1021 9th St SE · Cedar Rapids, IA 52403

$110,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 3 Days on market

Built 1900 4,356 sqft lot Est $106k · at est.

---

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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +6.8/10.0
• ARV discount +6.0/15.0
• 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

Listing Agent is a member of the LLC.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 9.3% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1900 — 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: 1.18% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $106,400
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1032 9th St SE	0.03mi	1/1.0 (-1)	740 (-8%)	8mo	$112,500	$152	74
813 18th St SE	0.52mi	2/1.0	816 (+2%)	0mo	$148,550	$182	72
1020 9th St SE	0.03mi	2/1.0	708 (-12%)	14mo	$80,000	$113	68
912 10th St SE	0.14mi	3/1.0 (+1)	915 (+14%)	8mo	$142,500	$156	58
1915 Higley Ave SE	0.59mi	2/1.0	748 (-6%)	10mo	$110,000	$147	53
1547 8th Avenue Ave SE	0.37mi	2/1.0	690 (-14%)	14mo	$60,000	$87	48
617 19th St St SE	0.64mi	2/1.0	720 (-10%)	8mo	$48,500	$67	47
1808 6th Ave Ave SE	0.64mi	2/1.0	720 (-10%)	9mo	$120,000	$167	46
1041 19th St St SE	0.54mi	2/1.0	912 (+14%)	7mo	$75,000	$82	46
1806 5th Ave SE	0.69mi	2/1.0	866 (+8%)	17mo	$115,000	$133	40
510 16th St SE	0.56mi	2/1.0	908 (+14%)	18mo	$94,000	$104	36

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: 5.2%
• Equity multiple: 1.21×
• Total profit: $6,582
• Equity at exit: $16,401

10-year hold

• IRR: 18.8%
• Equity multiple: 2.93×
• Total profit: $59,543
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,296 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$126 /mo · $1,506/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $275

Break-even live

Break-even rent $947

Max offer price $110,000

Occupancy floor 74%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	0.14mi
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	44d	1	0.55mi
400 2nd St SW Cedar Rapids, IA	1.0	1.0	615	$1,195	$1.94	21d	1	1.02mi
612 4th Ave SW Unit 612 Upper Cedar Rapids, IA	2.0	1.0	616	$2,000	$3.25	21d	1	1.33mi

Listing history 12 events

1. 2023-10-27
   soldstatus $105,000 Closed 37-char remark

   Show marketing remark (37 chars)

   Listing Agent is a member of the LLC.

2. 2023-10-27
   soldstatus $105,000

   Show marketing remark (37 chars)

   Listing Agent is a member of the LLC.

3. 2023-09-10
   status Pending
4. 2023-09-09
   status Pending 37-char remark

   Show marketing remark (37 chars)

   Listing Agent is a member of the LLC.

5. 2023-09-06
   listed $110,000 Active 37-char remark

   Show marketing remark (37 chars)

   Listing Agent is a member of the LLC.

6. 2023-09-06
   listed $110,000 Active

   Show marketing remark (37 chars)

   Listing Agent is a member of the LLC.

7. 2021-11-10
   soldstatus $55,000
8. 2021-11-08
   soldstatus $55,000
9. 2021-07-15
   listed $60,000
10. 2014-10-31
    soldstatus $42,000
11. 2014-07-17
    listed $42,900
12. 2014-01-06
    listed $49,900

ⓘ 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: $1,506 · $126/mo
• Projected year-2 tax: $1,616 · $135/mo
• Expected delta: +$110/yr (+$9/mo · 7.3%)

ⓘ 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 ≥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: $15,550
• − Mortgage interest: −$6,162
• − Property taxes: −$1,506
• − Insurance: −$550
• − Repairs & maintenance: −$1,244
• − Management: −$1,244
• − Depreciation: −$3,200
• Taxable income: $1,644
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $2,911/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

+110.4% since first listed

12 events — show timeline

• 2023-10-27 Sold (Public Records) $105,000 Public Records
• 2023-10-27 Sold (MLS) $105,000 CRAAR, CDRMLS
• 2023-09-10 Pending — DMMLS
• 2023-09-09 Pending — CRAAR, CDRMLS
• 2023-09-06 Listed $110,000 DMMLS
• 2023-09-06 Listed $110,000 CRAAR, CDRMLS
• 2021-11-10 Sold (Public Records) $55,000 Public Records
• 2021-11-08 Sold (MLS) $55,000 CRAAR, CDRMLS
• 2021-07-15 Listed $60,000 CRAAR, CDRMLS
• 2014-10-31 Sold (MLS) $42,000 CRAAR, CDRMLS
• 2014-07-17 Listed $42,900 CRAAR, CDRMLS
• 2014-01-06 Listed $49,900 CRAAR, CDRMLS

Property tax history

+3.3%/yr

Latest (2025): $1,506 · +14.8% YoY. Source: county tax records.