1520 4th Ave Ave · Cedar Rapids, IA 52403

$59,900

5 bd · 2.0 ba · 1,825 sqft · SingleFamily public records · 13 Days on market

Built 1905 8,400 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Priced over $60,000 below assessed value with plenty of upwards potential, but you will definitely need to bring your hammer and imagination to see how you can restore this 4 bedroom, 2 bath home to it’s original glory! Still has some of it’s original charm and character with pocket doors, most of it’s original woodwork and hardwood floors. Property does have a new roof in 2021 and all newer furnace, central air and water heater approximately 10 years ago, but the home needs extensive siding work and most of the interior will need to be remodeled. Property is being sold in as-is condition and the seller will not make any repairs. Only cash offers or commercial or rehabili

Key facts

• Pocket doors
• Newer furnace
• Original charm

Tags

• ORIGINAL CHARM
• POCKET DOORS
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• NEW ROOF
• NEWER FURNACE

Property features AI

Exterior

• Parking: Detached garage with 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with wood siding
• Exterior features: Fenced yard; Lot dimensions approximately 60 x 140

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Dryer; Dishwasher; Gas water heater; Range; Refrigerator; Washer; Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 25.8% 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: Johnson Steam Academy School (math 32% / reading 37%, grade F, #595 of 616 statewide, top 97%, 346 students, 74% FRL); Mckinley Steam Academy (math 45% / reading 55%, grade C, #216 of 246 statewide, top 88%, 448 students, 52% FRL); George Washington High School (math 44% / reading 62%, grade C-, #296 of 336 statewide, top 88%, 1,291 students, 49% FRL) — zoned schools average 59% FRL vs 43% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+14.7%/yr); 236 active listings in the ZIP; 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.06% ✓
• Cap rate: 25.77%
• Cash-on-cash: 69.56%
• DSCR: 4.09
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $169,725
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1538 Bever Avenue Ave SE	0.08mi	4/2.0 (-1)	1,791 (-2%)	3mo	$166,000	$93	86
1713 7th Ave SE	0.32mi	4/2.0 (-1)	1,826 (+0%)	0mo	$213,000	$117	80
1619 5th Ave Ave SE	0.17mi	4/1.0 (-1)	1,752 (-4%)	5mo	$122,500	$70	72
1812 Park Ave Ave SE	0.36mi	4/1.5 (-1)	1,916 (+5%)	0mo	$179,000	$93	68
1627 5th Ave SE	0.18mi	5/2.0	2,005 (+10%)	11mo	$152,500	$76	66
1806 7th Ave SE	0.36mi	4/1.5 (-1)	1,646 (-10%)	1mo	$230,000	$140	59
1735 4th Ave SE	0.24mi	4/2.5 (-1)	1,613 (-12%)	10mo	$95,000	$59	55
832 17th St SE	0.42mi	4/1.5 (-1)	1,723 (-6%)	12mo	$214,700	$125	54
1644 A Ave NE	0.50mi	4/2.0 (-1)	1,729 (-5%)	10mo	$158,000	$91	54
1721 Americus Drive Dr SE	0.73mi	4/2.0 (-1)	1,701 (-7%)	5mo	$159,900	$94	45
1936 Washington Ave SE	0.45mi	4/1.0 (-1)	1,646 (-10%)	14mo	$175,000	$106	42
1112 8th St SE	0.70mi	4/2.0 (-1)	1,942 (+6%)	13mo	$169,000	$87	41

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: 74.9%
• Equity multiple: 4.69×
• Total profit: $61,959
• Equity at exit: $8,931

10-year hold

• IRR: 80.1%
• Equity multiple: 11.61×
• Total profit: $178,021
• Equity at exit: $5,179

Cash invested: $16,772 (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 52403

• Rents YoY: 14.7%
• Active inventory: 236
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,832 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$136 /mo · $1,636/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $972

Break-even live

Break-even rent $602

Max offer price $59,900

Occupancy floor 42%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $59,900 Active 13 DOM
2. 2026-06-18
   days on market $59,900 Active 12 DOM
3. 2026-06-17
   days on market $59,900 Active 11 DOM
4. 2026-06-16
   days on market $59,900 Active 10 DOM
5. 2026-06-15
   days on market $59,900 Active 9 DOM
6. 2026-06-14
   days on market $59,900 Active 7 DOM
7. 2026-06-13
   days on market $59,900 Active 6 DOM
8. 2026-06-10
   days on market $59,900 Active 4 DOM
9. 2026-06-09
   days on market $59,900 Active 3 DOM
10. 2026-06-08
    days on market $59,900 Active 2 DOM
11. 2026-06-07
    remarks 681-char remark
12. 2026-06-07
    listed $59,900 Active 1 DOM

ⓘ 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: $1,636 · $136/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,988
• − Mortgage interest: −$3,355
• − Property taxes: −$1,636
• − Insurance: −$300
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$1,743
• Taxable income: $11,437
• Est. tax owed @ 24.0%: −$2,745
• After-tax cash flow: $8,921/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): 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

1 event — show timeline

• 2026-06-06 Listed $59,900 CRAAR, CDRMLS

Property tax history

+13.6%/yr

Latest (2025): $1,636 · +15.4% YoY. Source: county tax records.