1100 15th St SE · Cedar Rapids, IA 52401

$107,000

2 bd · 1.0 ba · 721 sqft · SingleFamily public records · 137 Days on market

Built 1920 5,520 sqft lot $148/sqft · at area comps Est $98k · 9% over

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Why this score? — see what drove the B- 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 +25.6/30.0
• DSCR +8.5/10.0
• Appreciation +7.1/10.0
• 1% rule +6.9/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• ARV discount +3.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Totally move in ready and oh-so-cute! Tiny house lovers unite!!! This home offers many updates including a new kitchen and bath, refinished hardwoods throughout, newer roof and siding, new light fixtures and paint throughout. Conveniently located near NewBo, downtown, the medical district, I-380, and shopping and dining options galore. Check this one out today!

Key facts

• 5,520 sq ft lot
• Built 1920
• Listed 136 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $94k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Market conditions: 13 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).
• This rent runs 43% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($740 loan paydown + $4k appreciation (4.1% local appreciation)).
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $90k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.17%
• DSCR: 1.45
• GRM: 7.0

CMA / ARV

• ARV (median comp): $98,426
• List price: $107,000
• Delta: 8.71%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1020 9th St SE	0.15mi	2/1.0	708 (-2%)	14mo	$80,000	$113	78
1032 9th St SE	0.14mi	1/1.0 (-1)	740 (+3%)	8mo	$112,500	$152	77
617 19th St St SE	0.50mi	2/1.0	720 (-0%)	8mo	$48,500	$67	70
1808 6th Ave Ave SE	0.51mi	2/1.0	720 (-0%)	9mo	$120,000	$167	69
1547 8th Avenue Ave SE	0.28mi	2/1.0	690 (-4%)	14mo	$60,000	$87	68
1915 Higley Ave SE	0.41mi	2/1.0	748 (+4%)	10mo	$110,000	$147	66
813 18th St SE	0.37mi	2/1.0	816 (+13%)	0mo	$148,550	$182	61
414 18th St SE	0.59mi	1/1.0 (-1)	660 (-8%)	5mo	$85,000	$129	49
1706 5th Ave SE	0.53mi	1/1.5 (-1)	678 (-6%)	15mo	$77,500	$114	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.19×
• Total profit: $35,709
• Equity at exit: $55,161

10-year hold

• IRR: 20.1%
• Equity multiple: 4.23×
• Total profit: $96,722
• Equity at exit: $90,954

Cash invested: $29,960 (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 52401

• Home prices YoY: 2.2%
• Active inventory: 13
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$142 /mo · $1,708/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $254

Break-even live

Break-even rent $947

Max offer price $107,000

Occupancy floor 75%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	0.22mi
400 2nd St SW Cedar Rapids, IA	1.0	1.0	615	$1,195	$1.94	20d	1	1.23mi

Listing history 27 events

1. 2026-06-19
   days on market $107,000 Active 137 DOM
2. 2026-06-18
   days on market $107,000 Active 136 DOM
3. 2026-06-17
   days on market $107,000 Active 135 DOM
4. 2026-06-16
   days on market $107,000 Active 134 DOM
5. 2026-06-15
   days on market $107,000 Active 133 DOM
6. 2026-06-14
   days on market $107,000 Active 131 DOM
7. 2026-06-13
   days on market $107,000 Active 130 DOM
8. 2026-06-10
   days on market $107,000 Active 128 DOM
9. 2026-06-09
   days on market $107,000 Active 127 DOM
10. 2026-06-08
    days on market $107,000 Active 126 DOM
11. 2026-06-07
    days on market $107,000 Active 125 DOM
12. 2026-06-05
    days on market $107,000 Active 122 DOM
13. 2026-06-03
    days on market $107,000 Active 121 DOM
14. 2026-06-02
    days on market $107,000 Active 120 DOM
15. 2026-06-01
    days on market $107,000 Active 119 DOM
16. 2026-05-31
    days on market $107,000 Active 118 DOM
17. 2026-05-30
    days on market $107,000 Active 117 DOM
18. 2026-02-10
    price $107,000
19. 2026-02-02
    listed $110,000 Active
20. 2022-08-05
    soldstatus $90,500 Closed 363-char remark

    Show marketing remark (363 chars)

    Totally move in ready and oh-so-cute! Tiny house lovers unite!!! This home offers many updates including a new kitchen and bath, refinished hardwoods throughout, newer roof and siding, new light fixtures and paint throughout. Conveniently located near NewBo, downtown, the medical district, I-380, and shopping and dining options galore. Check this one out today!

21. 2022-08-05
    soldstatus $90,500

    Show marketing remark (363 chars)

    Totally move in ready and oh-so-cute! Tiny house lovers unite!!! This home offers many updates including a new kitchen and bath, refinished hardwoods throughout, newer roof and siding, new light fixtures and paint throughout. Conveniently located near NewBo, downtown, the medical district, I-380, and shopping and dining options galore. Check this one out today!

22. 2022-07-03
    historical 363-char remark

    Show marketing remark (363 chars)

    Totally move in ready and oh-so-cute! Tiny house lovers unite!!! This home offers many updates including a new kitchen and bath, refinished hardwoods throughout, newer roof and siding, new light fixtures and paint throughout. Conveniently located near NewBo, downtown, the medical district, I-380, and shopping and dining options galore. Check this one out today!

23. 2022-05-23
    listed $89,000 363-char remark

    Show marketing remark (363 chars)

    Totally move in ready and oh-so-cute! Tiny house lovers unite!!! This home offers many updates including a new kitchen and bath, refinished hardwoods throughout, newer roof and siding, new light fixtures and paint throughout. Conveniently located near NewBo, downtown, the medical district, I-380, and shopping and dining options galore. Check this one out today!

24. 2021-07-09
    soldstatus $17,500
25. 2021-07-09
    soldstatus $17,500
26. 2021-05-24
    listed $13,700
27. 2021-05-24
    listed $13,700

ⓘ 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: $1,708 · $142/mo
• Projected year-2 tax: $1,708 · $142/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 2/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,219
• − Mortgage interest: −$5,994
• − Property taxes: −$1,708
• − Insurance: −$535
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$3,113
• Taxable income: $1,434
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $2,702/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): 2,181
• Household income: $35,060
• Rent vs Own: 90.1% rent · 9.9% own
• Severe rent burden: 324.0

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 (66%)
• Race & ethnicity: White 66% Black 19% Hispanic / Latino 7% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 4% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 4.14%
• Current HPI: 194.6053
• Rent YoY: —
• 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

+681.0% since first listed

10 events — show timeline

• 2026-02-10 Price Changed $107,000 CRAAR, CDRMLS
• 2026-02-02 Listed $110,000 CRAAR, CDRMLS
• 2022-08-05 Sold (Public Records) $90,500 Public Records
• 2022-08-05 Sold (MLS) $90,500 CRAAR, CDRMLS
• 2022-07-03 Delisted — CRAAR, CDRMLS
• 2022-05-23 Listed $89,000 CRAAR, CDRMLS
• 2021-07-09 Sold (MLS) $17,500 RMLSA as Distributed by MLS Grid
• 2021-07-09 Sold (MLS) $17,500 MRED as Distributed by MLS Grid
• 2021-05-24 Listed $13,700 RMLSA as Distributed by MLS Grid
• 2021-05-24 Listed $13,700 MRED as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $1,708 · +6.9% YoY. Source: county tax records.