208 7th St SW · Cedar Rapids, IA 52404

$128,500

3 bd · 2.0 ba · 1,002 sqft · SingleFamily public records · 60 Days on market

Built 1890 3,200 sqft lot Est $116k · 11% over

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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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +6.0/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

RARE main floor master bedroom AND Master Bath, AND main floor laundry at this price point. Main floor features newer flooring in the LR, Master BR, and kitchen. In 2011’ the home was down to the studs and had a new roof, furnace, electric, plumbing, and floor plan. New paint in Living room. Large eat-in kitchen. Oak cabinets in kitchen and updated counters. Covered front porch/mud room with new paint. Large LR with lots of windows to maximize natural light. 1st floor Master BR has attached bath w/ toilet, vanity, pedestal sink, mirror cabinet, and shower surround. Upstairs you will enjoy two additional BR's and an updated full bath. Basement is clean & dry. There is a pad for a

Key facts

• New furnace
• Newer flooring
• Main floor laundry

Tags

• MAIN FLOOR MASTER BEDROOM
• MAIN FLOOR LAUNDRY
• NEWER FLOORING
• NEW ROOF
• NEW FURNACE
• NEW ELECTRIC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Cedar River Academy At Taylor (math 22% / reading 27%, grade F, #613 of 616 statewide, top 100%, 296 students, 78% FRL); Roosevelt Creative Corridor Business Academy (math 36% / reading 47%, grade F, #235 of 246 statewide, top 96%, 510 students, 69% FRL); Thomas Jefferson High School (math 41% / reading 62%, grade D+, #307 of 336 statewide, top 91%, 1,543 students, 56% FRL) — zoned schools average 68% FRL vs 43% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 54% district-wide (-15 pts) — the specific schools serving this property underperform the Cedar Rapids Community School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.8%/yr); 419 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $888 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $75k; list at $128k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,645 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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: 1.10% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $116,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
452 8th Ave SW	0.32mi	3/1.0	975 (-3%)	1mo	$82,950	$85	76
716 9th St St	0.26mi	2/1.0 (-1)	972 (-3%)	2mo	$153,500	$158	72
1221 A Ave	0.43mi	2/1.0 (-1)	972 (-3%)	0mo	$19,000	$20	66
810 3rd Ave SW	0.08mi	2/1.0 (-1)	1,118 (+12%)	6mo	$75,000	$67	63
517 2nd St SW	0.45mi	2/1.0 (-1)	1,052 (+5%)	5mo	$155,000	$147	57
804 SW N St	0.45mi	2/1.5 (-1)	1,095 (+9%)	1mo	$42,250	$39	56
816 9th St NW	0.62mi	2/2.0 (-1)	1,099 (+10%)	3mo	$169,900	$155	47
807 N St SW	0.47mi	3/1.5	1,142 (+14%)	7mo	$132,000	$116	47
927 G Ave Ave NW	0.59mi	3/1.0	1,134 (+13%)	1mo	$189,000	$167	46
1218 B Ave NW	0.50mi	4/1.0 (+1)	1,150 (+15%)	1mo	$80,000	$70	42
717 8th St NW	0.52mi	2/1.0 (-1)	860 (-14%)	7mo	$45,000	$52	37
1426 N St SW	0.70mi	2/1.0 (-1)	864 (-14%)	5mo	$124,250	$144	31

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: 2.7%
• Equity multiple: 1.11×
• Total profit: $3,863
• Equity at exit: $19,160

10-year hold

• IRR: 16.5%
• Equity multiple: 2.66×
• Total profit: $59,556
• Equity at exit: $11,110

Cash invested: $35,980 (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 52404

• Rents YoY: 8.8%
• Active inventory: 419
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$674
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $270

Break-even live

Break-even rent $1,074

Max offer price $128,500

Occupancy floor 76%

Sensitivity live

Price	-10% $343	-5% $307	+0% $270	+5% $234	+10% $197
Rent	-10% $158	-5% $214	+0% $270	+5% $326	+10% $382
Rate	-1.0pp $335	-0.5pp $303	base $270	+0.5pp $237	+1.0pp $203

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: $32,125
• Closing costs: $3,855
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	45d	1	0.38mi
1001 C Ave NW Cedar Rapids, IA	3.0	1.5	1446	$1,500	$1.04	15d	1	0.40mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	15d	6	1.46mi

Listing history 11 events

1. 2026-04-27
   status Pending
2. 2026-04-09
   price $128,500
3. 2026-02-26
   listed $129,500 Active
4. 2023-09-05
   historical
5. 2023-09-03
   listed
6. 2023-08-30
   historical
7. 2023-08-10
   listed
8. 2016-09-01
   soldstatus $75,000
9. 2014-10-21
   listed $74,490
10. 2013-01-29
    soldstatus $75,000
11. 2013-01-29
    soldstatus $75,000

ⓘ 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: $1,448 · $121/mo
• Projected year-2 tax: $1,733 · $144/mo
• Expected delta: +$285/yr (+$24/mo · 19.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 12% 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,986
• − Mortgage interest: −$7,198
• − Property taxes: −$1,448
• − Insurance: −$642
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$3,738
• Taxable income: $1,242
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $2,944/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): 42,958
• Household income: $61,870
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1041.0

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 (74%)
• Race & ethnicity: White 74% Black 10% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -154.96%
• Current HPI: 241.81
• Rent YoY: ▲ 8.79%
• 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

+71.3% since first listed

11 events — show timeline

• 2026-04-27 Pending — CRAAR, CDRMLS
• 2026-04-09 Price Changed $128,500 CRAAR, CDRMLS
• 2026-02-26 Listed $129,500 CRAAR, CDRMLS
• 2023-09-05 Rental Removed — BUILDIUM
• 2023-09-03 Listed for Rent — BUILDIUM
• 2023-08-30 Rental Removed — BUILDIUM
• 2023-08-10 Listed for Rent — BUILDIUM
• 2016-09-01 Sold (Public Records) $75,000 Public Records
• 2014-10-21 Listed $74,490 CRAAR, CDRMLS
• 2013-01-29 Sold (Public Records) $75,000 Public Records
• 2013-01-29 Sold (Public Records) $75,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,448 · +19.5% YoY. Source: county tax records.