3490 Willowridge Rd Unit D · Marion, IA 52302

$133,400

2 bd · 2.0 ba · 1,316 sqft · Condo public records · 722 Days on market

Built 1989 $101/sqft · 19% below area Est $164k · 19% under $273/mo HOA · 19% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.6/30.0
• Schools +6.6/10.0
• 1% rule +5.8/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

Key facts

• $273 HOA
• Garage
• Built 1989

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $133k.

Deal economics

• At list price, monthly cash flow is $-67 ($-804/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (8.9% below list).
• Meets the 1% rule at list price ($1k rent vs $133k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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: crime A+, cost of living A+, housing 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.
• Zoned schools: Linn-Mar High School (math 73% / reading 78%, grade A-, #79 of 336 statewide, top 25%, 2,271 students, 23% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 457 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $922 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.

Negotiation context

• It's been on market 722 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $29k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $117,392 (12.0% 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. It's been on market 722 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• GRM: 7.7

CMA / ARV

• ARV (median comp): $164,112
• List price: $133,400
• Delta: -18.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.6%
• Equity multiple: 0.52×
• Total profit: $-18,083
• Equity at exit: $19,890

10-year hold

• IRR: 4.1%
• Equity multiple: 1.38×
• Total profit: $14,166
• Equity at exit: $11,534

Cash invested: $37,352 (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: 457
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$700
• Tax from tax record: −$176 /mo · $2,108/yr
• Insurance: −$56
• HOA: −$273
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-67

Break-even live

Break-even rent $1,524

Max offer price $121,568

Occupancy floor 100%

Sensitivity live

Price	-10% $9	-5% $-29	+0% $-67	+5% $-105	+10% $-142
Rent	-10% $-181	-5% $-124	+0% $-67	+5% $-10	+10% $47
Rate	-1.0pp $0	-0.5pp $-33	base $-67	+0.5pp $-102	+1.0pp $-137

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: $33,350
• Closing costs: $4,002
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 35th St Marion, IA	2.0	1.0–2.0	896	$1,224	$1.37	15d	1	0.56mi
2899 5th Ave Unit 2 Marion, IA	2.0	1.0	900	$1,200	$1.33	15d	1	0.71mi
3040 3rd Ave Marion, IA	3.0	2.0	1500	$1,450	$0.97	22d	1	0.73mi
1975 49th St Marion, IA	3.0	2.0	1449	$2,175	$1.50	15d	1	0.91mi
6156 Carlson Way Marion, IA	1.0–3.0	1.0–2.0	882	$1,550	$1.76	15d	5	1.49mi

HOA detail condo

• Monthly dues: $273 · $3,276/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-05-18
   status Pending 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

2. 2026-04-08
   price $133,400 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

3. 2025-11-18
   status Active 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

4. 2025-10-17
   status Pending 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

5. 2025-10-14
   status Active 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

6. 2025-10-01
   historical 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

7. 2025-09-17
   price $135,000 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

8. 2025-07-02
   price $139,000 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

9. 2025-04-02
   price $149,000 706-char remark

   Show marketing remark (706 chars)

   Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

10. 2024-10-21
    status Active 706-char remark

    Show marketing remark (706 chars)

    Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

11. 2024-10-01
    historical 706-char remark

    Show marketing remark (706 chars)

    Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

12. 2024-09-19
    price $151,500 706-char remark

    Show marketing remark (706 chars)

    Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

13. 2024-06-13
    price $159,500 706-char remark

    Show marketing remark (706 chars)

    Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

14. 2024-03-22
    listed $162,000 Active 706-char remark

    Show marketing remark (706 chars)

    Super clean condo with a single stall 1st floor garage attached and vaulted ceilings. Master has an on-suite bathroom with a walk-in shower and extra-large walk in closet. New washer, dryer and water heater is in the unit and there is also a locked utility closet in the hallway for your holiday decorations. This is and end unit with beautiful green space and walking distance to Hy-Vee, parks and walking trails. All but 2 windows are new in the unit with a warrantee. Custom built-ins in the 2nd bedroom make it easy to convert to an office. No pets or rentals allowed. Please go to www. marionwillowridgecondo.com to see a welcome letter and reference guide along with all other association documents.

15. 2014-11-07
    soldstatus $90,000
16. 2014-11-06
    soldstatus $90,000 289-char remark

    Show marketing remark (289 chars)

    Exceptional 2nd floor unit with vaulted ceilings and fans. Clean, updated and move-in ready. Porcelain tile in 4-seasons porch, Pergo flooring through-out. All appliances stay, not warranted. Lots of storage with this condo just a few steps down the hall, plus built-in shelving in garage.

17. 2014-04-14
    listed $96,750 289-char remark

    Show marketing remark (289 chars)

    Exceptional 2nd floor unit with vaulted ceilings and fans. Clean, updated and move-in ready. Porcelain tile in 4-seasons porch, Pergo flooring through-out. All appliances stay, not warranted. Lots of storage with this condo just a few steps down the hall, plus built-in shelving in garage.

18. 2010-10-04
    soldstatus $103,000
19. 2010-10-04
    soldstatus $103,000
20. 2001-08-02
    soldstatus $94,000

ⓘ 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: $2,108 · $176/mo
• Projected year-2 tax: $2,108 · $176/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $17,268
• − Mortgage interest: −$7,472
• − Property taxes: −$2,108
• − Insurance: −$667
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − HOA: −$3,276
• − Depreciation: −$3,881
• Taxable loss: −$2,899
• Est. tax savings @ 24.0%: +$696
• After-tax cash flow: $-108/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: 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

+41.9% since first listed

20 events — show timeline

• 2026-05-18 Pending — CRAAR, CDRMLS
• 2026-04-08 Price Changed $133,400 CRAAR, CDRMLS
• 2025-11-18 Relisted — CRAAR, CDRMLS
• 2025-10-17 Pending — CRAAR, CDRMLS
• 2025-10-14 Relisted — CRAAR, CDRMLS
• 2025-10-01 Delisted — CRAAR, CDRMLS
• 2025-09-17 Price Changed $135,000 CRAAR, CDRMLS
• 2025-07-02 Price Changed $139,000 CRAAR, CDRMLS
• 2025-04-02 Price Changed $149,000 CRAAR, CDRMLS
• 2024-10-21 Relisted — CRAAR, CDRMLS
• 2024-10-01 Delisted — CRAAR, CDRMLS
• 2024-09-19 Price Changed $151,500 CRAAR, CDRMLS
• 2024-06-13 Price Changed $159,500 CRAAR, CDRMLS
• 2024-03-22 Listed $162,000 CRAAR, CDRMLS
• 2014-11-07 Sold (Public Records) $90,000 Public Records
• 2014-11-06 Sold (MLS) $90,000 CRAAR, CDRMLS
• 2014-04-14 Listed $96,750 CRAAR, CDRMLS
• 2010-10-04 Sold (Public Records) $103,000 Public Records
• 2010-10-04 Sold (Public Records) $103,000 Public Records
• 2001-08-02 Sold (Public Records) $94,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $2,108 · -3.1% YoY. Source: county tax records.