906 Center Point Rd Rd NE · Cedar Rapids, IA 52402

$135,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 1 Days on market

Built 1922 4,008 sqft lot Est $126k · 7% over

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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 +18.0/30.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• ARV discount +4.3/15.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRING YOUR HAMMER AND PAINT BRUSH TO THIS AFFORDABLE, CUTE AND COZY 2 BEDROOM HOME THAT OFFERS A FULL BASEMENT. THIS HOME HAS A LOT OF POSSIBILITIES. WHETHER YOU ARE JUST STARTING OUT, DOWNSIZING OR LOOKING FOR A RENTAL THIS COULD BE YOUR HOME. LARGE FENCED BACK YARD WITH FIREPIT. CONVENIENTLY LOCATED WITH EASY ACCESS TO I- 380, DANIELS PARK AND MCCLOUD'S RUN. HUD CASE # 161-271813. HUD HOMES ARE SOLD "AS_IS". SELLER DOES RECOMMEND A HOME INSPECTION. ALL OFFERS ARE SUBMITTED ONLINE AT www. HUDHOMESTORE.com PLEASE VISIT www. MMREM.com AND www. HUDHOMESTORE.com FOR ADDITIONAL INFORMATION INCLUDING ATTACHMENTS, DISCLOSURES AND CONTRACT PACKAGES. BUYER WILL NOT RECEIVE A KEY AT CLOSING, AND WILL BE RESPONSIBLE FOR CHANGING THE LOCKS AT THEIR EXPENSE.

Key facts

• Modern kitchen
• Fenced backyard
• Convenient parking

Tags

• CEDAR VALLEY NATURE TRAIL
• DIRECT ACCESS TO PARKS
• BIKING AND WALKING PATHS
• MODERN KITCHEN
• FENCED BACKYARD
• CONVENIENT PARKING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding and frame construction; Block foundation
• Exterior features: Fenced yard

Interior

• Kitchen: Dishwasher, Microwave, Range, Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Dryer, Washer, Dishwasher, Microwave, Range, Refrigerator; Has basement; 6 total rooms
• Laundry & utility: Washer and Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/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 $124k (8.4% below list).
• Recommended offer: $124k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); George Washington High School (math 44% / reading 62%, grade C-, #296 of 336 statewide, top 88%, 1,291 students, 49% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 286 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $933 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $55k; list at $135k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,595 (8.4% below list)

Questions for the listing agent

1. Built in 1922 — 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: 0.92% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.68%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $126,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
923 Oakland Rd NE	0.12mi	2/1.0	836 (-0%)	2mo	$4,201	$5	92
915 Center Point Rd NE	0.03mi	3/1.0 (+1)	784 (-7%)	0mo	$135,000	$172	82
1158 Brown Ave NE	0.14mi	2/1.5	819 (-2%)	10mo	$119,000	$145	79
1051 12th St St NE	0.23mi	2/1.0	816 (-3%)	7mo	$43,500	$53	78
1522 J Ave NE	0.40mi	2/1.0	852 (+1%)	6mo	$127,500	$150	74
1228 Oakland Rd Rd NE	0.42mi	2/1.0	816 (-3%)	4mo	$120,000	$147	73
910 Maplewood Dr Dr NE	0.28mi	2/1.0	780 (-7%)	6mo	$128,000	$164	70
813 Oakland Rd NE	0.23mi	2/1.0	734 (-13%)	2mo	$157,700	$215	67
1613 I Ave	0.36mi	2/1.0	748 (-11%)	4mo	$100,000	$134	62
1612 Greene Ave NE	0.39mi	2/1.0	748 (-11%)	11mo	$138,000	$184	54
1815 E Ave Ave NE	0.62mi	2/1.0	736 (-12%)	5mo	$75,000	$102	46
512 19th St St NE	0.75mi	2/1.0	960 (+14%)	0mo	$174,900	$182	41

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: -5.4%
• Equity multiple: 0.79×
• Total profit: $-7,991
• Equity at exit: $20,129

10-year hold

• IRR: 9.1%
• Equity multiple: 1.85×
• Total profit: $32,167
• Equity at exit: $11,672

Cash invested: $37,800 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,236 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $116

Break-even live

Break-even rent $1,089

Max offer price $135,000

Occupancy floor 86%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 Sierra Dr NE Cedar Rapids, IA	1.0–2.0	1.0–2.0	985	$1,000	$1.02	43d	1	0.55mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	43d	1	1.04mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	13d	6	1.40mi

Listing history 3 events

1. 2026-06-15
   status $135,000 Pending 1 DOM
2. 2026-06-14
   remarks 634-char remark
3. 2026-06-14
   listed $135,000 Active 1 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: $1,156 · $96/mo
• Projected year-2 tax: $1,638 · $136/mo
• Expected delta: +$482/yr (+$40/mo · 41.7%)

ⓘ 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 ≥104°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: $14,831
• − Mortgage interest: −$7,562
• − Property taxes: −$1,156
• − Insurance: −$675
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$3,927
• Taxable loss: −$862
• Est. tax savings @ 24.0%: +$207
• After-tax cash flow: $1,597/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): 42,938
• 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

+134.8% since first listed

5 events — show timeline

• 2026-06-13 Listed $135,000 CRAAR, CDRMLS
• 2023-12-04 Sold (Public Records) $55,000 Public Records
• 2015-12-04 Sold (MLS) $24,500 CRAAR, CDRMLS
• 2015-04-22 Listed $28,600 CRAAR, CDRMLS
• 2004-11-17 Sold (Public Records) $57,500 Public Records

Property tax history

-1.3%/yr

Latest (2025): $1,156 · -17.7% YoY. Source: county tax records.