456 Mayberry Dr NW · Cedar Rapids, IA 52405

$196,000

3 bd · 2.0 ba · 1,649 sqft · SingleFamily public records · 95 Days on market

Built 1960 10,200 sqft lot $119/sqft · at area comps Est $206k · at est.

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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 +9.7/30.0
• ARV discount +9.7/15.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price reduced !Move-in ready in Cherry Hill neighborhood. Welcome to 456 Mayberry Dr NW in desirable Cherry Hill area of Cedar Rapids. This well maintained 3 bedroom, 1 1/12 bath home offers plenty of natural lighting throughout, creating a inviting atmosphere. The updated kitchen features remodeled cabinetry and flooring, while the freshly painted lower level provides additional living space and generous storage . The walkout basement adds fuctionality and convenience. Step outside to enjoy the fully fenced in backyard, off street parking, and a location in super nice established neighborhood near Morgan Creek Park, youll love the acess to outdoor recreation while still being close to town amenities. Price has been reduced, dont miss this opportunity!

Key facts

• Updated windows
• Large fenced yard
• Updated water heater

Tags

• UPDATED ROOF
• UPDATED WINDOWS
• UPDATED WATER HEATER
• LOWER LEVEL FAMILY ROOM
• WALK OUT BASEMENT
• LARGE FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (19.8% below list).
• Recommended offer: $157k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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 (+12.4%/yr); 145 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.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $157,272 (19.8% 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 95 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.80% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.80%
• DSCR: 0.88
• GRM: 10.4

CMA / ARV

• ARV (median comp): $206,222
• List price: $196,000
• Delta: -4.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5730 D Ave NW	0.05mi	2/1.5 (-1)	1,577 (-4%)	4mo	$260,000	$165	80
441 Day St NW	0.18mi	3/2.0	1,450 (-12%)	2mo	$215,000	$148	70
332 Carter St NW	0.23mi	3/1.5	1,509 (-8%)	3mo	$192,000	$127	70
159 Crestridge Dr NW	0.35mi	4/2.0 (+1)	1,733 (+5%)	1mo	$220,000	$127	70
5517 D Ave NW	0.14mi	3/1.0	1,433 (-13%)	2mo	$198,000	$138	66
142 Harbet Ave NW	0.72mi	3/2.0	1,654 (+0%)	0mo	$260,000	$157	66
5759 1st Ave SW	0.55mi	4/2.5 (+1)	1,754 (+6%)	1mo	$258,650	$147	56
408 Jacolyn Dr NW	0.48mi	3/1.5	1,480 (-10%)	4mo	$207,000	$140	56
5434 Gordon Ave NW	0.44mi	3/1.0	1,410 (-14%)	1mo	$219,000	$155	51
6008 Eastview Ave SW	0.60mi	4/2.0 (+1)	1,504 (-9%)	3mo	$238,500	$159	50
509 Bezdek Dr NW	0.73mi	3/2.5	1,824 (+11%)	1mo	$294,000	$161	45
6235 Eastview Ave Ave SW	0.71mi	4/1.5 (+1)	1,488 (-10%)	3mo	$219,000	$147	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: -15.5%
• Equity multiple: 0.42×
• Total profit: $-31,582
• Equity at exit: $29,224

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-52
• Equity at exit: $16,946

Cash invested: $54,880 (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: 145
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$261 /mo · $3,134/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-128

Break-even live

Break-even rent $1,735

Max offer price $173,348

Occupancy floor —

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5006 Spencer Dr SW Cedar Rapids, IA	3.0	2.5	1498	$1,700	$1.13	13d	1	0.80mi
1834 Gretchen Dr SW Cedar Rapids, IA	3.0	2.0	1568	$1,589	$1.01	13d	1	1.18mi

Listing history 8 events

1. 2026-03-07
   price $196,000 765-char remark

   Show marketing remark (765 chars)

   Price reduced !Move-in ready in Cherry Hill neighborhood. Welcome to 456 Mayberry Dr NW in desirable Cherry Hill area of Cedar Rapids. This well maintained 3 bedroom, 1 1/12 bath home offers plenty of natural lighting throughout, creating a inviting atmosphere. The updated kitchen features remodeled cabinetry and flooring, while the freshly painted lower level provides additional living space and generous storage . The walkout basement adds fuctionality and convenience. Step outside to enjoy the fully fenced in backyard, off street parking, and a location in super nice established neighborhood near Morgan Creek Park, youll love the acess to outdoor recreation while still being close to town amenities. Price has been reduced, dont miss this opportunity!

2. 2026-02-20
   price $199,100 765-char remark

   Show marketing remark (765 chars)

   Price reduced !Move-in ready in Cherry Hill neighborhood. Welcome to 456 Mayberry Dr NW in desirable Cherry Hill area of Cedar Rapids. This well maintained 3 bedroom, 1 1/12 bath home offers plenty of natural lighting throughout, creating a inviting atmosphere. The updated kitchen features remodeled cabinetry and flooring, while the freshly painted lower level provides additional living space and generous storage . The walkout basement adds fuctionality and convenience. Step outside to enjoy the fully fenced in backyard, off street parking, and a location in super nice established neighborhood near Morgan Creek Park, youll love the acess to outdoor recreation while still being close to town amenities. Price has been reduced, dont miss this opportunity!

3. 2026-02-17
   listed $200,000 Active 765-char remark

   Show marketing remark (765 chars)

   Price reduced !Move-in ready in Cherry Hill neighborhood. Welcome to 456 Mayberry Dr NW in desirable Cherry Hill area of Cedar Rapids. This well maintained 3 bedroom, 1 1/12 bath home offers plenty of natural lighting throughout, creating a inviting atmosphere. The updated kitchen features remodeled cabinetry and flooring, while the freshly painted lower level provides additional living space and generous storage . The walkout basement adds fuctionality and convenience. Step outside to enjoy the fully fenced in backyard, off street parking, and a location in super nice established neighborhood near Morgan Creek Park, youll love the acess to outdoor recreation while still being close to town amenities. Price has been reduced, dont miss this opportunity!

4. 2022-10-19
   soldstatus $175,000
5. 2022-10-18
   soldstatus $175,000 Closed 609-char remark

   Show marketing remark (609 chars)

   Great location in a quiet neighborhood with convenient access to Hwy 100 and close proximity to Cherry Hill Park, Taft Middle School, shopping, and restaurants. This move-in ready, 3 bedroom/ 2 bath, home has been nicely maintained with Hardwood floors on the main level and a walkout lower level to a spacious, fenced backyard with a a storage shed. Updated features include new interior doors, fresh paint, new flooring in the lower level and kitchen, new roof, new waterheater, new refrigerator, and updated bathrooms. The lower level finished sq footage is approximate and should be verified by the buyer.

6. 2022-09-06
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Great location in a quiet neighborhood with convenient access to Hwy 100 and close proximity to Cherry Hill Park, Taft Middle School, shopping, and restaurants. This move-in ready, 3 bedroom/ 2 bath, home has been nicely maintained with Hardwood floors on the main level and a walkout lower level to a spacious, fenced backyard with a a storage shed. Updated features include new interior doors, fresh paint, new flooring in the lower level and kitchen, new roof, new waterheater, new refrigerator, and updated bathrooms. The lower level finished sq footage is approximate and should be verified by the buyer.

7. 2022-08-22
   price $169,950 609-char remark

   Show marketing remark (609 chars)

   Great location in a quiet neighborhood with convenient access to Hwy 100 and close proximity to Cherry Hill Park, Taft Middle School, shopping, and restaurants. This move-in ready, 3 bedroom/ 2 bath, home has been nicely maintained with Hardwood floors on the main level and a walkout lower level to a spacious, fenced backyard with a a storage shed. Updated features include new interior doors, fresh paint, new flooring in the lower level and kitchen, new roof, new waterheater, new refrigerator, and updated bathrooms. The lower level finished sq footage is approximate and should be verified by the buyer.

8. 2022-07-24
   listed $174,950 Active 609-char remark

   Show marketing remark (609 chars)

   Great location in a quiet neighborhood with convenient access to Hwy 100 and close proximity to Cherry Hill Park, Taft Middle School, shopping, and restaurants. This move-in ready, 3 bedroom/ 2 bath, home has been nicely maintained with Hardwood floors on the main level and a walkout lower level to a spacious, fenced backyard with a a storage shed. Updated features include new interior doors, fresh paint, new flooring in the lower level and kitchen, new roof, new waterheater, new refrigerator, and updated bathrooms. The lower level finished sq footage is approximate and should be verified by the buyer.

ⓘ 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: $3,134 · $261/mo
• Projected year-2 tax: $3,134 · $261/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 2/10 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: $18,873
• − Mortgage interest: −$10,979
• − Property taxes: −$3,134
• − Insurance: −$980
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$5,702
• Taxable loss: −$4,942
• Est. tax savings @ 24.0%: +$1,186
• After-tax cash flow: $-353/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

+12.0% since first listed

8 events — show timeline

• 2026-03-07 Price Changed $196,000 CRAAR, CDRMLS
• 2026-02-20 Price Changed $199,100 CRAAR, CDRMLS
• 2026-02-17 Listed $200,000 CRAAR, CDRMLS
• 2022-10-19 Sold (Public Records) $175,000 Public Records
• 2022-10-18 Sold (MLS) $175,000 CRAAR, CDRMLS
• 2022-09-06 Pending — CRAAR, CDRMLS
• 2022-08-22 Price Changed $169,950 CRAAR, CDRMLS
• 2022-07-24 Listed $174,950 CRAAR, CDRMLS

Property tax history

+2.4%/yr

Latest (2025): $3,134 · +8.6% YoY. Source: county tax records.