1011 Hudson Ave · Iowa City, IA 52246

$390,000

None bd · 16.0 ba · 2,100 sqft · MultiFamily · 115 Days on market

Built 1920 Poor condition $186/sqft · 45% above area Est $268k · 45% over ↓ 2% since listing

---

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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +5.7/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Contact Dunte Blair for serials 319-573-0020. Located in the heart of Iowa City, 1011 Hudson Ave is a well-maintained four-unit investment property offering strong income potential in a highly desirable rental market. Each unit features practical layouts with comfortable living spaces that attract consistent tenant demand. Conveniently situated just minutes from downtown Iowa City, the University of Iowa, parks, shopping, and dining, this property combines location, stability, and long-term value. Whether expanding your portfolio or entering multi-family investing, this fourplex presents a solid opportunity in a thriving community. 24 hour notice for all showings.

Key facts

• Practical layouts
• Investment property
• 2 parking spots

Tags

• INVESTMENT PROPERTY
• STRONG INCOME POTENTIAL
• HIGHLY DESIRABLE RENTAL MARKET
• PRACTICAL LAYOUTS
• COMFORTABLE LIVING SPACES
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $390k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $362/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $355k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 2.7% in Iowa 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 86/100 on livability (#13 in IA, #450 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Iowa City Community School District (urban): math 65% / reading 70% proficiency, ranked #174 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.9%/yr); 207 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 714 units permitted in Johnson County in 2024 (158 in 5+ unit buildings).
• At $5,245/mo this rent would consume 101% of the median local household income ($63k/yr) (locally 1680% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Johnson County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $109k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. 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.
10. 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.
11. 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: 1.34% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.92%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $268,338
• List price: $390,000
• Delta: 45.34%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Benton Dr #13	0.30mi	—/3.0	2,301 (+10%)	18mo	$277,000	$120	35

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 · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.36×
• Total profit: $39,564
• Equity at exit: $58,150

10-year hold

• IRR: 19.8%
• Equity multiple: 2.81×
• Total profit: $198,111
• Equity at exit: $33,720

Cash invested: $109,200 (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 52246

• Rents YoY: 4.9%
• Active inventory: 207
• Price-to-rent: 24.8×

Monthly cashflow live

• Estimated rent: $5,245 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$488 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,101
• Net cashflow: $1,448

Break-even live

Break-even rent $3,412

Max offer price $390,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,244
Total (4 units)			$5,245

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Melrose Ct Iowa City, IA	3.0	1.0	1400	$2,400	$1.71	44d	1	0.58mi
704 Bowery St Iowa City, IA	3.0	1.5	1400	$1,500	$1.07	44d	1	1.14mi

Listing history 24 events

1. 2026-06-19
   days on market $390,000 Active 115 DOM
2. 2026-06-18
   days on market $390,000 Active 114 DOM
3. 2026-06-17
   days on market $390,000 Active 113 DOM
4. 2026-06-16
   days on market $390,000 Active 112 DOM
5. 2026-06-15
   days on market $390,000 Active 111 DOM
6. 2026-06-14
   days on market $390,000 Active 109 DOM
7. 2026-06-13
   days on market $390,000 Active 108 DOM
8. 2026-06-10
   days on market $390,000 Active 106 DOM
9. 2026-06-09
   days on market $390,000 Active 105 DOM
10. 2026-06-08
    days on market $390,000 Active 104 DOM
11. 2026-06-07
    days on market $390,000 Active 103 DOM
12. 2026-06-05
    days on market $390,000 Active 100 DOM
13. 2026-06-03
    days on market $390,000 Active 99 DOM
14. 2026-06-02
    days on market $390,000 Active 98 DOM
15. 2026-06-01
    days on market $390,000 Active 97 DOM
16. 2026-05-31
    days on market $390,000 Active 96 DOM
17. 2026-05-30
    days on market $390,000 Active 95 DOM
18. 2026-02-20
    listed $390,000 Active 672-char remark

    Show marketing remark (672 chars)

    Contact Dunte Blair for serials 319-573-0020. Located in the heart of Iowa City, 1011 Hudson Ave is a well-maintained four-unit investment property offering strong income potential in a highly desirable rental market. Each unit features practical layouts with comfortable living spaces that attract consistent tenant demand. Conveniently situated just minutes from downtown Iowa City, the University of Iowa, parks, shopping, and dining, this property combines location, stability, and long-term value. Whether expanding your portfolio or entering multi-family investing, this fourplex presents a solid opportunity in a thriving community. 24 hour notice for all showings.

19. 2026-01-14
    listed $390,000 Active 593-char remark

    Show marketing remark (593 chars)

    Located in the heart of Iowa City, 1011 Hudson Ave is a well-maintained four-unit investment property offering strong income potential in a highly desirable rental market. Each unit features practical layouts with comfortable living spaces that attract consistent tenant demand. Conveniently situated just minutes from downtown Iowa City, the University of Iowa, parks, shopping, and dining, this property combines location, stability, and long-term value. Whether expanding your portfolio or entering multi-family investing, this fourplex presents a solid opportunity in a thriving community.

20. 2025-09-05
    price $390,000
21. 2025-03-30
    price $395,000
22. 2025-03-25
    price $395,000
23. 2025-03-12
    listed $400,000 Active
24. 2025-03-12
    listed $400,000 Active

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

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 ≥105°F today · 16 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: $62,940
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$5,035
• − Management: −$5,035
• − Depreciation: −$11,345
• Taxable income: $11,878
• Est. tax owed @ 24.0%: −$2,851
• After-tax cash flow: $14,529/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

Poor 20/100 Extensive rehab

This four-unit property requires extensive repairs and maintenance, including landscaping, interior updates, and HVAC improvements. Significant investment is needed to bring it up to a move-in-ready condition.

Repairs flagged

• Major Landscaping — Overgrown grass and unkempt appearance
• Moderate Exterior siding — Aged appearance
• Major Flooring — No visible flooring
• Major Interior walls/paint — No visible interior
• Major Bathrooms — No visible bathrooms
• Major Kitchen — No visible kitchen
• Major HVAC/mechanicals — No visible HVAC/mechanicals
• Major Windows — No visible windows

Value-add opportunities

• Both Landscaping and exterior maintenance — Improves curb appeal and rental value
• Both Interior painting and updates — Enhances interior aesthetics and rental appeal
• Both Kitchen and bathroom updates — Modernizes spaces and attracts tenants
• Both HVAC and mechanical updates — Ensures comfort and energy efficiency
• Both Foundation inspection and repairs — Ensures structural integrity and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown grass and unkempt appearance	Major	$15,000–50,000
Exterior siding · Aged appearance	Moderate	$3,000–15,000
Flooring · No visible flooring	Major	$15,000–50,000
Interior walls/paint · No visible interior	Major	$15,000–50,000
Bathrooms · No visible bathrooms	Major	$15,000–50,000
Kitchen · No visible kitchen	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals	Major	$15,000–50,000
Windows · No visible windows	Major	$15,000–50,000
Total estimated repair cost · 8 items		$108,000–365,000

Value-add ROI direction

• Both Landscaping and exterior maintenance — Improves curb appeal and rental value ↑
• Both Interior painting and updates — Enhances interior aesthetics and rental appeal ↑
• Both Kitchen and bathroom updates — Modernizes spaces and attracts tenants ↑
• Both HVAC and mechanical updates — Ensures comfort and energy efficiency ↑
• Both Foundation inspection and repairs — Ensures structural integrity and safety ↑

ⓘ 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: Iowa City Community School District
• NCES district ID: 1914700
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $50,229
• Composite: 57.3/100
• National rank: #1088
• State rank: #174 of 289 in IA

Livability — Iowa City

• Score: 86/100
• State rank: #13
• US rank: #450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa City, IA
• County: Johnson County · 132,710 people
• City population: 80,235
• Metro: Iowa City, IA
• Population (ZIP): 22,308
• Household income: $62,521
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1680.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 180,405 people
• By 2030: 200,014 · +10.9%
• By 2040: 241,428 · +33.8%
• By 2050: 288,144 · +59.7%
• By 2075: 420,009 · +132.8%
• By 2100: 546,596 · +203.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 12% Asian 11% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Swedish 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 73% English-only · Spanish 6% Arabic 5% Chinese 4%

Political lean MEDSL · Johnson

• 2024 margin: Solid D (+38.1) · D 68.4% · R 30.3% · Other 1.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 41.5pp · 2024: 38.1pp
• All cycles: 2024: D+38.1 2020: D+43.2 2016: D+38.3 2012: D+35.4 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.08%
• Current HPI: 159.5713
• Rent YoY: ▲ 4.94%
• Metro: Iowa City, 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

-2.5% since first listed

7 events — show timeline

• 2026-02-20 Listed $390,000 ICAARMLS
• 2026-01-14 Listed $390,000 CRAAR, CDRMLS
• 2025-09-05 Price Changed $390,000 CRAAR, CDRMLS
• 2025-03-30 Price Changed $395,000 ICAARMLS
• 2025-03-25 Price Changed $395,000 CRAAR, CDRMLS
• 2025-03-12 Listed $400,000 ICAARMLS
• 2025-03-12 Listed $400,000 ICAARMLS