721 F Ave Ave NW · Cedar Rapids, IA 52405

$90,000

4 bd · 1.5 ba · 1,820 sqft · SingleFamily public records · 18 Days on market

Built 1900 5,227 sqft lot $49/sqft · 50% below area Est $178k · 50% under ↓ 29% 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

4/30/26_ HUD preliminary accepted an offer. Will mark SP as soon as contract is ratified. Step into this grand 2 story home, with four bedrooms and one and half baths. As you enter your greeted with a ornate staircase and high ceilings and a 1st floor bedroom. Spacious rooms and the side enclosed porch is a plus and some updates have been made over the years. Neutural walls and flooring make it easier to make your own. The second level has 3 bedrooms, a full bath with laundry. Outside you have a nice sized yard fenced in and a parking spot off the alley. Property is located in a flood zone per FEMA map. This property is managed by Raine Companies and is an exclusive listing. For more infomation and bidding periods visit www. hudhomestore. com, case #161-388153. Hud properties are sold as.

Key facts

• Ornate staircase
• High ceilings
• Side enclosed porch

Tags

• ORNATE STAIRCASE
• HIGH CEILINGS
• SIDE ENCLOSED PORCH
• FENCED IN YARD
• PARKING SPOT OFF THE ALLEY

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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); 148 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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 $622 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.96% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.50%
• DSCR: 2.31
• GRM: 4.3

CMA / ARV

• ARV (median comp): $178,245
• List price: $90,000
• Delta: -49.51%
• 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
716 F Ave NW	0.03mi	4/2.0	1,761 (-3%)	5mo	$195,700	$111	87
1238 NW Ellis Blvd	0.44mi	4/2.0	1,798 (-1%)	3mo	$149,000	$83	73
1130 13th St	0.49mi	3/2.5 (-1)	1,817 (-0%)	6mo	$245,000	$135	63
1126 13th St NW	0.48mi	3/2.5 (-1)	1,767 (-3%)	5mo	$241,000	$136	59
1427 Pawnee Dr	0.54mi	3/2.0 (-1)	1,896 (+4%)	8mo	$225,000	$119	54
1307 8th St NW	0.47mi	5/2.0 (+1)	1,718 (-6%)	10mo	$192,000	$112	54
1413 Seminole Ave NW	0.45mi	3/1.0 (-1)	1,617 (-11%)	4mo	$135,000	$83	50
1311 Burch Ave Ave NW	0.56mi	3/1.0 (-1)	1,640 (-10%)	4mo	$180,000	$110	47
403 6th Ave SW	0.73mi	4/2.0	1,720 (-6%)	9mo	$168,000	$98	47
1119 18th St St	0.75mi	3/1.0 (-1)	1,649 (-9%)	1mo	$240,000	$146	41
1605 11th Ave	0.74mi	4/2.0	1,584 (-13%)	1mo	$215,000	$136	41
712 8th St	0.69mi	3/1.5 (-1)	1,629 (-10%)	6mo	$163,000	$100	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: 30.2%
• Equity multiple: 2.36×
• Total profit: $34,298
• Equity at exit: $13,419

10-year hold

• IRR: 40.5%
• Equity multiple: 5.90×
• Total profit: $123,515
• Equity at exit: $7,782

Cash invested: $25,200 (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: 148
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,761 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$262 /mo · $3,148/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $619

Break-even live

Break-even rent $977

Max offer price $90,000

Occupancy floor 60%

Sensitivity live

Price	-10% $670	-5% $645	+0% $619	+5% $594	+10% $569
Rent	-10% $480	-5% $550	+0% $619	+5% $689	+10% $759
Rate	-1.0pp $665	-0.5pp $642	base $619	+0.5pp $596	+1.0pp $572

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 C Ave NW Cedar Rapids, IA	3.0	1.5	1446	$1,500	$1.04	14d	1	0.27mi

Listing history 7 events

1. 2026-05-08
   status Pending 799-char remark

   Show marketing remark (799 chars)

   4/30/26_ HUD preliminary accepted an offer. Will mark SP as soon as contract is ratified. Step into this grand 2 story home, with four bedrooms and one and half baths. As you enter your greeted with a ornate staircase and high ceilings and a 1st floor bedroom. Spacious rooms and the side enclosed porch is a plus and some updates have been made over the years. Neutural walls and flooring make it easier to make your own. The second level has 3 bedrooms, a full bath with laundry. Outside you have a nice sized yard fenced in and a parking spot off the alley. Property is located in a flood zone per FEMA map. This property is managed by Raine Companies and is an exclusive listing. For more infomation and bidding periods visit www. hudhomestore. com, case #161-388153. Hud properties are sold as.

2. 2026-04-20
   listed $90,000 Active 799-char remark

   Show marketing remark (799 chars)

   4/30/26_ HUD preliminary accepted an offer. Will mark SP as soon as contract is ratified. Step into this grand 2 story home, with four bedrooms and one and half baths. As you enter your greeted with a ornate staircase and high ceilings and a 1st floor bedroom. Spacious rooms and the side enclosed porch is a plus and some updates have been made over the years. Neutural walls and flooring make it easier to make your own. The second level has 3 bedrooms, a full bath with laundry. Outside you have a nice sized yard fenced in and a parking spot off the alley. Property is located in a flood zone per FEMA map. This property is managed by Raine Companies and is an exclusive listing. For more infomation and bidding periods visit www. hudhomestore. com, case #161-388153. Hud properties are sold as.

3. 2023-07-01
   status Pending
4. 2023-06-16
   listed $155,000 Active
5. 2019-08-15
   soldstatus $129,500
6. 2019-08-14
   soldstatus $129,450
7. 2019-07-09
   listed $125,950

ⓘ 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: $3,148 · $262/mo
• Projected year-2 tax: $3,148 · $262/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 3/10 Moderate FEMA zone X (shaded) · 16% 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: $21,134
• − Mortgage interest: −$5,041
• − Property taxes: −$3,148
• − Insurance: −$450
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$2,618
• Taxable income: $6,495
• Est. tax owed @ 24.0%: −$1,559
• After-tax cash flow: $5,875/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

-28.5% since first listed

7 events — show timeline

• 2026-05-08 Pending — CRAAR, CDRMLS
• 2026-04-20 Listed $90,000 CRAAR, CDRMLS
• 2023-07-01 Pending — CRAAR, CDRMLS
• 2023-06-16 Listed $155,000 CRAAR, CDRMLS
• 2019-08-15 Sold (Public Records) $129,500 Public Records
• 2019-08-14 Sold (MLS) $129,450 CRAAR, CDRMLS
• 2019-07-09 Listed $125,950 CRAAR, CDRMLS

Property tax history

+6.6%/yr

Latest (2025): $3,148 · +21.5% YoY. Source: county tax records.