655 Regent St

Dubuque, IA 52002

$75,000B+

3 bd · 1.0 ba · 1,176 sqft · Built 1901 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,290/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $421/mo
• Annual: $5,051/yr
• Cap rate: 13.92%
• Cash-on-cash: 27.23%
• DSCR: 2.21
• 1% rule: 1.72%
• Cash to close: $21,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 21 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#7 in IA, #119 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-.
• Dubuque Community School District (urban): math 63% / reading 65% proficiency, ranked #205 of 289 in IA (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Audubon Elementary School (math 27% / reading 27%, grade F, #607 of 616 statewide, top 99%, 281 students, 77% FRL); Thomas Jefferson Middle School (math 43% / reading 44%, grade D, #234 of 246 statewide, top 95%, 459 students, 61% FRL); Hempstead High School (math 64% / reading 71%, grade B, #186 of 336 statewide, top 57%, 1,584 students, 38% FRL) — zoned schools average 59% FRL vs 32% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 46% at this address vs 64% district-wide (-18 pts) — the specific schools serving this property underperform the Dubuque Community School District average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $56/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 93 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• Dubuque County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.9% vs local median 3.5% in Dubuque — 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.
• This rent is only 17% of the median local income ($91k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.
• 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.
• 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.