$100,000
SOLD SEP 30, 2024

1507 2nd Ave SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood
-- Bed
-- Bath
3,641 Sq Ft
8,407 Sq Ft Lot

Recently Sold

$27 Per Sq Ft

33% Below List Price

103 Days on Market

About This Home

As of September 2024

Investor Alert! Prime investment opportunity at 1507 2nd Ave SE, Cedar Rapids. This fully occupied multi-unit property features five units (3 efficiency and 3 one-bedroom), with a total of 3,641 sq ft. Gross income is $42,000 with $11,000 in expenses, resulting in a net operating income of $31,000.
Showings for pre-approved buyers only with 48-hour notice. Schedule your viewing today!

Last Agent to Sell the Property

Z Maryland

Pinnacle Realty LLC Listed on: 05/14/2024

Pinnacle Realty LLC

Last Buyer's Agent

Amber Pitt

Keller Williams Legacy Group

Keller Williams Legacy Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,170

Year Built

  • Built in 1900

Lot Details

  • 8,407 Sq Ft Lot

Home Design

  • Frame Construction
  • Wood Siding

Interior Spaces

  • 3,641 Sq Ft Home
  • Basement Fills Entire Space Under The House

Schools

  • Johnson Elementary School
  • Mckinley Middle School
  • Washington High School

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for gas, water
  • Assessor Parcel Number 142227901400000

Community Details

Overview

  • 5 Units

Building Details

  • Operating Expense $11,000
  • Gross Income $42,000
  • Net Operating Income $31,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,170

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • Lot Size Acres: 0.193
  • Co List Office Phone: 319-393-0900
  • MLS Status: Closed
  • Directions: 2nd Ave SE
  • 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

Schools

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

Lot Info

  • Lot Dimensions: 8,430
  • ResoLotSizeUnits: Acres
  • Parcel Number: 142227901400000
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Gas, Water

Multi Family

  • Gross Income: 42000.0
  • Net Operating Income: 31000.0
  • Number Of Units Total: 5
  • Annual Operating Expense: 11000.0
  • Tenant Pays: Electricity

Tax Info

  • Tax Annual Amount: 2170.0

Range of Values:

Collateral Analytics

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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

Property History

Date Event Price Change Sq Ft Price
09/30/2024 09/30/24 Sold $100,000 -21.9% $27 / Sq Ft
08/25/2024 08/25/24 Pending -- -- --
05/23/2024 05/23/24 Price Changed $128,000 -14.0% $35 / Sq Ft
05/14/2024 05/14/24 For Sale $148,900 -74.8% $41 / Sq Ft
04/15/2018 04/15/18 Sold $590,000 +884.2% $214 / Sq Ft
03/01/2018 03/01/18 Pending -- -- --
08/16/2017 08/16/17 For Sale $59,950 +5.2% $22 / Sq Ft
04/01/2014 04/01/14 Sold $57,000 -9.4% $21 / Sq Ft
04/01/2014 04/01/14 Pending -- -- --
02/03/2014 02/03/14 For Sale $62,900 -- $23 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Z Maryland

    Seller's Agent in 2024

    Z Maryland

    Pinnacle Realty LLC

    (319) 431-0382

    7 in this area

    91 Total Sales

    Z Maryland
    Section Image

  • A

    Buyer's Agent in 2024

    Amber Pitt

    Keller Williams Legacy Group

    (319) 651-2539

    1 in this area

    64 Total Sales

    Amber Pitt
    Section Image
  • Ben Griffith

    Seller's Agent in 2018

    Ben Griffith

    Griffith Real Estate

    (319) 202-8908

    69 Total Sales

    Ben Griffith
    Section Image

  • K

    Seller Co-Listing Agent in 2018

    Kim Griffith

    Griffith Real Estate

    (319) 521-3291

    70 Total Sales

    Kim Griffith
    Section Image
  • Michelle David

    Seller's Agent in 2014

    Michelle David

    Pinnacle Realty LLC

    (319) 533-0021

    6 in this area

    139 Total Sales

    Michelle David
    Section Image

  • B

    Buyer's Agent in 2014

    Beth Parker

    Ruhl & Ruhl

See All Agents

Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2403311

Cedar Rapids Area Association of REALTORS®

Iowa Linn County Cedar Rapids 52403 Wellington Heights

1507 2nd Ave SE, Cedar Rapids, IA

This home is located at 1507 2nd Ave SE, Cedar Rapids, IA 52403 and is currently priced at $100,000, approximately $27 per square foot. This property was built in 1900. 1507 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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