1111 Harold Dr Dr SE · Cedar Rapids, IA 52403

$165,000

3 bd · 1.5 ba · 1,224 sqft · SingleFamily public records · 4 Days on market

Built 1956 7,405 sqft lot Est $175k · 6% 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 +16.8/30.0
• ARV discount +10.1/15.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1111 Harold Dr SE, a charming home featuring 3 bedrooms, a spacious living room, basement, attached garage, and a nice backyard to enjoy outdoor living. With a functional layout and comfortable living spaces, this home offers plenty of room for everyday living, relaxing, and entertaining. A great opportunity in a convenient SE location.

Key facts

• Nice backyard
• Functional layout
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• NICE BACKYARD
• FUNCTIONAL LAYOUT
• CONVENIENT SE LOCATION

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Attached garage (1 parking space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Frame construction; Full concrete basement
• Exterior features: Public water; Public sewer; Lot approximately 0.17 acres (60 x 120); Residential zoning

Interior

• Kitchen: Dishwasher; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Smoke detector(s)
• Interior features: Central vacuum; Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $106 ($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 $162k (1.7% below list).
• Recommended offer: $162k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Erskine Elementary School (math 52% / reading 52%, grade C-, #494 of 616 statewide, top 83%, 293 students, 0% FRL); Mckinley Steam Academy (math 45% / reading 55%, grade C, #216 of 246 statewide, top 88%, 448 students, 52% 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 (+14.7%/yr); 236 active listings in the ZIP; 2 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $114k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,137 (1.7% below list)

Questions for the listing agent

1. Built in 1956 — 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: 0.98% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $175,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Brockman Dr SE	0.06mi	4/2.0 (+1)	1,257 (+3%)	6mo	$180,000	$143	81
3824 Dalewood Ave SE	0.30mi	3/1.5	1,240 (+1%)	9mo	$140,000	$113	77
1103 30th St	0.42mi	3/2.0	1,214 (-1%)	2mo	$180,000	$148	75
3207 Mound Ave SE	0.43mi	3/2.0	1,198 (-2%)	6mo	$155,675	$130	70
1117 Crestview Dr SE	0.51mi	3/2.0	1,264 (+3%)	7mo	$170,000	$134	63
1101 33rd St St SE	0.27mi	3/1.0	1,088 (-11%)	4mo	$169,500	$156	63
627 32nd St SE	0.48mi	3/1.0	1,172 (-4%)	7mo	$137,000	$117	62
628 34th St SE	0.38mi	3/1.0	1,305 (+7%)	8mo	$213,500	$164	62
651 34th St St SE	0.35mi	3/1.0	1,339 (+9%)	6mo	$152,000	$114	62
1635 31st St St SE	0.60mi	3/1.0	1,135 (-7%)	2mo	$290,000	$256	56
431 30th St SE	0.70mi	3/1.0	1,126 (-8%)	6mo	$150,000	$133	47
1135 Crestview Dr. Dr SE	0.52mi	3/1.5	1,405 (+15%)	6mo	$215,000	$153	46

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: -6.3%
• Equity multiple: 0.75×
• Total profit: $-11,391
• Equity at exit: $24,602

10-year hold

• IRR: 8.7%
• Equity multiple: 1.82×
• Total profit: $37,934
• Equity at exit: $14,266

Cash invested: $46,200 (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 52403

• Rents YoY: 14.7%
• Active inventory: 236
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,621 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$241 /mo · $2,894/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $106

Break-even live

Break-even rent $1,488

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $199	-5% $152	+0% $106	+5% $59	+10% $12
Rent	-10% $-22	-5% $42	+0% $106	+5% $170	+10% $234
Rate	-1.0pp $189	-0.5pp $148	base $106	+0.5pp $63	+1.0pp $19

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4037 Vine Ave SE Cedar Rapids, IA	4.0	2.0	1380	$1,700	$1.23	44d	1	0.31mi
1017 19th St SE Cedar Rapids, IA	3.0	1.0	946	$1,100	$1.16	44d	1	1.41mi

Listing history 6 events

1. 2026-05-30
   status $165,000 Pending 4 DOM
2. 2026-05-25
   listed $165,000 Active 349-char remark

   Show marketing remark (349 chars)

   Welcome to 1111 Harold Dr SE, a charming home featuring 3 bedrooms, a spacious living room, basement, attached garage, and a nice backyard to enjoy outdoor living. With a functional layout and comfortable living spaces, this home offers plenty of room for everyday living, relaxing, and entertaining. A great opportunity in a convenient SE location.

3. 2026-05-25
   listed $165,000 Active

   Show marketing remark (349 chars)

   Welcome to 1111 Harold Dr SE, a charming home featuring 3 bedrooms, a spacious living room, basement, attached garage, and a nice backyard to enjoy outdoor living. With a functional layout and comfortable living spaces, this home offers plenty of room for everyday living, relaxing, and entertaining. A great opportunity in a convenient SE location.

4. 2018-10-02
   soldstatus $114,000
5. 2018-09-28
   soldstatus $114,000 574-char remark

   Show marketing remark (574 chars)

   Open House Sunday - 12:30 to 2:30pm. Cozy 3 bedroom ranch home. Kitchen with dining combination. Hard wood floors in living room and bedrooms. Updated bath room. Newer vinyl windows. Many possibilities for the lower level, currently a recreation room and office area. New home owner could add bedroom in the lower level. Lower level includes walk-out basement as a big bonus to a covered patio and great back yard. All appliance are included. Storage shed in the back yard of home. Sellers reserving rights to remove specific plants marked with orange flags to be relocated.

6. 2018-07-09
   listed $117,000 574-char remark

   Show marketing remark (574 chars)

   Open House Sunday - 12:30 to 2:30pm. Cozy 3 bedroom ranch home. Kitchen with dining combination. Hard wood floors in living room and bedrooms. Updated bath room. Newer vinyl windows. Many possibilities for the lower level, currently a recreation room and office area. New home owner could add bedroom in the lower level. Lower level includes walk-out basement as a big bonus to a covered patio and great back yard. All appliance are included. Storage shed in the back yard of home. Sellers reserving rights to remove specific plants marked with orange flags to be relocated.

ⓘ 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: $2,894 · $241/mo
• Projected year-2 tax: $2,894 · $241/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 4/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,456
• − Mortgage interest: −$9,243
• − Property taxes: −$2,894
• − Insurance: −$825
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$4,800
• Taxable loss: −$1,418
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $1,609/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): 22,551
• Household income: $74,703
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 452.0

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 (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 3% Slovak 3% Portuguese 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -170.15%
• Current HPI: 196.1114
• Rent YoY: ▲ 14.67%
• 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

+41.0% since first listed

5 events — show timeline

• 2026-05-25 Listed $165,000 CRAAR, CDRMLS
• 2026-05-25 Listed $165,000 ICAARMLS
• 2018-10-02 Sold (Public Records) $114,000 Public Records
• 2018-09-28 Sold (MLS) $114,000 CRAAR, CDRMLS
• 2018-07-09 Listed $117,000 CRAAR, CDRMLS

Property tax history

+3.9%/yr

Latest (2025): $2,894 · +10.9% YoY. Source: county tax records.