1013 W 6th St St · Waterloo, IA 50702

$94,900

3 bd · 1.5 ba · 1,195 sqft · SingleFamily public records · 135 Days on market

Built 1901 5,460 sqft lot $79/sqft · 11% above area Est $86k · 11% over

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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 +21.2/30.0
• DSCR +6.8/10.0
• 1% rule +5.5/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting 1¾-story home offering 3 spacious bedrooms and timeless character throughout. Step inside to enjoy the warmth and charm of beautiful original woodwork, showcasing craftsmanship you don’t find in today’s construction. Centrally located, this home offers the convenience of being close to schools, shopping, and local amenities, making daily living a breeze. The thoughtful layout provides comfortable living spaces with plenty of natural light. Whether you’re a first-time homebuyer, investor or looking for a home with character in a prime location, this property is full of potential and ready to be enjoyed.

Key facts

• Thoughtful layout
• Original woodwork
• Prime location

Tags

• ORIGINAL WOODWORK
• THOUGHTFUL LAYOUT
• PLENTY OF NATURAL LIGHT
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.2% in Waterloo — 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 (#74 in IA, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime F, employment D-.
• Waterloo Community School District (urban): math 50% / reading 54% proficiency, ranked #276 of 289 in IA (top 96%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.7%/yr); 126 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $656 of loan paydown is wiped out by about $3k 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

• It's been on market 135 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.05% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $85,602
• List price: $94,900
• Delta: 10.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Baltimore St	0.22mi	3/1.0	1,248 (+4%)	2mo	$98,400	$79	78
820 Bertch Ave	0.29mi	4/2.5 (+1)	1,208 (+1%)	4mo	$177,000	$147	72
517 W 9th St	0.45mi	3/1.0	1,232 (+3%)	5mo	$35,000	$28	68
1115 Hawthorne Ave	0.45mi	3/1.0	1,106 (-7%)	2mo	$125,000	$113	63
1225 Williston Ave Ave	0.40mi	2/1.0 (-1)	1,142 (-4%)	5mo	$100,000	$88	63
519 W 9th St St	0.45mi	4/2.0 (+1)	1,248 (+4%)	5mo	$35,000	$28	61
209 Kingsley Avenue Ave	0.61mi	3/1.0	1,294 (+8%)	0mo	$90,000	$70	56
200 Moir St	0.72mi	3/1.0	1,152 (-4%)	4mo	$50,000	$43	55
1207 Bertch Ave	0.41mi	2/2.0 (-1)	1,061 (-11%)	3mo	$118,000	$111	53
313 Vermount St	0.46mi	3/1.0	1,332 (+12%)	7mo	$45,000	$34	52
150 Hawthorne Ave	0.62mi	3/1.0	1,363 (+14%)	3mo	$187,000	$137	44
132 Moir St	0.74mi	3/2.0	1,322 (+11%)	5mo	$80,000	$61	42

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-6,929
• Equity at exit: $14,150

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $4,039
• Equity at exit: $8,205

Cash invested: $26,572 (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 50702

• Rents YoY: 2.7%
• Active inventory: 126
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $995 high
• Mortgage (P&I): −$498
• Tax from tax record: −$112 /mo · $1,344/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $137

Break-even live

Break-even rent $822

Max offer price $94,900

Occupancy floor 81%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 Western Ave Waterloo, IA	2.0	1.5	1500	$1,100	$0.73	21d	1	0.17mi
611 Johnson St Unit 11 Waterloo, IA	2.0	1.0	800	$895	$1.12	43d	1	0.17mi
611 Johnson St Unit 8 Waterloo, IA	2.0	1.0	800	$825	$1.03	43d	1	0.17mi
1008 Leavitt St Waterloo, IA	2.0	1.0	700	$920	$1.31	21d	1	0.17mi
1014 Leavitt St Waterloo, IA	2.0	1.0	700	$1,060	$1.51	21d	2	0.19mi
706 South St Unit B Waterloo, IA	2.0	1.0	750	$635	$0.85	21d	1	0.33mi
706 South St Waterloo, IA	2.0	1.0	750	$675	$0.90	43d	1	0.33mi
905 Baltimore St Waterloo, IA	3.0	1.5	1392	$1,025	$0.74	43d	1	0.35mi
820 W 2nd St Apt 2 Waterloo, IA	2.0	1.5	1100	$695	$0.63	43d	1	0.39mi
1524 1/2 W 5th St Unit 1524 1/2 Waterloo, IA	2.0	1.0	981	$850	$0.87	21d	1	0.41mi
313 Denver St Unit Downstairs Waterloo, IA	2.0	1.5	950	$695	$0.73	21d	1	0.42mi
1112 Byron Ave Unit 1114 Waterloo, IA	2.0	1.0	896	$930	$1.04	21d	1	0.52mi
418 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$675	$0.56	43d	1	0.53mi
416 Sunnyside Ave Waterloo, IA	3.0	1.0	1200	$825	$0.69	43d	1	0.53mi
1427 W 2nd St Waterloo, IA	3.0	1.0	1248	$1,250	$1.00	43d	1	0.57mi
223 W 4th St Ste 203 Waterloo, IA	2.0	1.5	1466	$1,250	$0.85	43d	1	0.59mi
616 Kimball Ave Waterloo, IA	3.0	1.0	1302	$1,100	$0.84	43d	1	0.60mi
W Mullan Ave Waterloo, IA	2.0	1.0	918	$710	$0.77	43d	2	0.64mi
200 Parkview Blvd Waterloo, IA	2.0	1.0	744	$725	$0.97	21d	1	0.65mi
719 Marsh St Waterloo, IA	3.0	1.0	1224	$1,100	$0.90	21d	1	0.66mi
254 Parkview Blvd Unit 254 Waterloo, IA	2.0	1.0	744	$795	$1.07	43d	1	0.67mi
1272 W Mullan Ave Unit 1272 Waterloo, IA	2.0	1.0	864	$825	$0.95	21d	1	0.68mi
226 Palmer Dr Unit 226-B Waterloo, IA	2.0	1.0	800	$780	$0.97	21d	1	0.68mi
1254 W Mullan Ave Unit 1254 Waterloo, IA	2.0	1.0	864	$775	$0.90	21d	1	0.68mi
237 Miriam Dr Apt B Waterloo, IA	2.0	1.0	750	$725	$0.97	43d	1	0.69mi
225 Miriam Dr Unit A Waterloo, IA	2.0	1.0	700	$650	$0.93	43d	1	0.70mi
45 W Jefferson St Waterloo, IA	1.0–2.0	1.0–2.0	1062	$1,750	$1.65	21d	9	0.79mi
824 Sycamore St Unit 824-09 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	0.87mi
924 Sycamore St #1 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	0.87mi
920-928 Sycamore St Unit 920-07 Waterloo, IA	2.0	2.0	1054	$1,250	$1.19	43d	1	0.91mi
520 Lafayette St Unit A Waterloo, IA	2.0	1.0	800	$750	$0.94	43d	1	1.00mi
910 Mulberry St Apt 3 Waterloo, IA	2.0	1.0	1064	$695	$0.65	21d	1	1.06mi
311 E 3rd St Waterloo, IA	2.0	2.0	1154	$1,500	$1.30	21d	1	1.06mi
1107 Mulberry St Waterloo, IA	3.0	1.0	1248	$950	$0.76	21d	1	1.11mi
154 Acadia St Unit 2 Waterloo, IA	2.0	1.0	995	$1,200	$1.21	43d	1	1.22mi
105 Bellaire Rd Waterloo, IA	2.0	2.0	1088	$1,100	$1.01	21d	1	1.23mi
1702 Hammond Ave Waterloo, IA	3.0	2.0	1337	$1,500	$1.12	43d	1	1.24mi
216 Courtland St Apt 1 Waterloo, IA	4.0	1.0	1150	$825	$0.72	21d	1	1.25mi
136 Janney Ave Waterloo, IA	2.0	2.0	901	$1,325	$1.47	43d	1	1.25mi
401 Argyle St Waterloo, IA	2.0	1.0	800	$800	$1.00	43d	1	1.41mi

Listing history 18 events

1. 2026-06-19
   days on market $94,900 Active 135 DOM
2. 2026-06-18
   days on market $94,900 Active 134 DOM
3. 2026-06-17
   days on market $94,900 Active 133 DOM
4. 2026-06-16
   days on market $94,900 Active 132 DOM
5. 2026-06-15
   days on market $94,900 Active 131 DOM
6. 2026-06-14
   days on market $94,900 Active 129 DOM
7. 2026-06-13
   days on market $94,900 Active 128 DOM
8. 2026-06-10
   days on market $94,900 Active 126 DOM
9. 2026-06-09
   days on market $94,900 Active 125 DOM
10. 2026-06-08
    days on market $94,900 Active 124 DOM
11. 2026-06-07
    days on market $94,900 Active 123 DOM
12. 2026-06-05
    days on market $94,900 Active 120 DOM
13. 2026-06-03
    days on market $94,900 Active 119 DOM
14. 2026-06-02
    days on market $94,900 Active 118 DOM
15. 2026-06-01
    days on market $94,900 Active 117 DOM
16. 2026-05-31
    days on market $94,900 Active 116 DOM
17. 2026-05-30
    days on market $94,900 Active 115 DOM
18. 2026-02-04
    listed $94,900 Active 659-char remark

    Show marketing remark (659 chars)

    Welcome to this inviting 1¾-story home offering 3 spacious bedrooms and timeless character throughout. Step inside to enjoy the warmth and charm of beautiful original woodwork, showcasing craftsmanship you don’t find in today’s construction. Centrally located, this home offers the convenience of being close to schools, shopping, and local amenities, making daily living a breeze. The thoughtful layout provides comfortable living spaces with plenty of natural light. Whether you’re a first-time homebuyer, investor or looking for a home with character in a prime location, this property is full of potential and ready to be enjoyed.

ⓘ 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: $1,344 · $112/mo
• Projected year-2 tax: $1,417 · $118/mo
• Expected delta: +$73/yr (+$6/mo · 5.4%)

ⓘ 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 ≥101°F today · 16 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: $11,945
• − Mortgage interest: −$5,316
• − Property taxes: −$1,344
• − Insurance: −$474
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,761
• Taxable income: $139
• Est. tax owed @ 24.0%: −$33
• After-tax cash flow: $1,613/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: Waterloo Community School District
• NCES district ID: 1930480
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 54% ▲ 1.00%
• Median HH income: $42,545
• Composite: 43.72/100
• National rank: #2950
• State rank: #276 of 289 in IA

Livability — Waterloo

• Score: 81/100
• State rank: #74
• US rank: #1589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, IA
• County: Black Hawk County · 112,933 people
• City population: 69,066
• Metro: Waterloo-Cedar Falls, IA
• Population (ZIP): 20,882
• Household income: $62,021
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 479.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 9% Two or more races 5% Asian 3% Pacific Islander 3% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: American 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 15% · Canada, Philippines
• Languages at home: 79% English-only · Spanish 7% Russian/Polish/Slavic 6% Other Asian/Pacific 4%

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: ▼ -110.86%
• Current HPI: 155.4447
• Rent YoY: ▲ 2.70%
• 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

• 2026-02-04 Listed $94,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.0%/yr

Latest (2025): $1,344 · +8.6% YoY. Source: county tax records.