1249 3rd Ave SE Cedar Rapids, IA 52403
Wellington Heights NeighborhoodEstimated payment $1,028/month
Highlights
- Cooling System Mounted To A Wall/Window
- Heating Available
- 3-minute walk to Wellington Park
- Wood Siding
About This Home
This investment property is a five-unit multifamily building (5-plex) consisting of five one-bedroom units. Two of the units are equipped with in-unit laundry, while the remaining three tenants have access to a common laundry area located in the basement. The property has a solid rental history, with consistent occupancy and reliable tenants. The last city inspection was completed in July 2024, ensuring compliance with local housing codes and regulations. Each unit pays their own electric. Owner pays trash, water and common area electric.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,820
Year Built
- Built in 1900
Lot Details
- 5,619 Sq Ft Lot
- Lot Dimensions are 40x140
Home Design
- Frame Construction
- Wood Siding
Interior Spaces
- 2,776 Sq Ft Home
- Basement Fills Entire Space Under The House
Schools
- Johnson Elementary School
- Mckinley Middle School
- Washington High School
Utilities
- Cooling System Mounted To A Wall/Window
- Heating Available
Community Details
- 5 Units
- Gross Income $45,000
Listing and Financial Details
- The owner pays for electricity, water
- Assessor Parcel Number 142232600500000
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,820 | $107,300 | $22,000 | $85,300 |
| 2024 | $1,698 | $104,900 | $22,000 | $82,900 |
| 2023 | $1,698 | $102,900 | $20,000 | $82,900 |
| 2022 | $316 | $80,500 | $16,000 | $64,500 |
| 2021 | $1,840 | $80,500 | $16,000 | $64,500 |
| 2020 | $1,840 | $69,700 | $10,000 | $59,700 |
| 2019 | $1,604 | $56,500 | $10,000 | $46,500 |
| 2018 | $1,676 | $56,500 | $10,000 | $46,500 |
| 2017 | $1,826 | $57,900 | $10,000 | $47,900 |
| 2016 | $1,908 | $57,900 | $10,000 | $47,900 |
| 2015 | $2,606 | $75,847 | $10,000 | $65,847 |
| 2014 | $2,606 | $76,672 | $9,072 | $67,600 |
| 2013 | $2,788 | $76,672 | $9,072 | $67,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/09/2026 01/09/26 | Pending | -- | -- | -- | |
| 12/15/2025 12/15/25 | Price Changed | $165,000 | -2.9% | $59 / Sq Ft | |
| 11/24/2025 11/24/25 | Price Changed | $170,000 | -4.5% | $61 / Sq Ft | |
| 11/20/2025 11/20/25 | Price Changed | $178,000 | -1.1% | $64 / Sq Ft | |
| 10/28/2025 10/28/25 | Price Changed | $180,000 | -2.7% | $65 / Sq Ft | |
| 09/04/2025 09/04/25 | Price Changed | $185,000 | -5.1% | $67 / Sq Ft | |
| 08/29/2025 08/29/25 | Price Changed | $195,000 | -2.5% | $70 / Sq Ft | |
| 08/26/2025 08/26/25 | Price Changed | $200,000 | -2.4% | $72 / Sq Ft | |
| 08/25/2025 08/25/25 | Price Changed | $205,000 | -2.4% | $74 / Sq Ft | |
| 08/06/2025 08/06/25 | Price Changed | $210,000 | -6.7% | $76 / Sq Ft | |
| 07/14/2025 07/14/25 | Price Changed | $225,000 | -2.2% | $81 / Sq Ft | |
| 06/21/2025 06/21/25 | Price Changed | $230,000 | -4.2% | $83 / Sq Ft | |
| 06/04/2025 06/04/25 | Price Changed | $240,000 | -2.0% | $86 / Sq Ft | |
| 06/01/2025 06/01/25 | Price Changed | $245,000 | -3.9% | $88 / Sq Ft | |
| 05/22/2025 05/22/25 | For Sale | $255,000 | +328.6% | $92 / Sq Ft | |
| 07/06/2021 07/06/21 | Sold | $59,500 | -0.7% | $21 / Sq Ft | View Prior Sale |
| 04/01/2021 04/01/21 | Pending | -- | -- | -- | |
| 04/01/2021 04/01/21 | For Sale | $59,900 | +71.1% | $22 / Sq Ft | |
| 03/01/2012 03/01/12 | Sold | $35,000 | 0.0% | $13 / Sq Ft | View Prior Sale |
| 03/01/2012 03/01/12 | Sold | $35,000 | -22.0% | $13 / Sq Ft | View Prior Sale |
| 02/20/2012 02/20/12 | Pending | -- | -- | -- | |
| 02/20/2012 02/20/12 | Pending | -- | -- | -- | |
| 02/05/2012 02/05/12 | For Sale | $44,900 | -25.0% | $16 / Sq Ft | |
| 12/09/2010 12/09/10 | For Sale | $59,900 | -- | $22 / Sq Ft |
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2503728
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