818 10th Ave Ave SW · Cedar Rapids, IA 52404

$125,000

3 bd · 1.0 ba · 1,154 sqft · SingleFamily public records · 87 Days on market

Built 1913 2,178 sqft lot $108/sqft · at area comps Est $137k · 9% under

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Why this score? — see what drove the B- 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 +25.2/30.0
• ARV discount +11.4/15.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 2 story in Cedar Rapids with a covered front porch & fully fenced yard with storage shed. Refreshed interior with all new paint, new carpet, new LVP flooring throughout main level and upstairs bathroom. Main level offers large living and dining areas with original hardwood floors, and natural light throughout. Functional kitchen with all new appliances & ample cabinet space. Upper level features 3 bedrooms with new carpet. Move in ready with a mix of original character and modern updates in a convenient location near downtown.

Key facts

• Covered front porch
• Refreshed interior
• New carpet

Tags

• COVERED FRONT PORCH
• FULLY FENCED YARD
• STORAGE SHED
• REFRESHED INTERIOR
• NEW PAINT
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• Market conditions: Rents rising fast (+8.8%/yr); 415 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago 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.
• Current owner paid $82k; list at $125k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $136,833
• List price: $125,000
• Delta: -8.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 9th Ave SW	0.09mi	3/1.0	1,248 (+8%)	1mo	$146,000	$117	81
523 SW 6th Ave	0.30mi	3/1.0	1,248 (+8%)	0mo	$168,000	$135	72
810 3rd Ave SW	0.33mi	2/1.0 (-1)	1,118 (-3%)	6mo	$75,000	$67	69
531 10th St SW	0.22mi	2/1.0 (-1)	1,242 (+8%)	4mo	$169,000	$136	69
713 7th Ave SW	0.18mi	2/2.0 (-1)	1,224 (+6%)	5mo	$92,460	$76	68
804 SW N St	0.37mi	2/1.5 (-1)	1,095 (-5%)	1mo	$42,250	$39	66
1218 B Ave NW	0.72mi	4/1.0 (+1)	1,150 (-0%)	1mo	$80,000	$70	60
648 SW 22nd Ave	0.69mi	3/1.0	1,092 (-5%)	0mo	$170,000	$156	59
911 A Ave NW	0.51mi	3/1.0	1,284 (+11%)	2mo	$75,000	$58	56
826 21st Ave SW	0.61mi	3/1.0	1,276 (+11%)	5mo	$143,000	$112	49
517 2nd St SW	0.59mi	2/1.0 (-1)	1,052 (-9%)	5mo	$155,000	$147	48
1703 14th Ave SW	0.75mi	3/1.0	1,008 (-13%)	2mo	$175,000	$174	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: 3.8%
• Equity multiple: 1.15×
• Total profit: $5,415
• Equity at exit: $18,638

10-year hold

• IRR: 17.6%
• Equity multiple: 2.80×
• Total profit: $62,950
• Equity at exit: $10,808

Cash invested: $35,000 (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: 415
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,456 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$161 /mo · $1,928/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $282

Break-even live

Break-even rent $1,099

Max offer price $125,000

Occupancy floor 76%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 C Ave NW Cedar Rapids, IA	3.0	1.5	1446	$1,500	$1.04	13d	1	0.65mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	43d	1	0.68mi

Listing history 26 events

1. 2026-06-19
   days on market $125,000 Active 87 DOM
2. 2026-06-18
   days on market $125,000 Active 86 DOM
3. 2026-06-17
   days on market $125,000 Active 85 DOM
4. 2026-06-16
   days on market $125,000 Active 84 DOM
5. 2026-06-15
   days on market $125,000 Active 83 DOM
6. 2026-06-14
   days on market $125,000 Active 81 DOM
7. 2026-06-13
   days on market $125,000 Active 80 DOM
8. 2026-06-10
   days on market $125,000 Active 78 DOM
9. 2026-06-09
   days on market $125,000 Active 77 DOM
10. 2026-06-08
    days on market $125,000 Active 76 DOM
11. 2026-06-07
    days on market $125,000 Active 75 DOM
12. 2026-06-05
    days on market $125,000 Active 72 DOM
13. 2026-06-03
    days on market $125,000 Active 71 DOM
14. 2026-06-02
    days on market $125,000 Active 70 DOM
15. 2026-06-01
    days on market $125,000 Active 69 DOM
16. 2026-05-31
    days on market $125,000 Active 68 DOM
17. 2026-05-30
    days on market $125,000 Active 67 DOM
18. 2026-04-23
    status Pending 552-char remark

    Show marketing remark (552 chars)

    Updated 2 story in Cedar Rapids with a covered front porch & fully fenced yard with storage shed. Refreshed interior with all new paint, new carpet, new LVP flooring throughout main level and upstairs bathroom. Main level offers large living and dining areas with original hardwood floors, and natural light throughout. Functional kitchen with all new appliances & ample cabinet space. Upper level features 3 bedrooms with new carpet. Move in ready with a mix of original character and modern updates in a convenient location near downtown.

19. 2026-03-24
    listed $125,000 Active 552-char remark

    Show marketing remark (552 chars)

    Updated 2 story in Cedar Rapids with a covered front porch & fully fenced yard with storage shed. Refreshed interior with all new paint, new carpet, new LVP flooring throughout main level and upstairs bathroom. Main level offers large living and dining areas with original hardwood floors, and natural light throughout. Functional kitchen with all new appliances & ample cabinet space. Upper level features 3 bedrooms with new carpet. Move in ready with a mix of original character and modern updates in a convenient location near downtown.

20. 2026-03-24
    listed $125,000 Active 552-char remark

    Show marketing remark (552 chars)

    Updated 2 story in Cedar Rapids with a covered front porch & fully fenced yard with storage shed. Refreshed interior with all new paint, new carpet, new LVP flooring throughout main level and upstairs bathroom. Main level offers large living and dining areas with original hardwood floors, and natural light throughout. Functional kitchen with all new appliances & ample cabinet space. Upper level features 3 bedrooms with new carpet. Move in ready with a mix of original character and modern updates in a convenient location near downtown.

21. 2022-02-28
    soldstatus $81,500
22. 2022-02-25
    soldstatus $81,500
23. 2022-01-21
    listed $91,500
24. 2015-07-14
    listed $84,900
25. 2005-10-17
    soldstatus $82,000
26. 2004-10-06
    soldstatus $73,000

ⓘ 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: $1,928 · $161/mo
• Projected year-2 tax: $1,945 · $162/mo
• Expected delta: +$17/yr (+$1/mo · 0.9%)

ⓘ 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: $17,470
• − Mortgage interest: −$7,002
• − Property taxes: −$1,928
• − Insurance: −$625
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$3,636
• Taxable income: $1,484
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $3,026/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

+71.2% since first listed

9 events — show timeline

• 2026-04-23 Pending — CRAAR, CDRMLS
• 2026-03-24 Listed $125,000 ICAARMLS
• 2026-03-24 Listed $125,000 CRAAR, CDRMLS
• 2022-02-28 Sold (Public Records) $81,500 Public Records
• 2022-02-25 Sold (MLS) $81,500 CRAAR, CDRMLS
• 2022-01-21 Listed $91,500 CRAAR, CDRMLS
• 2015-07-14 Listed $84,900 CRAAR, CDRMLS
• 2005-10-17 Sold (Public Records) $82,000 Public Records
• 2004-10-06 Sold (Public Records) $73,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,928 · -1.9% YoY. Source: county tax records.