6208 Greenbriar Ln SW Unit C Ln · Cedar Rapids, IA 52404

$142,000

2 bd · 2.0 ba · 1,147 sqft · Condo public records · 13 Days on market

Built 1985

---

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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained two bedroom and two bathrooms. Nice Deck. Newer carpet throughout main rooms, plus new outdoor carpet on deck. Extra storage room for unit. One stall attached garage. Secured building. Pets only one cat allowed, no dogs sorry!

Key facts

• Garage
• Built 1985
• Listed 13 days

Property features AI

Finance

• HOA & community: Annual association fee; Sidewalks; Street lights

Exterior

• Parking: Attached parking; Off-street parking; 1 parking space total
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property
• Construction: Aluminum siding; Frame construction; Slab foundation
• Exterior features: Deck; Common lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Breakfast bar; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $142k.

Deal economics

• At list price, monthly cash flow is $77 ($921/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 $134k (5.7% below list).
• Recommended offer: $134k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Taft Middle School (math 60% / reading 63%, grade B+, #179 of 246 statewide, top 73%, 578 students, 38% FRL); Thomas Jefferson High School (math 41% / reading 62%, grade D+, #307 of 336 statewide, top 91%, 1,543 students, 56% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 415 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $982 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Recommended offer $133,894 (5.7% below list)

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 8.8

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: -7.1%
• Equity multiple: 0.72×
• Total profit: $-11,025
• Equity at exit: $21,173

10-year hold

• IRR: 7.8%
• Equity multiple: 1.73×
• Total profit: $28,982
• Equity at exit: $12,278

Cash invested: $39,760 (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 52404

• Rents YoY: 8.8%
• Active inventory: 415
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$745
• Tax from tax record: −$177 /mo · $2,126/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $77

Break-even live

Break-even rent $1,242

Max offer price $142,000

Occupancy floor 89%

Sensitivity live

Price	-10% $157	-5% $117	+0% $77	+5% $37	+10% $-4
Rent	-10% $-29	-5% $24	+0% $77	+5% $130	+10% $183
Rate	-1.0pp $148	-0.5pp $113	base $77	+0.5pp $40	+1.0pp $3

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5830 Greenbriar Ln SW Cedar Rapids, IA	1.0–2.0	1.0	832	$1,400	$1.68	13d	2	0.12mi
5006 Spencer Dr SW Cedar Rapids, IA	3.0	2.5	1498	$1,700	$1.13	14d	1	0.77mi
1225 Jacolyn Dr SW Unit 215 Cedar Rapids, IA	2.0	2.0	870	$1,025	$1.18	44d	1	1.10mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   status $142,000 Pending 13 DOM
2. 2026-06-18
   days on market $142,000 Active 13 DOM
3. 2026-06-17
   days on market $142,000 Active 12 DOM
4. 2026-06-16
   days on market $142,000 Active 11 DOM
5. 2026-06-15
   days on market $142,000 Active 10 DOM
6. 2026-06-14
   days on market $142,000 Active 8 DOM
7. 2026-06-13
   days on market $142,000 Active 7 DOM
8. 2026-06-10
   days on market $142,000 Active 5 DOM
9. 2026-06-09
   days on market $142,000 Active 4 DOM
10. 2026-06-08
    days on market $142,000 Active 3 DOM
11. 2026-06-07
    remarks 3-char remark
12. 2026-06-07
    listed $142,000 Active 2 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: $2,126 · $177/mo
• Projected year-2 tax: $2,178 · $181/mo
• Expected delta: +$52/yr (+$4/mo · 2.4%)

ⓘ 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: $16,067
• − Mortgage interest: −$7,954
• − Property taxes: −$2,126
• − Insurance: −$710
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$4,131
• Taxable loss: −$1,425
• Est. tax savings @ 24.0%: +$342
• After-tax cash flow: $1,263/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): 42,958
• Household income: $61,870
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1041.0

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 (74%)
• Race & ethnicity: White 74% Black 10% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 2% 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: ▼ -154.96%
• Current HPI: 241.81
• Rent YoY: ▲ 8.79%
• 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

+65.1% since first listed

7 events — show timeline

• 2026-06-05 Listed $142,000 ICAARMLS
• 2026-06-05 Listed $142,000 CRAAR, CDRMLS
• 2023-01-16 Sold (Public Records) $127,000 Public Records
• 2022-12-30 Sold (MLS) $127,000 CRAAR, CDRMLS
• 2022-11-23 Pending — CRAAR, CDRMLS
• 2022-11-17 Listed $132,500 CRAAR, CDRMLS
• 2009-02-24 Sold (Public Records) $86,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,126 · +13.6% YoY. Source: county tax records.