1632 East St · Cedar Falls, IA 50613

$208,900

3 bd · 2.5 ba · 1,613 sqft · SingleFamily public records · 1 Days on market

Built 1935 5,600 sqft lot $130/sqft · at area comps Est $227k · 8% 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).

• ARV discount +11.1/15.0
• Cash flow +7.6/30.0
• Schools +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to move into hard to find Cedar Falls 4 bedroom 2 bath home with new carpet and fresh paint, 2 stall garage and more. Call for additional details or to schedule your showing. Brad Page 319-404-8899

Key facts

• Fenced back yard
• Formal dining area
• Attached 3/4 bath

Tags

• FENCED BACK YARD
• PATIO
• VAULTED MASTER BEDROOM
• FORMAL DINING AREA
• LOWER LEVEL FAMILY ROOM
• ATTACHED 3/4 BATH

Property features AI

Exterior

• Parking: Detached carport; Two carport spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Corner lot
• Construction: Steel siding; Shingle/asphalt roof; Basement: partially finished block and concrete with interior entry and sump pump; Below-grade finished area included
• Exterior features: Patio; Privacy fencing (fenced yard)

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Forced air heating; Natural gas heating
• Interior features: Ceiling fans
• Laundry & utility: Laundry room with washer hookup; Gas dryer hookup; Washer hookup; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (29.6% below list).
• Recommended offer: $147k (29.6% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: Cedar Heights Elementary School (math 70% / reading 74%, grade A-, #181 of 616 statewide, top 34%, 474 students, 40% FRL); Peet Junior High School (math 79% / reading 80%, grade A+, #35 of 246 statewide, top 16%, 670 students, 27% FRL); Cedar Falls High School (math 74% / reading 78%, grade A-, #75 of 336 statewide, top 23%, 1,302 students, 24% FRL).
• Market conditions: Rents rising (+2.0%/yr); 389 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,105 (29.6% 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 1935 — 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: 0.70% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 11.8

CMA / ARV

• ARV (median comp): $226,997
• List price: $208,900
• Delta: -7.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1632 East St	0.00mi	4/3.0 (+1)	1,712 (+6%)	0mo	$220,000	$129	82
1117 E Seerley Blvd	0.60mi	3/2.0	1,600 (-1%)	1mo	$224,900	$141	68
1917 Victory Dr	0.58mi	3/2.0	1,585 (-2%)	3mo	$198,000	$125	65
2015 Waterloo Rd	0.32mi	4/2.0 (+1)	1,736 (+8%)	2mo	$192,500	$111	64
1204 Sunnyside Cir	0.50mi	4/1.5 (+1)	1,577 (-2%)	2mo	$230,000	$146	63
1422 Main St	0.39mi	4/2.0 (+1)	1,732 (+7%)	1mo	$160,000	$92	62
912 Melrose Drive Dr	0.39mi	4/2.0 (+1)	1,722 (+7%)	3mo	$250,500	$145	61
909 Grove St	0.52mi	3/2.0	1,462 (-9%)	1mo	$180,000	$123	58
2519 Valley Park Dr	0.62mi	4/2.0 (+1)	1,513 (-6%)	2mo	$241,000	$159	52
1139 Madison St	0.44mi	2/1.0 (-1)	1,448 (-10%)	1mo	$227,000	$157	50
920 Royal Dr	0.47mi	3/1.5	1,388 (-14%)	3mo	$219,900	$158	49
1421 Rainbow Dr	0.53mi	2/1.0 (-1)	1,430 (-11%)	2mo	$189,900	$133	43

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: -26.2%
• Equity multiple: 0.12×
• Total profit: $-51,284
• Equity at exit: $31,148

10-year hold

• IRR: -26.6%
• Equity multiple: -0.22×
• Total profit: $-71,220
• Equity at exit: $18,062

Cash invested: $58,492 (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: 389
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$1,095
• Tax from tax record: −$230 /mo · $2,756/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-250

Break-even live

Break-even rent $1,788

Max offer price $164,724

Occupancy floor —

Sensitivity live

Price	-10% $-132	-5% $-191	+0% $-250	+5% $-309	+10% $-368
Rent	-10% $-366	-5% $-308	+0% $-250	+5% $-192	+10% $-134
Rate	-1.0pp $-145	-0.5pp $-197	base $-250	+0.5pp $-304	+1.0pp $-359

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: $52,225
• Closing costs: $6,267
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2110 Melrose Ct Cedar Falls, IA	4.0	2.0	1100	$1,250	$1.14	23d	1	0.31mi
1014 Main St Cedar Falls, IA	2.0	1.0	1400	$1,500	$1.07	45d	1	0.56mi
1803 Franklin St Unit 1803 Cedar Falls, IA	4.0	1.0	1200	$1,400	$1.17	45d	1	0.61mi
221 E 5th St #209 Cedar Falls, IA	2.0	2.0	1200	$2,000	$1.67	45d	1	0.80mi
2208 Walnut St Cedar Falls, IA	3.0	1.0	1380	$1,400	$1.01	45d	1	0.86mi
604 W Seerley Blvd Cedar Falls, IA	4.0	1.5	1600	$1,300	$0.81	23d	1	0.89mi
2311 Olive St Cedar Falls, IA	3.0–4.0	1.0	1050	$995	$0.95	23d	2	0.97mi
2515 Olive St Cedar Falls, IA	3.0	1.0	1380	$975	$0.71	23d	1	1.05mi
2609 Olive St Cedar Falls, IA	4.0	2.0–2.5	1568	$1,750	$1.12	23d	6	1.09mi
1902 Campus St Cedar Falls, IA	3.0	2.0	1300	$1,350	$1.04	23d	1	1.15mi
1320-1322 Delta Dr Unit 1322 (South Side) Cedar Falls, IA	3.0	2.0	1664	$1,350	$0.81	45d	1	1.44mi

Listing history 5 events

1. 2026-05-09
   status Pending 490-char remark
2. 2026-05-07
   listed $208,900 Active 490-char remark
3. 2020-03-26
   soldstatus $147,500
4. 2020-03-24
   soldstatus $147,500 203-char remark

   Show marketing remark (203 chars)

   Ready to move into hard to find Cedar Falls 4 bedroom 2 bath home with new carpet and fresh paint, 2 stall garage and more. Call for additional details or to schedule your showing. Brad Page 319-404-8899

5. 2020-01-31
   listed $149,900 203-char remark

   Show marketing remark (203 chars)

   Ready to move into hard to find Cedar Falls 4 bedroom 2 bath home with new carpet and fresh paint, 2 stall garage and more. Call for additional details or to schedule your showing. Brad Page 319-404-8899

ⓘ 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: $2,756 · $230/mo
• Projected year-2 tax: $3,018 · $251/mo
• Expected delta: +$262/yr (+$22/mo · 9.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $17,653
• − Mortgage interest: −$11,702
• − Property taxes: −$2,756
• − Insurance: −$1,044
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$6,077
• Taxable loss: −$6,751
• Est. tax savings @ 24.0%: +$1,620
• After-tax cash flow: $-1,381/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

+46.8% since first listed

6 events — show timeline

• 2026-06-12 Sold (MLS) $220,000 NEIRBR as distributed by MLS GRID
• 2026-05-09 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-07 Listed $208,900 NEIRBR as distributed by MLS GRID
• 2020-03-26 Sold (Public Records) $147,500 Public Records
• 2020-03-24 Sold (MLS) $147,500 NEIRBR as distributed by MLS GRID
• 2020-01-31 Listed $149,900 NEIRBR as distributed by MLS GRID

Property tax history

+3.4%/yr

Latest (2025): $2,756 · +2.9% YoY. Source: county tax records.