40,900 Active 147 DOM
9. 2026-06-07
   days on market $40,900 Active 146 DOM
10. 2026-06-05
    days on market $40,900 Active 143 DOM
11. 2026-06-03
    days on market $40,900 Active 142 DOM
12. 2026-06-03
    days on market $40,900 Active 141 DOM
13. 2026-06-01
    days on market $40,900 Active 140 DOM
14. 2026-05-31
    days on market $40,900 Active 139 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,527
• − Mortgage interest: −$2,291
• − Property taxes: −$614
• − Insurance: −$204
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$1,190
• Taxable income: $7,904
• Est. tax owed @ 24.0%: −$1,897
• After-tax cash flow: $6,188/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 — Carter Lake

• Score: 66/100
• State rank: #519
• US rank: #11636

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carter Lake, IA
• City population: 13,176
• Population (ZIP): 3,773

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 20% Two or more races 16%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Romanian 4% Slovak 4% Portuguese 2%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 18% Other Indo-European 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: ▼ -47.06%
• Current HPI: 204.2751
• 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