116 6th Ave SW · Cedar Rapids, IA 52404

$85,000

2 bd · 1.0 ba · 998 sqft · SingleFamily public records · 247 Days on market

Built 1895 1,786 sqft lot $85/sqft · 28% below area Est $119k · 28% under

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in an up-and-coming area. Close to the new casino, Big Grove Brewery. Great opportunity to get into this home at a very reasonable price. Home is being sold as is.

Key facts

• 1,786 sq ft lot
• Built 1895
• Listed 247 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 (+8.8%/yr); 419 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $41k; list at $85k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.39% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.44%
• DSCR: 1.82
• GRM: 6.0

CMA / ARV

• ARV (median comp): $118,587
• List price: $85,000
• Delta: -28.32%
• 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
517 2nd St SW	0.03mi	2/1.0	1,052 (+5%)	5mo	$155,000	$147	85
452 8th Ave SW	0.37mi	3/1.0 (+1)	975 (-2%)	1mo	$82,950	$85	74
804 SW N St	0.29mi	2/1.5	1,095 (+10%)	1mo	$42,250	$39	67
716 9th St St	0.58mi	2/1.0	972 (-3%)	2mo	$153,500	$158	67
915 8th St St SW	0.55mi	2/1.0	1,040 (+4%)	8mo	$133,500	$128	61
280 14th Ave Ave SW	0.53mi	3/1.0 (+1)	950 (-5%)	6mo	$101,500	$107	57
1516 1st St SW	0.69mi	3/1.0 (+1)	992 (-1%)	8mo	$110,000	$111	56
810 3rd Ave SW	0.53mi	2/1.0	1,118 (+12%)	6mo	$75,000	$67	50
807 N St SW	0.29mi	3/1.5 (+1)	1,142 (+14%)	7mo	$132,000	$116	50
911 8th St St SW	0.55mi	2/1.0	887 (-11%)	8mo	$55,000	$62	49
179 15th Ave SW	0.65mi	2/1.5	1,122 (+12%)	1mo	$129,000	$115	46
1426 N St SW	0.58mi	2/1.0	864 (-13%)	5mo	$124,250	$144	46

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: 15.6%
• Equity multiple: 1.66×
• Total profit: $15,792
• Equity at exit: $12,674

10-year hold

• IRR: 27.6%
• Equity multiple: 4.04×
• Total profit: $72,277
• Equity at exit: $7,349

Cash invested: $23,800 (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 52404

• Rents YoY: 8.8%
• Active inventory: 419
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$446
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $366

Break-even live

Break-even rent $722

Max offer price $85,000

Occupancy floor 64%

Sensitivity live

Price	-10% $414	-5% $390	+0% $366	+5% $342	+10% $318
Rent	-10% $272	-5% $319	+0% $366	+5% $413	+10% $459
Rate	-1.0pp $409	-0.5pp $387	base $366	+0.5pp $344	+1.0pp $321

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 2nd St SW Cedar Rapids, IA	1.0	1.0	615	$1,195	$1.94	22d	1	0.11mi
612 4th Ave SW Unit 612 Upper Cedar Rapids, IA	2.0	1.0	616	$2,000	$3.25	22d	1	0.38mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	44d	1	0.75mi
640 16th Ave SW Cedar Rapids, IA	1.0	1.0	595	$850	$1.43	44d	2	0.79mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	14d	6	1.02mi
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	44d	1	1.49mi

Listing history 5 events

1. 2026-05-17
   status Pending 192-char remark

   Show marketing remark (192 chars)

   Great investment opportunity in an up-and-coming area. Close to the new casino, Big Grove Brewery. Great opportunity to get into this home at a very reasonable price. Home is being sold as is.

2. 2026-01-18
   status Active 192-char remark

   Show marketing remark (192 chars)

   Great investment opportunity in an up-and-coming area. Close to the new casino, Big Grove Brewery. Great opportunity to get into this home at a very reasonable price. Home is being sold as is.

3. 2026-01-01
   historical 192-char remark

   Show marketing remark (192 chars)

   Great investment opportunity in an up-and-coming area. Close to the new casino, Big Grove Brewery. Great opportunity to get into this home at a very reasonable price. Home is being sold as is.

4. 2025-08-26
   listed $85,000 Active 192-char remark

   Show marketing remark (192 chars)

   Great investment opportunity in an up-and-coming area. Close to the new casino, Big Grove Brewery. Great opportunity to get into this home at a very reasonable price. Home is being sold as is.

5. 2009-01-19
   soldstatus $41,000

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,201 · $100/mo
• Expected delta: +$133/yr (+$11/mo · 12.5%)

ⓘ 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 ≥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: $14,217
• − Mortgage interest: −$4,761
• − Property taxes: −$1,068
• − Insurance: −$425
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$2,473
• Taxable income: $3,215
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $3,618/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): 42,958
• Household income: $61,870
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1041.0

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 (74%)
• Race & ethnicity: White 74% Black 10% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 2% 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: ▼ -154.96%
• Current HPI: 241.81
• Rent YoY: ▲ 8.79%
• 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

+107.3% since first listed

5 events — show timeline

• 2026-05-17 Pending — CRAAR, CDRMLS
• 2026-01-18 Relisted — CRAAR, CDRMLS
• 2026-01-01 Delisted — CRAAR, CDRMLS
• 2025-08-26 Listed $85,000 CRAAR, CDRMLS
• 2009-01-19 Sold (Public Records) $41,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,068 · +22.2% YoY. Source: county tax records.