4001 Floyd Blvd · Sioux City, IA 51108

$350,000

4 bd · 3.0 ba · 400 sqft · MultiFamily · 78 Days on market

Built 1910 Fair condition 6,098 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

GREAT INVESTMENT OPPORTUNITY - Come check out this great commercial space on street level to host your business - office or retail, and benefit from the revenue of the 4 apartments on the second floor!!! The second floor has 2 studio apartments and 2 - 1 bedroom apartments! The owner as upgraded the apartments with NEW flooring, NEW paint and fixtures! Don't Miss this opportunity to invest!

Key facts

• New flooring
• New paint
• 6,098 sq ft lot

Tags

• NEW FLOORING
• NEW PAINT

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $350k).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 3.7% in Sioux 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 78/100 on livability (#138 in IA, #2,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Sioux City Community School District (urban): math 54% / reading 57% proficiency, ranked #264 of 289 in IA (top 91%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.71% ✓
• Cap rate: 23.72%
• Cash-on-cash: 62.22%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 61.2%
• Equity multiple: 3.73×
• Total profit: $267,071
• Equity at exit: $52,186

10-year hold

• IRR: 65.8%
• Equity multiple: 7.63×
• Total profit: $649,884
• Equity at exit: $30,262

Cash invested: $98,000 (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 51108

• Home prices YoY: -10.9%
• Active inventory: 26
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $9,494 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,994
• Net cashflow: $5,081

Break-even live

Break-even rent $3,062

Max offer price $350,000

Occupancy floor 41%

Sensitivity live

Price	-10% $5,323	-5% $5,202	+0% $5,081	+5% $4,961	+10% $4,840
Rent	-10% $4,331	-5% $4,706	+0% $5,081	+5% $5,457	+10% $5,832
Rate	-1.0pp $5,258	-0.5pp $5,171	base $5,081	+0.5pp $4,991	+1.0pp $4,899

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$9,496
Total (8 units)			$9,494

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $350,000 Active 78 DOM
2. 2026-06-18
   days on market $350,000 Active 77 DOM
3. 2026-06-17
   days on market $350,000 Active 76 DOM
4. 2026-06-16
   days on market $350,000 Active 75 DOM
5. 2026-06-15
   days on market $350,000 Active 74 DOM
6. 2026-06-14
   days on market $350,000 Active 72 DOM
7. 2026-06-12
   days on market $350,000 Active 71 DOM
8. 2026-06-09
   days on market $350,000 Active 68 DOM
9. 2026-06-08
   days on market $350,000 Active 67 DOM
10. 2026-06-07
    days on market $350,000 Active 66 DOM
11. 2026-06-05
    days on market $350,000 Active 63 DOM
12. 2026-06-02
    days on market $350,000 Active 61 DOM
13. 2026-06-01
    days on market $350,000 Active 60 DOM
14. 2026-05-31
    days on market $350,000 Active 59 DOM
15. 2026-05-30
    days on market $350,000 Active 58 DOM
16. 2026-04-01
    listed $350,000 Active 394-char remark

    Show marketing remark (394 chars)

    GREAT INVESTMENT OPPORTUNITY - Come check out this great commercial space on street level to host your business - office or retail, and benefit from the revenue of the 4 apartments on the second floor!!! The second floor has 2 studio apartments and 2 - 1 bedroom apartments! The owner as upgraded the apartments with NEW flooring, NEW paint and fixtures! Don't Miss this opportunity to invest!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $113,928
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$9,114
• − Management: −$9,114
• − Depreciation: −$10,182
• Taxable income: $58,912
• Est. tax owed @ 24.0%: −$14,139
• After-tax cash flow: $46,839/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior and interior repairs and updates to improve its condition and value.

Repairs flagged

• Major exterior paint — Peeling paint on brick
• Major interior walls — No visible interior walls
• Major HVAC/mechanicals — No visible HVAC/mechanicals

Value-add opportunities

• Both paint exterior — Enhances curb appeal and property value
• Both install flooring — Improves usability and appearance
• Both install interior walls — Creates usable space and enhances property value
• Both install HVAC/mechanicals — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint on brick	Major	$15,000–50,000
interior walls · No visible interior walls	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and property value ↑
• Both install flooring — Improves usability and appearance ↑
• Both install interior walls — Creates usable space and enhances property value ↑
• Both install HVAC/mechanicals — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sioux City Community School District
• NCES district ID: 1926400
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $44,967
• Composite: 46.86/100
• National rank: #2371
• State rank: #264 of 289 in IA

Livability — Sioux City

• Score: 78/100
• State rank: #138
• US rank: #2544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux City, IA
• City population: 51,789
• Population (ZIP): 5,637

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 17% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 7% Portuguese 4% Iranian 4%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.56%
• Current HPI: 273.2998
• Rent YoY: —
• Metro: —
• 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

• 2026-04-01 Listed $350,000 NWIA