745 Harvard St · Dubuque, IA 52001

$224,999

4 bd · 2.5 ba · 2,235 sqft · MultiFamily public records · 12 Days on market

Built 1921

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Multi-Family Home, Great Rental Property, or buy live in half, rent the other half. Two story, built in 1921, has been well maintained. Each unit has tub/shower combo, stove & amp; fridge. Basement has two separate laundry hook-ups for each tenant. Attic area has two areas for storage. Nice yard in back, no garage. Has off street parking for two cars. Home has gas heating & amp; central A/C. Upstairs unit has two screened/glass porches. Both units have pantries in kitchen; one has a walk-in pantry. Beautiful woodwork & amp; doors. Taxes are aprox. 3,066.00 per year. Both renters have been with us 12+ years.

Key facts

• Off street parking
• Gas heating
• Central a/c

Tags

• TWO STORY
• LAUNDRY HOOK-UPS
• STORAGE AREAS
• OFF STREET PARKING
• GAS HEATING
• CENTRAL A/C

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Cap rate 8.2% 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.
• Market conditions: Rents rising fast (+5.6%/yr); 234 active listings in the ZIP; 4 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; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• At $2,393/mo this rent would consume 47% of the median local household income ($62k/yr) (locally 1940% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $224,999

Questions for the listing agent

1. Built in 1921 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $116,220
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
571 Wilbur St	0.32mi	4/3.0	2,245 (+0%)	21mo	$100,000	$45	64
821 W 8th St	0.06mi	4/2.0	1,944 (-13%)	16mo	$140,000	$72	60
491-493 Burch St	0.24mi	4/2.0	1,908 (-15%)	13mo	$160,000	$84	51
347 W 17th St	0.72mi	4/2.0	2,030 (-9%)	0mo	$105,500	$52	49
345 W 17th St	0.72mi	4/2.0	2,030 (-9%)	0mo	$105,500	$52	49
535 W 17th St	0.60mi	4/2.0	2,308 (+3%)	19mo	$175,000	$76	49
646-652 W 11th St	0.27mi	5/2.0 (+1)	1,952 (-13%)	14mo	$170,000	$87	48
431 W 16th St	0.63mi	3/1.0 (-1)	2,338 (+5%)	15mo	$122,500	$52	40
506 W Locust St Unit 508 W Locust	0.72mi	4/2.0	2,520 (+13%)	9mo	$100,000	$40	36

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-6,929
• Equity at exit: $33,548

10-year hold

• IRR: 9.5%
• Equity multiple: 1.82×
• Total profit: $51,825
• Equity at exit: $19,454

Cash invested: $63,000 (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: 234
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,393 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$256 /mo · $3,066/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $361

Break-even live

Break-even rent $1,936

Max offer price $224,999

Occupancy floor 80%

Sensitivity live

Price	-10% $489	-5% $425	+0% $361	+5% $298	+10% $234
Rent	-10% $172	-5% $267	+0% $361	+5% $456	+10% $550
Rate	-1.0pp $475	-0.5pp $419	base $361	+0.5pp $303	+1.0pp $244

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,394
Total (2 units)			$2,393

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 Caledonia Pl Dubuque, IA	3.0	1.0	1400	$1,400	$1.00	45d	1	0.19mi
500 Hill St Unit 2 Dubuque, IA	3.0	1.0	1900	$1,910	$1.01	45d	1	0.23mi
597 Jefferson St Rm 3 Dubuque, IA	5.0	2.0	1800	$550	$0.31	45d	1	0.31mi
1199 Central Ave Unit 302 Dubuque, IA	4.0	3.0	2339	$2,850	$1.22	45d	1	0.72mi

Listing history 11 events

1. 2026-06-21
   days on market $224,999 Active 12 DOM
2. 2026-06-19
   days on market $224,999 Active 10 DOM
3. 2026-06-18
   days on market $224,999 Active 9 DOM
4. 2026-06-17
   days on market $224,999 Active 8 DOM
5. 2026-06-17
   price $224,999 Active 7 DOM
6. 2026-06-16
   days on market $235,000 Active 7 DOM
7. 2026-06-15
   days on market $235,000 Active 6 DOM
8. 2026-06-14
   days on market $235,000 Active 4 DOM
9. 2026-06-13
   days on market $235,000 Active 3 DOM
10. 2026-06-10
    remarks 614-char remark
11. 2026-06-10
    listed $235,000 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: $3,066 · $256/mo
• Projected year-2 tax: $3,299 · $275/mo
• Expected delta: +$233/yr (+$19/mo · 7.6%)

ⓘ 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 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: $28,716
• − Mortgage interest: −$12,603
• − Property taxes: −$3,066
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,297
• − Management: −$2,297
• − Depreciation: −$6,545
• Taxable income: $782
• Est. tax owed @ 24.0%: −$188
• After-tax cash flow: $4,148/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

1 event — show timeline

• 2026-06-10 Listed $235,000 FSBO.com

Property tax history

+2.8%/yr

Latest (2025): $3,066 · +3.0% YoY. Source: county tax records.