1707 Wilson St · Iowa City, IA 52240

$299,000

4 bd · 3.0 ba · 1,336 sqft · MultiFamily public records · 4 Days on market

Built 1956 7,841 sqft lot

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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 +7.9/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +4.1/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 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 MLS

Incredible opportunity! Well-maintained duplex near Longfellow, City High and downtown. Beautiful mid-century woodwork on the main level with stunning hardwood floors. You walk into the large light filled living room that leads to the spacious dining room with great built-in cabinets. Well appointed kitchen with ample storage and the washer/dryer closet. Go up a 1/2 flight of stairs to the three spacious bedrooms and one bath. The main floor unit also enjoys finished and unfinished basement space and another full bath in the lower. Lower level unit uses the address 220 S. 7th Ave. , Iowa City. Active radon mitigation has been installed.

Key facts

• Spacious dining room
• Mid century woodwork
• Built in cabinets

Tags

• WELL MAINTAINED DUPLEX
• MID CENTURY WOODWORK
• HARDWOOD FLOORS
• LIGHT FILLED LIVING ROOM
• SPACIOUS DINING ROOM
• BUILT IN CABINETS

Property features AI

Finance

• Other: Basement present with block construction; portions finished and unfinished
• Financial info: Financial details not provided
• HOA & community: Association fee collected annually; Community has sidewalks and street lights

Exterior

• Parking: Attached garage; Parking pad; 2 parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story; Residential zoning
• Construction: Brick and frame construction; Block foundation; Built by unknown builder
• Exterior features: Corner lot that is level and open; Irregular lot dimensions

Interior

• Kitchen: Kitchen includes dishwasher and refrigerator
• Bedrooms: Bedrooms information not provided
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning; Baseboard heating; Steam heating
• Interior features: Dishwasher, Refrigerator, Dryer, Washer; Contaminant control for improved indoor air quality; Smoke detectors
• Laundry & utility: Main-level laundry in a laundry closet; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (22.7% below list).
• Recommended offer: $231k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: Longfellow Elementary School (math 60% / reading 62%, grade B, #385 of 616 statewide, top 63%, 385 students, 57% 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) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 260 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• At $2,311/mo this rent would consume 52% of the median local household income ($53k/yr) (locally 2852% 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 $9k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $299k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $231,100 (22.7% 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 1956 — 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 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: 0.77% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.58%
• DSCR: 0.80
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.27×
• Total profit: $-60,743
• Equity at exit: $44,582

10-year hold

• IRR: -7.2%
• Equity multiple: 0.48×
• Total profit: $-43,717
• Equity at exit: $25,852

Cash invested: $83,720 (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: 21.6×

Monthly cashflow live

• Estimated rent: $2,311 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$453 /mo · $5,432/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-320

Break-even live

Break-even rent $2,715

Max offer price $242,550

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,312
Total (2 units)			$2,311

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 N Dodge St Iowa City, IA	4.0	2.0	1120	$2,695	$2.41	43d	1	0.79mi
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	43d	1	0.80mi
426 S Johnson St Iowa City, IA	3.0	2.0	1000	$1,350	$1.35	43d	1	0.83mi
2300 Catskill Ct Iowa City, IA	3.0	2.0	1456	$1,850	$1.27	43d	1	0.89mi
909 N Governor St Iowa City, IA	4.0	1.0	1484	$2,400	$1.62	43d	1	1.11mi
520 Church St Iowa City, IA	3.0	1.5	1359	$2,250	$1.66	43d	1	1.12mi
51 Gleason Dr Iowa City, IA	3.0	1.0	1700	$2,200	$1.29	43d	1	1.44mi

Listing history 18 events

1. 2026-06-15
   status $299,000 Pending 4 DOM
2. 2026-06-15
   days on market $299,000 Active 4 DOM
3. 2026-06-14
   days on market $299,000 Active 2 DOM
4. 2026-06-13
   pricedays on marketlisting id $299,000 Active 1 DOM
5. 2026-06-09
   days on market $325,000 Active 20 DOM
6. 2026-06-08
   days on market $325,000 Active 19 DOM
7. 2026-06-07
   days on market $325,000 Active 18 DOM
8. 2026-06-05
   days on market $325,000 Active 15 DOM
9. 2026-06-03
   days on market $325,000 Active 14 DOM
10. 2026-06-02
    days on market $325,000 Active 13 DOM
11. 2026-06-01
    days on market $325,000 Active 12 DOM
12. 2026-05-31
    days on market $325,000 Active 11 DOM
13. 2026-05-30
    days on market $325,000 Active 10 DOM
14. 2026-05-20
    listed $325,000 Active
15. 2026-05-19
    listed $325,000 Active 644-char remark

    Show marketing remark (644 chars)

    Incredible opportunity! Well-maintained duplex near Longfellow, City High and downtown. Beautiful mid-century woodwork on the main level with stunning hardwood floors. You walk into the large light filled living room that leads to the spacious dining room with great built-in cabinets. Well appointed kitchen with ample storage and the washer/dryer closet. Go up a 1/2 flight of stairs to the three spacious bedrooms and one bath. The main floor unit also enjoys finished and unfinished basement space and another full bath in the lower. Lower level unit uses the address 220 S. 7th Ave. , Iowa City. Active radon mitigation has been installed.

16. 2011-06-08
    soldstatus $175,000
17. 2011-06-08
    soldstatus $192,500
18. 2005-07-05
    soldstatus $175,000

ⓘ 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: $5,432 · $453/mo
• Projected year-2 tax: $5,432 · $453/mo
• Expected delta: $0/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: $27,732
• − Mortgage interest: −$16,749
• − Property taxes: −$5,432
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,219
• − Management: −$2,219
• − Depreciation: −$8,698
• Taxable loss: −$9,079
• Est. tax savings @ 24.0%: +$2,179
• After-tax cash flow: $-1,656/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

+85.7% since first listed

5 events — show timeline

• 2026-05-20 Listed $325,000 ICAARMLS
• 2026-05-19 Listed $325,000 ICAARMLS
• 2011-06-08 Sold (Public Records) $192,500 Public Records
• 2011-06-08 Sold (Public Records) $175,000 Public Records
• 2005-07-05 Sold (Public Records) $175,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $5,432 · +1.3% YoY. Source: county tax records.