1219 Western Ave · Cedar Falls, IA 50613

$180,000

2 bd · 1.0 ba · 1,337 sqft · SingleFamily public records · 6 Days on market

Built 1959 0.41 ac lot Est $194k · 7% under

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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 +11.2/30.0
• ARV discount +10.7/15.0
• Schools +6.6/10.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here is a great opportunity if you are looking for almost a 1/2 acre in town with multiple out buildings including an RV garage. The home itself has great curb appeal with a lovely bay window that allows the sun into the spacious living/dining area that also has the sliding doors that lead you to the patio then newer driveway and garages. This space is also winter ready with a wood burning stove and is open to the kitchen. The one bedroom is quite large and the second could double as a multi use space as it is complete with a washer and dryer. The full bath is spacious and has a double shower and the 1/2 bath is ample size also. The lower level is ready for a refinish and it is complete wit

Key facts

• Multi use space
• Double shower
• Bay window

Tags

• RV GARAGE
• BAY WINDOW
• WOOD BURNING STOVE
• MULTI USE SPACE
• DOUBLE SHOWER
• WORKSHOP

Property features AI

Exterior

• Parking: Carport (3 spaces); RV access/parking; Oversized detached parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service; Natural gas
• Home design: Single family residence; Residential property; R-1 zoning
• Construction: Vinyl siding; Shingle (asphalt) roof; Built with traditional foundation (concrete basement)
• Exterior features: Fenced yard; Concrete road/driveway

Interior

• Kitchen: Free-standing range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Natural gas heating; Wood stove heating; Central air; Ceiling fan(s)
• Interior features: Wood burning stove; Smoke detector(s); Partially finished concrete basement with interior entry
• Laundry & utility: Washer hookup on main level; Gas dryer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-69 ($-826/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (21.6% below list).
• Recommended offer: $141k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.1% in Cedar Falls — 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 (#60 in IA, #1,357 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Cedar Falls Community School District (urban): math 76% / reading 79% proficiency, ranked #45 of 289 in IA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: North Cedar Elementary School (math 67% / reading 72%, grade A-, #224 of 616 statewide, top 42%, 260 students, 50% FRL); Holmes Junior High School (math 79% / reading 78%, grade A+, #44 of 246 statewide, top 19%, 639 students, 28% FRL); Cedar Falls High School (math 74% / reading 78%, grade A-, #75 of 336 statewide, top 23%, 1,302 students, 24% FRL) — zoned schools average 34% FRL vs 18% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 387 active listings in the ZIP; solid renter incomes; 287 units permitted in Black Hawk County in 2024 (67 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.
• Black Hawk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,085 (21.6% 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.78% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $193,865
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2920 Center St	0.42mi	2/1.0	1,379 (+3%)	3mo	$161,000	$117	72
2111 Vine St	0.24mi	3/2.0 (+1)	1,440 (+8%)	6mo	$192,500	$134	62
2721 Hiawatha Rd	0.26mi	3/1.5 (+1)	1,413 (+6%)	20mo	$205,000	$145	54
1207 Minnehaha Lane Ln	0.46mi	3/1.0 (+1)	1,244 (-7%)	12mo	$231,500	$186	52
2713 Center St	0.36mi	3/2.0 (+1)	1,214 (-9%)	24mo	$169,500	$140	39
2009 Central Ave	0.68mi	3/2.0 (+1)	1,440 (+8%)	21mo	$239,000	$166	29

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 · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.31×
• Total profit: $-35,017
• Equity at exit: $26,839

10-year hold

• IRR: -15.4%
• Equity multiple: 0.17×
• Total profit: $-42,022
• Equity at exit: $15,563

Cash invested: $50,400 (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 50613

• Rents YoY: 2.0%
• Active inventory: 387
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$164 /mo · $1,974/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-69

Break-even live

Break-even rent $1,498

Max offer price $167,834

Occupancy floor 100%

Sensitivity live

Price	-10% $33	-5% $-18	+0% $-69	+5% $-120	+10% $-171
Rent	-10% $-180	-5% $-125	+0% $-69	+5% $-13	+10% $43
Rate	-1.0pp $22	-0.5pp $-23	base $-69	+0.5pp $-116	+1.0pp $-163

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $180,000 Active 6 DOM
2. 2026-06-19
   days on market $180,000 Active 4 DOM
3. 2026-06-18
   days on market $180,000 Active 3 DOM
4. 2026-06-17
   days on market $180,000 Active 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $180,000 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: $1,974 · $164/mo
• Projected year-2 tax: $2,400 · $200/mo
• Expected delta: +$426/yr (+$36/mo · 21.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $16,930
• − Mortgage interest: −$10,083
• − Property taxes: −$1,974
• − Insurance: −$900
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$5,236
• Taxable loss: −$3,972
• Est. tax savings @ 24.0%: +$953
• After-tax cash flow: $127/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: Cedar Falls Community School District
• NCES district ID: 1906510
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 79% ▼ -2.00%
• Median HH income: $53,634
• Composite: 65.93/100
• National rank: #443
• State rank: #45 of 289 in IA

Livability — Cedar Falls

• Score: 81/100
• State rank: #60
• US rank: #1357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Falls, IA
• County: Black Hawk County · 112,933 people
• City population: 43,867
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 43,867
• Household income: $78,503
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1514.0

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 (90%)
• Race & ethnicity: White 90% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Italian 3% Iranian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -175.51%
• Current HPI: 169.0591
• Rent YoY: ▲ 1.97%
• 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

1 event — show timeline

• 2026-06-15 Listed $180,000 NEIRBR as distributed by MLS GRID

Property tax history

+3.2%/yr

Latest (2019): $1,974 · +0.4% YoY. Source: county tax records.