813 18th St SE · Cedar Rapids, IA 52403

$135,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 3 Days on market

Built 1920 5,227 sqft lot Est $124k · 9% 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 +17.8/30.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• ARV discount +3.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

What a terrific SE home, well-loved over the last 42 years. .. It's also a home with over $139,000 in updates by the current owner!  The beautiful kitchen has slow-close hickory wood cabinets, quartz countertops/backsplash, bamboo flooring, a new sink/faucet & roller window shades.   Full bathroom has been updated top to bottom - including an expensive walk-in shower & new window.   Other smart investments include a tankless water heater, a metal roof, solar panels (paid in full), gutters & gutter guards, extensive retaining walls in front & back yards, driveway & sidewalk replacement, updated siding, a full rebuild of the garage,  an update

Key facts

• Quartz countertops
• Metal roof
• Walk-in shower

Tags

• HICKORY WOOD CABINETS
• QUARTZ COUNTERTOPS
• BAMBOO FLOORING
• WALK-IN SHOWER
• TANKLESS WATER HEATER
• METAL ROOF

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Patio; Fenced yard

Interior

• Kitchen: Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating (forced air); Central air conditioning
• Interior features: Eat-in kitchen; See remarks
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/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 $124k (8.5% below list).
• Recommended offer: $124k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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); Mckinley Steam Academy (math 45% / reading 55%, grade C, #216 of 246 statewide, top 88%, 448 students, 52% 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 (+14.7%/yr); 238 active listings in the ZIP; 4 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 $933 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,505 (8.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.91% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $124,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 18th St SE	0.00mi	2/1.0	816 (0%)	0mo	$148,550	$182	100
1915 Higley Ave SE	0.15mi	2/1.0	748 (-8%)	10mo	$110,000	$147	70
617 19th St St SE	0.13mi	2/1.0	720 (-12%)	8mo	$48,500	$67	68
2315 11th Ave SE	0.57mi	2/—	810 (-1%)	8mo	$45,000	$56	66
1808 6th Ave Ave SE	0.16mi	2/1.0	720 (-12%)	9mo	$120,000	$167	65
1041 19th St St SE	0.33mi	2/1.0	912 (+12%)	7mo	$75,000	$82	59
357 21st St St SE	0.57mi	2/1.0	837 (+3%)	12mo	$143,000	$171	59
1801 Blake Blvd SE	0.64mi	3/1.0 (+1)	780 (-4%)	7mo	$119,900	$154	52
1032 9th St SE	0.49mi	1/1.0 (-1)	740 (-9%)	8mo	$112,500	$152	50
912 10th St SE	0.43mi	3/1.0 (+1)	915 (+12%)	8mo	$142,500	$156	48
1020 9th St SE	0.49mi	2/1.0	708 (-13%)	14mo	$80,000	$113	43
1116 Forest Dr SE	0.67mi	2/1.0	899 (+10%)	17mo	$135,000	$150	38

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: -5.6%
• Equity multiple: 0.78×
• Total profit: $-8,282
• Equity at exit: $20,129

10-year hold

• IRR: 9.0%
• Equity multiple: 1.83×
• Total profit: $31,529
• Equity at exit: $11,672

Cash invested: $37,800 (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 52403

• Rents YoY: 14.7%
• Active inventory: 238
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,235 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $111

Break-even live

Break-even rent $1,094

Max offer price $135,000

Occupancy floor 86%

Sensitivity live

Price	-10% $188	-5% $150	+0% $111	+5% $73	+10% $35
Rent	-10% $14	-5% $63	+0% $111	+5% $160	+10% $209
Rate	-1.0pp $179	-0.5pp $146	base $111	+0.5pp $76	+1.0pp $41

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	44d	1	0.28mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	14d	6	0.41mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	44d	1	1.47mi
400 2nd St SW Cedar Rapids, IA	1.0	1.0	615	$1,195	$1.94	22d	1	1.48mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-11
   listed $135,000 Active

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,661 · $138/mo
• Expected delta: +$459/yr (+$38/mo · 38.2%)

ⓘ 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 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,821
• − Mortgage interest: −$7,562
• − Property taxes: −$1,202
• − Insurance: −$675
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$3,927
• Taxable loss: −$917
• Est. tax savings @ 24.0%: +$220
• After-tax cash flow: $1,556/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): 22,551
• Household income: $74,703
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 452.0

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 (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 3% Slovak 3% Portuguese 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -170.15%
• Current HPI: 196.1114
• Rent YoY: ▲ 14.67%
• 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

2 events — show timeline

• 2026-05-14 Pending — CRAAR, CDRMLS
• 2026-05-11 Listed $135,000 CRAAR, CDRMLS

Property tax history

-0.3%/yr

Latest (2025): $1,202 · -6.1% YoY. Source: county tax records.