1001 17th St NE · Cedar Rapids, IA 52402

$175,000

5 bd · 2.5 ba · 2,368 sqft · SingleFamily public records · 3 Days on market

Built 1908 8,407 sqft lot Est $189k · 8% 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).

• Cash flow +22.1/30.0
• ARV discount +10.9/15.0
• DSCR +7.1/10.0
• 1% rule +6.0/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sprawling 2,300 sq. ft. home bursting with potential and ready for its next chapter! Featuring 5 bedrooms, 2 full bathrooms, and a large entertaining area, this property offers plenty of space to make your vision a reality. Major updates include a new roof and siding in 2020, plus a heated 3-car garage. The home is being sold AS-IS and is in need of cosmetic updates, making it a great opportunity for investors, flippers, or buyers looking to build sweat equity. Seller will accept offers through Sunday, June 15th at 12:00 PM and will respond to all offers by 8:00 PM that evening. Seller reserves the right to accept an offer prior to the deadline.

Key facts

• 8,407 sq ft lot
• 3 garage spots
• Built 1908

Property features AI

Exterior

• Parking: Detached heated garage with 3 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-level home
• Construction: Frame construction with vinyl siding
• Exterior features: Lot dimensions approximately 60 x 140

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Partial basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.2% 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); 290 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/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 $5k 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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $175k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1908 — 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: 1.10% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $189,440
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1112 Elmhurst Dr NE	0.16mi	5/1.5	2,464 (+4%)	10mo	$160,000	$65	73
1720 2nd Ave Ave SE	0.65mi	5/2.0	2,340 (-1%)	2mo	$250,000	$107	64
1727 B Ave NE	0.46mi	5/2.5	2,117 (-11%)	1mo	$225,000	$106	60
1971 B Ave NE	0.62mi	5/2.0	2,341 (-1%)	9mo	$153,500	$66	59
1285 30th St NE	0.74mi	4/2.0 (-1)	2,304 (-3%)	1mo	$185,000	$80	53
1408 B Ave NE	0.57mi	4/2.0 (-1)	2,491 (+5%)	11mo	$56,000	$22	49
8907 Zeppelin Ave NE	0.52mi	4/3.0 (-1)	2,191 (-8%)	11mo	$455,529	$208	47
1400 Elmhurst Dr NE	0.61mi	5/3.0	2,285 (-4%)	23mo	$272,000	$119	45
330 21st St NE	0.69mi	4/2.0 (-1)	2,542 (+7%)	19mo	$199,500	$78	33

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-178
• Equity at exit: $26,093

10-year hold

• IRR: 14.2%
• Equity multiple: 2.42×
• Total profit: $69,436
• Equity at exit: $15,131

Cash invested: $49,000 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,924 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$247 /mo · $2,962/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $282

Break-even live

Break-even rent $1,566

Max offer price $175,000

Occupancy floor 80%

Sensitivity live

Price	-10% $381	-5% $332	+0% $282	+5% $233	+10% $183
Rent	-10% $130	-5% $206	+0% $282	+5% $358	+10% $434
Rate	-1.0pp $370	-0.5pp $327	base $282	+0.5pp $237	+1.0pp $191

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-15
   statusdays on market $175,000 Pending 3 DOM
2. 2026-06-14
   days on market $175,000 Active 2 DOM
3. 2026-06-13
   remarks 653-char remark
4. 2026-06-13
   listed $175,000 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: $2,962 · $247/mo
• Projected year-2 tax: $2,962 · $247/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 5/10 Major FEMA zone X (unshaded) · 47% 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: $23,082
• − Mortgage interest: −$9,803
• − Property taxes: −$2,962
• − Insurance: −$875
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$5,091
• Taxable income: $658
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $3,227/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

+169.2% since first listed

2 events — show timeline

• 2026-06-11 Listed $175,000 CRAAR, CDRMLS
• 2013-09-09 Sold (Public Records) $65,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,962 · +11.9% YoY. Source: county tax records.