828 8th Ave SW · Cedar Rapids, IA 52404

$119,900

2 bd · 1.5 ba · 1,061 sqft · SingleFamily public records · 7 Days on market

Built 1902 3,049 sqft lot $113/sqft · 11% below area Est $135k · 11% under

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Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +12.6/15.0
• DSCR +8.1/10.0
• 1% rule +6.3/10.0
• 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 MLS

Simply not what you"ll expect! Gorgeous updated 2 bedroom, 1.5 bath ready and waiting, nothing to do but move in! Features include custom built-ins, crown molding, kitchen-dining combo with trayed ceiling and breakfast bar, master suite with full bath, laundry and walk-in closet and much, much more! Convenient location to Veterans Memorial Stadium, Ice Arena, schools, parks, downtown and more! A truly must see.

Key facts

• Master suite
• Kitchen-dining combo
• Custom built-ins

Tags

• CUSTOM BUILT-INS
• CROWN MOLDING
• KITCHEN-DINING COMBO
• TRAYED CEILING
• BREAKFAST BAR
• MASTER SUITE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half to two stories
• Construction: Frame construction with vinyl siding
• Exterior features: Fenced yard; Shed(s) on the property; Lot dimensions approximately 37 x 80

Interior

• Kitchen: Range; Refrigerator; Garbage disposal
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Electric fireplace in the living room; Full basement
• Laundry & utility: Washer and dryer; Laundry located on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.9% 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: Cleveland Elementary School (math 37% / reading 47%, grade F, #563 of 616 statewide, top 93%, 293 students, 69% FRL); Roosevelt Creative Corridor Business Academy (math 36% / reading 47%, grade F, #235 of 246 statewide, top 96%, 510 students, 69% 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 65% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.8%/yr); 415 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $829 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 $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 6y 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 $72k; list at $120k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1902 — 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: 1.13% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.18%
• DSCR: 1.41
• GRM: 7.4

CMA / ARV

• ARV (median comp): $135,107
• List price: $119,900
• Delta: -11.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 8th St St SW	0.14mi	2/1.0	1,040 (-2%)	7mo	$133,500	$128	82
716 9th St St	0.03mi	2/1.0	972 (-8%)	2mo	$153,500	$158	81
804 SW N St	0.38mi	2/1.5	1,095 (+3%)	1mo	$42,250	$39	76
810 3rd Ave SW	0.21mi	2/1.0	1,118 (+5%)	6mo	$75,000	$67	74
452 8th Ave SW	0.22mi	3/1.0 (+1)	975 (-8%)	1mo	$82,950	$85	69
517 2nd St SW	0.54mi	2/1.0	1,052 (-1%)	5mo	$155,000	$147	67
1221 A Ave	0.45mi	2/1.0	972 (-8%)	0mo	$19,000	$20	63
807 N St SW	0.40mi	3/1.5 (+1)	1,142 (+8%)	7mo	$132,000	$116	58
514 9th St St NW	0.64mi	2/2.0	1,176 (+11%)	1mo	$185,000	$157	49
714 East Ave NW	0.67mi	3/1.0 (+1)	965 (-9%)	7mo	$305,000	$316	41
280 14th Ave Ave SW	0.67mi	3/1.0 (+1)	950 (-10%)	6mo	$101,500	$107	40
1244 19 Ave Ave SW	0.68mi	2/2.0	905 (-15%)	4mo	$158,500	$175	38

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $4,060
• Equity at exit: $17,877

10-year hold

• IRR: 16.8%
• Equity multiple: 2.70×
• Total profit: $57,080
• Equity at exit: $10,367

Cash invested: $33,572 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$131 /mo · $1,568/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $257

Break-even live

Break-even rent $1,025

Max offer price $119,900

Occupancy floor 76%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 3rd Ave SW Cedar Rapids, IA	1.0	1.5	1400	$1,495	$1.07	13d	1	0.52mi
1001 C Ave NW Cedar Rapids, IA	3.0	1.5	1446	$1,500	$1.04	13d	1	0.53mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	43d	1	0.55mi

Listing history 17 events

1. 2026-05-19
   status Active 481-char remark
2. 2026-05-05
   status Pending 481-char remark
3. 2026-05-02
   listed $119,900 Active 481-char remark
4. 2026-04-26
   historical $1,250
5. 2026-04-21
   listed $1,250
6. 2025-12-09
   price $119,900
7. 2025-04-22
   historical $1,200
8. 2025-04-17
   listed $1,200
9. 2025-04-10
   historical $1,200
10. 2025-03-25
    listed $1,200
11. 2024-01-06
    historical $1,100
12. 2023-12-28
    listed $1,100
13. 2022-12-08
    historical
14. 2021-02-05
    soldstatus $71,500
15. 2021-01-28
    soldstatus $71,250

    Show marketing remark (420 chars)

    Simply not what you"ll expect! Gorgeous updated 2 bedroom, 1.5 bath ready and waiting, nothing to do but move in! Features include custom built-ins, crown molding, kitchen-dining combo with trayed ceiling and breakfast bar, master suite with full bath, laundry and walk-in closet and much, much more! Convenient location to Veterans Memorial Stadium, Ice Arena, schools, parks, downtown and more! A truly must see.

16. 2020-12-18
    listed $65,000

    Show marketing remark (420 chars)

    Simply not what you"ll expect! Gorgeous updated 2 bedroom, 1.5 bath ready and waiting, nothing to do but move in! Features include custom built-ins, crown molding, kitchen-dining combo with trayed ceiling and breakfast bar, master suite with full bath, laundry and walk-in closet and much, much more! Convenient location to Veterans Memorial Stadium, Ice Arena, schools, parks, downtown and more! A truly must see.

17. 2008-03-07
    soldstatus $50,000

ⓘ 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: $1,568 · $131/mo
• Projected year-2 tax: $1,725 · $144/mo
• Expected delta: +$157/yr (+$13/mo · 10.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,194
• − Mortgage interest: −$6,716
• − Property taxes: −$1,568
• − Insurance: −$600
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$3,488
• Taxable income: $1,231
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $2,785/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

+139.8% since first listed

18 events — show timeline

• 2026-05-22 Pending — CRAAR, CDRMLS
• 2026-05-19 Relisted — CRAAR, CDRMLS
• 2026-05-05 Pending — CRAAR, CDRMLS
• 2026-05-02 Listed $119,900 CRAAR, CDRMLS
• 2026-04-26 Rental Removed $1,250 APPFOLIO
• 2026-04-21 Listed for Rent $1,250 APPFOLIO
• 2025-12-09 Price Changed $119,900 CRAAR, CDRMLS
• 2025-04-22 Rental Removed $1,200 APPFOLIO
• 2025-04-17 Listed for Rent $1,200 APPFOLIO
• 2025-04-10 Rental Removed $1,200 APPFOLIO
• 2025-03-25 Listed for Rent $1,200 APPFOLIO
• 2024-01-06 Rental Removed $1,100 APPFOLIO
• 2023-12-28 Listed for Rent $1,100 APPFOLIO
• 2022-12-08 Rental Removed — APPFOLIO
• 2021-02-05 Sold (Public Records) $71,500 Public Records
• 2021-01-28 Sold (MLS) $71,250 CRAAR, CDRMLS
• 2020-12-18 Listed $65,000 CRAAR, CDRMLS
• 2008-03-07 Sold (Public Records) $50,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,568 · +2.3% YoY. Source: county tax records.