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.
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.
See the properties helping shape the valuation.
Comparable sales
- Same living area
- Similar lot size
- Same year built
- 144 SF larger
- Similar lot size
- Same year built
- 632 SF larger
- 1 additional bedroom
- 1,579 SF smaller lot
- 25 years older
A 1940 bungalow on 0.13 acres.
Building
Site & utilities
Northwest Area
Researched nearby locations
Location
1515 B Avenue Northwest, Cedar Rapids, IA 52405
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 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.
A factual market snapshot around 1515 B Avenue Northwest.
Single Family Residential
Zoning
Research-indicated uses
- Single Family
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- Same living area
- 144 SF larger
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
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
Sources & research confidence.
See where the property research came from and how confidence varies by field.