513 17th St St SE · Cedar Rapids, IA 52403

$90,000

3 bd · 1.0 ba · 1,084 sqft · SingleFamily public records · 60 Days on market

Built 1900 1,742 sqft lot $83/sqft · 15% below area Est $107k · 15% under

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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 +14.5/15.0
• 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

Charming front porch, fresh flooring, and a layout that just works. The updated kitchen features white cabinetry, modern countertops, and a subway tile backsplash — clean, functional, and easy to love. Upstairs you'll find spacious bedrooms with good closet space and natural light, plus a refreshed full bath with updated finishes. Outside, the low-maintenance yard gives you room to relax without a lot of upkeep. Convenient location, solid updates, and move-in ready. Gutters and basement wall work to be completed prior to closing.

Key facts

• Front porch
• Updated kitchen
• Modern countertops

Tags

• FRONT PORCH
• UPDATED KITCHEN
• WHITE CABINETRY
• MODERN COUNTERTOPS
• SUBWAY TILE BACKSPLASH
• SPACIOUS BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 (+14.7%/yr); 236 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.55% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.45%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (median comp): $106,505
• List price: $90,000
• Delta: -15.50%
• 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
1516 8th Ave SE	0.22mi	2/1.0 (-1)	1,047 (-3%)	2mo	$137,500	$131	77
520 15th St St SE	0.18mi	2/1.0 (-1)	1,047 (-3%)	5mo	$42,000	$40	77
421 17th St St SE	0.06mi	3/1.5	1,171 (+8%)	6mo	$144,900	$124	77
1506 8th Ave SE	0.23mi	2/1.5 (-1)	1,047 (-3%)	0mo	$113,400	$108	76
2005 Washington Ave SE	0.41mi	3/1.0	1,154 (+6%)	1mo	$110,000	$95	70
1612 7th Ave	0.10mi	2/2.0 (-1)	1,166 (+8%)	6mo	$60,000	$51	69
1516 6th Ave SE	0.15mi	2/1.5 (-1)	972 (-10%)	0mo	$136,000	$140	68
375 SE Meadowbrook Ter	0.52mi	2/1.0 (-1)	1,080 (-0%)	4mo	$38,000	$35	67
1442 4th Ave SE	0.24mi	3/1.0	1,232 (+14%)	1mo	$138,000	$112	65
1751 Higley Ave Ave SE	0.30mi	2/1.0 (-1)	1,232 (+14%)	1mo	$117,500	$95	58
2039 Park Ave SE	0.51mi	2/1.5 (-1)	1,221 (+13%)	0mo	$95,000	$78	48
1821 Ridgewood Ter SE	0.54mi	3/1.0	1,226 (+13%)	7mo	$169,900	$139	47

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: 20.9%
• Equity multiple: 1.91×
• Total profit: $22,821
• Equity at exit: $13,419

10-year hold

• IRR: 32.2%
• Equity multiple: 4.66×
• Total profit: $92,109
• 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 52403

• Rents YoY: 14.7%
• Active inventory: 236
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $471

Break-even live

Break-even rent $795

Max offer price $90,000

Occupancy floor 61%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 Wellington St SE Cedar Rapids, IA	3.0	1.0	1366	$1,325	$0.97	21d	1	0.21mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	0.44mi
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	43d	1	0.51mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	43d	1	1.28mi

Listing history 19 events

1. 2026-05-18
   status Pending 541-char remark

   Show marketing remark (541 chars)

   Charming front porch, fresh flooring, and a layout that just works. The updated kitchen features white cabinetry, modern countertops, and a subway tile backsplash — clean, functional, and easy to love. Upstairs you'll find spacious bedrooms with good closet space and natural light, plus a refreshed full bath with updated finishes. Outside, the low-maintenance yard gives you room to relax without a lot of upkeep. Convenient location, solid updates, and move-in ready. Gutters and basement wall work to be completed prior to closing.

2. 2026-05-13
   status Pending 541-char remark

   Show marketing remark (541 chars)

   Charming front porch, fresh flooring, and a layout that just works. The updated kitchen features white cabinetry, modern countertops, and a subway tile backsplash — clean, functional, and easy to love. Upstairs you'll find spacious bedrooms with good closet space and natural light, plus a refreshed full bath with updated finishes. Outside, the low-maintenance yard gives you room to relax without a lot of upkeep. Convenient location, solid updates, and move-in ready. Gutters and basement wall work to be completed prior to closing.

3. 2026-03-19
   listed $90,000 Active 541-char remark

   Show marketing remark (541 chars)

   Charming front porch, fresh flooring, and a layout that just works. The updated kitchen features white cabinetry, modern countertops, and a subway tile backsplash — clean, functional, and easy to love. Upstairs you'll find spacious bedrooms with good closet space and natural light, plus a refreshed full bath with updated finishes. Outside, the low-maintenance yard gives you room to relax without a lot of upkeep. Convenient location, solid updates, and move-in ready. Gutters and basement wall work to be completed prior to closing.

4. 2026-03-19
   listed $90,000 Active 541-char remark

   Show marketing remark (541 chars)

   Charming front porch, fresh flooring, and a layout that just works. The updated kitchen features white cabinetry, modern countertops, and a subway tile backsplash — clean, functional, and easy to love. Upstairs you'll find spacious bedrooms with good closet space and natural light, plus a refreshed full bath with updated finishes. Outside, the low-maintenance yard gives you room to relax without a lot of upkeep. Convenient location, solid updates, and move-in ready. Gutters and basement wall work to be completed prior to closing.

5. 2026-03-05
   price $98,000
6. 2026-03-02
   price $98,000
7. 2025-10-22
   price $98,500
8. 2025-10-22
   price $98,500
9. 2025-10-07
   price $109,500
10. 2025-10-07
    price $109,500
11. 2025-09-25
    price $110,000
12. 2025-09-25
    price $110,000
13. 2025-09-18
    listed $117,500 Active
14. 2025-07-11
    soldstatus $152,500
15. 2020-07-13
    soldstatus $54,950
16. 2019-07-30
    listed $54,950
17. 2019-01-04
    soldstatus $40,000
18. 2019-01-04
    soldstatus $40,000
19. 2018-05-18
    listed $44,000

ⓘ 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: $1,422 · $118/mo
• Projected year-2 tax: $1,422 · $118/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 (unshaded) · 10% 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: $16,700
• − Mortgage interest: −$5,041
• − Property taxes: −$1,422
• − Insurance: −$450
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$2,618
• Taxable income: $4,496
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $4,578/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

+104.5% since first listed

19 events — show timeline

• 2026-05-18 Pending — ICAARMLS
• 2026-05-13 Pending — CRAAR, CDRMLS
• 2026-03-19 Listed $90,000 CRAAR, CDRMLS
• 2026-03-19 Listed $90,000 ICAARMLS
• 2026-03-05 Price Changed $98,000 CRAAR, CDRMLS
• 2026-03-02 Price Changed $98,000 ICAARMLS
• 2025-10-22 Price Changed $98,500 ICAARMLS
• 2025-10-22 Price Changed $98,500 CRAAR, CDRMLS
• 2025-10-07 Price Changed $109,500 CRAAR, CDRMLS
• 2025-10-07 Price Changed $109,500 ICAARMLS
• 2025-09-25 Price Changed $110,000 ICAARMLS
• 2025-09-25 Price Changed $110,000 CRAAR, CDRMLS
• 2025-09-18 Listed $117,500 ICAARMLS
• 2025-07-11 Sold (Public Records) $152,500 Public Records
• 2020-07-13 Sold (MLS) $54,950 CRAAR, CDRMLS
• 2019-07-30 Listed $54,950 CRAAR, CDRMLS
• 2019-01-04 Sold (Public Records) $40,000 Public Records
• 2019-01-04 Sold (MLS) $40,000 CRAAR, CDRMLS
• 2018-05-18 Listed $44,000 CRAAR, CDRMLS

Property tax history

+3.2%/yr

Latest (2025): $1,422 · +2.3% YoY. Source: county tax records.