3403 1st Ave SW Cedar Rapids, IA 52405
Estimated payment $4,743/month
About This Home
House Legal Description: EAST KENWOOD PARK W 40' STR/LB 16 1 Parcel Number for all 3 properties: 14113-26007-00000, 14113-26006-00000, 14113-26008-00000. Zoning for 3403, 3409 is traditional mixed-use center. Zoning for 114th 34th St Dr. SE is Suburban Residential Flex. All 3 Parcels are included in this listing. Redevelopment opportunity or investment income opportunity with great traffic counts just off a lighted intersection. Off street parking, rental income, and high visibility. 34th Street Drive SE is currently vacant. 10 of 12 units are currently rented between the red and white buildings. Square footage is of all 3 buildings. All information was provided by assessor's site and will need verified by buyer's agent.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,382
Year Built
- Built in 1930
Lot Details
- 0.73 Acre Lot
Home Design
- 9,154 Sq Ft Home
- Frame Construction
Schools
- Kenwood Elementary School
- Franklin Middle School
- Washington High School
Listing and Financial Details
- Assessor Parcel Number 14113-26007-00000, 14113-26006-00000, 14113-26008
Community Details
Overview
- 13 Units
Building Details
- Operating Expense $23,397
- Gross Income $114,000
- Net Operating Income $90,603
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 |
|---|---|---|---|---|
| 2024 | $3,298 | $203,000 | $33,600 | $169,400 |
| 2023 | $3,298 | $203,000 | $33,600 | $169,400 |
| 2022 | $2,844 | $165,200 | $33,600 | $131,600 |
| 2021 | $2,834 | $146,200 | $33,600 | $112,600 |
| 2020 | $2,834 | $137,000 | $27,700 | $109,300 |
| 2019 | $2,618 | $130,000 | $27,700 | $102,300 |
| 2018 | $2,542 | $130,000 | $27,700 | $102,300 |
| 2017 | $2,993 | $124,200 | $27,700 | $96,500 |
| 2016 | $2,993 | $140,800 | $25,500 | $115,300 |
| 2015 | $2,919 | $137,165 | $25,536 | $111,629 |
| 2014 | $2,734 | $137,165 | $25,536 | $111,629 |
| 2013 | $2,670 | $137,165 | $25,536 | $111,629 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/08/2025 09/08/25 | Price Changed | $750,000 | -11.8% | $82 / Sq Ft |
| 03/11/2025 03/11/25 | For Sale | $850,000 | -- | $93 / Sq Ft |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $117,500 | New Conventional | |
| Closed | $50,000 | New Conventional |
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2502261
APN: 13254-76001-00000
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