1562 4th Ave SE · Cedar Rapids, IA 52403

$189,900

3 bd · 1.0 ba · 1,539 sqft · SingleFamily public records · 1 Days on market

Built 1905 Est $192k · at est.

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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 +11.8/30.0
• ARV discount +8.1/15.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Alert!! This is a great opportunity for equity! This is a large home with so much character still in place! The Home had a fire in the attic and the entire upstairs has been gutted and parts of the main floor so it is just waiting for someone to fix it and rehab! Roof has extensive damage due to fire and will need rebuilt but home is priced accordingly.

Key facts

• Fully remodeled
• Bonus attic room
• New major systems

Tags

• FULLY REMODELED
• MODERN SCANDINAVIAN STYLE
• NEW MAJOR SYSTEMS
• DEDICATED OFFICE
• COZY FAMILY ROOM
• BONUS ATTIC ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-52 ($-622/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (22.1% below list).
• Recommended offer: $148k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• 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 $6k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $25k; list at $190k implies a 660% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $147,883 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.17%
• DSCR: 0.95
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $192,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1740 5th Ave SE	0.18mi	3/2.0	1,505 (-2%)	3mo	$50,000	$33	82
335 18th St SE	0.36mi	3/1.5	1,529 (-1%)	1mo	$189,000	$124	80
385 21st St St SE	0.50mi	3/2.0	1,555 (+1%)	0mo	$255,000	$164	70
513 16th ST St SE	0.12mi	3/1.5	1,332 (-14%)	1mo	$150,000	$113	69
1806 7th Ave SE	0.30mi	4/1.5 (+1)	1,646 (+7%)	1mo	$230,000	$140	67
1645 D Ave NE	0.69mi	3/1.0	1,578 (+2%)	0mo	$170,000	$108	63
2026 Bever Ave SE	0.45mi	3/1.5	1,678 (+9%)	1mo	$210,000	$125	61
847 Camburn Ct SE	0.40mi	3/1.0	1,350 (-12%)	1mo	$148,000	$110	60
846 15th St SE	0.41mi	3/1.5	1,332 (-14%)	1mo	$121,900	$92	56
330 Crescent St SE	0.60mi	3/2.0	1,418 (-8%)	0mo	$282,500	$199	55
2009 Blake Blvd SE	0.52mi	3/1.5	1,720 (+12%)	2mo	$305,000	$177	52
2253 Meadowbrook Dr Dr SE	0.66mi	3/2.0	1,325 (-14%)	1mo	$204,000	$154	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: -13.2%
• Equity multiple: 0.51×
• Total profit: $-26,295
• Equity at exit: $28,315

10-year hold

• IRR: 1.8%
• Equity multiple: 1.16×
• Total profit: $8,280
• Equity at exit: $16,419

Cash invested: $53,172 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$145 /mo · $1,742/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-52

Break-even live

Break-even rent $1,544

Max offer price $180,737

Occupancy floor 99%

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: $47,475
• Closing costs: $5,697
• 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	0.35mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	0.53mi

Listing history 7 events

1. 2026-05-26
   listed $189,900 Active
2. 2025-10-24
   soldstatus $25,000 Closed 366-char remark

   Show marketing remark (366 chars)

   Investment Alert!! This is a great opportunity for equity! This is a large home with so much character still in place! The Home had a fire in the attic and the entire upstairs has been gutted and parts of the main floor so it is just waiting for someone to fix it and rehab! Roof has extensive damage due to fire and will need rebuilt but home is priced accordingly.

3. 2025-10-06
   status Pending 366-char remark

   Show marketing remark (366 chars)

   Investment Alert!! This is a great opportunity for equity! This is a large home with so much character still in place! The Home had a fire in the attic and the entire upstairs has been gutted and parts of the main floor so it is just waiting for someone to fix it and rehab! Roof has extensive damage due to fire and will need rebuilt but home is priced accordingly.

4. 2025-09-29
   listed $29,000 Active 366-char remark

   Show marketing remark (366 chars)

   Investment Alert!! This is a great opportunity for equity! This is a large home with so much character still in place! The Home had a fire in the attic and the entire upstairs has been gutted and parts of the main floor so it is just waiting for someone to fix it and rehab! Roof has extensive damage due to fire and will need rebuilt but home is priced accordingly.

5. 2022-09-30
   soldstatus $45,000 Closed 167-char remark

   Show marketing remark (167 chars)

   Older 2 story built in 1905 has 3 bedrooms, fireplace, open front porch, stone basement, an irregular shaped lot. All information believed accurate but not guaranteed.

6. 2022-09-09
   status Pending 167-char remark

   Show marketing remark (167 chars)

   Older 2 story built in 1905 has 3 bedrooms, fireplace, open front porch, stone basement, an irregular shaped lot. All information believed accurate but not guaranteed.

7. 2022-08-16
   listed $47,500 Active 167-char remark

   Show marketing remark (167 chars)

   Older 2 story built in 1905 has 3 bedrooms, fireplace, open front porch, stone basement, an irregular shaped lot. All information believed accurate but not guaranteed.

ⓘ 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: $1,742 · $145/mo
• Projected year-2 tax: $2,362 · $197/mo
• Expected delta: +$620/yr (+$52/mo · 35.6%)

ⓘ 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: $17,746
• − Mortgage interest: −$10,637
• − Property taxes: −$1,742
• − Insurance: −$950
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$5,524
• Taxable loss: −$3,947
• Est. tax savings @ 24.0%: +$947
• After-tax cash flow: $325/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

+299.8% since first listed

7 events — show timeline

• 2026-05-26 Listed $189,900 Fizber.com
• 2025-10-24 Sold (MLS) $25,000 CRAAR, CDRMLS
• 2025-10-06 Pending — CRAAR, CDRMLS
• 2025-09-29 Listed $29,000 CRAAR, CDRMLS
• 2022-09-30 Sold (MLS) $45,000 CRAAR, CDRMLS
• 2022-09-09 Pending — CRAAR, CDRMLS
• 2022-08-16 Listed $47,500 CRAAR, CDRMLS

Property tax history

+2.5%/yr

Latest (2025): $1,742 · +16.0% YoY. Source: county tax records.