1211 22nd Ave Ave SW · Cedar Rapids, IA 52404

$160,000

2 bd · 1.5 ba · 1,166 sqft · SingleFamily public records · 11 Days on market

Built 1950 5,240 sqft lot Est $203k · 21% 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming, well-maintained, and thoughtfully updated home in a convenient southwest Cedar Rapids location. Offering 1 bedroom, 1 bonus room and 1.5 bathrooms, this home provides modern improvements. Recent upgrades provide peace of mind, including new roofs on both the home and the garage, a newer sewer line, and an updated furnace and central air system for year-round comfort. Newer gutters and some updated windows enhance both appearance and energy efficiency. Outside, you'll find a 1-stall garage complemented by a 12' x 22' carport addition, providing extra covered parking or storage. A spacious 9' x 13.6' front deck offers the perfect spot to relax or entertain, while the

Key facts

• New roofs
• Updated windows
• Updated furnace

Tags

• NEW ROOFS
• NEWER SEWER LINE
• UPDATED FURNACE
• CENTRAL AIR SYSTEM
• NEWER GUTTERS
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-16 ($-194/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (15.3% below list).
• Recommended offer: $136k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $86k; list at $160k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,512 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $202,884
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1270 20th Ave SW	0.21mi	2/1.5	1,120 (-4%)	15mo	$80,000	$71	71
807 21st Ave Ave SW	0.33mi	3/1.0 (+1)	1,131 (-3%)	9mo	$170,475	$151	65
648 SW 22nd Ave	0.37mi	3/1.0 (+1)	1,092 (-6%)	0mo	$170,000	$156	65
826 21st Ave SW	0.30mi	3/1.0 (+1)	1,276 (+9%)	5mo	$143,000	$112	59
1806 Holly Meadow Ave SW	0.63mi	3/2.0 (+1)	1,204 (+3%)	4mo	$299,990	$249	55
2504 Linwood St SW	0.54mi	3/1.0 (+1)	1,041 (-11%)	1mo	$185,000	$178	50
2525 SW Linwood St	0.59mi	3/1.0 (+1)	1,086 (-7%)	9mo	$190,000	$175	46
662 19th Ave SW	0.43mi	3/1.0 (+1)	1,302 (+12%)	10mo	$157,000	$121	46
1703 14th Ave SW	0.63mi	3/1.0 (+1)	1,008 (-14%)	2mo	$175,000	$174	40
1503 14th Avenue Ave SW	0.56mi	3/1.0 (+1)	1,276 (+9%)	15mo	$133,000	$104	38
1812 Holly Meadow Ave SW	0.65mi	3/2.0 (+1)	1,336 (+15%)	2mo	$284,900	$213	37
1836 Holly Meadow Ave SW	0.69mi	3/2.0 (+1)	1,336 (+15%)	14mo	$274,990	$206	25

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: -11.6%
• Equity multiple: 0.56×
• Total profit: $-19,787
• Equity at exit: $23,857

10-year hold

• IRR: 3.6%
• Equity multiple: 1.31×
• Total profit: $14,073
• Equity at exit: $13,834

Cash invested: $44,800 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$181 /mo · $2,172/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $-16

Break-even live

Break-even rent $1,376

Max offer price $157,142

Occupancy floor 96%

Sensitivity live

Price	-10% $74	-5% $29	+0% $-16	+5% $-61	+10% $-107
Rent	-10% $-123	-5% $-70	+0% $-16	+5% $37	+10% $91
Rate	-1.0pp $64	-0.5pp $25	base $-16	+0.5pp $-58	+1.0pp $-100

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 C Ave NW Cedar Rapids, IA	3.0	1.5	1446	$1,500	$1.04	15d	1	1.29mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	45d	1	1.35mi
206 3rd Ave SW Cedar Rapids, IA	1.0	1.5	1400	$1,495	$1.07	15d	1	1.35mi

Listing history 4 events

1. 2026-03-06
   status Pending
2. 2026-02-23
   listed $160,000 Active
3. 2006-03-07
   soldstatus $86,500
4. 2004-06-29
   soldstatus $83,000

ⓘ 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: $2,172 · $181/mo
• Projected year-2 tax: $2,342 · $195/mo
• Expected delta: +$170/yr (+$14/mo · 7.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 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: $16,261
• − Mortgage interest: −$8,962
• − Property taxes: −$2,172
• − Insurance: −$800
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$4,655
• Taxable loss: −$2,929
• Est. tax savings @ 24.0%: +$703
• After-tax cash flow: $509/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

+92.8% since first listed

4 events — show timeline

• 2026-03-06 Pending — ICAARMLS
• 2026-02-23 Listed $160,000 ICAARMLS
• 2006-03-07 Sold (Public Records) $86,500 Public Records
• 2004-06-29 Sold (Public Records) $83,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,172 · +2.5% YoY. Source: county tax records.