351 Dorgan Pl · Dubuque, IA 52001

$63,500

4 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 86 Days on market

Built 1886 $30/sqft · 48% below area Est $122k · 48% under ↓ 29% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

Key facts

• Garage
• Built 1886
• Listed 85 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.8% 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.

Location & tenants

• 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.
• Market conditions: Rents rising fast (+5.6%/yr); 225 active listings in the ZIP; 4 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; 473 units permitted in Dubuque County in 2024 (319 in 5+ unit buildings).
• This rent runs 41% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $439 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 + 5.6% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1886 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,690 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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 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: 3.34% ✓
• Cap rate: 29.75%
• Cash-on-cash: 83.79%
• DSCR: 4.73
• GRM: 2.5

CMA / ARV

• ARV (median comp): $121,580
• List price: $63,500
• Delta: -47.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1951 Madison St	0.11mi	3/2.5 (-1)	2,106 (-1%)	6mo	$190,000	$90	81
389 Clarke Dr	0.17mi	3/1.0 (-1)	2,280 (+7%)	8mo	$110,000	$48	64
1161 Edina St	0.66mi	4/2.0	2,083 (-2%)	7mo	$217,500	$104	60
1240 Rosedale Ave	0.73mi	5/2.0 (+1)	2,111 (-1%)	1mo	$212,000	$100	59
2464 White St	0.61mi	4/2.0	2,080 (-2%)	12mo	$125,000	$60	58
24 Clarke Dr	0.17mi	3/1.0 (-1)	2,340 (+10%)	12mo	$240,000	$103	57
2318 Washington St	0.56mi	4/2.0	1,918 (-10%)	3mo	$164,000	$86	55
365 Kaufmann Ave	0.39mi	3/1.5 (-1)	1,918 (-10%)	5mo	$160,000	$83	54
2249 Harold St	0.42mi	3/1.5 (-1)	1,906 (-10%)	3mo	$240,000	$126	54
1359 Pine St	0.52mi	3/1.5 (-1)	2,196 (+3%)	13mo	$153,000	$70	52
2518 Washington St	0.74mi	3/1.5 (-1)	2,000 (-6%)	7mo	$165,000	$83	43
855 Kirkwood St	0.46mi	3/2.0 (-1)	1,822 (-14%)	12mo	$208,000	$114	39

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: 83.3%
• Equity multiple: 5.00×
• Total profit: $71,059
• Equity at exit: $9,468

10-year hold

• IRR: 87.2%
• Equity multiple: 11.37×
• Total profit: $184,314
• Equity at exit: $5,490

Cash invested: $17,780 (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 52001

• Rents YoY: 5.6%
• Active inventory: 225
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,119 medium
• Mortgage (P&I): −$333
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$26
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $1,186

Break-even live

Break-even rent $618

Max offer price $63,500

Occupancy floor 39%

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: $15,875
• Closing costs: $1,905
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1199 Central Ave Unit 302 Dubuque, IA	4.0	3.0	2339	$2,850	$1.22	43d	1	0.39mi
597 Jefferson St Rm 3 Dubuque, IA	5.0	2.0	1800	$550	$0.31	43d	1	0.48mi
703 Caledonia Pl Dubuque, IA	3.0	1.0	1400	$1,400	$1.00	43d	1	0.70mi
500 Hill St Unit 2 Dubuque, IA	3.0	1.0	1900	$1,910	$1.01	43d	1	0.81mi

Listing history 22 events

1. 2026-06-19
   days on market $63,500 Active 86 DOM
2. 2026-06-18
   days on market $63,500 Active 85 DOM
3. 2026-06-17
   days on market $63,500 Active 84 DOM
4. 2026-06-16
   days on market $63,500 Active 83 DOM
5. 2026-06-15
   days on market $63,500 Active 82 DOM
6. 2026-06-14
   days on market $63,500 Active 80 DOM
7. 2026-06-13
   days on market $63,500 Active 79 DOM
8. 2026-06-10
   days on market $63,500 Active 77 DOM
9. 2026-06-09
   days on market $63,500 Active 76 DOM
10. 2026-06-08
    days on market $63,500 Active 75 DOM
11. 2026-06-07
    days on market $63,500 Active 74 DOM
12. 2026-06-05
    days on market $63,500 Active 71 DOM
13. 2026-06-03
    days on market $63,500 Active 70 DOM
14. 2026-06-02
    days on market $63,500 Active 69 DOM
15. 2026-06-01
    days on market $63,500 Active 68 DOM
16. 2026-05-31
    days on market $63,500 Active 67 DOM
17. 2026-05-30
    days on market $63,500 Active 66 DOM
18. 2026-05-18
    status Active 142-char remark

    Show marketing remark (142 chars)

    Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

19. 2026-05-07
    historical Active Under Contract 142-char remark

    Show marketing remark (142 chars)

    Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

20. 2026-05-06
    price $63,500 142-char remark

    Show marketing remark (142 chars)

    Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

21. 2026-04-15
    price $75,000 142-char remark

    Show marketing remark (142 chars)

    Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

22. 2026-03-25
    listed $90,000 Active 142-char remark

    Show marketing remark (142 chars)

    Investors alert! Plenty of TLC needed but with great potential to add to your portfolio. Tri-plex with lots of space, garage and central air

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $938 · $78/mo
• Expected delta: +$59/yr (+$5/mo · 6.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $25,431
• − Mortgage interest: −$3,557
• − Property taxes: −$880
• − Insurance: −$984
• − Repairs & maintenance: −$2,034
• − Management: −$2,034
• − Depreciation: −$1,847
• Taxable income: $14,094
• Est. tax owed @ 24.0%: −$3,383
• After-tax cash flow: $10,848/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: Dubuque Community School District
• NCES district ID: 1909480
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $51,237
• Composite: 54.51/100
• National rank: #1345
• State rank: #205 of 289 in IA

Livability — Dubuque

• Score: 89/100
• State rank: #7
• US rank: #119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dubuque, IA
• County: Dubuque County · 60,106 people
• City population: 60,106
• Metro: Dubuque, IA
• Population (ZIP): 43,101
• Household income: $61,643
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1940.0

Population outlook (Dubuque County) Hauer SSP2

• Today (2025): 103,359 people
• By 2030: 106,472 · +3.0%
• By 2040: 112,043 · +8.4%
• By 2050: 116,553 · +12.8%
• By 2075: 128,014 · +23.9%
• By 2100: 132,892 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 1% Pacific Islander 1%
• Common ancestry: Portuguese 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Dubuque

• 2024 margin: Lean R (+8.6) · D 45.1% · R 53.7% · Other 1.2%
• 2008→2024 swing: -29.4pp toward R · 2008: 20.8pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+1.2 2012: D+14.5 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.36%
• Current HPI: 173.5536
• Rent YoY: ▲ 5.63%
• Metro: Dubuque, 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

-29.4% since first listed

5 events — show timeline

• 2026-05-18 Relisted — ECIMLS
• 2026-05-07 Contingent — ECIMLS
• 2026-05-06 Price Changed $63,500 ECIMLS
• 2026-04-15 Price Changed $75,000 ECIMLS
• 2026-03-25 Listed $90,000 ECIMLS

Property tax history

+2.0%/yr

Latest (2025): $880 · +1.4% YoY. Source: county tax records.