1524 48th St NE · Cedar Rapids, IA 52402

$195,000

4 bd · 2.0 ba · 1,573 sqft · SingleFamily public records · 2 Days on market

Built 1958 7,841 sqft lot Est $203k · at est.

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Why this score? — see what drove the C 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 +21.5/30.0
• ARV discount +9.3/15.0
• DSCR +6.8/10.0
• 1% rule +5.5/10.0
• 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

Spacious 1.5 story with 4 bedrooms, 2 baths, 20 x 24 garage with attic space and ample storage on all 3 levels. Cove ceilings, plastered walls and beautiful hardwood floors can be found on the mail level along with an eat-in kitchen, LR, 2 bedrooms and a bath. Upstairs features another 2 bedrooms and bath and LL features a rec room, laundry room and 2 more rooms for a shop, or exercise or craft rooms. All appliances are included. Roof tear-off and leaf-guard gutters were done in 2016 and a new furnace humidifier was added in 2021. This home has had only 2 owners with the present owners living there 50+ years. Close to Collins Aerospace, Noelridge Park and pool and behind St Pius. Estate. Sold "AS IS"!

Key facts

• Half bath
• Flex space
• Rec room

Tags

• HARDWOOD FLOORS
• EAT-IN KITCHEN
• NEW APPLIANCES
• FLEX SPACE
• REC ROOM
• HALF BATH

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half level design; One story above grade
• Construction: Frame construction with vinyl siding
• Exterior features: Fenced yard

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher; Garbage disposal
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.1% 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: Wright Elementary School (math 47% / reading 47%, grade D-, #530 of 616 statewide, top 88%, 295 students, 76% FRL); Harding Middle School (math 61% / reading 69%, grade A-, #154 of 246 statewide, top 63%, 713 students, 43% 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; 2 comparable units currently listed for rent nearby; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 33% 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 $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $165k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,000

Questions for the listing agent

1. Built in 1958 — 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. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $202,917
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4436 Rushmore Dr Dr NE	0.18mi	3/2.0 (-1)	1,523 (-3%)	2mo	$210,000	$138	79
2044 Evergreen St	0.64mi	4/2.5	1,646 (+5%)	7mo	$240,000	$146	54
1101 NE Dover St	0.50mi	3/1.0 (-1)	1,482 (-6%)	6mo	$160,000	$108	52
2106 42nd St St NE	0.64mi	3/2.0 (-1)	1,680 (+7%)	4mo	$175,000	$104	51
1456 Miami Dr Dr NE	0.59mi	3/2.0 (-1)	1,469 (-7%)	7mo	$182,500	$124	51
4432 Regal Ave NE	0.60mi	3/1.0 (-1)	1,677 (+7%)	4mo	$143,000	$85	49
1110 Regent St St NE	0.45mi	3/1.0 (-1)	1,377 (-12%)	1mo	$215,000	$156	48
4524 Fairlane Dr NE	0.73mi	3/1.5 (-1)	1,643 (+4%)	9mo	$225,000	$137	44
1236 Miami Ct NE	0.65mi	3/1.0 (-1)	1,472 (-6%)	7mo	$175,000	$119	44
3917 Nancy Jane Ln NE	0.72mi	3/2.5 (-1)	1,391 (-12%)	1mo	$180,000	$129	39
1626 Hollywood Blvd Blvd NE	0.67mi	3/2.0 (-1)	1,802 (+15%)	1mo	$231,000	$128	39
1611 Hollywood Blvd NE	0.69mi	3/2.0 (-1)	1,377 (-12%)	5mo	$190,000	$138	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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-2,226
• Equity at exit: $29,075

10-year hold

• IRR: 13.3%
• Equity multiple: 2.30×
• Total profit: $71,187
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,044 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$220 /mo · $2,638/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $291

Break-even live

Break-even rent $1,676

Max offer price $195,000

Occupancy floor 81%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
419 Cimarron Dr Hiawatha, IA	3.0	2.5	1680	$2,650	$1.58	43d	1	1.00mi
1127 34th St NE Cedar Rapids, IA	3.0	2.0	1152	$1,385	$1.20	43d	1	1.07mi

Listing history 3 events

1. 2026-06-05
   statusdays on market $195,000 Pending 2 DOM
2. 2026-06-03
   remarks 699-char remark
3. 2026-06-03
   listed $195,000 Active 1 DOM

ⓘ 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: $2,638 · $220/mo
• Projected year-2 tax: $2,850 · $237/mo
• Expected delta: +$212/yr (+$18/mo · 8.0%)

ⓘ 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 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: $24,531
• − Mortgage interest: −$10,923
• − Property taxes: −$2,638
• − Insurance: −$975
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$5,673
• Taxable income: $397
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $3,400/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

+30.0% since first listed

4 events — show timeline

• 2026-06-02 Listed $195,000 CRAAR, CDRMLS
• 2022-05-26 Sold (Public Records) $165,000 Public Records
• 2022-05-24 Sold (MLS) $165,000 CRAAR, CDRMLS
• 2022-04-25 Listed $149,950 CRAAR, CDRMLS

Property tax history

+1.7%/yr

Latest (2025): $2,638 · +4.5% YoY. Source: county tax records.