250 Highland Dr Dr NW · Cedar Rapids, IA 52405

$168,000

3 bd · 1.0 ba · 1,542 sqft · SingleFamily public records · 56 Days on market

Built 1910 7,841 sqft lot $109/sqft · 12% above area Est $187k · 10% under

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Why this score? — see what drove the D+ 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 +12.7/30.0
• ARV discount +12.0/15.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

Key facts

• 7,841 sq ft lot
• 2 parking spots
• Built 1910

Tags

• LARGE LIVING AND DINING ROOM
• PARTIAL FINISH IN LOWER LEVEL
• ADDITIONAL ATTIC FOR STORAGE
• DRIVEWAY AND FRONT ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (13.2% below list).
• Recommended offer: $146k (13.2% 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.
• Market conditions: Rents rising fast (+12.4%/yr); 145 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.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $12k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,827 (13.2% 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. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (median comp): $186,592
• List price: $168,000
• Delta: -9.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Highland Dr Dr NW	0.06mi	3/1.0	1,480 (-4%)	0mo	$159,900	$108	90
1311 Burch Ave Ave NW	0.20mi	3/1.0	1,640 (+6%)	4mo	$180,000	$110	77
1629 C Ave Ave NW	0.18mi	2/2.0 (-1)	1,476 (-4%)	3mo	$245,000	$166	73
1860 E Ave NW	0.43mi	3/1.0	1,600 (+4%)	2mo	$165,000	$103	72
1100 18th St NW	0.56mi	3/1.0	1,563 (+1%)	3mo	$244,000	$156	70
1413 Seminole Ave NW	0.43mi	3/1.0	1,617 (+5%)	4mo	$135,000	$83	69
139 21st St SW	0.47mi	4/1.5 (+1)	1,500 (-3%)	1mo	$166,000	$111	66
2421 10th Ave Ave SW	0.72mi	3/1.5	1,528 (-1%)	1mo	$218,000	$143	62
147 18th St SW	0.29mi	2/1.5 (-1)	1,710 (+11%)	2mo	$150,000	$88	59
1020 A Ave NW	0.39mi	2/1.0 (-1)	1,344 (-13%)	1mo	$125,000	$93	55
1119 18th St St	0.71mi	3/1.0	1,649 (+7%)	1mo	$240,000	$146	54
143 26th St NW	0.68mi	3/1.5	1,356 (-12%)	4mo	$195,500	$144	43

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: -11.5%
• Equity multiple: 0.56×
• Total profit: $-20,571
• Equity at exit: $25,049

10-year hold

• IRR: 3.8%
• Equity multiple: 1.34×
• Total profit: $15,880
• Equity at exit: $14,526

Cash invested: $47,040 (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 52405

• Rents YoY: 12.4%
• Active inventory: 145
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,458 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $-17

Break-even live

Break-even rent $1,480

Max offer price $165,001

Occupancy floor 96%

Sensitivity live

Price	-10% $78	-5% $31	+0% $-17	+5% $-65	+10% $-112
Rent	-10% $-132	-5% $-75	+0% $-17	+5% $41	+10% $98
Rate	-1.0pp $68	-0.5pp $26	base $-17	+0.5pp $-61	+1.0pp $-105

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	14d	1	0.46mi
417 9th St NW Cedar Rapids, IA	3.0	1.0	1061	$1,300	$1.23	44d	1	0.56mi

Listing history 16 events

1. 2026-05-13
   status Pending 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

2. 2026-05-13
   status Pending 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

3. 2026-04-14
   price $168,000 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

4. 2026-04-12
   price $168,000 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

5. 2026-04-06
   price $175,000 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

6. 2026-04-06
   price $175,000 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

7. 2026-03-18
   listed $180,000 Active 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

8. 2026-03-18
   listed $180,000 Active 628-char remark

   Show marketing remark (628 chars)

   If you are looking for the quiet, hidden away neighborhood with low traffic and some yard, we've got the one! This two story is made for you to have the crew over with a large living and dining room! Partial finish in the lower level to offer a little getaway and a whole additional attic for more storage if you need it! Two stall garage and some fun yard entertaining spots as well! Many perennials planted throughout will be popping up this spring and summer! This home is one of the few on the short street with a driveway and front access to the garage! * some photos edited to remove sellers' items while packing.

9. 2016-10-14
   soldstatus $116,000
10. 2016-07-22
    soldstatus $116,000
11. 2016-07-22
    soldstatus $116,000
12. 2016-05-05
    price $117,500
13. 2016-04-14
    listed $116,000
14. 2016-04-12
    listed $117,500
15. 2012-06-18
    listed $124,900
16. 2005-08-03
    soldstatus $118,000

ⓘ 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: $2,616 · $218/mo
• Projected year-2 tax: $2,627 · $219/mo
• Expected delta: +$11/yr (+$1/mo · 0.4%)

ⓘ 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: $17,499
• − Mortgage interest: −$9,411
• − Property taxes: −$2,616
• − Insurance: −$840
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$4,887
• Taxable loss: −$3,055
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $529/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): 26,526
• Household income: $70,123
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 715.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Portuguese 4% Lithuanian 2% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% French/Haitian/Cajun 1% 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: ▼ -137.56%
• Current HPI: 201.6053
• Rent YoY: ▲ 12.37%
• 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

+42.4% since first listed

16 events — show timeline

• 2026-05-13 Pending — ICAARMLS
• 2026-05-13 Pending — CRAAR, CDRMLS
• 2026-04-14 Price Changed $168,000 ICAARMLS
• 2026-04-12 Price Changed $168,000 CRAAR, CDRMLS
• 2026-04-06 Price Changed $175,000 CRAAR, CDRMLS
• 2026-04-06 Price Changed $175,000 ICAARMLS
• 2026-03-18 Listed $180,000 ICAARMLS
• 2026-03-18 Listed $180,000 CRAAR, CDRMLS
• 2016-10-14 Sold (Public Records) $116,000 Public Records
• 2016-07-22 Sold (MLS) $116,000 CRAAR, CDRMLS
• 2016-07-22 Sold (MLS) $116,000 ICAARMLS
• 2016-05-05 Price Changed $117,500 ICAARMLS
• 2016-04-14 Listed $116,000 ICAARMLS
• 2016-04-12 Listed $117,500 CRAAR, CDRMLS
• 2012-06-18 Listed $124,900 ICAARMLS
• 2005-08-03 Sold (Public Records) $118,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,616 · +2.3% YoY. Source: county tax records.