5703 Golden Ct NE #42 Ct · Cedar Rapids, IA 52402

$119,950

2 bd · 2.0 ba · 1,136 sqft · Other public records · 5 Days on market

Built 1975 $240/mo HOA · 20% of rent

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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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Not your average condo. This unit comes with 2 garage stalls. The all-brick exterior is great for sound proofing and safety. Located close to everything. Inside offers an open floor plan with the kitchen being opened up to the living area. 2 large bedrooms and 2 full bathrooms including a master bedroom suite. Generous storage areas and in unit laundry.

Key facts

• Open floor plan
• In unit laundry
• Master bedroom suite

Tags

• ALL BRICK EXTERIOR
• OPEN FLOOR PLAN
• MASTER BEDROOM SUITE
• GENEROUS STORAGE AREAS
• IN UNIT LAUNDRY

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $2,880 (equivalent to $240/month)

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property
• Construction: Brick and frame construction
• Exterior features: Deck; Sidewalks; Street lights

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (19.4% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $97k (19.4% below list) — sets the bar for cash-flow.
• Cap rate 5.0% 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.
• Linn-Mar Community School District (suburban): math 75% / reading 76% proficiency, ranked #44 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Westfield Elementary School (math 87% / reading 77%, grade A+, #44 of 616 statewide, top 9%, 506 students, 20% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 286 active listings in the ZIP; 6 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 $830 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $96,739 (19.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.37×
• Total profit: $-21,205
• Equity at exit: $17,885

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $711
• Equity at exit: $10,371

Cash invested: $33,586 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$629
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$50
• HOA: −$240
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-131

Break-even live

Break-even rent $1,381

Max offer price $96,739

Occupancy floor —

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: $29,988
• Closing costs: $3,598
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
663 Boyson Rd NE Cedar Rapids, IA	3.0	2.0	1344	$1,765	$1.31	13d	1	0.66mi
400 Lindale Dr Marion, IA	3.0	2.0	942	$1,092	$1.16	13d	1	0.93mi
127 Southview Dr Marion, IA	2.0	1.0	1230	$950	$0.77	43d	1	1.18mi
1020 Twixt Town Rd Marion, IA	1.0	1.0	1230	$825	$0.67	13d	1	1.20mi
4341 1st Ave SE Cedar Rapids, IA	2.0	1.0	610	$1,000	$1.64	43d	1	1.20mi
4521 Rushmore Dr NE Unit D Cedar Rapids, IA	2.0	1.5	700	$895	$1.28	43d	1	1.27mi

HOA detail

• Monthly dues: $240 · $2,880/yr

Listing history 15 events

1. 2026-04-15
   status Pending
2. 2026-04-14
   status Pending 355-char remark

   Show marketing remark (355 chars)

   Not your average condo. This unit comes with 2 garage stalls. The all-brick exterior is great for sound proofing and safety. Located close to everything. Inside offers an open floor plan with the kitchen being opened up to the living area. 2 large bedrooms and 2 full bathrooms including a master bedroom suite. Generous storage areas and in unit laundry.

3. 2026-04-09
   listed $119,950 Active
4. 2026-04-07
   listed $119,950 Active 355-char remark

   Show marketing remark (355 chars)

   Not your average condo. This unit comes with 2 garage stalls. The all-brick exterior is great for sound proofing and safety. Located close to everything. Inside offers an open floor plan with the kitchen being opened up to the living area. 2 large bedrooms and 2 full bathrooms including a master bedroom suite. Generous storage areas and in unit laundry.

5. 2025-03-17
   soldstatus $124,625
6. 2025-03-14
   soldstatus $114,000 Closed 936-char remark

   Show marketing remark (936 chars)

   Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

7. 2025-02-20
   status Pending 936-char remark

   Show marketing remark (936 chars)

   Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

8. 2025-02-17
   price $117,500 936-char remark

   Show marketing remark (936 chars)

   Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

9. 2024-12-27
   price $120,000 936-char remark

   Show marketing remark (936 chars)

   Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

10. 2024-12-03
    price $123,000 936-char remark

    Show marketing remark (936 chars)

    Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

11. 2024-11-14
    listed $125,000 Active 936-char remark

    Show marketing remark (936 chars)

    Looking for a condo? Look no further! The is a unique second floor condo that has been remodeled into an open concept dream floor plan! The kitchen has been updated and features granite counters, custom tile backdrop, and new appliances. In the last few years, new light fixtures and flooring were changed throughout. There is a primary suite with a full bathroom that has a walk-in shower, an additional bedroom, and another full bathroom with a bathtub. The utility room is convenient with included newer washer and dryer and a doorway to the hallway with additional secured storage. You can enjoy the balcony when the weather is nice. Owner can enter through the front or the back of the building, and has two garages, yes two! Perfect for additional storage or if you have two vehicles. Includes garage parcels, garage parcels 140310300501026 and 140310300501027. Start-up fee $185. HOA dues to increase to $240/month effective 3/1.

12. 2021-09-01
    soldstatus $99,000
13. 2021-08-31
    soldstatus $98,900
14. 2021-06-01
    listed $98,900
15. 2010-11-12
    soldstatus $66,000

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $2,066 · $172/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $14,579
• − Mortgage interest: −$6,719
• − Property taxes: −$2,066
• − Insurance: −$600
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − HOA: −$2,880
• − Depreciation: −$3,489
• Taxable loss: −$3,508
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $-735/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: Linn-Mar Community School District
• NCES district ID: 1917220
• Math proficiency: 75% ▼ -7.00%
• Reading proficiency: 76% ▼ -5.00%
• Median HH income: $72,473
• Composite: 66.08/100
• National rank: #440
• State rank: #44 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

+81.7% since first listed

15 events — show timeline

• 2026-04-15 Pending — ICAARMLS
• 2026-04-14 Pending — CRAAR, CDRMLS
• 2026-04-09 Listed $119,950 ICAARMLS
• 2026-04-07 Listed $119,950 CRAAR, CDRMLS
• 2025-03-17 Sold (Public Records) $124,625 Public Records
• 2025-03-14 Sold (MLS) $114,000 CRAAR, CDRMLS
• 2025-02-20 Pending — CRAAR, CDRMLS
• 2025-02-17 Price Changed $117,500 CRAAR, CDRMLS
• 2024-12-27 Price Changed $120,000 CRAAR, CDRMLS
• 2024-12-03 Price Changed $123,000 CRAAR, CDRMLS
• 2024-11-14 Listed $125,000 CRAAR, CDRMLS
• 2021-09-01 Sold (Public Records) $99,000 Public Records
• 2021-08-31 Sold (MLS) $98,900 CRAAR, CDRMLS
• 2021-06-01 Listed $98,900 CRAAR, CDRMLS
• 2010-11-12 Sold (Public Records) $66,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,066 · +11.9% YoY. Source: county tax records.