509 14th St St SE · Cedar Rapids, IA 52403

$140,000

3 bd · 1.0 ba · 1,151 sqft · SingleFamily public records · 129 Days on market

Built 1916 1,742 sqft lot $122/sqft · 56% above area Est $120k · 16% over

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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).

• Cash flow +20.7/30.0
• DSCR +6.6/10.0
• 1% rule +5.0/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully updated and move-in ready, this property offers a great opportunity for both homeowners and investors alike. It has been refreshed throughout with a new kitchen, new flooring, fresh paint, updated fixtures, and new appliances, creating a clean, low-maintenance interior ready for immediate occupancy. Whether you’re looking for a primary residence or a solid rental addition to your portfolio, this home offers strong value with major updates already completed. Renter is in place currently on a month to month lease at $1500 - renter also pays all utilities.

Key facts

• New kitchen
• Fresh paint
• New flooring

Tags

• NEW KITCHEN
• NEW FLOORING
• FRESH PAINT
• UPDATED FIXTURES
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/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 $139k (0.5% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+14.7%/yr); 236 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $968 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 $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $72k; list at $140k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

• ARV (median comp): $120,355
• List price: $140,000
• Delta: 16.32%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1442 4th Ave SE	0.13mi	3/1.0	1,232 (+7%)	1mo	$138,000	$112	82
1529 6th Ave SE	0.17mi	3/1.0	1,248 (+8%)	1mo	$60,000	$48	77
1431 5th Ave SE	0.08mi	3/1.5	1,274 (+11%)	2mo	$125,000	$98	75
520 15th St St SE	0.11mi	2/1.0 (-1)	1,047 (-9%)	5mo	$42,000	$40	71
2005 Washington Ave SE	0.66mi	3/1.0	1,154 (+0%)	1mo	$110,000	$95	68
1506 8th Ave SE	0.21mi	2/1.5 (-1)	1,047 (-9%)	0mo	$113,400	$108	68
1516 8th Ave SE	0.22mi	2/1.0 (-1)	1,047 (-9%)	2mo	$137,500	$131	68
1741 4th Ave Ave SE	0.38mi	3/1.0	1,272 (+10%)	3mo	$130,000	$102	62
1751 Higley Ave Ave SE	0.50mi	2/1.0 (-1)	1,232 (+7%)	1mo	$117,500	$95	59
1007 10th St SE	0.44mi	4/1.0 (+1)	1,302 (+13%)	4mo	$128,000	$98	49
2039 Park Ave SE	0.74mi	2/1.5 (-1)	1,221 (+6%)	0mo	$95,000	$78	48
1949 Park Ave SE	0.65mi	3/2.0	1,300 (+13%)	6mo	$190,000	$146	39

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: -2.1%
• Equity multiple: 0.91×
• Total profit: $-3,333
• Equity at exit: $20,874

10-year hold

• IRR: 12.2%
• Equity multiple: 2.17×
• Total profit: $46,008
• Equity at exit: $12,105

Cash invested: $39,200 (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 52403

• Rents YoY: 14.7%
• Active inventory: 236
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,393 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$120 /mo · $1,434/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $188

Break-even live

Break-even rent $1,154

Max offer price $140,000

Occupancy floor 81%

Sensitivity live

Price	-10% $268	-5% $228	+0% $188	+5% $149	+10% $109
Rent	-10% $78	-5% $133	+0% $188	+5% $244	+10% $299
Rate	-1.0pp $259	-0.5pp $224	base $188	+0.5pp $152	+1.0pp $115

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	14d	6	0.35mi
730 Wellington St SE Cedar Rapids, IA	3.0	1.0	1366	$1,325	$0.97	21d	1	0.40mi
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	44d	1	0.67mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	44d	1	1.35mi

Listing history 32 events

1. 2026-06-19
   days on market $140,000 Active 129 DOM
2. 2026-06-18
   days on market $140,000 Active 128 DOM
3. 2026-06-17
   days on market $140,000 Active 127 DOM
4. 2026-06-16
   days on market $140,000 Active 126 DOM
5. 2026-06-15
   days on market $140,000 Active 125 DOM
6. 2026-06-14
   days on market $140,000 Active 123 DOM
7. 2026-06-13
   days on market $140,000 Active 122 DOM
8. 2026-06-10
   days on market $140,000 Active 120 DOM
9. 2026-06-09
   days on market $140,000 Active 119 DOM
10. 2026-06-08
    days on market $140,000 Active 118 DOM
11. 2026-06-07
    days on market $140,000 Active 117 DOM
12. 2026-06-05
    days on market $140,000 Active 114 DOM
13. 2026-06-03
    days on market $140,000 Active 113 DOM
14. 2026-06-02
    days on market $140,000 Active 112 DOM
15. 2026-06-01
    days on market $140,000 Active 111 DOM
16. 2026-05-31
    days on market $140,000 Active 110 DOM
17. 2026-05-30
    days on market $140,000 Active 109 DOM
18. 2026-02-10
    listed $140,000 Active 571-char remark

    Show marketing remark (571 chars)

    Fully updated and move-in ready, this property offers a great opportunity for both homeowners and investors alike. It has been refreshed throughout with a new kitchen, new flooring, fresh paint, updated fixtures, and new appliances, creating a clean, low-maintenance interior ready for immediate occupancy. Whether you’re looking for a primary residence or a solid rental addition to your portfolio, this home offers strong value with major updates already completed. Renter is in place currently on a month to month lease at $1500 - renter also pays all utilities.

19. 2026-02-10
    listed $140,000 Active 571-char remark

    Show marketing remark (571 chars)

    Fully updated and move-in ready, this property offers a great opportunity for both homeowners and investors alike. It has been refreshed throughout with a new kitchen, new flooring, fresh paint, updated fixtures, and new appliances, creating a clean, low-maintenance interior ready for immediate occupancy. Whether you’re looking for a primary residence or a solid rental addition to your portfolio, this home offers strong value with major updates already completed. Renter is in place currently on a month to month lease at $1500 - renter also pays all utilities.

20. 2025-05-29
    soldstatus $71,500
21. 2025-05-20
    soldstatus $71,500 Closed
22. 2025-04-17
    status Pending
23. 2025-04-10
    price $74,900
24. 2025-03-16
    price $79,900
25. 2025-03-02
    listed $89,900 Active
26. 2022-12-05
    historical
27. 2020-08-03
    soldstatus $29,000
28. 2020-07-31
    soldstatus $29,000
29. 2020-06-12
    listed $39,900
30. 2017-01-08
    listed $55,000
31. 2016-07-31
    listed $62,500
32. 2008-08-20
    soldstatus $25,000

ⓘ 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: $1,434 · $120/mo
• Projected year-2 tax: $1,816 · $151/mo
• Expected delta: +$382/yr (+$32/mo · 26.6%)

ⓘ 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: $16,716
• − Mortgage interest: −$7,842
• − Property taxes: −$1,434
• − Insurance: −$700
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$4,073
• Taxable loss: −$7
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $2,263/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): 22,551
• Household income: $74,703
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 452.0

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 (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 3% Slovak 3% Portuguese 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -170.15%
• Current HPI: 196.1114
• Rent YoY: ▲ 14.67%
• 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

+460.0% since first listed

15 events — show timeline

• 2026-02-10 Listed $140,000 CRAAR, CDRMLS
• 2026-02-10 Listed $140,000 ICAARMLS
• 2025-05-29 Sold (Public Records) $71,500 Public Records
• 2025-05-20 Sold (MLS) $71,500 CRAAR, CDRMLS
• 2025-04-17 Pending — CRAAR, CDRMLS
• 2025-04-10 Price Changed $74,900 CRAAR, CDRMLS
• 2025-03-16 Price Changed $79,900 CRAAR, CDRMLS
• 2025-03-02 Listed $89,900 CRAAR, CDRMLS
• 2022-12-05 Rental Removed — RENT.
• 2020-08-03 Sold (Public Records) $29,000 Public Records
• 2020-07-31 Sold (MLS) $29,000 CRAAR, CDRMLS
• 2020-06-12 Listed $39,900 CRAAR, CDRMLS
• 2017-01-08 Listed $55,000 CRAAR, CDRMLS
• 2016-07-31 Listed $62,500 CRAAR, CDRMLS
• 2008-08-20 Sold (Public Records) $25,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,434 · +38.7% YoY. Source: county tax records.