1056 H Ave NW · Cedar Rapids, IA 52405

$78,500

3 bd · 1.5 ba · 996 sqft · SingleFamily public records · 13 Days on market

Built 1924 4,792 sqft lot $79/sqft · 44% below area Est $140k · 44% under ↓ 6% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

" Sale Pending" waiting to remove contingencies. Contact listing to show. WELL KEPT, 3 BEDROOMS, 1.5 BATHS & 2 STALLS DETACHED GARAGE. FRESHLY PAINTED THROUGHOUT INCLUDING THE BASEMENT. NEW DECK, NICELY DONE FULL BATHROOM WITH WHIRLPOOL TUB & SKYLIGHT. KITCHEN WITH ALL APPLIANCES. SEPRATE EATING AREA. LARGE FAMILY ROOM. READY TO MOVE IN CONDTION.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1924

Property features AI

Finance

• Other: Property listed by Realty87
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Detached 2-car garage with garage door opener
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Fenced yard; Pets allowed

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Basement: Partial basement
• Bedrooms: Bedrooms not specified
• Flooring: Flooring not specified
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Disposal; Gas water heater; Range hood
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Cap rate 13.8% 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: Harrison Elementary School (math 37% / reading 42%, grade F, #579 of 616 statewide, top 95%, 285 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.
• Market conditions: Rents rising fast (+12.4%/yr); 149 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $543 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $45k; list at $78k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,500

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.78% ✓
• Cap rate: 13.78%
• Cash-on-cash: 26.73%
• DSCR: 2.19
• GRM: 4.7

CMA / ARV

• ARV (median comp): $140,064
• List price: $78,500
• Delta: -43.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1222 8th St NW	0.35mi	3/1.0	1,016 (+2%)	6mo	$70,000	$69	73
1125 J Ave Ave NW	0.08mi	3/1.0	1,140 (+14%)	1mo	$165,000	$145	69
714 East Ave NW	0.38mi	3/1.0	965 (-3%)	7mo	$305,000	$316	69
927 G Ave Ave NW	0.17mi	3/1.0	1,134 (+14%)	1mo	$189,000	$167	66
816 9th St NW	0.19mi	2/2.0 (-1)	1,099 (+10%)	3mo	$169,900	$155	64
1649 B Ave NW	0.57mi	2/1.0 (-1)	986 (-1%)	7mo	$158,000	$160	59
1221 A Ave	0.64mi	2/1.0 (-1)	972 (-2%)	0mo	$19,000	$20	59
1301 11th St NW	0.30mi	3/1.0	864 (-13%)	7mo	$153,000	$177	56
717 8th St NW	0.30mi	2/1.0 (-1)	860 (-14%)	7mo	$45,000	$52	50
217 11th St NW	0.54mi	3/1.0	1,113 (+12%)	8mo	$11,600	$10	46
1620 NW 9th St	0.59mi	2/1.0 (-1)	882 (-11%)	2mo	$171,000	$194	45
1358 Burch Ave NW	0.59mi	2/1.0 (-1)	888 (-11%)	7mo	$145,000	$163	41

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: 26.5%
• Equity multiple: 2.18×
• Total profit: $25,901
• Equity at exit: $11,705

10-year hold

• IRR: 37.2%
• Equity multiple: 5.39×
• Total profit: $96,529
• Equity at exit: $6,787

Cash invested: $21,980 (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 52405

• Rents YoY: 12.4%
• Active inventory: 149
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$412
• Tax from tax record: −$168 /mo · $2,020/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $490

Break-even live

Break-even rent $776

Max offer price $78,500

Occupancy floor 60%

Sensitivity live

Price	-10% $534	-5% $512	+0% $490	+5% $467	+10% $445
Rent	-10% $379	-5% $434	+0% $490	+5% $545	+10% $600
Rate	-1.0pp $529	-0.5pp $510	base $490	+0.5pp $469	+1.0pp $449

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: $19,625
• Closing costs: $2,355
• 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	0.39mi
612 4th Ave SW Unit 612 Upper Cedar Rapids, IA	2.0	1.0	616	$2,000	$3.25	22d	1	0.86mi
1601 30th St NW Unit 1611 6 Cedar Rapids, IA	2.0	1.0	847	$865	$1.02	15d	1	1.24mi

Listing history 6 events

1. 2026-05-11
   status Pending 394-char remark
2. 2026-04-28
   listed $78,500 Active 394-char remark
3. 2017-01-19
   soldstatus $45,000
4. 2017-01-19
   soldstatus $84,500
5. 2017-01-18
   soldstatus $84,500 370-char remark

   Show marketing remark (370 chars)

   " Sale Pending" waiting to remove contingencies. Contact listing to show. WELL KEPT, 3 BEDROOMS, 1.5 BATHS & 2 STALLS DETACHED GARAGE. FRESHLY PAINTED THROUGHOUT INCLUDING THE BASEMENT. NEW DECK, NICELY DONE FULL BATHROOM WITH WHIRLPOOL TUB & SKYLIGHT. KITCHEN WITH ALL APPLIANCES. SEPRATE EATING AREA. LARGE FAMILY ROOM. READY TO MOVE IN CONDTION.

6. 2016-09-19
   listed $83,500 370-char remark

   Show marketing remark (370 chars)

   " Sale Pending" waiting to remove contingencies. Contact listing to show. WELL KEPT, 3 BEDROOMS, 1.5 BATHS & 2 STALLS DETACHED GARAGE. FRESHLY PAINTED THROUGHOUT INCLUDING THE BASEMENT. NEW DECK, NICELY DONE FULL BATHROOM WITH WHIRLPOOL TUB & SKYLIGHT. KITCHEN WITH ALL APPLIANCES. SEPRATE EATING AREA. LARGE FAMILY ROOM. READY TO MOVE IN CONDTION.

ⓘ 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: $2,020 · $168/mo
• Projected year-2 tax: $2,020 · $168/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 ≥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: $16,744
• − Mortgage interest: −$4,397
• − Property taxes: −$2,020
• − Insurance: −$392
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$2,284
• Taxable income: $4,971
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $4,682/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): 26,526
• Household income: $70,123
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 715.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Portuguese 4% Lithuanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 1% 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: ▼ -137.56%
• Current HPI: 201.6053
• Rent YoY: ▲ 12.37%
• 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

-6.0% since first listed

6 events — show timeline

• 2026-05-11 Pending — CRAAR, CDRMLS
• 2026-04-28 Listed $78,500 CRAAR, CDRMLS
• 2017-01-19 Sold (Public Records) $84,500 Public Records
• 2017-01-19 Sold (Public Records) $45,000 Public Records
• 2017-01-18 Sold (MLS) $84,500 CRAAR, CDRMLS
• 2016-09-19 Listed $83,500 CRAAR, CDRMLS

Property tax history

+3.5%/yr

Latest (2025): $2,020 · +9.5% YoY. Source: county tax records.