C
Seller's Agent in 2026
Cindy Guckenberger
Key Realty
(319) 210-3533
2 in this area
46 Total Sales
1416 3rd Ave SE Cedar Rapids, IA 52403
Wellington Heights Neighborhood
--
Bed
--
Bath
2,748
Sq Ft
5,619
Sq Ft Lot
Highlights
- Cooling System Mounted To A Wall/Window
- Shed
- Garage
- Storage
- Forced Air Heating System
- 4-minute walk to Redmond Park
About This Home
As of February 2026Rare 4-Plex Investment Opportunity – $150,000 Total ($37,500 per Unit).
This fully rented property generates $34,740 gross annual income, offering a projected 20% cap rate at the current price point. The unit mix includes two 1-bedroom and two 2-bedroom apartments, appealing to a broad tenant base. Recent updates include a new roof and interior improvements, supporting long-term stability. Tenants are on month-to-month leases, providing flexibility for future rent adjustments. Located in Cedar Rapids’ MedQuarter district near major employers and downtown amenities, this asset combines affordability, strong returns, and long-term potential. Firm at $150,000 – priced to sell.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,994
Year Built
- Built in 1898
Parking
- Garage
Home Design
- Frame Construction
- Wood Siding
Interior Spaces
- 2,748 Sq Ft Home
- Storage
Schools
- Grant Elementary School
- Mckinley Middle School
- Washington High School
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Heating System Uses Gas
Additional Features
- Shed
- 5,619 Sq Ft Lot
Community Details
- 4 Units
Listing and Financial Details
- Tenant pays for electricity
- The owner pays for gas, water
- Assessor Parcel Number 142228301600000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 17, 2025
Closed on
Feb 15, 2026
Sold by
Peterson Christian Alexander
Bought by
Blooming Valley Services Llc
Seller's Agent
Cindy Guckenberger
Key Realty
Buyer's Agent
Rossilyn Babington
Pinnacle Realty LLC
List Price
$150,000
Sold Price
$150,000
Views
94
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.67%
Original Mortgage
$136,000
Outstanding Balance
$136,000
Interest Rate
6.06%
Mortgage Type
New Conventional
Estimated Equity
$15,965
Purchase Details
Closed on
Jul 7, 2023
Sold by
1416 3Rd Avenue Se Residential Cooperati
Bought by
Peterson Christian Alexander
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,000
Interest Rate
7.25%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 17, 2013
Sold by
Himmelsbach Eric J
Bought by
1416 3Rd Avenue Se Residential Cooperati
Purchase Details
Closed on
Mar 17, 2006
Sold by
Bag Lady Investment Co
Bought by
Christie Charles H and Maier Priscilla
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$55,955
Interest Rate
6%
Mortgage Type
Commercial
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $150,000 | None Listed On Document | |
| Warranty Deed | $160,000 | None Listed On Document | |
| Warranty Deed | $160,000 | None Listed On Document | |
| Warranty Deed | -- | None Available | |
| Corporate Deed | $65,500 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $136,000 | New Conventional | |
| Previous Owner | $128,000 | New Conventional | |
| Previous Owner | $55,955 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/27/2026 02/27/26 | Sold | $150,000 | 0.0% | $55 / Sq Ft |
| 12/18/2025 12/18/25 | Pending | -- | -- | -- |
| 11/07/2025 11/07/25 | For Sale | $150,000 | 0.0% | $55 / Sq Ft |
| 11/05/2025 11/05/25 | Pending | -- | -- | -- |
| 09/26/2025 09/26/25 | Price Changed | $150,000 | -9.1% | $55 / Sq Ft |
| 03/17/2025 03/17/25 | For Sale | $165,000 | -- | $60 / 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 | $1,896 | $117,100 | $25,000 | $92,100 |
| 2024 | $1,840 | $110,100 | $22,000 | $88,100 |
| 2023 | $1,840 | $107,100 | $19,000 | $88,100 |
| 2022 | $1,228 | $87,200 | $19,000 | $68,200 |
| 2021 | $1,234 | $59,300 | $14,000 | $45,300 |
| 2020 | $1,234 | $55,900 | $14,000 | $41,900 |
| 2019 | $1,204 | $55,900 | $14,000 | $41,900 |
| 2018 | $1,172 | $55,900 | $14,000 | $41,900 |
| 2017 | $1,172 | $61,200 | $14,000 | $47,200 |
| 2016 | $1,300 | $61,200 | $14,000 | $47,200 |
| 2015 | $1,550 | $72,864 | $14,000 | $58,864 |
| 2014 | $1,550 | $73,046 | $9,072 | $63,974 |
| 2013 | $2,656 | $73,046 | $9,072 | $63,974 |
Source: Public Records
Agents Affiliated with this Home
-
Cindy Guckenberger
-
Rossilyn Babington
Buyer's Agent in 2026
Rossilyn Babington
Pinnacle Realty LLC
(319) 804-5621
4 in this area
170 Total Sales
Map
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2501792
APN: 14222-83016-00000
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.
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Information is deemed reliable but not guaranteed.
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