NOT LISTED FOR SALE

1401 Bever Ave SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood

Estimated Value: $58,000 - $64,000

4 Beds
2 Baths
1,561 Sq Ft
$39/Sq Ft Est. Value

Last Sold July 01, 2024

Last sale price $65,000 $42 Per Sq Ft

Est. 6% decrease in value since last sale

Current estimated payment $380/month

10 Days on Market

About This Home

As of July 2024

Great Cash Flow Investment Opportunity for the price - Upper and Lower Unit- Each unit with two bedrooms with 1 bath. Main/lower level unit can utilize the basement for additional storage. 1 year old furnace. New Window Air for each unit. Only the upper level is rented currently for $700.00 per month. Lower level Tenant just vacated the property first week of May. Lower level unit was rented for $1,000 per month. Property Sold AS IS CONDITION. Any inspections are for buyers knowledge only. Tenants pays electricity. Landlord pays for gas & water. Need 24 hr notice for all showing request please.

Last Agent to Sell the Property

Tracy Engelbart

REAL ESTATE AMERICA, INC. Listed on: 05/22/2024

Last Buyer's Agent

Travis Gaule

SKOGMAN REALTY

SKOGMAN REALTY

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $882

Year Built

  • 1905

Lot Details

  • 2,396 Sq Ft Lot

Home Design

  • 1,561 Sq Ft Home
  • Frame Construction
  • Aluminum Siding

Basement

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

Utilities

  • Forced Air Cooling System
  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Gas
  • Separate Meters

Community Details

  • Gross Income $1,700

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for water, gas

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$882

Year Built

1905

Lot Details

0

Listing Details

  • Acres: 0.0550
  • City Name: Cedar Rapids
  • Gross Tax: 882
  • List User Cell Phone: 319-981-1200
  • Miscellaneous: Sep. Meter – Electric
  • Net Tax: 882
  • Noof Units Two Bedroom: 2
  • Property Sub Types: 1-4 Units
  • Property Type: Multi-Family
  • Ratio Close Price By List Price: 1.08333
  • Ratio Close Price By Original Li: 1.08333
  • Ratio Current Price By Sq Ft: 41.64
  • Total Sq Ft: 1561
  • Style St: Upper/Lower
  • Tenants Responsibilities Include: Electricity
  • Water Sewer Roads: City Sewer, City Water
  • Zoning: Res
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1905

Interior Features

  • Basement: Block, Full

Exterior Features

  • Construction Methods: Frame
  • Exterior: Aluminum

Utilities

  • Heating Cooling: Forced Air, Gas Heat, Window/Wall Air

Lot Info

  • Lot Size: .055 Acre

Rental Info

  • Owner Pays: Water, Gas

Multi Family

  • Gross Income: 1700

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 22, 2024
Closed on
Jun 28, 2024
Sold by
Watson Braeden Joseph
Bought by
Diversity Holdings Llc
Seller's Agent
Tracy Engelbart
REAL ESTATE AMERICA, INC.
Buyer's Agent
Travis Gaule
SKOGMAN REALTY
List Price
$60,000
Sold Price
$65,000
Premium/Discount to List
$5,000
8.33%
Views
45
Current Estimated Value
$61,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,000
Avg. Annual Appreciation
-3.99%
Original Mortgage
$100,000
Outstanding Balance
$98,175
Interest Rate
6.94%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$37,175

Purchase Details

Closed on
Jul 17, 2023
Sold by
Azhand Mike and Azhand Sema
Bought by
Watson Braeden

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$37,500
Interest Rate
6.71%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 6, 2022
Closed on
Jan 3, 2023
Sold by
Patrick Brennan Investments Inc
Bought by
Azhand Mike
Seller's Agent
Jesse Brennan
Keller Williams Legacy Group
Buyer's Agent
Jesse Brennan
Keller Williams Legacy Group
List Price
$35,000
Sold Price
$35,000
Views
5

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.98%

Purchase Details

Closed on
Oct 20, 2017
Sold by
Knapp Carlyn L and Knapp Sonda L
Bought by
Patrick Brennan Investments Inc

Purchase Details

Closed on
Nov 16, 2010
Sold by
Knapp Carlyn L and Knapp Sondra L
Bought by
Patrick Brennan Investments Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$15,000
Interest Rate
3%
Mortgage Type
Seller Take Back
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
Diversity Holdings Llc $57,000 None Listed On Document
Watson Braeden $50,000 None Listed On Document
Azhand Mike $35,000 --
Patrick Brennan Investments Inc $18,000 None Available
Patrick Brennan Investments Inc $18,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Diversity Holdings Llc $100,000
Previous Owner Watson Braeden $37,500
Previous Owner Patrick Brennan Investments Inc $15,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/01/2024 07/01/24 Sold $65,000 +8.3% $42 / Sq Ft
06/01/2024 06/01/24 Pending -- -- --
05/22/2024 05/22/24 For Sale $60,000 +71.4% $38 / Sq Ft
01/04/2023 01/04/23 Sold $35,000 0.0% $22 / Sq Ft View Prior Sale
12/06/2022 12/06/22 Pending -- -- --
12/06/2022 12/06/22 For Sale $35,000 -- $22 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

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 $756 $50,400 $14,300 $36,100
2024 $846 $49,300 $12,500 $36,800
2023 $846 $42,700 $10,800 $31,900
2022 $734 $40,100 $10,800 $29,300
2021 $772 $35,400 $9,100 $26,300
2020 $772 $35,000 $9,100 $25,900
2019 $720 $33,400 $8,000 $25,400
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2024

    Tracy Engelbart

    REAL ESTATE AMERICA, INC.

    (319) 329-1100

    2 in this area

    187 Total Sales

    Tracy Engelbart
    Section Image
  • Travis Gaule

    Buyer's Agent in 2024

    Travis Gaule

    SKOGMAN REALTY

    (319) 621-5324

    8 in this area

    53 Total Sales

    Travis Gaule
    Section Image

  • J

    Seller's Agent in 2023

    Jesse Brennan

    Keller Williams Legacy Group

    (319) 521-1129

    4 in this area

    23 Total Sales

    Jesse Brennan
    Section Image
See All Agents

Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2403540

Cedar Rapids Area Association of REALTORS®

APN: 14223-02014-00000

Iowa Linn County Cedar Rapids 52403 Wellington Heights

1401 Bever Ave SE, Cedar Rapids, IA

Not Listed for Sale

MultiFamily

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