2933 Dalewood Ave SE · Cedar Rapids, IA 52403

$185,000

4 bd · 1.0 ba · 1,618 sqft · SingleFamily public records · 32 Days on market

Built 1950 Est $228k · 19% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owner is a licensed agent. Former rental for the past 14 yrs, this home has been taken care of. Wood floors in the Living Room and two main bedrooms. Updated bath with vessel sink, tub surround & newer vinyl window. Kitchen has painted cabinets, laminate counter, stainless appliances & new microwave. First floor family room offers a wall of open shelves, newer vinyl windows and breakfast bar. Lower level laundry and the basement has been tiled to a sump pump under the stairs. Quiet street with a manageable yard and one car detached garage. Siding is one year old. Patio in between house and garage. Great first time buyer opportunity or income property. Property being sold As Is.

Key facts

• New carpet
• New flooring
• New water heater

Tags

• NEW CARPET
• NEW FLOORING
• NEW WATER HEATER
• NEW DRYER
• NEW LIGHT FIXTURES
• NEW BATHROOM VANITY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $124 ($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 $175k (5.5% below list).
• Recommended offer: $175k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 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 $145k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,820 (5.5% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 0.94% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.88%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $228,138
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 33rd St SE	0.33mi	3/1.0 (-1)	1,648 (+2%)	1mo	$242,000	$147	76
1010 Norwood Dr SE	0.32mi	3/2.0 (-1)	1,693 (+5%)	1mo	$255,000	$151	67
2861 Seely Ave SE	0.51mi	3/1.0 (-1)	1,649 (+2%)	1mo	$197,000	$119	67
420 30th St SE	0.27mi	3/2.0 (-1)	1,763 (+9%)	1mo	$225,000	$128	62
500 31st St St SE	0.25mi	4/2.0	1,830 (+13%)	1mo	$236,000	$129	62
2604 Mt Vernon Rd Rd SE	0.32mi	3/1.5 (-1)	1,798 (+11%)	2mo	$114,000	$63	58
2400 12th Ave SE	0.52mi	3/1.5 (-1)	1,718 (+6%)	1mo	$197,500	$115	57
645 40th St St SE	0.66mi	3/1.5 (-1)	1,650 (+2%)	2mo	$218,515	$132	57
535 Forest Dr SE	0.47mi	3/1.5 (-1)	1,738 (+7%)	2mo	$265,000	$152	57
1338 Parkwood Dr SE	0.59mi	3/2.0 (-1)	1,546 (-4%)	1mo	$240,000	$155	55
4018 Dalewood Ave SE	0.71mi	3/1.5 (-1)	1,680 (+4%)	0mo	$241,000	$143	53
2226 5th Ave SE	0.63mi	3/2.5 (-1)	1,820 (+12%)	0mo	$256,000	$141	39

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: -6.4%
• Equity multiple: 0.75×
• Total profit: $-12,818
• Equity at exit: $27,584

10-year hold

• IRR: 8.5%
• Equity multiple: 1.79×
• Total profit: $41,125
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,748 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$210 /mo · $2,516/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $124

Break-even live

Break-even rent $1,591

Max offer price $185,000

Occupancy floor 88%

Sensitivity live

Price	-10% $229	-5% $177	+0% $124	+5% $72	+10% $19
Rent	-10% $-14	-5% $55	+0% $124	+5% $193	+10% $262
Rate	-1.0pp $217	-0.5pp $171	base $124	+0.5pp $76	+1.0pp $27

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4037 Vine Ave SE Cedar Rapids, IA	4.0	2.0	1380	$1,700	$1.23	44d	1	0.74mi
730 Wellington St SE Cedar Rapids, IA	3.0	1.0	1366	$1,325	$0.97	22d	1	1.08mi

Listing history 25 events

1. 2026-06-19
   days on market $185,000 Active 32 DOM
2. 2026-06-18
   days on market $185,000 Active 31 DOM
3. 2026-06-17
   days on market $185,000 Active 30 DOM
4. 2026-06-16
   price $185,000 Active 29 DOM
5. 2026-06-16
   days on market $189,000 Active 29 DOM
6. 2026-06-15
   days on market $189,000 Active 28 DOM
7. 2026-06-14
   days on market $189,000 Active 26 DOM
8. 2026-06-13
   days on market $189,000 Active 25 DOM
9. 2026-06-10
   days on market $189,000 Active 23 DOM
10. 2026-06-09
    days on market $189,000 Active 22 DOM
11. 2026-06-08
    days on market $189,000 Active 21 DOM
12. 2026-06-07
    days on market $189,000 Active 20 DOM
13. 2026-06-05
    days on market $189,000 Active 17 DOM
14. 2026-06-03
    days on market $189,000 Active 16 DOM
15. 2026-06-02
    days on market $189,000 Active 15 DOM
16. 2026-06-01
    days on market $189,000 Active 14 DOM
17. 2026-05-31
    days on market $189,000 Active 13 DOM
18. 2026-05-30
    days on market $189,000 Active 12 DOM
19. 2026-05-19
    listed $189,000 Active
20. 2024-10-28
    soldstatus $145,000
21. 2024-10-08
    soldstatus $145,000 Closed 698-char remark

    Show marketing remark (698 chars)

    Owner is a licensed agent. Former rental for the past 14 yrs, this home has been taken care of. Wood floors in the Living Room and two main bedrooms. Updated bath with vessel sink, tub surround & newer vinyl window. Kitchen has painted cabinets, laminate counter, stainless appliances & new microwave. First floor family room offers a wall of open shelves, newer vinyl windows and breakfast bar. Lower level laundry and the basement has been tiled to a sump pump under the stairs. Quiet street with a manageable yard and one car detached garage. Siding is one year old. Patio in between house and garage. Great first time buyer opportunity or income property. Property being sold As Is.

22. 2024-09-29
    status Pending 698-char remark

    Show marketing remark (698 chars)

    Owner is a licensed agent. Former rental for the past 14 yrs, this home has been taken care of. Wood floors in the Living Room and two main bedrooms. Updated bath with vessel sink, tub surround & newer vinyl window. Kitchen has painted cabinets, laminate counter, stainless appliances & new microwave. First floor family room offers a wall of open shelves, newer vinyl windows and breakfast bar. Lower level laundry and the basement has been tiled to a sump pump under the stairs. Quiet street with a manageable yard and one car detached garage. Siding is one year old. Patio in between house and garage. Great first time buyer opportunity or income property. Property being sold As Is.

23. 2024-09-09
    price $147,000 698-char remark

    Show marketing remark (698 chars)

    Owner is a licensed agent. Former rental for the past 14 yrs, this home has been taken care of. Wood floors in the Living Room and two main bedrooms. Updated bath with vessel sink, tub surround & newer vinyl window. Kitchen has painted cabinets, laminate counter, stainless appliances & new microwave. First floor family room offers a wall of open shelves, newer vinyl windows and breakfast bar. Lower level laundry and the basement has been tiled to a sump pump under the stairs. Quiet street with a manageable yard and one car detached garage. Siding is one year old. Patio in between house and garage. Great first time buyer opportunity or income property. Property being sold As Is.

24. 2024-08-23
    listed $149,000 Active 698-char remark

    Show marketing remark (698 chars)

    Owner is a licensed agent. Former rental for the past 14 yrs, this home has been taken care of. Wood floors in the Living Room and two main bedrooms. Updated bath with vessel sink, tub surround & newer vinyl window. Kitchen has painted cabinets, laminate counter, stainless appliances & new microwave. First floor family room offers a wall of open shelves, newer vinyl windows and breakfast bar. Lower level laundry and the basement has been tiled to a sump pump under the stairs. Quiet street with a manageable yard and one car detached garage. Siding is one year old. Patio in between house and garage. Great first time buyer opportunity or income property. Property being sold As Is.

25. 2014-10-01
    listed $110,500

ⓘ 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: $2,516 · $210/mo
• Projected year-2 tax: $2,710 · $226/mo
• Expected delta: +$194/yr (+$16/mo · 7.7%)

ⓘ 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 4/10 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: $20,978
• − Mortgage interest: −$10,363
• − Property taxes: −$2,516
• − Insurance: −$925
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$5,382
• Taxable loss: −$1,564
• Est. tax savings @ 24.0%: +$375
• After-tax cash flow: $1,865/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

+71.0% since first listed

7 events — show timeline

• 2026-05-19 Listed $189,000 FSBO.com
• 2024-10-28 Sold (Public Records) $145,000 Public Records
• 2024-10-08 Sold (MLS) $145,000 CRAAR, CDRMLS
• 2024-09-29 Pending — CRAAR, CDRMLS
• 2024-09-09 Price Changed $147,000 CRAAR, CDRMLS
• 2024-08-23 Listed $149,000 CRAAR, CDRMLS
• 2014-10-01 Listed $110,500 CRAAR, CDRMLS

Property tax history

+1.5%/yr

Latest (2025): $2,516 · +8.7% YoY. Source: county tax records.