3105 Schaeffer Dr Dr SW · Cedar Rapids, IA 52404

$180,000

3 bd · 1.5 ba · 1,922 sqft · SingleFamily public records

Built 1959 0.51 ac lot Est $217k · 17% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.51 acre lot
• 3 garage spots
• Built 1959

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-75 ($-899/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (16.2% below list).
• Recommended offer: $151k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.5% in Cedar Rapids — 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 (#134 in IA, #2,474 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F.
• Cedar Rapids Community School District (urban): math 50% / reading 59% proficiency, ranked #265 of 289 in IA (top 92%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grant Elementary School (math 37% / reading 32%, grade F, #595 of 616 statewide, top 97%, 320 students, 72% FRL); Wilson Middle School (math 42% / reading 49%, grade D+, #231 of 246 statewide, top 94%, 395 students, 72% FRL); Thomas Jefferson High School (math 41% / reading 62%, grade D+, #307 of 336 statewide, top 91%, 1,543 students, 56% FRL) — zoned schools average 67% FRL vs 43% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.8%/yr); 419 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,787 (16.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $217,186
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3010 Bowling St SW	0.15mi	3/2.0	1,791 (-7%)	6mo	$183,000	$102	75
57 33rd Ave SW	0.13mi	4/2.0 (+1)	1,788 (-7%)	4mo	$234,000	$131	72
50 27th Avenue Dr SW	0.44mi	3/2.0	1,813 (-6%)	2mo	$222,250	$123	67
2461 Teresa Dr Dr SW	0.52mi	3/2.0	2,042 (+6%)	3mo	$230,000	$113	61
238 Wilson Ave SW	0.73mi	3/1.5	1,924 (+0%)	8mo	$105,000	$55	59
259 27th Ave SW	0.52mi	4/2.0 (+1)	2,025 (+5%)	4mo	$177,000	$87	57
2407 Teresa Drive Dr SW	0.63mi	3/2.0	1,795 (-7%)	4mo	$240,000	$134	55
2536 L St SW	0.75mi	3/1.5	1,794 (-7%)	6mo	$172,500	$96	49
2469 1st St SW	0.46mi	3/2.0	1,675 (-13%)	8mo	$185,000	$110	48
2426 Deborah Dr SW	0.72mi	4/2.5 (+1)	1,970 (+2%)	8mo	$205,000	$104	47
2401 Victoria Dr SW	0.62mi	4/2.5 (+1)	1,736 (-10%)	4mo	$229,000	$132	43
2441 1st St SW	0.52mi	4/3.0 (+1)	1,674 (-13%)	2mo	$215,000	$128	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.49×
• Total profit: $-25,932
• Equity at exit: $26,839

10-year hold

• IRR: 1.8%
• Equity multiple: 1.15×
• Total profit: $7,694
• Equity at exit: $15,563

Cash invested: $50,400 (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 52404

• Rents YoY: 8.8%
• Active inventory: 419
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$247 /mo · $2,966/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-75

Break-even live

Break-even rent $1,603

Max offer price $166,771

Occupancy floor 100%

Sensitivity live

Price	-10% $27	-5% $-24	+0% $-75	+5% $-126	+10% $-177
Rent	-10% $-194	-5% $-134	+0% $-75	+5% $-15	+10% $44
Rate	-1.0pp $16	-0.5pp $-29	base $-75	+0.5pp $-122	+1.0pp $-169

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2013-10-28
   soldstatus $172,000
2. 2009-12-29
   soldstatus $151,000
3. 2005-08-08
   soldstatus $128,500
4. 2004-06-18
   soldstatus $103,500

ⓘ 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: $2,966 · $247/mo
• Projected year-2 tax: $2,966 · $247/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,094
• − Mortgage interest: −$10,083
• − Property taxes: −$2,966
• − Insurance: −$900
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$5,236
• Taxable loss: −$3,986
• Est. tax savings @ 24.0%: +$957
• After-tax cash flow: $58/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: Cedar Rapids Community School District
• NCES district ID: 1906540
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $53,568
• Composite: 46.82/100
• National rank: #2378
• State rank: #265 of 289 in IA

Livability — Cedar Rapids

• Score: 78/100
• State rank: #134
• US rank: #2474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Rapids, IA
• County: Linn County · 179,860 people
• City population: 137,154
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,958
• Household income: $61,870
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1041.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 2% Other Asian/Pacific 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.96%
• Current HPI: 241.81
• Rent YoY: ▲ 8.79%
• Metro: Cedar Rapids, 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

+66.2% since first listed

4 events — show timeline

• 2013-10-28 Sold (Public Records) $172,000 Public Records
• 2009-12-29 Sold (Public Records) $151,000 Public Records
• 2005-08-08 Sold (Public Records) $128,500 Public Records
• 2004-06-18 Sold (Public Records) $103,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,966 · +2.5% YoY. Source: county tax records.