4324 Benton St NE · Cedar Rapids, IA 52402

$119,950

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 4 Days on market

Built 1956 6,000 sqft lot Est $160k · 25% under

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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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 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 MLS

Sale Pending. .. .Very nice, move in ready and in the most perfect location! This solid ranch home is minutes from Noelridge Park/Waterpark, and from I-380. The many updates include new flooring in the living room, kitchen and hallway (2018), new paint all throughout (2018). The large eat in kitchen has brand new oven/range, counters, sink, faucet (2018). New windows throughout (most of them 2018). New window A/C will cool entire home (2018). All appliances included, home warranty included. Nice flat backyard.

Key facts

• Sanitary sewer work
• Curbs and gutters
• Cast iron sewer line

Tags

• NEW VINYL SIDING
• SANITARY SEWER WORK
• CURBS AND GUTTERS
• NEW DRIVEWAY APPROACH
• CAST IRON SEWER LINE

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: 60 x 100 lot dimensions

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Window/Wall air conditioning unit(s)
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• 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: Wright Elementary School (math 47% / reading 47%, grade D-, #530 of 616 statewide, top 88%, 295 students, 76% FRL); Harding Middle School (math 61% / reading 69%, grade A-, #154 of 246 statewide, top 63%, 713 students, 43% 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); 291 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 $830 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $88k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,950

Questions for the listing agent

1. Built in 1956 — 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: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $160,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4232 Sherman St NE	0.07mi	3/1.0	960 (0%)	2mo	$179,000	$186	95
4309 Benton St NE	0.03mi	3/1.0	960 (0%)	6mo	$84,501	$88	93
4509 Benton St St NE	0.11mi	3/1.0	960 (0%)	3mo	$166,000	$173	92
4439 Benton St St NE	0.08mi	3/1.0	960 (0%)	8mo	$139,900	$146	89
3711 Oakland Rd NE Rd NE	0.46mi	3/1.0	960 (0%)	7mo	$140,000	$146	72
1051 Clifton St St NE	0.42mi	3/1.0	920 (-4%)	1mo	$169,900	$185	72
1520 Richmond Rd NE	0.52mi	3/1.0	960 (0%)	8mo	$155,000	$161	69
1101 Clifton St St NE	0.41mi	2/1.0 (-1)	920 (-4%)	2mo	$194,900	$212	68
1505 Keith Dr NE	0.60mi	3/1.0	960 (0%)	8mo	$135,000	$141	65
3730 H Ave NE	0.75mi	3/1.0	960 (0%)	2mo	$160,000	$167	63
4331 Cavalier St NE	0.62mi	3/1.5	936 (-2%)	3mo	$161,000	$172	62
1011 Regent St NE	0.52mi	3/1.0	1,008 (+5%)	9mo	$138,000	$137	60

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-254
• Equity at exit: $17,885

10-year hold

• IRR: 14.2%
• Equity multiple: 2.41×
• Total profit: $47,277
• Equity at exit: $10,371

Cash invested: $33,586 (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: 291
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$170 /mo · $2,036/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $191

Break-even live

Break-even rent $1,074

Max offer price $119,950

Occupancy floor 80%

Sensitivity live

Price	-10% $259	-5% $225	+0% $191	+5% $157	+10% $124
Rent	-10% $87	-5% $139	+0% $191	+5% $243	+10% $295
Rate	-1.0pp $252	-0.5pp $222	base $191	+0.5pp $160	+1.0pp $129

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: $29,988
• Closing costs: $3,598
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4521 Rushmore Dr NE Unit D Cedar Rapids, IA	2.0	1.5	700	$895	$1.28	45d	1	0.18mi
4025 Sherman St NE Cedar Rapids, IA	1.0–2.0	1.0–1.5	742	$1,083	$1.46	15d	1	0.28mi

Listing history 4 events

1. 2026-06-09
   statusdays on market $119,950 Pending 4 DOM
2. 2026-06-08
   days on market $119,950 Active 3 DOM
3. 2026-06-07
   remarks 530-char remark
4. 2026-06-07
   listed $119,950 Active 2 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: $2,036 · $170/mo
• Projected year-2 tax: $2,036 · $170/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 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: $15,799
• − Mortgage interest: −$6,719
• − Property taxes: −$2,036
• − Insurance: −$600
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$3,489
• Taxable income: $427
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $2,195/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

+37.1% since first listed

5 events — show timeline

• 2026-06-05 Listed $119,950 CRAAR, CDRMLS
• 2018-05-15 Sold (Public Records) $87,500 Public Records
• 2018-05-15 Sold (Public Records) $87,500 Public Records
• 2018-05-14 Sold (MLS) $87,500 CRAAR, CDRMLS
• 2018-04-06 Listed $87,500 CRAAR, CDRMLS

Property tax history

+1.9%/yr

Latest (2025): $2,036 · +14.1% YoY. Source: county tax records.