111 NE 34th St · Cedar Rapids, IA 52402

$129,500

3 bd · 2.0 ba · 1,830 sqft · SingleFamily public records · 13 Days on market

Built 1923 3,485 sqft lot Est $194k · 33% 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located and perfect for commuting, this 1920s charmer is full of character and waiting for your personal touch. Step inside to a warm and inviting main level featuring an open living room and formal dining room with original woodwork and flooring. The kitchen nook is a cozy spot for your morning coffee and a view of the patio just outside. Low-maintenance living at its best—the patio is just begging for some string lights and a hammock, giving you outdoor enjoyment without the yard work. Upstairs, the open attic space provides flexible options for a third bedroom, hobby room, or kids' area. The basement adds even more versatility and was previously used as a separate business space, making it ideal for your next creative or functional vision. NFC Cedar Rapids Financing is available. Seller is providing 1 year HSA home warranty for buyer.

Key facts

• Open living room
• Formal dining room
• View of patio

Tags

• OPEN LIVING ROOM
• FORMAL DINING ROOM
• ORIGINAL WOODWORK
• KITCHEN NOOK
• VIEW OF PATIO
• LOW MAINTENANCE LIVING

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding and frame construction
• Exterior features: Porch; Patio; Screened porch/patio; Sidewalks

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Wood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One fireplace in the living room
• Interior features: Other interior features; Finished basement with sump pump
• Laundry & utility: Washer and dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.8% 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: Kenwood Leadership Academy School (math 52% / reading 57%, grade C, #462 of 616 statewide, top 79%, 414 students, 62% FRL); Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); George Washington High School (math 44% / reading 62%, grade C-, #296 of 336 statewide, top 88%, 1,291 students, 49% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 290 active listings in the ZIP; 1 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 $895 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,500

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $193,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 33rd Street Dr SE	0.12mi	4/2.0 (+1)	1,836 (+0%)	11mo	$144,000	$78	79
2757 Franklin Ave NE	0.48mi	3/2.0	1,954 (+7%)	9mo	$201,500	$103	59
700 25th St NE	0.68mi	3/1.5	1,757 (-4%)	3mo	$168,500	$96	58
3018 E Ave NE	0.41mi	4/1.0 (+1)	1,665 (-9%)	4mo	$176,750	$106	54
239 SE 28th Street Dr St SE	0.53mi	3/3.0	1,607 (-12%)	2mo	$177,900	$111	49
2518 1st Ave Ave NE	0.69mi	4/1.5 (+1)	1,785 (-2%)	9mo	$206,835	$116	49
2416 B Ave NE	0.72mi	4/2.0 (+1)	1,976 (+8%)	2mo	$262,000	$133	46
635 37th St NE	0.42mi	4/1.5 (+1)	1,606 (-12%)	9mo	$220,000	$137	46
422 42nd St NE	0.70mi	4/2.5 (+1)	1,976 (+8%)	2mo	$170,000	$86	45
622 27th St NE	0.61mi	4/2.0 (+1)	1,612 (-12%)	4mo	$205,000	$127	43
624 40th St NE	0.63mi	4/1.5 (+1)	1,616 (-12%)	3mo	$160,000	$99	42
1032 34th St St NE	0.71mi	3/1.0	1,555 (-15%)	7mo	$162,500	$105	32

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: 2.7%
• Equity multiple: 1.11×
• Total profit: $3,911
• Equity at exit: $19,309

10-year hold

• IRR: 16.6%
• Equity multiple: 2.68×
• Total profit: $60,987
• Equity at exit: $11,197

Cash invested: $36,260 (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 52402

• Rents YoY: 11.0%
• Active inventory: 290
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$679
• Tax from tax record: −$165 /mo · $1,978/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $268

Break-even live

Break-even rent $1,137

Max offer price $129,500

Occupancy floor 77%

Sensitivity live

Price	-10% $341	-5% $305	+0% $268	+5% $231	+10% $195
Rent	-10% $151	-5% $210	+0% $268	+5% $326	+10% $385
Rate	-1.0pp $333	-0.5pp $301	base $268	+0.5pp $234	+1.0pp $200

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	45d	1	1.39mi

Listing history 12 events

1. 2026-06-03
   status $129,500 Pending 13 DOM
2. 2026-06-02
   days on market $129,500 Active 13 DOM
3. 2026-06-01
   days on market $129,500 Active 12 DOM
4. 2026-05-31
   days on market $129,500 Active 11 DOM
5. 2026-05-30
   days on market $129,500 Active 10 DOM
6. 2026-05-22
   status Pending 866-char remark

   Show marketing remark (866 chars)

   Centrally located and perfect for commuting, this 1920s charmer is full of character and waiting for your personal touch. Step inside to a warm and inviting main level featuring an open living room and formal dining room with original woodwork and flooring. The kitchen nook is a cozy spot for your morning coffee and a view of the patio just outside. Low-maintenance living at its best—the patio is just begging for some string lights and a hammock, giving you outdoor enjoyment without the yard work. Upstairs, the open attic space provides flexible options for a third bedroom, hobby room, or kids' area. The basement adds even more versatility and was previously used as a separate business space, making it ideal for your next creative or functional vision. NFC Cedar Rapids Financing is available. Seller is providing 1 year HSA home warranty for buyer.

7. 2026-05-20
   listed $129,500 Active 866-char remark

   Show marketing remark (866 chars)

   Centrally located and perfect for commuting, this 1920s charmer is full of character and waiting for your personal touch. Step inside to a warm and inviting main level featuring an open living room and formal dining room with original woodwork and flooring. The kitchen nook is a cozy spot for your morning coffee and a view of the patio just outside. Low-maintenance living at its best—the patio is just begging for some string lights and a hammock, giving you outdoor enjoyment without the yard work. Upstairs, the open attic space provides flexible options for a third bedroom, hobby room, or kids' area. The basement adds even more versatility and was previously used as a separate business space, making it ideal for your next creative or functional vision. NFC Cedar Rapids Financing is available. Seller is providing 1 year HSA home warranty for buyer.

8. 2026-05-20
   listed $129,500 Active

   Show marketing remark (866 chars)

   Centrally located and perfect for commuting, this 1920s charmer is full of character and waiting for your personal touch. Step inside to a warm and inviting main level featuring an open living room and formal dining room with original woodwork and flooring. The kitchen nook is a cozy spot for your morning coffee and a view of the patio just outside. Low-maintenance living at its best—the patio is just begging for some string lights and a hammock, giving you outdoor enjoyment without the yard work. Upstairs, the open attic space provides flexible options for a third bedroom, hobby room, or kids' area. The basement adds even more versatility and was previously used as a separate business space, making it ideal for your next creative or functional vision. NFC Cedar Rapids Financing is available. Seller is providing 1 year HSA home warranty for buyer.

9. 2017-07-28
   soldstatus $165,000
10. 2017-05-16
    soldstatus $73,000
11. 2017-02-13
    listed $76,900
12. 2016-11-01
    listed $86,500

ⓘ 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: $1,978 · $165/mo
• Projected year-2 tax: $2,006 · $167/mo
• Expected delta: +$28/yr (+$2/mo · 1.4%)

ⓘ 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 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,711
• − Mortgage interest: −$7,254
• − Property taxes: −$1,978
• − Insurance: −$648
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$3,767
• Taxable income: $1,230
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $2,921/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): 42,938
• Household income: $73,439
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 971.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 7% Black 6% Asian 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 4% Lithuanian 2% Iranian 2%
• Foreign-born: 8% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -133.31%
• Current HPI: 201.7061
• Rent YoY: ▲ 10.97%
• 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

+49.7% since first listed

8 events — show timeline

• 2026-06-02 Pending — ICAARMLS
• 2026-05-22 Pending — CRAAR, CDRMLS
• 2026-05-20 Listed $129,500 CRAAR, CDRMLS
• 2026-05-20 Listed $129,500 ICAARMLS
• 2017-07-28 Sold (Public Records) $165,000 Public Records
• 2017-05-16 Sold (MLS) $73,000 CRAAR, CDRMLS
• 2017-02-13 Listed $76,900 CRAAR, CDRMLS
• 2016-11-01 Listed $86,500 CRAAR, CDRMLS

Property tax history

+11.4%/yr

Latest (2018): $1,978 · +11.4% YoY. Source: county tax records.