Investing in Linn County
Linn County covers 2 rental markets we actively finance in Iowa — Cedar Rapids, Marion. Across those markets the median investment basis averages $230,000, a long-term lease averages $1,413/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $1,665. That produces a county-wide average DSCR ratio near 0.85x.
Basis varies more inside Linn County than the average suggests. Cedar Rapids is the lowest entry point at roughly $215,000, while Cedar Rapids currently models the strongest coverage ratio in the county at 0.92x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.