1601 N St · Cedar Rapids, IA 52404

$110,000

2 bd · 1.0 ba · 975 sqft · SingleFamily public records · 5 Days on market

Built 1890 6,534 sqft lot Est $152k · 28% under

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Why this score? — see what drove the C 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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.0/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1601 N St SW in Cedar Rapids, a charming 2-bedroom, 1-bath home offering comfort, functionality, and valuable updates, including new water lines installed last year. Enjoy outdoor living on the deck, while the impressive 2-stall heated garage with a wood-burning stove provides the perfect space for parking, projects, or hobbies year-round. This property is a great opportunity with practical features and everyday convenience.

Key facts

• Heated garage
• New water lines
• Outdoor living

Tags

• NEW WATER LINES
• OUTDOOR LIVING
• HEATED GARAGE
• WOOD BURNING STOVE

Property features AI

Exterior

• Parking: Detached heated garage with garage door opener (2 car spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Deck; Fenced yard; Shed

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Total of 5 rooms (bedroom count not specified separately)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Window/wall air conditioning units
• Interior features: Wood-burning stove fireplace; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• 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: Grant Elementary School (math 37% / reading 32%, grade F, #595 of 616 statewide, top 97%, 320 students, 72% FRL); Wilson Middle School (math 42% / reading 49%, grade D+, #231 of 246 statewide, top 94%, 395 students, 72% FRL); Thomas Jefferson High School (math 41% / reading 62%, grade D+, #307 of 336 statewide, top 91%, 1,543 students, 56% FRL) — zoned schools average 67% FRL vs 43% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.8%/yr); 419 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $761 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1890 — 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. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $152,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
280 14th Ave Ave SW	0.26mi	3/1.0 (+1)	950 (-3%)	6mo	$101,500	$107	74
452 8th Ave SW	0.51mi	3/1.0 (+1)	975 (0%)	1mo	$82,950	$85	71
1426 N St SW	0.14mi	2/1.0	864 (-11%)	5mo	$124,250	$144	70
716 9th St St	0.65mi	2/1.0	972 (-0%)	2mo	$153,500	$158	68
657 16th Ave Ave SW	0.32mi	1/1.0 (-1)	864 (-11%)	4mo	$64,000	$74	58
192 15th Ave SW	0.40mi	2/1.0	836 (-14%)	2mo	$170,000	$203	56
2504 Linwood St SW	0.59mi	3/1.0 (+1)	1,041 (+7%)	1mo	$185,000	$178	56
804 SW N St	0.45mi	2/1.5	1,095 (+12%)	1mo	$42,250	$39	56
648 SW 22nd Ave	0.45mi	3/1.0 (+1)	1,092 (+12%)	0mo	$170,000	$156	54
517 2nd St SW	0.71mi	2/1.0	1,052 (+8%)	5mo	$155,000	$147	49
186 22nd Ave Ave SW	0.60mi	3/1.5 (+1)	1,063 (+9%)	4mo	$182,000	$171	47
2430 Linwood St SW	0.53mi	3/1.0 (+1)	845 (-13%)	3mo	$140,000	$166	45

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-6,272
• Equity at exit: $16,401

10-year hold

• IRR: 9.7%
• Equity multiple: 1.92×
• Total profit: $28,477
• Equity at exit: $9,511

Cash invested: $30,800 (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 52404

• Rents YoY: 8.8%
• Active inventory: 419
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,101 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$157 /mo · $1,886/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $90

Break-even live

Break-even rent $987

Max offer price $110,000

Occupancy floor 87%

Sensitivity live

Price	-10% $152	-5% $121	+0% $90	+5% $58	+10% $27
Rent	-10% $3	-5% $46	+0% $90	+5% $133	+10% $177
Rate	-1.0pp $145	-0.5pp $118	base $90	+0.5pp $61	+1.0pp $32

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 16th Ave SW Cedar Rapids, IA	1.0	1.0	595	$850	$1.43	45d	2	0.30mi
612 4th Ave SW Unit 612 Upper Cedar Rapids, IA	2.0	1.0	616	$2,000	$3.25	22d	1	0.70mi
400 2nd St SW Cedar Rapids, IA	1.0	1.0	615	$1,195	$1.94	22d	1	0.76mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	45d	1	1.16mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,300	$1.46	14d	6	1.48mi

Listing history 10 events

1. 2026-06-21
   days on market $110,000 Active 5 DOM
2. 2026-06-19
   days on market $110,000 Active 3 DOM
3. 2026-06-18
   price $110,000 Active 2 DOM
4. 2026-06-18
   days on market $125,000 Active 2 DOM
5. 2026-06-16
   pricedays on marketlisting id $125,000 Active 1 DOM
6. 2026-06-16
   days on market $120,000 Active 6 DOM
7. 2026-06-15
   days on market $120,000 Active 5 DOM
8. 2026-06-14
   days on market $120,000 Active 3 DOM
9. 2026-06-13
   remarks 439-char remark
10. 2026-06-13
    listed $120,000 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: $1,886 · $157/mo
• Projected year-2 tax: $1,886 · $157/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $13,207
• − Mortgage interest: −$6,162
• − Property taxes: −$1,886
• − Insurance: −$550
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$3,200
• Taxable loss: −$704
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $1,244/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

1 event — show timeline

• 2026-06-10 Listed $120,000 CRAAR, CDRMLS

Property tax history

+1.0%/yr

Latest (2025): $1,886 · -0.6% YoY. Source: county tax records.