2542 Indiana St SW · Cedar Rapids, IA 52404

$134,900

3 bd · 1.0 ba · 845 sqft · SingleFamily public records

Built 1954 Est $129k · at est.

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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 +23.1/30.0
• DSCR +7.4/10.0
• 1% rule +6.1/10.0
• ARV discount +5.5/15.0
• 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

Clean, functional 3-bedroom ranch with attached garage on the SW side of Cedar Rapids. This single-level home features durable LVP flooring throughout, a practical layout, and a fenced yard. The kitchen offers ample cabinet space and includes appliances, while the bathroom has an updated tiled tub surround. All bedrooms are located on the main level, making the layout efficient and easy to live in. The home includes an attached one-car garage and slab foundation, with convenient access to nearby schools, shopping, and major routes. Property is currently tenant-occupied, with tenants scheduled to vacate by July 1, allowing flexibility for an owner-occupant move-in or continued use as a renta

Key facts

• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.5% 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: Rents rising fast (+8.8%/yr); 415 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 ~8 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $115k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1954 — 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: 1.11% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $129,285
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2430 Linwood St SW	0.13mi	3/1.0	845 (0%)	3mo	$140,000	$166	91
401 28 Ave SW	0.25mi	3/1.0	932 (+10%)	7mo	$143,000	$153	66
642 19th Ave Ave SW	0.52mi	2/1.0 (-1)	812 (-4%)	11mo	$92,500	$114	55
123 24th Ave Ave SW	0.55mi	2/1.0 (-1)	816 (-3%)	12mo	$135,000	$165	53
1426 N St SW	0.73mi	2/1.0 (-1)	864 (+2%)	5mo	$124,250	$144	53
1137 18th Ave SW	0.75mi	3/1.0	884 (+5%)	10mo	$120,000	$136	50
629 21st Ave Ave SW	0.35mi	2/1.0 (-1)	958 (+13%)	12mo	$66,000	$69	46
945 19th Ave SW	0.62mi	2/1.0 (-1)	792 (-6%)	13mo	$136,900	$173	45
2448 1st Street St SW	0.57mi	2/1.5 (-1)	782 (-8%)	14mo	$82,500	$105	42
218 19th Ave	0.66mi	3/1.0	947 (+12%)	13mo	$165,000	$174	38
938 18th Avenue Ave SW	0.69mi	2/1.0 (-1)	760 (-10%)	13mo	$92,500	$122	35
1811 SW K St	0.60mi	2/1.0 (-1)	720 (-15%)	14mo	$173,000	$240	31

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,551
• Equity at exit: $20,114

10-year hold

• IRR: 15.2%
• Equity multiple: 2.52×
• Total profit: $57,437
• Equity at exit: $11,664

Cash invested: $37,772 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$178 /mo · $2,138/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $243

Break-even live

Break-even rent $1,192

Max offer price $134,900

Occupancy floor 79%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 4th Ave SW Unit 612 Upper Cedar Rapids, IA	2.0	1.0	616	$2,000	$3.25	21d	1	1.28mi

Listing history 7 events

1. 2026-05-26
   listed $134,900
2. 2025-01-27
   soldstatus $115,000
3. 2020-03-20
   listed $110,000
4. 2019-12-11
   listed $115,000
5. 2019-07-26
   soldstatus $64,000
6. 2019-06-04
   listed $64,900
7. 2019-01-18
   listed $64,000

ⓘ 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: $2,138 · $178/mo
• Projected year-2 tax: $2,138 · $178/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 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: $17,993
• − Mortgage interest: −$7,556
• − Property taxes: −$2,138
• − Insurance: −$674
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$3,924
• Taxable income: $820
• Est. tax owed @ 24.0%: −$197
• After-tax cash flow: $2,716/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

+110.8% since first listed

7 events — show timeline

• 2026-05-26 Listed $134,900 FSBO.com
• 2025-01-27 Sold (Public Records) $115,000 Public Records
• 2020-03-20 Listed $110,000 CRAAR, CDRMLS
• 2019-12-11 Listed $115,000 CRAAR, CDRMLS
• 2019-07-26 Sold (MLS) $64,000 CRAAR, CDRMLS
• 2019-06-04 Listed $64,900 CRAAR, CDRMLS
• 2019-01-18 Listed $64,000 CRAAR, CDRMLS

Property tax history

+2.4%/yr

Latest (2025): $2,138 · +11.7% YoY. Source: county tax records.