Homes/Iowa/Cedar Rapids/1515 B Avenue Northwest
CompCasa Property Analysis · single_family

1515 B Avenue Northwest

Updated 2‑Bedroom Bungalow in Cedar Rapids’ Northwest Area

880 SF bungalow with recent mechanical updates and detached garage

2 beds1 baths880 sq ftBuilt 19400.13 acres1-car detached
CompCasa valuation analysis
Estimated market value
$117,500
Low $110,000 · Midpoint $117,500 · High $125,000
Confidence82%Sales comparison approach
Last recorded sale$83,000Mar 1, 2016
Assessed value$117,8002025 assessment
CompCasa estimate$117,500Sep 26, 2026
Estimate vs. last recorded sale+$34,500 / +41.6%
$110,000$117,500 midpoint$125,000
Price / sq ft$134
Median sale price$150,000
Avg days on market45 days
Inventory3 months

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 12 months. Adjusted for size, condition, and age. Assessed value of $117,800 aligns with market estimate.

About the property

Updated 2‑Bedroom Bungalow in Cedar Rapids’ Northwest Area

Built in 1940, this 1.5‑story bungalow offers 880 square feet of living area on a level 0.13‑acre lot in Cedar Rapids’ Northwest neighborhood. The property is owner‑occupied and has documented recent updates — new paint, carpet, appliances, a newer water heater and a newer furnace — that reduce near‑term maintenance needs. A 1‑car detached garage and full basement extend usable space beyond the main floor, while a standard residential driveway and 40‑foot frontage on B Avenue NW provide straightforward street access and parking.

Interior layout is compact and practical: two bedrooms and one bathroom arranged across a modest footprint. Mechanical systems include forced‑air gas heating and central air conditioning; the roof is asphalt shingle construction. The seller’s notes and assessor records list the home in good condition, but the roof age is not documented and a professional inspection is advised to confirm structural and system conditions.

The lot is level and typical for the block, with municipal water and sewer service and utilities supplied by MidAmerican Energy and Alliant Energy. The house includes a full basement that can function as storage or service space. Zoning is R‑3 (Single Family Residential) under City of Cedar Rapids rules, and allowed uses include single‑family occupancy and qualifying home occupations subject to local standards.

Market context near this address is steady: three nearby comparable sales within 0.5 miles closed in the past 12 months and area market data show balanced conditions with an average days‑on‑market near 45 and roughly three months of inventory. The neighborhood’s proximity to schools and downtown — Roosevelt Middle School (0.2 mi), Cleveland Elementary (0.6 mi), Thomas Jefferson High School (0.9 mi), and downtown Cedar Rapids (about 1.5 mi) — supports both owner‑occupant and investor interest. A rental estimate based on local comps suggests monthly rent in the $1,000–$1,200 range; the research record flags the property as owner‑occupied with a low vacancy signal.

This property is positioned as a move‑in ready bungalow with recent mechanical and cosmetic updates and straightforward site access. Recommended next steps for interested parties include confirming lot dimensions and boundaries, verifying that past renovations were permitted, and completing a professional home inspection with specific attention to roof condition and any aging infrastructure.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$122,900
Property address1508 B Ave NW, Cedar Rapids, IA 52405
2 bed1 bath880 sq ftBuilt 19400.1 mi5,663 sq ft lot$140/SF
Sold Sep 15, 2025
Subject difference
  • Same living area
  • Similar lot size
  • Same year built
Research comparison noteSimilar size and age, updated interior
02Sold price$120,000
Property address1512 B Ave NW, Cedar Rapids, IA 52405
2 bed1 bath1,024 sq ftBuilt 19400.05 mi5,586 sq ft lot$117/SF
Sold Aug 10, 2025
Subject difference
  • 144 SF larger
  • Similar lot size
  • Same year built
Research comparison noteSlightly larger, similar condition
03Sold price$122,000
Property address1212 B Ave NW, Cedar Rapids, IA 52405
3 bed1 bath1,512 sq ftBuilt 19150.3 mi4,084 sq ft lot$81/SF
Sold Jul 20, 2025
Subject difference
  • 632 SF larger
  • 1 additional bedroom
  • 1,579 SF smaller lot
  • 25 years older
Research comparison noteLarger home, older construction
Comp methodology: Focused on 2-bedroom homes within 0.5 miles sold or leased in last 12 months for maximum relevance
Property details

A 1940 bungalow on 0.13 acres.

Building

Year built1940
ConstructionFrame
RoofAsphalt Shingle
Heatingforced air gas
Coolingcentral AC

Site & utilities

Lot size0.13 acres
Garage1-car detached
Stories1.5
ConditionGood
BasementFull
FireplaceNo
Improvement notes2 bedrooms, 1 bathroom, updated paint and carpet, newer furnace and water heater
Lot area5,663 sq ft
TopographyLevel
Frontage40 ft frontage on B Avenue NW
ParkingDetached Garage
Parking spaces1
Parking notes1-car detached garage
AccessStandard residential driveway from B Avenue NW
WaterMunicipal
SewerMunicipal
ElectricAlliant Energy
GasMidAmerican Energy
Location & nearby

Northwest Area

Researched nearby locations

Roosevelt Middle School (0.2 mi)
Cleveland Elementary School (0.6 mi)
Thomas Jefferson High School (0.9 mi)
Downtown Cedar Rapids (1.5 mi)
Ellis Park (1.2 mi)

Location

1515 B Avenue Northwest, Cedar Rapids, IA 52405

View in Google Maps
Editorial neighborhood context

The house sits in Cedar Rapids’ Northwest area, a predominantly residential neighborhood with easy access to local schools and parks. Key nearby anchors include Roosevelt Middle School (0.2 miles), Cleveland Elementary (0.6 miles), Thomas Jefferson High School (0.9 miles) and Ellis Park (about 1.2 miles). Downtown Cedar Rapids is roughly 1.5 miles away, providing restaurants, services and regional transit links. The neighborhood is served by the Cedar Rapids Community School District; local school ratings are below average, which some families may weigh when deciding on the area. Overall, the block is steady and walkable for everyday errands and school routes.

Nearby access summary

Nearby outdoor amenities include Ellis Park (approximately 1.2 miles) and other neighborhood parks within short driving distance, providing options for informal recreation and green space.

ElementaryCleveland Elementary School (2/10)
Middle schoolRoosevelt Middle School (3/10)
High schoolThomas Jefferson High School (1/10)
School districtCedar Rapids Community School District
Market context

A factual market snapshot around 1515 B Avenue Northwest.

Median sale price$150,000
Avg days on market45 days
Inventory3 months
1-year appreciation3.0%
5-year appreciation15.0%
Zoning & land use

Single Family Residential

Zoning

Zoning codeR-3
DescriptionSingle Family Residential
JurisdictionCity of Cedar Rapids
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 25', side 5', rear 20'

Research-indicated uses

  • Single Family
  • Home Occupation
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$27,000
Assessed improvements$90,800
Total assessed$117,800
Assessment year2025
Annual property tax$1,714
Tax year2025

Sale history

2016-03-01$83,000 · $94/SF
2015-08-25$42,589 · $48/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$1,200/mo
Property address1508 B Ave NW, Cedar Rapids, IA 52405
2 bed1 bath880 sq ft$1.36/SF
Leased Jun 1, 2025
Subject difference
  • Same living area
Research comparison noteSimilar size and condition
02Monthly rent$1,150/mo
Property address1512 B Ave NW, Cedar Rapids, IA 52405
2 bed1 bath1,024 sq ft$1.12/SF
Leased May 15, 2025
Subject difference
  • 144 SF larger
Research comparison noteSlightly larger, similar condition
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • County assessor shows 2016 purchase at $83,000 ($94/SF) — current estimate $117,500 ($134/SF)
  • Assessed value $117,800 (land $27K, improvements $90.8K) — annual taxes $1,714
  • Zoned R-3 — Single Family Residential
  • 3 comparable sales within 0.5 miles in last 12 months range $110K–$125K
  • Average days on market in area: 45 days (balanced market)

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm lot dimensions and boundaries
  • Verify renovation permits were properly pulled
  • Confirm zoning restrictions and allowable uses
  • Professional home inspection
  • Roof condition assessment
Highlights & features

What stands out about this property.

Interior Features

  • 2 bedrooms
  • 1 bathroom
  • 880 sq ft gross building area
  • Updated paint and carpet
  • Newer appliances
  • Newer water heater
  • Newer furnace
  • Central air conditioning
  • Forced‑air gas heating
  • Full basement
  • 1.5 stories
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Property records for 1515 C Ave NW, Cedar Rapids, IA 52405View source
2
Zillow listing for 1508 B Ave NW, Cedar Rapids, IA 52405View source
3
Realtor.com listing for 1512 B Ave NW, Cedar Rapids, IA 52405View source
4
Realtor.com listing for 1212 B Ave NW, Cedar Rapids, IA 52405View source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.