1016 Rochester Ave · Iowa City, IA 52240

$189,000

3 bd · 2.0 ba · 1,014 sqft · SingleFamily public records · 29 Days on market

Built 1900 3,920 sqft lot Est $246k · 23% under

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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 +15.9/30.0
• ARV discount +15.0/15.0
• Schools +5.7/10.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Livability +4.3/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well located rental unit on Rochester Ave. Rents for $1475 but increases to $1600 in August 2026. Leased until Aug 2027. Tenant rights apply.

Key facts

• 3,920 sq ft lot
• 2 parking spots
• Built 1900

Property features AI

Finance

• HOA & community: Annual association fee

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Residential income/investment property; 2 stories
• Construction: Wood siding and frame construction
• Exterior features: Front porch; Sidewalks; Street lights

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Wall/window cooling units
• Interior features: Other
• Laundry & utility: Washer; Dryer; Laundry located on lower level; Full, unfinished basement

🏷️ Possibly a rental listed for sale. The $189,000 price doesn't fit this home's estimated sale value (~$246,402) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (5.8% below list).
• Recommended offer: $178k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.7% in Iowa City — 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Horace Mann Elementary School (math 57% / reading 67%, grade B, #363 of 616 statewide, top 62%, 213 students, 35% FRL); Southeast Junior High School (math 64% / reading 68%, grade A-, #152 of 246 statewide, top 62%, 812 students, 50% FRL); Iowa City High School (math 62% / reading 73%, grade B, #186 of 336 statewide, top 57%, 1,599 students, 40% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 260 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 87% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• This rent runs 40% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.
• Current owner paid $125k; list at $189k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $177,954 (5.8% 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 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?
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: 0.94% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $246,402
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 Rochester Ave	0.06mi	2/1.5 (-1)	936 (-8%)	5mo	$250,000	$267	74
804 E Davenport St	0.21mi	3/2.0	1,100 (+8%)	14mo	$310,000	$282	64
912 E Bloomington St	0.10mi	3/1.0	864 (-15%)	8mo	$210,000	$243	60
828 Church St	0.31mi	3/1.0	1,120 (+10%)	5mo	$217,500	$194	60
941 E Davenport St	0.10mi	2/1.0 (-1)	1,095 (+8%)	16mo	$187,500	$171	60
906 E Davenport St	0.16mi	3/1.0	1,162 (+15%)	6mo	$185,000	$159	60
621 Reno St	0.32mi	2/1.0 (-1)	948 (-6%)	11mo	$182,000	$192	56
311 Brown St	0.67mi	3/1.5	1,118 (+10%)	2mo	$325,000	$291	48
332 N Johnson St	0.34mi	2/1.0 (-1)	1,092 (+8%)	18mo	$221,000	$202	48
30 Montrose Ave	0.43mi	3/1.5	1,152 (+14%)	12mo	$285,000	$247	45
323 Brown St	0.66mi	2/1.0 (-1)	942 (-7%)	8mo	$295,000	$313	42
515 E Ronalds St	0.50mi	2/1.0 (-1)	1,160 (+14%)	18mo	$223,500	$193	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 · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.64×
• Total profit: $-18,796
• Equity at exit: $28,181

10-year hold

• IRR: 4.1%
• Equity multiple: 1.34×
• Total profit: $18,037
• Equity at exit: $16,341

Cash invested: $52,920 (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 52240

• Rents YoY: 6.3%
• Active inventory: 260
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$991
• Tax from tax record: −$247 /mo · $2,966/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $89

Break-even live

Break-even rent $1,667

Max offer price $189,000

Occupancy floor 90%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1154 Hotz Ave Iowa City, IA	2.0	2.5	1482	$2,450	$1.65	43d	1	0.20mi
12 N Dodge St Iowa City, IA	4.0	2.0	1120	$2,695	$2.41	43d	1	0.28mi
321 N Johnson St Unit 321-02 Iowa City, IA	2.0	1.0	945	$1,050	$1.11	43d	1	0.35mi
520 Church St Iowa City, IA	3.0	1.5	1359	$2,250	$1.66	43d	1	0.45mi
909 N Governor St Iowa City, IA	4.0	1.0	1484	$2,400	$1.62	43d	1	0.52mi
902 N Dodge St Iowa City, IA	2.0	1.0	900	$1,150	$1.28	43d	1	0.55mi
906 N Dodge St Iowa City, IA	2.0	1.0	900	$1,150	$1.28	43d	1	0.57mi
426 S Johnson St Iowa City, IA	3.0	2.0	1000	$1,350	$1.35	43d	1	0.62mi
413 S Johnson St Iowa City, IA	2.0	1.0	700	$1,200	$1.71	20d	1	0.64mi
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	43d	1	0.71mi
316 S Madison St Iowa City, IA	1.0–2.0	1.0–2.0	673	$2,300	$3.42	43d	1	0.95mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1040	$2,170	$2.09	20d	1	1.32mi
629 S Riverside Dr Iowa City, IA	2.0–3.0	2.0	1010	$2,170	$2.15	43d	2	1.32mi
49 Arbor Hill Cir #23 Iowa City, IA	2.0	2.0	1128	$1,215	$1.08	43d	1	1.40mi
215 Melrose Ct Iowa City, IA	3.0	1.0	1400	$2,400	$1.71	43d	1	1.44mi

Listing history 26 events

1. 2026-06-19
   days on market $189,000 Active 29 DOM
2. 2026-06-18
   days on market $189,000 Active 28 DOM
3. 2026-06-17
   days on market $189,000 Active 27 DOM
4. 2026-06-16
   days on market $189,000 Active 26 DOM
5. 2026-06-15
   days on market $189,000 Active 25 DOM
6. 2026-06-14
   days on market $189,000 Active 23 DOM
7. 2026-06-13
   days on market $189,000 Active 22 DOM
8. 2026-06-10
   days on market $189,000 Active 20 DOM
9. 2026-06-09
   days on market $189,000 Active 19 DOM
10. 2026-06-08
    days on market $189,000 Active 18 DOM
11. 2026-06-07
    days on market $189,000 Active 17 DOM
12. 2026-06-05
    days on market $189,000 Active 14 DOM
13. 2026-06-03
    days on market $189,000 Active 13 DOM
14. 2026-06-02
    days on market $189,000 Active 12 DOM
15. 2026-06-01
    days on market $189,000 Active 11 DOM
16. 2026-05-31
    days on market $189,000 Active 10 DOM
17. 2026-05-30
    days on market $189,000 Active 9 DOM
18. 2026-05-21
    listed $189,000 Active
19. 2026-01-01
    historical $1,600
20. 2025-11-05
    listed $189,000 Active
21. 2025-11-01
    price $1,600
22. 2025-10-30
    listed $1,550
23. 2022-08-29
    historical Active Under Contract
24. 2022-08-05
    price $159,900
25. 2022-07-01
    listed $165,000 Active
26. 2012-11-30
    soldstatus $125,000

ⓘ 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: $2,966 · $247/mo
• Projected year-2 tax: $2,967 · $247/mo
• Expected delta: +$1/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 ≥105°F today · 16 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: $21,354
• − Mortgage interest: −$10,587
• − Property taxes: −$2,966
• − Insurance: −$945
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$5,498
• Taxable loss: −$2,058
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $1,559/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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 35,074
• Household income: $52,960
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 2852.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Black 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 3% Romanian 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 8% French/Haitian/Cajun 2% Arabic 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.53%
• Current HPI: 170.7491
• Rent YoY: ▲ 6.32%
• Metro: Iowa City, 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

+51.2% since first listed

9 events — show timeline

• 2026-05-21 Listed $189,000 ICAARMLS
• 2026-01-01 Rental Removed $1,600 SHOWMOJO
• 2025-11-05 Listed $189,000 ICAARMLS
• 2025-11-01 Price Changed $1,600 SHOWMOJO
• 2025-10-30 Listed for Rent $1,550 SHOWMOJO
• 2022-08-29 Contingent — ICAARMLS
• 2022-08-05 Price Changed $159,900 ICAARMLS
• 2022-07-01 Listed $165,000 ICAARMLS
• 2012-11-30 Sold (Public Records) $125,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,966 · +1.3% YoY. Source: county tax records.