216 17th St NE · Cedar Rapids, IA 52402

$210,000

5 bd · 2.0 ba · 2,434 sqft · SingleFamily public records · 11 Days on market

Built 1902 6,970 sqft lot $86/sqft · 31% above area Est $161k · 31% over

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Why this score? — see what drove the D 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 +16.7/30.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 2.5+ story home featuring over 2000 square feet, 6 bedrooms, 2 bathrooms, and a 2 car garage! Recent updates include (2011) a new roof on the house and garage, all new flooring and paint, tankless water heat, electrical panel, (2013) central air, and majority of windows replaced. The kitchen has all new hardware, fixtures, counters, and all new appliances. The bathrooms also have all new hardware, fixtures, counters, and tile shower surrounds. The basement is clean and dry with potential to be finished off, and nice laundry area that includes a washer and dryer. Home also has maintenance free siding, a fenced in yard, and additional off street parking. This is a must see in this price range!

Key facts

• Central hvac
• Ethernet wiring
• 6,970 sq ft lot

Tags

• FINISHED LIVING SPACE
• UPGRADED SUMP PUMP SYSTEM
• TANKLESS WATER HEATER
• UPDATED PEX WATER LINES
• ETHERNET WIRING
• CENTRAL HVAC

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Off-street parking; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Two levels; Residential property
• Construction: Aluminum siding; Frame construction
• Exterior features: Deck; Patio

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Disposal; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Window and wall air conditioning units
• Interior features: Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $193k (8.1% below list).
• Recommended offer: $193k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Grant Wood Elementary School (math 47% / reading 52%, grade D, #514 of 616 statewide, top 85%, 361 students, 64% FRL); Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); George Washington High School (math 44% / reading 62%, grade C-, #296 of 336 statewide, top 88%, 1,291 students, 49% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 286 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 32% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $115k; list at $210k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,072 (8.1% below list)

Questions for the listing agent

1. Built in 1902 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (median comp): $160,707
• List price: $210,000
• Delta: 30.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1720 2nd Ave Ave SE	0.20mi	5/2.0	2,340 (-4%)	2mo	$250,000	$107	83
1727 B Ave NE	0.05mi	5/2.5	2,117 (-13%)	1mo	$225,000	$106	73
1408 B Ave NE	0.34mi	4/2.0 (-1)	2,491 (+2%)	11mo	$56,000	$22	66
1971 B Ave NE	0.47mi	5/2.0	2,341 (-4%)	9mo	$153,500	$66	64
8907 Zeppelin Ave NE	0.05mi	4/3.0 (-1)	2,191 (-10%)	11mo	$455,529	$208	63
1112 Elmhurst Dr NE	0.59mi	5/1.5	2,464 (+1%)	10mo	$160,000	$65	60
1838 Blake Blvd SE	0.40mi	4/1.5 (-1)	2,330 (-4%)	11mo	$150,000	$64	58
225 Crescent St SE	0.43mi	4/2.5 (-1)	2,688 (+10%)	4mo	$385,000	$143	53
1522 6th Ave SE	0.69mi	5/2.0	2,268 (-7%)	6mo	$125,000	$55	52
1920 Blake Blvd Blvd SE	0.46mi	4/2.5 (-1)	2,642 (+8%)	15mo	$320,000	$121	45
1554 4th Ave SE	0.56mi	6/2.5 (+1)	2,152 (-12%)	9mo	$99,000	$46	40
2020 Grande Ave SE	0.60mi	4/2.5 (-1)	2,155 (-12%)	7mo	$294,950	$137	40

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: -6.8%
• Equity multiple: 0.74×
• Total profit: $-15,551
• Equity at exit: $31,312

10-year hold

• IRR: 8.0%
• Equity multiple: 1.74×
• Total profit: $43,539
• Equity at exit: $18,157

Cash invested: $58,800 (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 52402

• Rents YoY: 11.0%
• Active inventory: 286
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,931 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$206 /mo · $2,478/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $130

Break-even live

Break-even rent $1,766

Max offer price $210,000

Occupancy floor 88%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   statusdays on market $210,000 Pending 11 DOM
2. 2026-06-05
   days on market $210,000 Active 10 DOM
3. 2026-06-03
   days on market $210,000 Active 9 DOM
4. 2026-06-02
   days on market $210,000 Active 8 DOM
5. 2026-06-01
   days on market $210,000 Active 7 DOM
6. 2026-06-01
   status $210,000 Active 6 DOM
7. 2026-05-13
   listed $210,000 Active 1644-char remark
8. 2014-05-06
   soldstatus $115,000 707-char remark

   Show marketing remark (707 chars)

   Large 2.5+ story home featuring over 2000 square feet, 6 bedrooms, 2 bathrooms, and a 2 car garage! Recent updates include (2011) a new roof on the house and garage, all new flooring and paint, tankless water heat, electrical panel, (2013) central air, and majority of windows replaced. The kitchen has all new hardware, fixtures, counters, and all new appliances. The bathrooms also have all new hardware, fixtures, counters, and tile shower surrounds. The basement is clean and dry with potential to be finished off, and nice laundry area that includes a washer and dryer. Home also has maintenance free siding, a fenced in yard, and additional off street parking. This is a must see in this price range!

9. 2014-02-17
   listed $119,900 707-char remark

   Show marketing remark (707 chars)

   Large 2.5+ story home featuring over 2000 square feet, 6 bedrooms, 2 bathrooms, and a 2 car garage! Recent updates include (2011) a new roof on the house and garage, all new flooring and paint, tankless water heat, electrical panel, (2013) central air, and majority of windows replaced. The kitchen has all new hardware, fixtures, counters, and all new appliances. The bathrooms also have all new hardware, fixtures, counters, and tile shower surrounds. The basement is clean and dry with potential to be finished off, and nice laundry area that includes a washer and dryer. Home also has maintenance free siding, a fenced in yard, and additional off street parking. This is a must see in this price range!

ⓘ 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: $2,478 · $206/mo
• Projected year-2 tax: $2,888 · $241/mo
• Expected delta: +$410/yr (+$34/mo · 16.5%)

ⓘ 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: $23,169
• − Mortgage interest: −$11,763
• − Property taxes: −$2,478
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$6,109
• Taxable loss: −$1,939
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $2,025/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): 42,938
• Household income: $73,439
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 971.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 7% Black 6% Asian 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 4% Lithuanian 2% Iranian 2%
• Foreign-born: 8% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -133.31%
• Current HPI: 201.7061
• Rent YoY: ▲ 10.97%
• 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

+75.1% since first listed

6 events — show timeline

• 2026-06-05 Pending — CRAAR, CDRMLS
• 2026-05-31 Relisted — CRAAR, CDRMLS
• 2026-05-20 Pending — CRAAR, CDRMLS
• 2026-05-13 Listed $210,000 CRAAR, CDRMLS
• 2014-05-06 Sold (MLS) $115,000 CRAAR, CDRMLS
• 2014-02-17 Listed $119,900 CRAAR, CDRMLS

Property tax history

+1.4%/yr

Latest (2025): $2,478 · +13.6% YoY. Source: county tax records.