1628 2nd Ave SE Cedar Rapids, IA 52403
Wellington Heights NeighborhoodEstimated payment $830/month
Highlights
- Deck
- Storage
- 4-minute walk to Redmond Park
- Patio
- Forced Air Heating and Cooling System
About This Home
Very neat duplex in solid neighborhood. Both units have been rented to current tenants for long term and rents have not been adjusted to current levels. Lower level is in amazing condition and has a 1-year lease, upper unit has two entrances from front and rear of home, tenant has been there for 7 years and is on a month to month; needs paint and flooring. Building is sound and lower level has shared pay laundry with stone walls and dry basement. Tenants have worked to share the storage space, and it has worked out well. Units have individual HVAC which have been updated along with the water heater. 4 car concrete parking to rear yard, yard has wooden privacy fence. So much potential for income and a nice low priced quality duplex. Need 24-hour notice to view apartments. Seller is selling AS-IS; buyer can do inspections for their information only.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,045
Year Built
- Built in 1899
Lot Details
- Lot Dimensions are 40 x 140
Home Design
- Frame Construction
- Aluminum Siding
Interior Spaces
- 1,808 Sq Ft Home
- Storage
- Laundry in unit
- Basement Fills Entire Space Under The House
Outdoor Features
- Deck
- Patio
Schools
- Johnson Elementary School
- Mckinley Middle School
- Washington High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
Listing and Financial Details
- The owner pays for water
- Assessor Parcel Number 142220601800000
Community Details
Overview
- 2 Units
Building Details
- Operating Expense $5,745
- Gross Income $16,140
- Net Operating Income $10,395
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 |
|---|---|---|---|---|
| 2025 | $1,728 | $112,900 | $25,000 | $87,900 |
| 2024 | $1,814 | $110,300 | $22,000 | $88,300 |
| 2023 | $1,814 | $97,700 | $19,000 | $78,700 |
| 2022 | $1,580 | $86,000 | $19,000 | $67,000 |
| 2021 | $1,570 | $76,300 | $16,000 | $60,300 |
| 2020 | $1,570 | $71,200 | $16,000 | $55,200 |
| 2019 | $1,468 | $68,100 | $14,000 | $54,100 |
| 2018 | $1,428 | $68,100 | $14,000 | $54,100 |
| 2017 | $1,536 | $72,300 | $14,000 | $58,300 |
| 2016 | $1,536 | $72,300 | $14,000 | $58,300 |
| 2015 | $1,519 | $71,378 | $14,000 | $57,378 |
| 2014 | $1,334 | $71,378 | $14,000 | $57,378 |
| 2013 | $1,300 | $71,378 | $14,000 | $57,378 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/30/2025 10/30/25 | Pending | -- | -- | -- |
| 10/20/2025 10/20/25 | For Sale | $125,000 | -- | $69 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $70,000 | None Available | |
| Warranty Deed | $90,500 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $52,500 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $90,286 | FHA |
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2508788
APN: 14222-06018-00000
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