NOT LISTED FOR SALE

1038 Mount Vernon Rd SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood

Estimated Value: $142,000 - $161,000

4 Beds
2 Baths
768 Sq Ft
$199/Sq Ft Est. Value

Last Sold May 05, 2022

Last sale price $135,000 $176 Per Sq Ft

Est. 13% increase in value since last sale

Current estimated payment $924/month

23 Days on Market

Highlights

  • Living Room
  • Property is near schools
  • Forced Air Heating System

About This Home

As of May 2022

SE up/down duplex close to Mercy Hospital & more! Each unit previously rented for $625 landlord paid gas/water, tenants paid separate electricity. Vacant & easy to show! Perfect property to add to your investment portfolio or for owner-operators. Home could easily be converted back to 4bed 2bath single family. New roof (2020), shared coin laundry in basement. Seller to perform 1031. Verify all schools with Cedar Rapids Community School District.

Last Agent to Sell the Property

Ross Nusser

Urban Acres Real Estate Corridor Listed on: 04/04/2022

Urban Acres Real Estate Corridor

Co-Listed By

Mark Paterno

Urban Acres Real Estate

Last Buyer's Agent

Laurie Whiting

Realty87

Realty87

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,426

Year Built

  • Built in 1909

Lot Details

  • Lot Dimensions are 40 x 140

Parking

  • 2 Parking Spaces

Home Design

  • Frame Construction

Interior Spaces

  • 768 Sq Ft Home
  • Living Room

Kitchen

  • Oven or Range
  • Dishwasher

Laundry

  • Dryer
  • Washer

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction

Location

  • Property is near schools
  • Property is near shops

Schools

  • Johnson Elementary School
  • Mckinley Middle School
  • Washington High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Heating System Mounted To A Wall or Window
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 14223-78002-00000

Community Details

Overview

  • 2 Units
  • Wellington Place 4Th Str/ Subdivision

Building Details

  • Fuel Expense $684
  • Water Sewer Expense $1,296

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,426

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Complete
  • Remarks: SE up/down duplex close to Mercy Hospital & more! Each unit previously rented for $625 landlord paid gas/water, tenants paid separate electricity. Vacant & easy to show! Perfect property to add to your investment portfolio or for owner-operators. Home could easily be converted back to 4bed 2bath single family. New roof (2020), shared coin laundry in basement. Seller to perform 1031. Verify all schools with Cedar Rapids Community School District.
  • Year Built: 1909
  • Subdivision: WELLINGTON PLACE 4TH STR/
  • Rental Permit: Yes
  • Water Annually: 1296
  • Directions: Mt Vernon Rd SE, home on North side of street.
  • Aging In Place Form: No
  • L O1 Dues Paid: y
  • L O2 Dues Paid: y
  • L O3 Dues Paid: y
  • S O1 Dues Paid: y
  • Amenities: Close to School, Close to Shopping
  • Basement Remarks: Block, Full, Unfinished
  • Possession R: Negotiable
  • Possible Finance R: 1031 Exchange, Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dishwasher, Range/Oven, Refrigerator, Dryer, Washer
  • Sq Ft Above: 768
  • Lower Level Sq Ft: 998

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking Spaces: 2 Car

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Gas Annually: 684
  • Heating Cooling: Window/Wall Units, Gas, Forced Air

Condo/Co-op/Association

  • Fees Include: None

Schools

  • High School: Washington
  • Jr Middle School: Mckinley
  • Elementary School: Johnson

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: 40 x 140
  • Zoning: res

Tax Info

  • Assessor Parcel Number: 14223-78002-00000

Multi Family

  • Units Total: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 17, 2024
Sold by
Robinson Herman Tryman Junior
Bought by
Robinson Irrevocable Private Trust
Current Estimated Value
$152,513

Purchase Details

Closed on
Feb 26, 2024
Sold by
Herman Robinson
Bought by
Herman Tryman Robinson Jr Trust

Purchase Details

Listed on
Apr 4, 2022
Closed on
May 2, 2022
Sold by
Iowa Corridor Properties Llc
Bought by
Robinson Herman
Seller's Agent
Ross Nusser
Urban Acres Real Estate Corridor
Buyer's Agent
Laurie Whiting
Realty87
List Price
$135,000
Sold Price
$135,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.49%
Original Mortgage
$121,500
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 18, 2019
Sold by
Johnson Rodney S and Johnson Judy M
Bought by
Iowa Corridor Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
4.1%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
May 20, 1999
Sold by
Smith David John and Smith Pamela M
Bought by
Johnson Rodney S and Johnson Judy M
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Robinson Irrevocable Private Trust -- None Listed On Document
Herman Tryman Robinson Jr Trust -- None Listed On Document
Herman Tryman Robinson Jr Trust -- None Listed On Document
Robinson Herman -- None Listed On Document
Iowa Corridor Properties Llc $75,000 None Available
Johnson Rodney S $19,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Robinson Herman $121,500
Previous Owner Iowa Corridor Properties Llc $75,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/05/2022 05/05/22 Sold $135,000 0.0% $176 / Sq Ft
04/04/2022 04/04/22 For Sale $135,000 -- $176 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,426 $109,100 $25,000 $84,100
2024 $1,702 $99,400 $22,000 $77,400
2023 $1,702 $91,100 $19,000 $72,100
2022 $1,482 $80,700 $19,000 $61,700
2021 $1,512 $71,500 $16,000 $55,500
2020 $1,512 $68,500 $16,000 $52,500
2019 $1,282 $59,500 $14,000 $45,500
2018 $1,248 $59,500 $14,000 $45,500
2017 $1,278 $58,700 $14,000 $44,700
2016 $1,250 $58,800 $14,000 $44,800
2015 $1,244 $58,466 $14,000 $44,466
2014 $1,244 $58,466 $14,000 $44,466
2013 $1,218 $58,466 $14,000 $44,466
Source: Public Records

Agents Affiliated with this Home

  • Ross Nusser

    Seller's Agent in 2022

    Ross Nusser

    Urban Acres Real Estate Corridor

    (319) 331-5206

    9 in this area

    166 Total Sales

    Ross Nusser
    Section Image
  • Mark Paterno

    Seller Co-Listing Agent in 2022

    Mark Paterno

    Urban Acres Real Estate

    (319) 936-7447

    1 in this area

    143 Total Sales

    Mark Paterno
    Section Image
  • Laurie Whiting

    Buyer's Agent in 2022

    Laurie Whiting

    Realty87

    (319) 389-2580

    4 in this area

    149 Total Sales

    Laurie Whiting
    Section Image
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Map

Source: Iowa City Area Association of REALTORS®

MLS Number: 202201911

Iowa City Area Association of REALTORS®

APN: 14223-78002-00000

Iowa Linn County Cedar Rapids 52401 Wellington Heights

1038 Mount Vernon Rd SE, Cedar Rapids, IA

Not Listed for Sale

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Iowa City Area Association of REALTORS® IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing information is deemed reliable, but not guaranteed accurate by the MLS.

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