2033 Coldstream Ave NE · Cedar Rapids, IA 52402

$237,900

3 bd · 1.5 ba · 1,661 sqft · SingleFamily public records · 8 Days on market

Built 1966 6,534 sqft lot $143/sqft · 30% above area Est $253k · 6% under

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Why this score? — see what drove the F 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 +10.2/15.0
• Cash flow +5.6/30.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Remodeled home in the desirable Kennedy High School area. Featuring fresh interior paint (2026), new flooring throughout (2026), and all new stainless appliances (2026). This property offers a clean, move-in-ready feel while still leaving room to make it your own. Complete with a fifth (5) non-conforming bedroom, great proximity to I-380, Hy-Vee, Shaver Park, shopping, and everyday amenities. A great opportunity for a buyer looking for an updated home in a well-established neighborhood with room to add their own finishing touches.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1966

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding and frame construction
• Exterior features: Patio; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced air heating
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Full walk-out basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $238k.

Deal economics

• At list price, monthly cash flow is $-550 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (40.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (41.7% below list).
• Recommended offer: $139k (41.7% below list) — sets the bar for 1% rule.

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: Pierce Elementary School (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 326 students, 35% FRL); Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); John F Kennedy High School (math 63% / reading 77%, grade B+, #146 of 336 statewide, top 45%, 1,714 students, 31% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 290 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 $2k of loan paydown is wiped out by about $7k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,619 (41.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.58% ✗
• Cap rate: 3.80%
• Cash-on-cash: -8.91%
• DSCR: 0.60
• GRM: 14.3

CMA / ARV

• ARV (median comp): $252,882
• List price: $237,900
• Delta: -5.92%
• 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
1708 Linmar Dr NE	0.13mi	3/1.5	1,820 (+10%)	8mo	$202,000	$111	72
2906 Russell Dr NE	0.42mi	4/1.5 (+1)	1,568 (-6%)	0mo	$205,000	$131	66
3125 Shasta Ct Ct NE	0.62mi	3/2.0	1,686 (+2%)	3mo	$230,000	$136	65
2041 Birchwood Dr Dr NE	0.54mi	3/2.5	1,613 (-3%)	6mo	$185,000	$115	61
1047 Daniels St NE	0.66mi	4/1.5 (+1)	1,568 (-6%)	2mo	$180,500	$115	54
1427 Daniels St St	0.44mi	4/2.0 (+1)	1,768 (+6%)	12mo	$205,000	$116	52
1609 Wildwood Dr NE	0.60mi	3/3.0	1,782 (+7%)	4mo	$240,000	$135	51
1225 29th St NE	0.75mi	4/2.0 (+1)	1,746 (+5%)	0mo	$205,000	$117	49
1261 Elmhurst Dr Dr NE	0.75mi	3/2.5	1,714 (+3%)	9mo	$212,000	$124	48
1728 34th St NE	0.54mi	3/2.0	1,496 (-10%)	12mo	$211,000	$141	47
1251 30th St St NE	0.75mi	3/2.0	1,588 (-4%)	11mo	$214,400	$135	46
3022 Alleghany Dr NE	0.63mi	4/3.0 (+1)	1,867 (+12%)	2mo	$131,000	$70	37

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: -28.8%
• Equity multiple: 0.01×
• Total profit: $-66,253
• Equity at exit: $35,472

10-year hold

• IRR: -15.3%
• Equity multiple: -0.04×
• Total profit: $-69,393
• Equity at exit: $20,569

Cash invested: $66,612 (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: 14.3×

Monthly cashflow live

• Estimated rent: $1,386 medium
• Mortgage (P&I): −$1,248
• Tax from tax record: −$243 /mo · $2,918/yr
• Insurance: −$99
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-550

Break-even live

Break-even rent $2,083

Max offer price $140,684

Occupancy floor —

Sensitivity live

Price	-10% $-416	-5% $-483	+0% $-550	+5% $-618	+10% $-685
Rent	-10% $-660	-5% $-605	+0% $-550	+5% $-496	+10% $-441
Rate	-1.0pp $-431	-0.5pp $-490	base $-550	+0.5pp $-612	+1.0pp $-675

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: $59,475
• Closing costs: $7,137
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	45d	1	0.34mi
1127 34th St NE Cedar Rapids, IA	3.0	2.0	1152	$1,385	$1.20	45d	1	0.98mi

Listing history 3 events

1. 2026-05-12
   status Pending 536-char remark
2. 2026-05-04
   listed $237,900 Active 536-char remark
3. 2025-10-06
   soldstatus $148,625

ⓘ 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: $2,918 · $243/mo
• Projected year-2 tax: $3,327 · $277/mo
• Expected delta: +$409/yr (+$34/mo · 14.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $16,634
• − Mortgage interest: −$13,326
• − Property taxes: −$2,918
• − Insurance: −$1,856
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$6,921
• Taxable loss: −$11,048
• Est. tax savings @ 24.0%: +$2,652
• After-tax cash flow: $-3,952/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

+60.1% since first listed

4 events — show timeline

• 2026-06-05 Sold (MLS) $238,000 CRAAR, CDRMLS
• 2026-05-12 Pending — CRAAR, CDRMLS
• 2026-05-04 Listed $237,900 CRAAR, CDRMLS
• 2025-10-06 Sold (Public Records) $148,625 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,918 · +7.4% YoY. Source: county tax records.