905 12th St St NE · Cedar Rapids, IA 52402

$79,500

1 bd · 1.0 ba · 640 sqft · SingleFamily public records · 2 Days on market

Built 1920 5,227 sqft lot Est $102k · 22% 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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity! This 2-bedroom, 1-bath home offers strong potential in a convenient located near I-380 on the NE side of Cedar Rapids. Current owner has had this as a rental property for the past 26 years; this home is priced $9,800 below assessed value and is ready for its next owner. The property needs a little love but offers newer carpet, low-maintenance vinyl siding, a roof that is only 4 years old, 9 newer windows, and a detached 1-stall garage. Whether you're looking to add to your rental portfolio, renovate and resell, or build equity through improvements, this home is a great value. The home is being sold strictly as-is, and the seller will make no repairs. All appliances an

Key facts

• 9 newer windows
• Newer carpet
• 5,227 sq ft lot

Tags

• NEWER CARPET
• LOW-MAINTENANCE VINYL SIDING
• ROOF THAT IS ONLY 4 YEARS OLD
• 9 NEWER WINDOWS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Pets allowed; Lot dimensions approximately 40 x 40

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Full basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $80k).
• Cap rate 7.9% 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: Pierce Elementary School (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 326 students, 35% FRL); Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); John F Kennedy High School (math 63% / reading 77%, grade B+, #146 of 336 statewide, top 45%, 1,714 students, 31% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 286 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).
• This rent is only 14% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,500

Questions for the listing agent

1. Built in 1920 — 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: 1.08% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $101,760
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
854 12th St NE	0.12mi	2/2.0 (+1)	662 (+3%)	9mo	$98,000	$148	73
829 14th St NE	0.34mi	2/1.5 (+1)	616 (-4%)	1mo	$136,000	$221	70
928 12th St NE	0.05mi	2/1.0 (+1)	720 (+12%)	17mo	$127,000	$176	57
813 Oakland Rd NE	0.29mi	2/1.0 (+1)	734 (+15%)	2mo	$157,700	$215	55
1310 NE M Ave	0.49mi	2/1.0 (+1)	622 (-3%)	19mo	$49,000	$79	52
1032 Maplewood Dr. Dr NE	0.41mi	2/1.0 (+1)	711 (+11%)	8mo	$129,500	$182	51
1143 Center Point Rd NE	0.34mi	2/1.0 (+1)	680 (+6%)	21mo	$129,900	$191	51
420 16th St NE	0.61mi	2/1.0 (+1)	692 (+8%)	7mo	$72,500	$105	47
1021 16th St St NE	0.43mi	2/2.0 (+1)	693 (+8%)	14mo	$110,000	$159	46
885 14th St NE	0.29mi	2/1.0 (+1)	712 (+11%)	21mo	$107,000	$150	45
1815 E Ave Ave NE	0.72mi	2/1.0 (+1)	736 (+15%)	5mo	$75,000	$102	33

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,322
• Equity at exit: $11,854

10-year hold

• IRR: 13.0%
• Equity multiple: 2.29×
• Total profit: $28,637
• Equity at exit: $6,874

Cash invested: $22,260 (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: 7.7×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$120 /mo · $1,434/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $110

Break-even live

Break-even rent $721

Max offer price $79,500

Occupancy floor 82%

Sensitivity live

Price	-10% $155	-5% $132	+0% $110	+5% $87	+10% $65
Rent	-10% $42	-5% $76	+0% $110	+5% $144	+10% $178
Rate	-1.0pp $150	-0.5pp $130	base $110	+0.5pp $89	+1.0pp $68

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: $19,875
• Closing costs: $2,385
• 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	$625	$0.63	44d	1	0.49mi
1414 Oakland Rd NE #5 Cedar Rapids, IA	1.0	1.0	494	$795	$1.61	14d	1	0.55mi
906 10th St SE Cedar Rapids, IA	1.0–2.0	1.0–2.0	890	$1,100	$1.24	14d	6	1.44mi

Listing history 4 events

1. 2026-06-17
   status $79,500 Pending 2 DOM
2. 2026-06-16
   days on market $79,500 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $79,500 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: $1,434 · $120/mo
• Projected year-2 tax: $1,434 · $120/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 ≥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: $10,318
• − Mortgage interest: −$4,453
• − Property taxes: −$1,434
• − Insurance: −$398
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$2,313
• Taxable income: $70
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $1,300/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

1 event — show timeline

• 2026-06-14 Listed $79,500 CRAAR, CDRMLS

Property tax history

+1.4%/yr

Latest (2025): $1,434 · +2.3% YoY. Source: county tax records.