1112 1st Ave Ave NW · Cedar Rapids, IA 52405

$135,000

3 bd · 2.0 ba · 1,744 sqft · SingleFamily public records · 3 Days on market

Built 1916 7,492 sqft lot Est $166k · 19% under

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.8/10.0
• 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

INVESTOR ALERT! Great opportunity to make this home SHINE with the right vision and skillset. 3 bedrooms, 2 full bathrooms, large 2-stall detached garage with extra parking space behind the house, and conveniently located on 1st Ave, only minutes away from downtown and I-380. Upper level includes hookups to add a small secondary kitchen. PROPERTY IS BEING SOLD AS-IS. Sellers will make no repairs.

Key facts

• Extra parking space
• Detached garage
• 7,492 sq ft lot

Tags

• DETACHED GARAGE
• EXTRA PARKING SPACE
• HOOKUPS FOR SECONDARY KITCHEN

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story
• Construction: Frame construction with vinyl siding
• Exterior features: Pets allowed; Lot approximately 50 x 150 (0.172 acres)

Interior

• Kitchen: Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: See remarks; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.0% 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: Harrison Elementary School (math 37% / reading 42%, grade F, #579 of 616 statewide, top 95%, 285 students, 78% FRL); Roosevelt Creative Corridor Business Academy (math 36% / reading 47%, grade F, #235 of 246 statewide, top 96%, 510 students, 69% FRL); Thomas Jefferson High School (math 41% / reading 62%, grade D+, #307 of 336 statewide, top 91%, 1,543 students, 56% FRL) — zoned schools average 68% FRL vs 43% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $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 ~9 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1916 — 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: 1.08% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $165,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1311 Burch Ave Ave NW	0.18mi	3/1.0	1,640 (-6%)	4mo	$180,000	$110	74
460 9th Ave SW	0.58mi	3/1.5	1,741 (-0%)	2mo	$150,000	$86	69
716 F Ave NW	0.52mi	4/2.0 (+1)	1,761 (+1%)	4mo	$195,700	$111	65
712 8th St	0.39mi	3/1.5	1,629 (-7%)	6mo	$163,000	$100	64
147 18th St SW	0.52mi	2/1.5 (-1)	1,710 (-2%)	2mo	$150,000	$88	64
1338 Hinkley Ave NW	0.27mi	2/1.5 (-1)	1,571 (-10%)	4mo	$134,000	$85	61
1413 Seminole Ave NW	0.56mi	3/1.0	1,617 (-7%)	4mo	$135,000	$83	55
1424 11th St SW	0.64mi	4/2.0 (+1)	1,637 (-6%)	5mo	$125,000	$76	51
403 8th Ave SW	0.65mi	2/2.0 (-1)	1,890 (+8%)	1mo	$176,000	$93	50
319 5th St NW	0.50mi	2/1.0 (-1)	1,544 (-12%)	5mo	$146,000	$95	44
1100 18th St NW	0.69mi	3/1.0	1,563 (-10%)	3mo	$244,000	$156	44
1015 Pawnee Dr NW	0.73mi	3/2.0	1,540 (-12%)	5mo	$155,000	$101	43

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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,837
• Equity at exit: $20,129

10-year hold

• IRR: 13.3%
• Equity multiple: 2.31×
• Total profit: $49,476
• 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 52405

• Rents YoY: 12.4%
• Active inventory: 145
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$196 /mo · $2,346/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $193

Break-even live

Break-even rent $1,215

Max offer price $135,000

Occupancy floor 82%

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 2 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	13d	1	0.26mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	43d	1	0.33mi

Listing history 5 events

1. 2026-06-02
   status $135,000 Pending 3 DOM
2. 2026-06-01
   days on market $135,000 Active 3 DOM
3. 2026-05-31
   days on market $135,000 Active 2 DOM
4. 2026-05-30
   remarks 399-char remark
5. 2026-05-30
   listed $135,000 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: $2,346 · $196/mo
• Projected year-2 tax: $2,346 · $196/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 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: $17,509
• − Mortgage interest: −$7,562
• − Property taxes: −$2,346
• − Insurance: −$675
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$3,927
• Taxable income: $197
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $2,268/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

1 event — show timeline

• 2026-05-29 Listed $135,000 CRAAR, CDRMLS

Property tax history

+1.0%/yr

Latest (2025): $2,346 · +13.4% YoY. Source: county tax records.