843 Riehl St · Waterloo, IA 50703

$85,000

2 bd · 1.5 ba · 882 sqft · SingleFamily public records · 13 Days on market

Built 1924 6,950 sqft lot Est $83k · at est.

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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 +18.5/30.0
• ARV discount +6.4/15.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Schools +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you’ve been looking for an affordable place to call home without huge projects right after moving in, this one is worth a look! Step inside through the enclosed front porch, a perfect place to enjoy morning coffee, read a good book, or simply watch the cars pass by. Inside, the living room features original woodwork, fresh paint throughout, and vinyl flooring that carries throughout the main floor. The open flow into the dining area helps the space feel connected and functional, while the built in adds character. The kitchen offers a good amount of space to cook, stay organized, and make your own over time. Just off the kitchen, the back entry creates the perfect drop zone for coat

Key facts

• Vinyl flooring
• Original woodwork
• Built in

Tags

• ENCLOSED FRONT PORCH
• ORIGINAL WOODWORK
• VINYL FLOORING
• BUILT IN
• UPDATED FULL BATHROOM
• DETACHED ONE STALL GARAGE

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding; Shingle/asphalt roof
• Exterior features: Porch; Concrete road surface; Storage structure

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: No fireplace; Unfinished basement
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $81 ($977/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($869 rent vs $85k).
• Cap rate 7.4% 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: 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.
• Zoned schools: Lincoln Elementary School (math 38% / reading 42%, grade F, #576 of 616 statewide, top 94%, 471 students, 86% FRL); George Washington Carver Academy (math 36% / reading 43%, grade F, #240 of 246 statewide, top 98%, 442 students, 91% FRL); East High School (math 39% / reading 58%, grade D, #317 of 336 statewide, top 94%, 1,022 students, 73% FRL) — zoned schools average 83% FRL vs 58% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 98 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $588 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $46k; list at $85k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1924 — 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. 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?
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: 1.02% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $82,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
748 Conger St	0.11mi	2/1.0	864 (-2%)	5mo	$60,000	$69	86
713 Riehl St	0.18mi	2/2.0	836 (-5%)	1mo	$78,500	$94	80
1128 Newton St	0.41mi	2/1.0	906 (+3%)	7mo	$85,000	$94	68
1035 Newton St	0.30mi	2/1.5	963 (+9%)	8mo	$95,000	$99	64
1162 Kern Street St	0.44mi	2/1.0	941 (+7%)	4mo	$97,900	$104	63
1036 Columbia St	0.65mi	2/1.0	848 (-4%)	4mo	$60,000	$71	58
219 Center St	0.72mi	2/1.0	876 (-1%)	10mo	$89,000	$102	55
307 Center St	0.66mi	3/1.0 (+1)	930 (+5%)	1mo	$63,000	$68	52
1061 Riehl St	0.29mi	3/1.0 (+1)	1,000 (+13%)	8mo	$126,500	$127	51
1005 Columbia St	0.60mi	3/1.0 (+1)	845 (-4%)	9mo	$8,500	$10	50
314 Crescent Pl	0.72mi	2/1.0	772 (-12%)	2mo	$37,000	$48	42
926 Lincoln St	0.70mi	1/1.0 (-1)	956 (+8%)	8mo	$39,000	$41	40

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 · 6.67% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-5,240
• Equity at exit: $12,674

10-year hold

• IRR: 8.0%
• Equity multiple: 1.71×
• Total profit: $16,931
• Equity at exit: $7,349

Cash invested: $23,800 (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 50703

• Rents YoY: 6.7%
• Active inventory: 98
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $869 high
• Mortgage (P&I): −$446
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $81

Break-even live

Break-even rent $766

Max offer price $85,000

Occupancy floor 86%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
661 Dawson St Waterloo, IA	2.0	1.0	704	$895	$1.27	21d	1	0.21mi
657 Dawson St Waterloo, IA	2.0	1.0	692	$810	$1.17	43d	1	0.22mi
1124 Kern St Waterloo, IA	2.0	1.0	740	$950	$1.28	43d	1	0.39mi
1132 Ackermant St Waterloo, IA	2.0	1.0	685	$825	$1.20	43d	1	0.62mi
314 Conger St Waterloo, IA	2.0	1.0	840	$875	$1.04	43d	1	0.62mi
307 Riehl St Waterloo, IA	2.0	1.0	640	$825	$1.29	21d	1	0.63mi
1137 Columbia St Waterloo, IA	1.0	1.0	588	$725	$1.23	21d	1	0.65mi
1148 Columbia St Waterloo, IA	2.0	1.0	816	$850	$1.04	43d	1	0.68mi
118 Harrison St Waterloo, IA	2.0	1.0	600	$500	$0.83	43d	1	0.88mi
401 Argyle St Waterloo, IA	2.0	1.0	800	$800	$1.00	43d	1	1.05mi
405 W Donald St Waterloo, IA	2.0–3.0	1.0	880	$900	$1.02	21d	4	1.06mi
45 W Jefferson St Waterloo, IA	1.0–2.0	1.0–2.0	1062	$1,750	$1.65	21d	9	1.07mi
21 W Jefferson St Waterloo, IA	1.0	1.0	711	$1,410	$1.98	21d	6	1.11mi
303 Franklin St Apt 2 Waterloo, IA	2.0	1.0	600	$650	$1.08	43d	1	1.16mi
613 Hope Ave Waterloo, IA	2.0	1.0	812	$795	$0.98	43d	1	1.18mi
W Mullan Ave Waterloo, IA	2.0	1.0	918	$710	$0.77	43d	2	1.20mi
136 Janney Ave Waterloo, IA	2.0	2.0	901	$1,325	$1.47	43d	1	1.20mi
306 Charles St Waterloo, IA	3.0	1.0	916	$925	$1.01	43d	1	1.22mi
302 Commercial St Waterloo, IA	1.0	1.0	901	$1,100	$1.22	21d	1	1.25mi
102 1/2 South St Waterloo, IA	1.0	1.0	668	$550	$0.82	21d	1	1.25mi
322 Lester St Waterloo, IA	2.0	1.0	672	$850	$1.26	43d	1	1.26mi
335 Cedar St Waterloo, IA	1.0	1.0	540	$1,510	$2.80	21d	1	1.27mi
1254 W Mullan Ave Unit 1254 Waterloo, IA	2.0	1.0	864	$775	$0.90	21d	1	1.33mi
211 W Wellington St Unit 211 1/2 Wellington Waterloo, IA	1.0	1.0	600	$600	$1.00	43d	1	1.33mi
520 Lafayette St Unit A Waterloo, IA	2.0	1.0	800	$750	$0.94	43d	1	1.34mi
218 South St Unit 5 Waterloo, IA	1.0	1.0	800	$545	$0.68	43d	1	1.34mi
739 Sherman Ave Waterloo, IA	3.0	1.0	875	$925	$1.06	43d	1	1.35mi
1272 W Mullan Ave Unit 1272 Waterloo, IA	2.0	1.0	864	$825	$0.95	21d	1	1.36mi
626 W 2nd St Unit 1 Waterloo, IA	1.0	1.0	857	$750	$0.88	21d	1	1.37mi
515 Stokes Dr Waterloo, IA	1.0	1.0	664	$675	$1.02	43d	1	1.39mi
606 Sycamore St Unit A Waterloo, IA	1.0	1.0	622	$875	$1.41	43d	1	1.40mi
611 Sycamore St Unit 302 Waterloo, IA	1.0	1.0	550	$750	$1.36	21d	1	1.40mi
820 W 2nd St Apt 2 Waterloo, IA	2.0	1.5	1100	$695	$0.63	43d	1	1.47mi

Listing history 8 events

1. 2026-06-05
   status $85,000 Pending 13 DOM
2. 2026-06-03
   days on market $85,000 Active 13 DOM
3. 2026-06-02
   days on market $85,000 Active 12 DOM
4. 2026-06-01
   days on market $85,000 Active 11 DOM
5. 2026-05-31
   days on market $85,000 Active 10 DOM
6. 2026-05-30
   days on market $85,000 Active 9 DOM
7. 2026-05-21
   listed $85,000 Active
8. 2012-08-30
   soldstatus $46,000

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,486 · $124/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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $10,426
• − Mortgage interest: −$4,761
• − Property taxes: −$1,486
• − Insurance: −$425
• − Repairs & maintenance: −$834
• − Management: −$834
• − Depreciation: −$2,473
• Taxable loss: −$387
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $1,070/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): 17,952
• Household income: $50,060
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 871.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -117.18%
• Current HPI: 132.9478
• Rent YoY: ▲ 6.67%
• 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

+84.8% since first listed

2 events — show timeline

• 2026-05-21 Listed $85,000 NEIRBR as distributed by MLS GRID
• 2012-08-30 Sold (Public Records) $46,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,486 · +8.5% YoY. Source: county tax records.