450 1st St SW Unit 602 Cedar Rapids, IA 52404
Downtown Cedar Rapids Neighborhood
3
Beds
2.5
Baths
2,422
Sq Ft
$534/mo
HOA Fee
Highlights
- Waterfront
- Contemporary Architecture
- Great Room with Fireplace
- Deck
- Main Floor Primary Bedroom
- 5-minute walk to Plaza Park
About This Home
As of May 2025Step into unparalleled luxury with this breathtaking penthouse condo, located in the heart of Cedar Rapids. With only three units on the top floor, this rare find offers the best view in the city, overlooking the amphitheater, the river, and the downtown skyline. A sprawling 26 x 10-foot deck provides the perfect setting for outdoor relaxation or entertaining, offering a front-row seat to the city life below.Spanning over 2,400 square feet, this expansive 3-bedroom, 2.5-bathroom unit provides both space and sophistication. As you enter, you’re immediately greeted by a dramatic open-concept living area with stunning panoramic city views. The spacious living room features a striking stone fireplace, creating a warm and inviting atmosphere. The gourmet kitchen is a chef’s dream, complete with a large island, granite countertops, and top-of-the-line Thermador appliances, including an induction cooktop and a sleek bar area for added convenience.The luxurious master suite is truly one-of-a-kind, offering incredible views of the city. An adjoining bonus room provides versatility as a private office, TV room, or home gym. The spa-like master ensuite is a retreat, with dual sinks and a spacious walk-in shower. The bathroom leads directly to a custom-designed walk-in closet finished with rich wood detailing, offering ample hanging and drawer space. The closet conveniently connects to the large, well-appointed laundry room.This thoughtful split-floor plan also includes two additional generously sized bedrooms, a large storage closet, and a beautifully tiled bathroom with a shower/tub combination.A rare bonus: the unit has a private 2-car garage, offering secure access directly into the building’s common hallway.With the convenience of downtown living and the added benefit of a tax abatement running through 2026, this condo is the ultimate in modern luxury. Contact the city for more details on the tax incentive.Don’t miss your chance to experience the pinnacle of penthouse living in Cedar Rapids—schedule your private tour today!
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $498
Year Built
- Built in 2016
HOA Fees
- $534 Monthly HOA Fees
Parking
- 2 Car Attached Garage
- Heated Garage
- Garage Door Opener
- On-Street Parking
Home Design
- Contemporary Architecture
- Cement Siding
- Siding
- Metal Construction or Metal Frame
Interior Spaces
- 2,422 Sq Ft Home
- Gas Fireplace
- Great Room with Fireplace
- Combination Kitchen and Dining Room
- Den
Kitchen
- Range with Range Hood
- Microwave
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 3 Bedrooms
- Primary Bedroom on Main
Laundry
- Laundry Room
- Laundry on main level
- Dryer
- Washer
Schools
- Taylor Elementary School
- Wilson Middle School
- Jefferson High School
Utilities
- Forced Air Heating and Cooling System
- Electric Water Heater
Additional Features
- Deck
- Waterfront
Listing and Financial Details
- Assessor Parcel Number 142827801901035
Community Details
Pet Policy
- Limit on the number of pets
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 4, 2025
Closed on
Apr 27, 2025
Sold by
Randall L Reihmann Revocable Trust and Reihmann Randall L
Bought by
Donohue Richard and Donohue Barbara
Seller's Agent
Karen Mathison
Realty87
Buyer's Agent
Jaime Burczek
SKOGMAN REALTY
List Price
$725,000
Sold Price
$735,000
Premium/Discount to List
$10,000
1.38%
Views
30
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$7,788
Avg. Annual Appreciation
-3.18%
Similar Homes in Cedar Rapids, IA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $735,000 | None Listed On Document |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/08/2025 05/08/25 | Sold | $735,000 | +1.4% | $303 / Sq Ft |
| 01/04/2025 01/04/25 | Pending | -- | -- | -- |
| 01/04/2025 01/04/25 | For Sale | $725,000 | +9.8% | $299 / Sq Ft |
| 09/19/2019 09/19/19 | Sold | $660,000 | -4.3% | $273 / Sq Ft |
| 07/18/2019 07/18/19 | Pending | -- | -- | -- |
| 07/08/2019 07/08/19 | For Sale | $689,900 | +13.1% | $285 / Sq Ft |
| 05/10/2017 05/10/17 | Sold | $610,000 | +6.1% | $252 / Sq Ft |
| 04/28/2017 04/28/17 | Pending | -- | -- | -- |
| 10/14/2015 10/14/15 | For Sale | $575,000 | -- | $237 / Sq Ft |
Source: Cedar Rapids Area Association of REALTORS®
Tax History Compared to Growth
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 | $206 | $635,900 | $70,000 | $565,900 |
| 2023 | $206 | $517,100 | $70,000 | $447,100 |
| 2022 | $204 | $498,800 | $70,000 | $428,800 |
| 2021 | $216 | $438,600 | $9,800 | $428,800 |
| 2020 | $216 | $9,800 | $9,800 | $0 |
| 2019 | $28 | $9,800 | $9,800 | $0 |
| 2018 | $206 | $9,800 | $9,800 | $0 |
| 2017 | $0 | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Karen Mathison
Seller's Agent in 2025
Karen Mathison
Realty87
(319) 573-8106
3 in this area
144 Total Sales
-
Jaime Burczek
J
Buyer's Agent in 2025
Jaime Burczek
SKOGMAN REALTY
(319) 366-6427
1 in this area
54 Total Sales
-
Candy Wong
C
Seller's Agent in 2019
Candy Wong
SKOGMAN REALTY
(319) 560-3259
48 Total Sales
-
Daniel Nosbish
D
Buyer's Agent in 2019
Daniel Nosbish
SKOGMAN REALTY
14 Total Sales
-
Lori Frett
Seller Co-Listing Agent in 2017
Lori Frett
SKOGMAN REALTY
(319) 533-2594
104 Total Sales
Map
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2500059
APN: 14282-78019-01035
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