415 W Cedar St · Cedar Rapids, NE 68627

$25,000

3 bd · 1.0 ba · 1,268 sqft · SingleFamily public records · 81 Days on market

Built 1905 7,841 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This potential 3 bedroom, 1 bath home in Cedar Rapids offers a great opportunity for the right buyer. Situated on a large corner lot, the property has been cleaned out and some projects have already been started, giving you a head start on making it your own. With a little vision and effort, this could be a great investment or personal home. Property is being sold as-is.

Key facts

• Large corner lot
• 7,841 sq ft lot
• Garage

Tags

• LARGE CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#266 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Zoned schools: Riverside Middle School (math 57% / reading 57%, grade B, #25 of 128 statewide, top 20%, 48 students, 62% FRL); Riverside High School (math 50% / reading 70%, grade C+, #49 of 261 statewide, top 26%, 72 students, 43% FRL).
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Boone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $923 of equity ($173 loan paydown + $750 appreciation (3.0% local appreciation)).
• Boone County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $17k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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. 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.
7. 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.
8. 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: 4.51% ✓
• Cap rate: 41.79%
• Cash-on-cash: 126.79%
• DSCR: 6.64
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.16×
• Total profit: $50,122
• Equity at exit: $11,241

10-year hold

• IRR: —
• Equity multiple: 17.06×
• Total profit: $112,422
• Equity at exit: $17,324

Cash invested: $7,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Nebraska: 83 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; moderate court pace.

Methodology + full state rankings →

ZIP-level market 68627

• Active inventory: 1
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,129 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$10 /mo · $125/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $740

Break-even live

Break-even rent $192

Max offer price $25,000

Occupancy floor 29%

Sensitivity live

Price	-10% $754	-5% $747	+0% $740	+5% $733	+10% $725
Rent	-10% $650	-5% $695	+0% $740	+5% $784	+10% $829
Rate	-1.0pp $752	-0.5pp $746	base $740	+0.5pp $733	+1.0pp $727

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $25,000 Active 81 DOM
2. 2026-06-21
   days on market $25,000 Active 80 DOM
3. 2026-06-18
   days on market $25,000 Active 78 DOM
4. 2026-06-17
   days on market $25,000 Active 77 DOM
5. 2026-06-16
   days on market $25,000 Active 76 DOM
6. 2026-06-15
   days on market $25,000 Active 75 DOM
7. 2026-06-13
   days on market $25,000 Active 73 DOM
8. 2026-06-12
   days on market $25,000 Active 72 DOM
9. 2026-06-09
   days on market $25,000 Active 69 DOM
10. 2026-06-08
    days on market $25,000 Active 68 DOM
11. 2026-06-07
    days on market $25,000 Active 67 DOM
12. 2026-06-05
    days on market $25,000 Active 65 DOM
13. 2026-06-04
    days on market $25,000 Active 63 DOM
14. 2026-06-02
    days on market $25,000 Active 62 DOM
15. 2026-06-01
    days on market $25,000 Active 61 DOM
16. 2026-05-31
    days on market $25,000 Active 60 DOM
17. 2026-03-30
    listed $25,000 New 376-char remark

    Show marketing remark (376 chars)

    This potential 3 bedroom, 1 bath home in Cedar Rapids offers a great opportunity for the right buyer. Situated on a large corner lot, the property has been cleaned out and some projects have already been started, giving you a head start on making it your own. With a little vision and effort, this could be a great investment or personal home. Property is being sold as-is.

18. 2024-05-08
    soldstatus $17,000 Sold 135-char remark

    Show marketing remark (135 chars)

    This property is being sold "As-Is." If you have good vision and you are handy, this may be the project you are looking for.

19. 2024-05-07
    soldstatus $17,000
20. 2024-04-25
    status Pending 135-char remark

    Show marketing remark (135 chars)

    This property is being sold "As-Is." If you have good vision and you are handy, this may be the project you are looking for.

21. 2024-04-11
    listed $20,000 New 135-char remark

    Show marketing remark (135 chars)

    This property is being sold "As-Is." If you have good vision and you are handy, this may be the project you are looking for.

22. 2019-12-13
    soldstatus $15,000
23. 2006-07-06
    soldstatus $14,000
24. 2004-09-17
    soldstatus $9,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NE · Resets to sale price

• Current annual tax: $125 · $10/mo
• Projected year-2 tax: $432 · $36/mo
• Expected delta: +$307/yr (+$26/mo · 245.8%)

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

Taxation est. · year 1

• Rental income: $13,543
• − Mortgage interest: −$1,400
• − Property taxes: −$125
• − Insurance: −$125
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$727
• Taxable income: $8,998
• Est. tax owed @ 24.0%: −$2,160
• After-tax cash flow: $6,716/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)

No district data.

Livability — Cedar Rapids

• Score: 68/100
• State rank: #266
• US rank: #9606

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Rapids, NE
• Population (ZIP): 679

Population outlook (Boone County) Hauer SSP2

• Today (2025): 4,957 people
• By 2030: 4,792 · -3.3%
• By 2040: 4,502 · -9.2%
• By 2050: 4,243 · -14.4%
• By 2075: 4,095 · -17.4%
• By 2100: 3,997 · -19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 9% Hispanic / Latino 5% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Romanian 3% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Boone

• 2024 margin: Solid R (+66.1) · D 16.4% · R 82.5% · Other 1.2%
• 2008→2024 swing: -20.2pp toward R · 2008: -45.8pp · 2024: -66.1pp
• All cycles: 2024: R+66.1 2020: R+66.8 2016: R+65.8 2012: R+54.3 2008: R+45.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 0.68%
• F500 in state: 2

Industry mix (Fortune 500 HQ in NE)

Industry	F500 HQs	Revenue
▸Conglomerate	1	$371B

Price history

+177.8% since first listed

8 events — show timeline

• 2026-03-30 Listed $25,000 GPRMLS
• 2024-05-08 Sold (MLS) $17,000 GPRMLS
• 2024-05-07 Sold (Public Records) $17,000 Public Records
• 2024-04-25 Pending — GPRMLS
• 2024-04-11 Listed $20,000 GPRMLS
• 2019-12-13 Sold (Public Records) $15,000 Public Records
• 2006-07-06 Sold (Public Records) $14,000 Public Records
• 2004-09-17 Sold (Public Records) $9,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $125 · +18.0% YoY. Source: county tax records.