$229,500
$20K PRICE DROP

116 15th St NE Cedar Rapids, IA 52402

Mound View Neighborhood

Estimated payment $1,428/month

Total Views 10,334
-- Bed
-- Bath
3,565 Sq Ft
$64 Price per Sq Ft

Highlights

  • No HOA
  • Forced Air Heating and Cooling System
  • 5-minute walk to Central Park
  • Home Security System
  • Fenced

About This Home

Loads of potential in this Cedar Rapids multiplex. The main floor offers 2 commercial spaces with an office, store front, storage and a single bathroom each. These units could be converted into residential rental units if needed. 2 main floor commercial units are currently vacant. Upstairs offers 2 separate 3-bedroom, 1-bathroom units. Each unit is fully furnished and furnishings are included. The upstairs units are currently rented by the single room and the units share the kitchen, living space. Current tenants are short-term contracts that can be extended if a new buyer chooses or the units could be rented as 2 separate 3-bedroom units. There are 4 updated HVAC units for each of the 2 commercial spaces and the 2 rental units upstairs. Updates include newer vinyl siding, windows and roof.

Listing Agent

Jeremy Trenkamp

Realty87 Listed on: 03/04/2025

Realty87

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,927

Year Built

  • Built in 1913

Lot Details

  • 2,483 Sq Ft Lot
  • Fenced

Home Design

  • Frame Construction
  • Vinyl Siding
  • Masonry
  • Stucco

Interior Spaces

  • 3,565 Sq Ft Home
  • Basement Fills Entire Space Under The House
  • Home Security System

Schools

  • Trailside Elementary School
  • Franklin Middle School
  • Washington High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • Assessor Parcel Number 142221301000000

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Building Details

  • Operating Expense $688
  • Gross Income $3,877
  • Net Operating Income $3,189

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,927

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Property Type: Residential
  • Zoning: Comm
  • Property Sub-Type: Multi Family
  • Lot Size Acres: 0.057
  • ResoSecurityFeatures: Security System
  • Co List Office Phone: 319-731-2000
  • MLS Status: Active
  • Directions: 15th St North off 1st Ave
  • Year Built: 1913
  • Property Sub Type Additional: Multi Family
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Type: Frame, Masonry, Stucco, Vinyl Siding
  • Exterior Features: Fence

Utilities

  • Utilities: Separate Meters
  • Sewer: Public Sewer
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air, Gas
  • HeatingYN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Trailside
  • High School: Washington
  • Middle Or Junior School: Franklin

Lot Info

  • Lot Dimensions: .057 Acre
  • ResoLotSizeUnits: Acres
  • Parcel Number: 142221301000000
  • Zoning Description: Comm

Rental Info

  • Owner Pays: Electricity, Gas, Water

Multi Family

  • Gross Income: 3877.0
  • Net Operating Income: 3189.0
  • Number Of Units Total: 8
  • Annual Operating Expense: 688.0

Tax Info

  • Tax Annual Amount: 1927.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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
2023 $2,316 $106,400 $7,500 $98,900
2022 $2,458 $109,800 $7,500 $102,300
2021 $2,334 $109,800 $7,500 $102,300
2020 $2,334 $97,200 $7,500 $89,700
2019 $2,394 $93,825 $4,125 $89,700
2018 $1,346 $93,825 $4,125 $89,700
2017 $1,392 $40,500 $7,500 $33,000
2016 $1,392 $40,500 $7,500 $33,000
2015 $1,036 $98,051 $7,500 $90,551
2014 $2,364 $98,968 $7,500 $91,468
2013 $2,852 $98,968 $7,500 $91,468
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/10/2025 07/10/25 Price Changed $229,500 -8.2% $64 / Sq Ft
03/04/2025 03/04/25 For Sale $249,900 -- $70 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- None Available
Warranty Deed $62,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $160,000 Adjustable Rate Mortgage/ARM
Closed $61,500 Unknown
Closed $55,000 Unknown
Source: Public Records

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2501372

Cedar Rapids Area Association of REALTORS®

APN: 14222-13010-00000

Iowa Linn County Cedar Rapids 52402 Mound View

116 15th St NE, Cedar Rapids, IA

This home is located at 116 15th St NE, Cedar Rapids, IA 52402 and is currently priced at $229,500, approximately $64 per square foot. This property was built in 1913. 116 15th St NE is a home located in Linn County with nearby schools including Garfield Elementary School, Franklin Middle School, and George Washington High School.

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.

Cedar Rapids Area Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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Jeremy Trenkamp
Listing Agent
Jeremy Trenkamp
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Realty87
(319) 308-3187