1801 Wilson Ave SW · Cedar Rapids, IA 52404

$184,900

4 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 29 Days on market

Built 1951 0.26 ac lot $159/sqft · 38% below area Est $300k · 38% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• DSCR +4.5/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-bedroom, 1-bath Craftsman-style 1.75-story home featuring beautiful natural hardwood floors and an updated kitchen and bath. Situated on a large lot, this property offers plenty of outdoor space and potential. A great opportunity for a first-time home buyer or investor. Home is being sold as is.

Key facts

• 0.26 acre lot
• Garage
• Built 1951

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $46 ($547/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (10.7% below list).
• Recommended offer: $165k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Van Buren Elementary School (math 42% / reading 42%, grade F, #563 of 616 statewide, top 93%, 365 students, 83% 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 71% FRL vs 43% district-wide (27 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 comparable units currently listed for rent nearby; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 29 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $158k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,038 (10.7% below list)

Questions for the listing agent

1. Built in 1951 — 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: 0.89% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (median comp): $300,194
• List price: $184,900
• Delta: -38.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1806 Holly Meadow Ave SW	0.35mi	3/2.0 (-1)	1,204 (+3%)	4mo	$299,990	$249	66
1506 14th Ave Ave SW	0.58mi	4/1.0	1,160 (-0%)	8mo	$142,500	$123	66
2721 Matthew Dr SW	0.64mi	3/1.5 (-1)	1,192 (+2%)	2mo	$155,000	$130	57
1812 Holly Meadow Ave SW	0.36mi	3/2.0 (-1)	1,336 (+15%)	2mo	$284,900	$213	48
2710 Hickory Dr SW	0.61mi	3/1.0 (-1)	1,040 (-11%)	3mo	$218,000	$210	47
1703 14th Ave SW	0.52mi	3/1.0 (-1)	1,008 (-13%)	2mo	$175,000	$174	47
2106 Shady Grove Rd Rd SW	0.39mi	3/2.0 (-1)	1,283 (+10%)	11mo	$302,000	$235	46
2201 Hughes Dr SW	0.32mi	3/2.5 (-1)	1,286 (+10%)	14mo	$205,000	$159	45
1902 Probst Ct SW	0.47mi	3/2.0 (-1)	1,294 (+11%)	12mo	$264,900	$205	40
1503 14th Avenue Ave SW	0.56mi	3/1.0 (-1)	1,276 (+10%)	15mo	$133,000	$104	40
1836 Holly Meadow Ave SW	0.37mi	3/2.0 (-1)	1,336 (+15%)	14mo	$274,990	$206	38
1122 20th Ave Ave SW	0.66mi	4/1.5	993 (-15%)	15mo	$200,000	$201	30

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: -9.2%
• Equity multiple: 0.65×
• Total profit: $-18,321
• Equity at exit: $27,569

10-year hold

• IRR: 5.9%
• Equity multiple: 1.53×
• Total profit: $27,537
• Equity at exit: $15,987

Cash invested: $51,772 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$212 /mo · $2,538/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $46

Break-even live

Break-even rent $1,593

Max offer price $184,900

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $98	+0% $46	+5% $-7	+10% $-59
Rent	-10% $-85	-5% $-20	+0% $46	+5% $111	+10% $176
Rate	-1.0pp $139	-0.5pp $93	base $46	+0.5pp $-2	+1.0pp $-51

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	15d	1	1.48mi

Listing history 12 events

1. 2026-05-15
   status Active 307-char remark

   Show marketing remark (307 chars)

   Charming 4-bedroom, 1-bath Craftsman-style 1.75-story home featuring beautiful natural hardwood floors and an updated kitchen and bath. Situated on a large lot, this property offers plenty of outdoor space and potential. A great opportunity for a first-time home buyer or investor. Home is being sold as is.

2. 2026-04-28
   status Pending 307-char remark

   Show marketing remark (307 chars)

   Charming 4-bedroom, 1-bath Craftsman-style 1.75-story home featuring beautiful natural hardwood floors and an updated kitchen and bath. Situated on a large lot, this property offers plenty of outdoor space and potential. A great opportunity for a first-time home buyer or investor. Home is being sold as is.

3. 2026-04-10
   listed $184,900 Active 307-char remark

   Show marketing remark (307 chars)

   Charming 4-bedroom, 1-bath Craftsman-style 1.75-story home featuring beautiful natural hardwood floors and an updated kitchen and bath. Situated on a large lot, this property offers plenty of outdoor space and potential. A great opportunity for a first-time home buyer or investor. Home is being sold as is.

4. 2023-12-20
   soldstatus $158,000
5. 2023-12-18
   historical 237-char remark

   Show marketing remark (237 chars)

   This Beautiful, BIG LOT, cottage style home is perfect for a family just getting started! The 4 bed 1 bath house is perfect for a growing family. The natural hardwood floors are absolutely beautiful and this property has so many updates!

6. 2023-12-18
   soldstatus $158,000 Closed 237-char remark

   Show marketing remark (237 chars)

   This Beautiful, BIG LOT, cottage style home is perfect for a family just getting started! The 4 bed 1 bath house is perfect for a growing family. The natural hardwood floors are absolutely beautiful and this property has so many updates!

7. 2023-11-17
   status Pending 237-char remark

   Show marketing remark (237 chars)

   This Beautiful, BIG LOT, cottage style home is perfect for a family just getting started! The 4 bed 1 bath house is perfect for a growing family. The natural hardwood floors are absolutely beautiful and this property has so many updates!

8. 2023-11-08
   listed $158,000 Active 237-char remark

   Show marketing remark (237 chars)

   This Beautiful, BIG LOT, cottage style home is perfect for a family just getting started! The 4 bed 1 bath house is perfect for a growing family. The natural hardwood floors are absolutely beautiful and this property has so many updates!

9. 2016-09-27
   soldstatus $1,575,952
10. 2015-01-22
    soldstatus $2,051,000
11. 2008-09-25
    soldstatus $112,500
12. 2007-08-02
    soldstatus $95,000

ⓘ 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: $2,538 · $212/mo
• Projected year-2 tax: $2,720 · $227/mo
• Expected delta: +$182/yr (+$15/mo · 7.2%)

ⓘ 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: $19,805
• − Mortgage interest: −$10,357
• − Property taxes: −$2,538
• − Insurance: −$924
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$5,379
• Taxable loss: −$2,563
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $1,163/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

+94.6% since first listed

12 events — show timeline

• 2026-05-15 Relisted — CRAAR, CDRMLS
• 2026-04-28 Pending — CRAAR, CDRMLS
• 2026-04-10 Listed $184,900 CRAAR, CDRMLS
• 2023-12-20 Sold (Public Records) $158,000 Public Records
• 2023-12-18 Delisted — CRAAR, CDRMLS
• 2023-12-18 Sold (MLS) $158,000 CRAAR, CDRMLS
• 2023-11-17 Pending — CRAAR, CDRMLS
• 2023-11-08 Listed $158,000 CRAAR, CDRMLS
• 2016-09-27 Sold (Public Records) $1,575,952 Public Records
• 2015-01-22 Sold (Public Records) $2,051,000 Public Records
• 2008-09-25 Sold (Public Records) $112,500 Public Records
• 2007-08-02 Sold (Public Records) $95,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,538 · +7.4% YoY. Source: county tax records.