1507 Hinkley Ave NW · Cedar Rapids, IA 52405

$167,000

3 bd · 2.0 ba · 1,436 sqft · SingleFamily public records · 14 Days on market

Built 1918 6,098 sqft lot Est $159k · at est.

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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 +13.4/30.0
• ARV discount +5.4/15.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

Key facts

• Formal dining room
• Front porch
• Newer siding

Tags

• HARDWOOD FLOORS
• FORMAL DINING ROOM
• UPPER-LEVEL BONUS SPACE
• FRONT PORCH
• NEWER SIDING
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached garage with 2 spaces; Garage door opener; Guest parking, off-street and on-street parking available
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Fenced yard; Pets allowed

Interior

• Kitchen: Microwave, Range, Dishwasher, Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dryer, Dishwasher, Gas water heater, Microwave, Range, Refrigerator, Washer; Full basement
• Laundry & utility: Washer and Dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $4 ($49/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 $146k (12.6% below list).
• Recommended offer: $146k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Cleveland Elementary School (math 37% / reading 47%, grade F, #563 of 616 statewide, top 93%, 293 students, 69% 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 65% FRL vs 43% district-wide (21 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $109k; list at $167k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,941 (12.6% below list)

Questions for the listing agent

1. Built in 1918 — 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: 0.87% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $159,396
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Highland Dr Dr NW	0.07mi	3/1.0	1,480 (+3%)	0mo	$159,900	$108	88
1629 C Ave Ave NW	0.18mi	2/2.0 (-1)	1,476 (+3%)	3mo	$245,000	$166	79
1020 A Ave NW	0.31mi	2/1.0 (-1)	1,344 (-6%)	1mo	$125,000	$93	65
139 21st St SW	0.54mi	4/1.5 (+1)	1,500 (+4%)	1mo	$166,000	$111	59
911 A Ave NW	0.40mi	3/1.0	1,284 (-11%)	2mo	$75,000	$58	58
1114 11th St St NW	0.70mi	4/2.0 (+1)	1,404 (-2%)	2mo	$181,000	$129	57
1860 E Ave NW	0.46mi	3/1.0	1,600 (+11%)	2mo	$165,000	$103	54
1413 Seminole Ave NW	0.39mi	3/1.0	1,617 (+13%)	4mo	$135,000	$83	54
1013 D Ave NW	0.37mi	4/2.0 (+1)	1,233 (-14%)	2mo	$130,000	$105	52
1100 18th St NW	0.60mi	3/1.0	1,563 (+9%)	3mo	$244,000	$156	51
1024 Cheyenne Rd Rd NW	0.64mi	3/2.0	1,246 (-13%)	2mo	$190,000	$152	47
1119 18th St St	0.69mi	3/1.0	1,649 (+15%)	1mo	$240,000	$146	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: -10.7%
• Equity multiple: 0.59×
• Total profit: $-19,070
• Equity at exit: $24,900

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $18,909
• Equity at exit: $14,439

Cash invested: $46,760 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$204 /mo · $2,442/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $4

Break-even live

Break-even rent $1,454

Max offer price $167,000

Occupancy floor 95%

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: $41,750
• Closing costs: $5,010
• 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	0.34mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	43d	1	0.44mi

Listing history 15 events

1. 2026-05-30
   statusdays on market $167,000 Pending 14 DOM
2. 2026-05-16
   listed $167,000 Active
3. 2022-12-21
   soldstatus $109,000
4. 2022-12-20
   soldstatus $109,000 Closed 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

5. 2022-11-21
   status Pending 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

6. 2022-11-03
   price $115,950 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

7. 2022-11-02
   status Active 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

8. 2022-10-24
   status Pending 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

9. 2022-10-10
   status Active 410-char remark

   Show marketing remark (410 chars)

   This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

10. 2022-09-23
    status Pending 410-char remark

    Show marketing remark (410 chars)

    This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

11. 2022-09-20
    price $119,950 410-char remark

    Show marketing remark (410 chars)

    This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

12. 2022-09-07
    price $129,950 410-char remark

    Show marketing remark (410 chars)

    This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

13. 2022-08-26
    price $139,950 410-char remark

    Show marketing remark (410 chars)

    This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

14. 2022-08-12
    listed $145,950 Active 410-char remark

    Show marketing remark (410 chars)

    This great two and half story home is located close to Roosevelt Middle School, Jefferson High School, Kingston Stadium, and Hy-Vee. You'll enjoy the hard wood floors and formal dining room. Sit outside on your front porch. AC and Siding were done 2021. The top floor would make a great office area or playroom. This room also features extra storage area. Make sure you check out the extra deep two car garage.

15. 2012-02-29
    soldstatus $57,000

ⓘ 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: $2,442 · $204/mo
• Projected year-2 tax: $2,532 · $211/mo
• Expected delta: +$90/yr (+$7/mo · 3.7%)

ⓘ 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: $17,513
• − Mortgage interest: −$9,355
• − Property taxes: −$2,442
• − Insurance: −$835
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$4,858
• Taxable loss: −$2,779
• Est. tax savings @ 24.0%: +$667
• After-tax cash flow: $716/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

+193.0% since first listed

14 events — show timeline

• 2026-05-16 Listed $167,000 CRAAR, CDRMLS
• 2022-12-21 Sold (Public Records) $109,000 Public Records
• 2022-12-20 Sold (MLS) $109,000 CRAAR, CDRMLS
• 2022-11-21 Pending — CRAAR, CDRMLS
• 2022-11-03 Price Changed $115,950 CRAAR, CDRMLS
• 2022-11-02 Relisted — CRAAR, CDRMLS
• 2022-10-24 Pending — CRAAR, CDRMLS
• 2022-10-10 Relisted — CRAAR, CDRMLS
• 2022-09-23 Pending — CRAAR, CDRMLS
• 2022-09-20 Price Changed $119,950 CRAAR, CDRMLS
• 2022-09-07 Price Changed $129,950 CRAAR, CDRMLS
• 2022-08-26 Price Changed $139,950 CRAAR, CDRMLS
• 2022-08-12 Listed $145,950 CRAAR, CDRMLS
• 2012-02-29 Sold (Public Records) $57,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,442 · +2.3% YoY. Source: county tax records.