Real Estate Investing in Hawarden, Iowa (51023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 51023 (Hawarden, IA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.7% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hawarden, IA (51023)?
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Market Analysis: 51023 Hawarden
The 51023 ZIP in Hawarden, IA is a local-operator market. Outside capital chasing a $197K entry has to pair deep knowledge with the discount.
Rent of $900/mo on a $197K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 51023 sits below the stated 0.0% once reality is priced in.
The gap between 51023 and stronger Hawarden ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 51023 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 51023 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Hawarden:
Market Trends
Home Value History (with trend line)
📊 How Does 51023 Compare?
| Metric | 51023 | Hawarden | Sioux City, IA-NE-SD | Iowa |
|---|---|---|---|---|
| Home Value | $197,419 | $197,419 | N/A | $227,232 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 6.0% |
| Avg Rent | $900 | $900 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 51023 (Hawarden, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $197,419 |
| Monthly Rent | $900 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +9.2% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 51023
Population: 3,437
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 51023
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is vacancy a concern in Hawarden, IA?
Expect elevated vacancy in Hawarden, IA. Rents at $900/mo are absorbed by the tenant base without meaningful lag.
Are renters plentiful in Hawarden, IA?
Working renters make up the core of the Hawarden, IA tenant base. The pool is reasonable for investors targeting long-term holds.
Is Hawarden, IA a good place for real estate investing?
Hawarden, IA stands at an investability rating of 3.0/5, with median home values near $197K and average rents around $900/mo. That combination puts it in the solid tier for investor interest.
Is rental property easy to operate in Hawarden, IA?
Landlord-friendliness in Hawarden, IA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is Hawarden, IA good for house hacking?
The house hack math a challenging in Hawarden, IA. Owner-occupant buyers benefit from the $900/mo rents and $197K home values.
You know 51023 now. You don’t know where it ranks.
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How 51023 ranks in Sioux City, IA-NE-SD
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