NOT LISTED FOR SALE

1441 2nd Ave SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood

Estimated Value: $81,000 - $134,000

4 Beds
4 Baths
3,028 Sq Ft
$36/Sq Ft Est. Value

Last Sold June 12, 2024

Last sale price $60,000 $20 Per Sq Ft

Est. 79% increase in value since last sale

Current estimated payment $734/month

18 Days on Market

About This Home

As of June 2024

Welcome to 1441 2nd Ave, SE– a fantastic investment opportunity awaits in this charming 4-unit property with substantial upside potential. Located in a prime location, this property offers a blend of convenience and promise for investors seeking to expand their portfolio in Cedar Rapids.
Offering three (3) one-bedroom, one-bath units and one (1) efficiency unit. A common basement includes extra storage for tenants and the potential for coin operated laundry.
With its strategic location, this property enjoys proximity to the Cedar Rapids Med Quarter, downtown, Newbo, shopping, and schools. Residents will also appreciate easy access to major highways and roadways, enhancing their commute and connectivity to the rest of the city.
With some thoughtful renovations and management, there is ample opportunity to increase rental income and maximize returns. Don’t miss out on this chance to acquire a promising income-generating asset.
Property is being sold in as is condition. Utilities are not separately metered – owner pays water, gas, and electric.

Last Agent to Sell the Property

Grant Gibney

Scottsman Real Estate Listed on: 02/05/2024

Last Buyer's Agent

Grant Gibney

Scottsman Real Estate Listed on: 02/05/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • 1900

Lot Details

  • 7,013 Sq Ft Lot
  • Lot Dimensions are 50 x 140

Home Design

  • 3,028 Sq Ft Home
  • Frame Construction
  • Slate

Utilities

  • Heating System Uses Gas

Listing and Financial Details

  • The owner pays for water, electricity, gas

Property Details

Home Type

Multi-Family

Year Built

1900

Lot Details

0

Listing Details

  • Acres: 0.1610
  • City Name: Cedar Rapids
  • Gross Tax: 1648
  • Last City Inspection: 6/1/22
  • List User Cell Phone: 319-558-9813
  • Miscellaneous: Common Laundry-Owned, Parking Spaces
  • Net Tax: 1648
  • Noof Units Efficiency: 1
  • Noof Units One Bedroom: 3
  • Property Sub Types: 1-4 Units
  • Property Type: Multi-Family
  • Ratio Close Price By List Price: 0.80107
  • Ratio Close Price By Original Li: 0.75094
  • Ratio Current Price By Sq Ft: 19.82
  • Total Sq Ft: 3028
  • Style St: Upper/Lower
  • Water Sewer Roads: City Sewer, City Water
  • Zoning: RES 3+
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1900

Exterior Features

  • Construction Methods: Frame
  • Exterior: Slate

Utilities

  • Heating Cooling: Gas Heat

Schools

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

Lot Info

  • Lot Size: 50 X 140

Rental Info

  • Owner Pays: Water, Electricity, Gas

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 12, 2025
Sold by
Jrb Solutions Llc
Bought by
Diversity Holdings Llc
Current Estimated Value
$107,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$117,000
Outstanding Balance
$117,000
Interest Rate
6.64%
Mortgage Type
New Conventional
Estimated Equity
-$9,500

Purchase Details

Listed on
Feb 5, 2024
Closed on
Jun 10, 2024
Sold by
Swore Carol A
Bought by
Scottsman Real Estate Llc
Seller's Agent
Grant Gibney
Scottsman Real Estate
Buyer's Agent
Grant Gibney
Scottsman Real Estate
List Price
$79,900
Sold Price
$60,000
Premium/Discount to List
-$19,900
-24.91%
Views
27

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
74.26%
Original Mortgage
$115,000
Interest Rate
7.22%
Mortgage Type
Credit Line Revolving

Purchase Details

Listed on
Feb 5, 2024
Closed on
May 31, 2024
Sold by
Scottsman Real Estate Llc
Bought by
Jrb Solutions Llc
Seller's Agent
Grant Gibney
Scottsman Real Estate
Buyer's Agent
Grant Gibney
Scottsman Real Estate
List Price
$79,900
Sold Price
$60,000
Premium/Discount to List
-$19,900
-24.91%
Views
27

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
7.22%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Feb 6, 2012
Sold by
Scroggins Dorothy A
Bought by
Swore Charles R and Swore Carol A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$42,000
Interest Rate
3.95%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 12, 2003
Sold by
Ira Eugene A Schubert
Bought by
Scroggins Dorothy A
Source: Public Records

Range of Values:

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Average Value
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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 $117,000 None Listed On Document
Diversity Holdings Llc $117,000 None Listed On Document
Scottsman Real Estate Llc $60,000 None Listed On Document
Jrb Solutions Llc $75,000 None Listed On Document
Swore Charles R $30,000 None Available
Scroggins Dorothy A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Diversity Holdings Llc $117,000
Closed Diversity Holdings Llc $117,000
Previous Owner Jrb Solutions Llc $115,000
Previous Owner Swore Charles $56,979
Previous Owner Swore Charles R $42,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/12/2024 06/12/24 Sold $60,000 -19.9% $20 / Sq Ft
02/23/2024 02/23/24 Pending -- -- --
02/16/2024 02/16/24 Price Changed $74,900 -6.3% $25 / Sq Ft
02/05/2024 02/05/24 For Sale $79,900 -- $26 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $1,648 $93,700 $21,400 $72,300
2022 $1,822 $78,100 $21,400 $56,700
2021 $1,804 $74,700 $18,000 $56,700
2020 $1,804 $68,300 $15,800 $52,500
2019 $1,610 $56,700 $15,800 $40,900
2018 $1,682 $56,700 $15,800 $40,900
2017 $1,962 $59,500 $15,800 $43,700
2016 $1,962 $59,500 $15,800 $43,700
2015 $2,584 $75,180 $15,750 $59,430
2014 $2,662 $70,925 $11,340 $59,585
2013 $2,677 $70,925 $11,340 $59,585
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2024

    Grant Gibney

    Scottsman Real Estate

    (319) 558-9813

    1 in this area

    7 Total Sales

    Grant Gibney
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Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2400820

Cedar Rapids Area Association of REALTORS®

APN: 14222-83006-00000

Iowa Linn County Cedar Rapids 52403 Wellington Heights

1441 2nd Ave SE, Cedar Rapids, IA

This home is located at 1441 2nd Ave SE, Cedar Rapids, IA 52403 since 05 February 2024 and is currently estimated at $107,500, approximately $35 per square foot. This property was built in 1900. 1441 2nd Ave SE is a home located in Linn County with nearby schools including Johnson Elementary School, McKinley STEAM Academy, and George Washington High School.

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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