1701 Washington Ave SE · Cedar Rapids, IA 52403

$154,990

3 bd · 1.0 ba · 1,558 sqft · SingleFamily public records · 14 Days on market

Built 1914 3,615 sqft lot $99/sqft · 15% above area Est $134k · 15% over

---

Why this score? — see what drove the D 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 +16.4/30.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks

NOW with CENTRAL AIR!!! Step into timeless character blended seamlessly with modern comfort in this beautifully updated turn-of-the-century home. The curb appeal will draw you in, but the inside will feel like home! You’re first welcomed by a charming wraparound enclosed porch, the perfect spot to relax and unwind, which leads into a warm and inviting main floor featuring rich hardwood floors and ample natural light. The fully updated kitchen is a true highlight, offering generous counter space, abundant cabinetry, tiled backsplash and newer appliances, ideal for both everyday living and entertaining. Just off the kitchen, you’ll find convenient main floor laundry and access to

Key facts

• Extra storage space
• Semi-private patio
• Vinyl windows

Tags

• WRAPAROUND ENCLOSED PORCH
• FULLY UPDATED KITCHEN
• SEMI-PRIVATE PATIO
• VINYL WINDOWS
• STYLISH TILED SHOWER
• EXTRA STORAGE SPACE

Property features AI

Exterior

• Parking: Attached garage (1 space); Off-street parking
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels / 2 stories
• Construction: Frame construction with wood siding
• Exterior features: Patio; Shed(s)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Fireplace insert heating; Central air conditioning
• Interior features: Fireplace with insert in the family room; Full basement; Patio
• Laundry & utility: Washer and Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (4.6% below list).
• Recommended offer: $148k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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; 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 $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 $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $115k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,905 (4.6% below list)

Questions for the listing agent

1. Built in 1914 — 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. 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?
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: 0.95% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (median comp): $134,209
• List price: $154,990
• Delta: 11.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
335 18th St SE	0.21mi	3/1.5	1,529 (-2%)	1mo	$189,000	$124	84
385 21st St St SE	0.42mi	3/2.0	1,555 (-0%)	0mo	$255,000	$164	76
1645 D Ave NE	0.63mi	3/1.0	1,578 (+1%)	0mo	$170,000	$108	68
2026 Bever Ave SE	0.35mi	3/1.5	1,678 (+8%)	1mo	$210,000	$125	68
1806 7th Ave SE	0.35mi	4/1.5 (+1)	1,646 (+6%)	1mo	$230,000	$140	66
2009 Blake Blvd SE	0.38mi	3/1.5	1,720 (+10%)	2mo	$305,000	$177	61
513 16th ST St SE	0.25mi	3/1.5	1,332 (-14%)	1mo	$150,000	$113	61
330 Crescent St SE	0.46mi	3/2.0	1,418 (-9%)	0mo	$282,500	$199	60
847 Camburn Ct SE	0.53mi	3/1.0	1,350 (-13%)	1mo	$148,000	$110	52
1915 C Ave	0.70mi	3/1.0	1,398 (-10%)	3mo	$174,000	$124	48
846 15th St SE	0.54mi	3/1.5	1,332 (-14%)	1mo	$121,900	$92	48
2253 Meadowbrook Dr Dr SE	0.58mi	3/2.0	1,325 (-15%)	1mo	$204,000	$154	43

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: -6.9%
• Equity multiple: 0.73×
• Total profit: $-11,587
• Equity at exit: $23,110

10-year hold

• IRR: 8.1%
• Equity multiple: 1.76×
• Total profit: $32,917
• Equity at exit: $13,401

Cash invested: $43,397 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$202 /mo · $2,422/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $89

Break-even live

Break-even rent $1,366

Max offer price $154,990

Occupancy floor 89%

Sensitivity live

Price	-10% $177	-5% $133	+0% $89	+5% $45	+10% $2
Rent	-10% $-28	-5% $31	+0% $89	+5% $148	+10% $206
Rate	-1.0pp $167	-0.5pp $129	base $89	+0.5pp $49	+1.0pp $8

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: $38,748
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 Wellington St SE Cedar Rapids, IA	3.0	1.0	1366	$1,325	$0.97	21d	1	0.39mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	14d	6	0.64mi

Listing history 24 events

1. 2026-06-19
   days on market $154,990 Active 14 DOM
2. 2026-06-18
   days on market $154,990 Active 13 DOM
3. 2026-06-17
   days on market $154,990 Active 12 DOM
4. 2026-06-16
   days on market $154,990 Active 11 DOM
5. 2026-06-15
   days on market $154,990 Active 10 DOM
6. 2026-06-14
   days on market $154,990 Active 8 DOM
7. 2026-06-13
   days on market $154,990 Active 7 DOM
8. 2026-06-10
   days on market $154,990 Active 5 DOM
9. 2026-06-09
   days on market $154,990 Active 4 DOM
10. 2026-06-08
    days on market $154,990 Active 3 DOM
11. 2026-06-07
    pricedays on marketlisting id $154,990 Active 2 DOM
12. 2026-06-05
    days on market $149,990 Active 51 DOM
13. 2026-06-03
    days on market $149,990 Active 50 DOM
14. 2026-06-02
    days on market $149,990 Active 49 DOM
15. 2026-06-01
    days on market $149,990 Active 48 DOM
16. 2026-05-31
    days on market $149,990 Active 47 DOM
17. 2026-05-30
    days on market $149,990 Active 46 DOM
18. 2026-05-11
    price $149,990 1162-char remark
19. 2026-04-30
    price $154,990 1162-char remark
20. 2026-04-14
    listed $159,990 Active 1162-char remark
21. 2021-12-16
    soldstatus $115,000
22. 2021-12-15
    soldstatus $115,000
23. 2021-05-19
    listed $115,000
24. 2020-07-31
    soldstatus $15,000

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

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $2,422 · $202/mo
• Projected year-2 tax: $2,428 · $202/mo
• Expected delta: +$6/yr ($0/mo · 0.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $17,749
• − Mortgage interest: −$8,682
• − Property taxes: −$2,422
• − Insurance: −$775
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$4,509
• Taxable loss: −$1,479
• Est. tax savings @ 24.0%: +$355
• After-tax cash flow: $1,426/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

+933.3% since first listed

7 events — show timeline

• 2026-06-05 Listed $154,990 CRAAR, CDRMLS
• 2026-05-11 Price Changed $149,990 CRAAR, CDRMLS
• 2026-04-30 Price Changed $154,990 CRAAR, CDRMLS
• 2021-12-16 Sold (Public Records) $115,000 Public Records
• 2021-12-15 Sold (MLS) $115,000 CRAAR, CDRMLS
• 2021-05-19 Listed $115,000 CRAAR, CDRMLS
• 2020-07-31 Sold (Public Records) $15,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,422 · +4.4% YoY. Source: county tax records.