1416 3rd Ave SE Cedar Rapids, IA 52403
Wellington Heights NeighborhoodEstimated payment $1,081/month
Highlights
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Wood Siding
- Shed
- Garage
- 4-minute walk to Redmond Park
About This Home
Investment Opportunity! 4-plex with solid cash flow! Comprised of two 1-bedroom units and 2 two-bedroom units. This is an ideal investment opportunity for first time investor - Located on the SE side of Cedar Rapids, near the med quarter and adjacent to St Paul’s church. New roof and other updates since owner purchased in 2023. Spacious backyard with detailed garage that is rented out to tenants. On site laundry. Perfect for a new owner to take over and begin generating income from day one. One upstairs unit will remain vacant for a short time to allow for showings Property is being sold AS IS. Gross Income: $30,360. Expenses: $22,284. Net Operating Income: $8,076. Bottom floor rent: $650 & $580. Top Floor: $600 & $700. Owner pays gas (heat)/water/garbage/snow removal/lawn care. Tenant pays electricity. Sold As Is.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,994
Year Built
- Built in 1898
Parking
- Garage
Home Design
- 2,748 Sq Ft Home
- Frame Construction
- Wood Siding
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
- The owner pays for gas, water
- Assessor Parcel Number 142228301600000
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 |
|---|---|---|---|---|
| 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 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/17/2025 03/17/25 | For Sale | $165,000 | -- | $60 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $160,000 | None Listed On Document | |
| Warranty Deed | -- | None Available | |
| Corporate Deed | $65,500 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $128,000 | New Conventional | |
| Previous Owner | $56,720 | Unknown | |
| Previous Owner | $55,955 | Commercial | |
| Previous Owner | $9,556 | Commercial |
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2501792
APN: 14222-83016-00000
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