3305 Willowridge Rd · Marion, IA 52302

$192,900

3 bd · 2.0 ba · 1,628 sqft · Other · 14 Days on market

Built 1990 Good condition

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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 +16.5/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• DSCR +5.1/10.0
• Rent growth +4.6/5.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home & acirc; & euro; & rdquo; this is the modern, fully updated condo you & acirc; & euro; & trade; ve been waiting for, featuring impressive 13-foot ceilings that give the entire space an open, loft-like feel. Every detail has been refreshed since 2024: a redesigned kitchen with new cabinetry, countertops, and appliances; new flooring, doors, trim, and lighting throughout; and stylishly remodeled bathrooms. The large master bedroom includes a generous walk-in closet and ensuite bathroom. The home also includes a beautiful, bright four-season room with a cozy gas fireplace. Major mechanicals have been replaced as well, including the furnace, water heater, an

Key facts

• New flooring
• New appliances
• New cabinetry

Tags

• 13-FOOT CEILINGS
• REDESIGNED KITCHEN
• NEW CABINETRY
• NEW COUNTERTOPS
• NEW APPLIANCES
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $193k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $114 ($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 $183k (5.1% below list).
• Recommended offer: $183k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.7% in Marion — 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 84/100 on livability (#19 in IA, #633 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Linn-Mar Community School District (suburban): math 75% / reading 76% proficiency, ranked #44 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.4%/yr); 455 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $54k 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.

Recommended offer $183,118 (5.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.73×
• Total profit: $-14,321
• Equity at exit: $28,762

10-year hold

• IRR: 8.1%
• Equity multiple: 1.76×
• Total profit: $40,999
• Equity at exit: $16,678

Cash invested: $54,012 (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 52302

• Rents YoY: 8.4%
• Active inventory: 455
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$1,012
• Tax est. 1.5%: −$241 /mo · $2,894/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $114

Break-even live

Break-even rent $1,687

Max offer price $192,900

Occupancy floor 89%

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: $48,225
• Closing costs: $5,787
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	21d	1	0.63mi
2799 29th Ave Marion, IA	4.0	2.0	1394	$1,995	$1.43	43d	1	0.83mi
1330 Brockman Ave Marion, IA	4.0	2.0	1590	$2,400	$1.51	13d	1	0.98mi
1975 49th St Marion, IA	3.0	2.0	1449	$2,175	$1.50	13d	1	1.02mi
2785 Ridgeview Way Marion, IA	3.0	1.5	2015	$1,650	$0.82	13d	1	1.49mi

Listing history 12 events

1. 2026-06-19
   days on market $192,900 Active 14 DOM
2. 2026-06-18
   days on market $192,900 Active 13 DOM
3. 2026-06-17
   days on market $192,900 Active 12 DOM
4. 2026-06-16
   days on market $192,900 Active 11 DOM
5. 2026-06-15
   days on market $192,900 Active 10 DOM
6. 2026-06-14
   days on market $192,900 Active 8 DOM
7. 2026-06-13
   days on market $192,900 Active 7 DOM
8. 2026-06-10
   days on market $192,900 Active 5 DOM
9. 2026-06-09
   days on market $192,900 Active 4 DOM
10. 2026-06-08
    days on market $192,900 Active 3 DOM
11. 2026-06-07
    remarks 675-char remark
12. 2026-06-07
    listed $192,900 Active 2 DOM

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

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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,974
• − Mortgage interest: −$10,805
• − Property taxes: −$2,894
• − Insurance: −$964
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$5,612
• Taxable loss: −$1,817
• Est. tax savings @ 24.0%: +$436
• After-tax cash flow: $1,799/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This fully updated condo is in excellent condition with no visible repairs needed. It offers a modern, open floor plan and has been refreshed since 2024, making it a great investment for both resale and rental.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping the front yard — Improves curb appeal and rental value
• Both Updating the flooring in the living room — Enhances the open, loft-like feel and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping the front yard — Improves curb appeal and rental value ↑
• Both Updating the flooring in the living room — Enhances the open, loft-like feel and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Linn-Mar Community School District
• NCES district ID: 1917220
• Math proficiency: 75% ▼ -7.00%
• Reading proficiency: 76% ▼ -5.00%
• Median HH income: $72,473
• Composite: 66.08/100
• National rank: #440
• State rank: #44 of 289 in IA

Livability — Marion

• Score: 84/100
• State rank: #19
• US rank: #633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IA
• County: Linn County · 179,860 people
• City population: 42,706
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,706
• Household income: $87,983
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 940.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -144.98%
• Current HPI: 199.2949
• Rent YoY: ▲ 8.37%
• 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

1 event — show timeline

• 2026-06-06 Listed $192,900 FSBO.com