915 Center Point Rd NE · Cedar Rapids, IA 52402

$121,700

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 6 Days on market

Built 1946 5,619 sqft lot Est $115k · 6% over

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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).

• Cash flow +19.1/30.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• ARV discount +5.0/15.0
• 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

Cute 1.5 story home has three bedrooms, two on the main level and one larger bedroom upstairs. Main level has plaster walls & coved ceilings. Nice bathroom. Kitchen has newer flooring, paint and comes with appliances. The unfinished basement has been freshly painted. Washer and dryer stay. Newer vinyl siding, garage roof and several newer windows. Spacious chain link fenced level backyard with a two car detached garage and 4-6 parking spaces off the alley next to garage.

Key facts

• 5,619 sq ft lot
• 2 garage spots
• Built 1946

Property features AI

Exterior

• Parking: Detached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half level; 1 story
• Construction: Frame construction with vinyl siding
• Exterior features: Patio; Fenced yard; Lot approximately 40 x 140 (0.129 acres)

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Cap rate 7.6% 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: 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); 286 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $841 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $79k; list at $122k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,700

Questions for the listing agent

1. Built in 1946 — 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: 1.01% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $115,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 Center Point Rd NE	0.00mi	3/1.0 (+1)	784 (0%)	0mo	$135,000	$172	95
923 Oakland Rd NE	0.15mi	2/1.0	836 (+7%)	2mo	$4,201	$5	80
910 Maplewood Dr Dr NE	0.31mi	2/1.0	780 (-0%)	6mo	$128,000	$164	80
1051 12th St St NE	0.21mi	2/1.0	816 (+4%)	7mo	$43,500	$53	78
1158 Brown Ave NE	0.10mi	2/1.5	819 (+4%)	10mo	$119,000	$145	77
813 Oakland Rd NE	0.26mi	2/1.0	734 (-6%)	2mo	$157,700	$215	76
1613 I Ave	0.38mi	2/1.0	748 (-5%)	4mo	$100,000	$134	71
1228 Oakland Rd Rd NE	0.41mi	2/1.0	816 (+4%)	4mo	$120,000	$147	71
1032 Maplewood Dr. Dr NE	0.34mi	2/1.0	711 (-9%)	8mo	$129,500	$182	62
1522 J Ave NE	0.41mi	2/1.0	852 (+9%)	6mo	$127,500	$150	62
1815 E Ave Ave NE	0.65mi	2/1.0	736 (-6%)	5mo	$75,000	$102	56
420 16th St NE	0.55mi	2/1.0	692 (-12%)	7mo	$72,500	$105	49

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: -3.7%
• Equity multiple: 0.85×
• Total profit: $-5,035
• Equity at exit: $18,146

10-year hold

• IRR: 10.9%
• Equity multiple: 2.05×
• Total profit: $35,774
• Equity at exit: $10,522

Cash invested: $34,076 (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: 286
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$638
• Tax from tax record: −$154 /mo · $1,842/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $128

Break-even live

Break-even rent $1,066

Max offer price $121,700

Occupancy floor 85%

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: $30,425
• Closing costs: $3,651
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 Sierra Dr NE Cedar Rapids, IA	1.0–2.0	1.0–2.0	985	$1,000	$1.02	43d	1	0.52mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	43d	1	1.09mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	1.42mi

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-24
   listed $121,700 Active
3. 2011-05-18
   soldstatus $79,000

ⓘ 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: $1,842 · $154/mo
• Projected year-2 tax: $1,876 · $156/mo
• Expected delta: +$34/yr (+$3/mo · 1.9%)

ⓘ 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 ≥104°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: $14,745
• − Mortgage interest: −$6,817
• − Property taxes: −$1,842
• − Insurance: −$608
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,540
• Taxable loss: −$422
• Est. tax savings @ 24.0%: +$101
• After-tax cash flow: $1,641/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

+54.1% since first listed

3 events — show timeline

• 2026-04-30 Pending — CRAAR, CDRMLS
• 2026-04-24 Listed $121,700 CRAAR, CDRMLS
• 2011-05-18 Sold (Public Records) $79,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,842 · +2.6% YoY. Source: county tax records.