$180,000
$75K PRICE DROP

1249 3rd Ave SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood

Estimated payment $1,094/month

Total Views 13,224
-- Bed
-- Bath
2,776 Sq Ft
$65 Price per Sq Ft

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.

Listing Agent

Beth Mackey

Realty87 Listed on: 05/22/2025

Realty87

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,820

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Lot Size Acres: 0.129
  • Co List Office Phone: 319-378-8760
  • MLS Status: Active
  • Directions: 1st Ave to S on 19th, W on 3rd
  • Year Built: 1900
  • Property Sub Type Additional: Multi Family
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Type: Frame, Wood Siding

Garage/Parking

  • Parking Features: Parking Space(s)

Utilities

  • Utilities: Separate Meters
  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Electric
  • HeatingYN: Yes
  • Water Source: Public

Schools

  • Elementary School: Johnson
  • High School: Washington
  • Middle Or Junior School: McKinley

Lot Info

  • Lot Dimensions: 40x140
  • ResoLotSizeUnits: Acres
  • Parcel Number: 142232600500000

Rental Info

  • Owner Pays: Electricity, Water

Multi Family

  • Gross Income: 45000.0
  • Number Of Units Total: 5
  • Tenant Pays: Electricity

Tax Info

  • Tax Annual Amount: 1820.0

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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
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®

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2503728

Cedar Rapids Area Association of REALTORS®
Iowa Linn County Cedar Rapids 52403 Wellington Heights

1249 3rd Ave SE, Cedar Rapids, IA

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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Listing Agent
Beth Mackey
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Realty87
(319) 406-3151