NOT LISTED FOR SALE

508 3rd Ave SW Cedar Rapids, IA 52404

Taylor Neighborhood

Estimated Value: $118,000 - $125,894

1 Bed
3 Baths
1,591 Sq Ft
$77/Sq Ft Est. Value

Last Sold February 24, 2025

Last sale price $121,000 $76 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $832/month

34 Days on Market

About This Home

As of February 2025

Very well priced Fully rented Mixed Use multifamily and commercial space building for sale. Right down the road from Kingston Yard Development, 508 3rd contains 5 1Bed multifamily units with a commercial space facing 3rd Ave. Although this property will have some maintenance/rehab as any... It has both long term and short term investment benefits many will notice.

Last Agent to Sell the Property

Jack Brundell

Creative Real Estate Iowa Listed on: 12/08/2024

Creative Real Estate Iowa

Last Buyer's Agent

Jack Brundell

Creative Real Estate Iowa Listed on: 12/08/2024

Creative Real Estate Iowa

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,413

Year Built

  • Built in 1900

Lot Details

  • 4,182 Sq Ft Lot
  • Lot Dimensions are 30x140

Home Design

  • Frame Construction
  • Vinyl Siding

Interior Spaces

  • 1,591 Sq Ft Home
  • Basement Fills Entire Space Under The House

Schools

  • Taylor Elementary School
  • Wilson Middle School
  • Jefferson High School

Community Details

  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 14291-79012-00000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,413

Year Built

Built in 1900

Lot Details

4,182 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Lot Size Acres: 0.096
  • Co List Office Phone: 319-731-3400
  • MLS Status: Closed
  • Directions: Take a right off 3rd Ave Sw
  • Year Built: 1900
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Type: Frame, Vinyl Siding

Garage/Parking

  • Parking Features: Parking Space(s)

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Schools

  • Elementary School: Taylor
  • High School: Jefferson
  • Middle Or Junior School: Wilson

Lot Info

  • Lot Dimensions: 30x140
  • ResoLotSizeUnits: Acres
  • Parcel Number: 14291-79012-00000
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 6

Tax Info

  • Tax Annual Amount: 2413.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 8, 2024
Closed on
Feb 24, 2025
Sold by
Montague Ryan
Bought by
S & K Rei Llc
Seller's Agent
Jack Brundell
Creative Real Estate Iowa
Buyer's Agent
Jack Brundell
Creative Real Estate Iowa
List Price
$140,000
Sold Price
$121,000
Premium/Discount to List
-$19,000
-13.57%
Views
31
Current Estimated Value
$121,947

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$947
Avg. Annual Appreciation
0.74%
Original Mortgage
$121,000
Outstanding Balance
$120,083
Interest Rate
7.04%
Mortgage Type
Credit Line Revolving
Estimated Equity
$1,864

Purchase Details

Closed on
Dec 20, 2023
Sold by
Wilson Property Management Llc
Bought by
Montague Ryan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
7.5%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 21, 2018
Closed on
Oct 29, 2018
Sold by
Dennis Fred and Dennis Frederick W
Bought by
Wilson Property Management L L C
Seller's Agent
Aaron Webber
Keller Williams Legacy Group
Buyer's Agent
Diona Carpenter
SKOGMAN REALTY
List Price
$135,000
Sold Price
$116,000
Premium/Discount to List
-$19,000
-14.07%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.68%
Original Mortgage
$116,000
Interest Rate
4.6%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Feb 14, 2008
Sold by
Gladwin Daryl D
Bought by
Dennis Fred

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$57,554
Interest Rate
6.11%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
S & K Rei Llc $121,000 None Listed On Document
Montague Ryan $116,000 None Listed On Document
Montague Ryan $116,000 None Listed On Document
Wilson Property Management L L C $116,000 None Available
Dennis Fred $65,500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open S & K Rei Llc $121,000
Previous Owner Montague Ryan $85,000
Previous Owner Wilson Property Management L L C $116,000
Previous Owner Dennis Fred $57,554
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/24/2025 02/24/25 Sold $121,000 -13.6% $76 / Sq Ft
01/11/2025 01/11/25 Pending -- -- --
12/08/2024 12/08/24 For Sale $140,000 +20.7% $88 / Sq Ft
10/31/2018 10/31/18 Sold $116,000 +0.9% $55 / Sq Ft View Prior Sale
09/15/2018 09/15/18 Pending -- -- --
09/07/2018 09/07/18 Price Changed $115,000 -8.0% $54 / Sq Ft
07/17/2018 07/17/18 Price Changed $125,000 -7.4% $59 / Sq Ft
06/21/2018 06/21/18 For Sale $135,000 -- $64 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

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 $2,358 $138,000 $16,800 $121,200
2024 $2,190 $133,200 $16,800 $116,400
2023 $2,190 $133,200 $16,800 $116,400
2022 $2,770 $103,800 $16,800 $87,000
2021 $2,398 $102,000 $16,800 $85,200
2020 $2,398 $81,200 $12,600 $68,600
2019 $2,470 $78,554 $9,954 $68,600
2018 $2,532 $78,554 $9,954 $68,600
2017 $2,532 $54,954 $9,954 $45,000
2016 $1,926 $54,954 $9,954 $45,000
2015 $1,912 $54,829 $12,600 $42,229
2014 $1,884 $72,287 $14,515 $57,772
2013 $2,628 $72,287 $14,515 $57,772
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2025

    Jack Brundell

    Creative Real Estate Iowa

    (319) 432-2878

    8 in this area

    50 Total Sales

    Jack Brundell
    Section Image
  • Aaron Webber

    Seller's Agent in 2018

    Aaron Webber

    Keller Williams Legacy Group

    (319) 560-0169

    5 in this area

    78 Total Sales

    Aaron Webber
    Section Image
  • Diona Carpenter

    Buyer's Agent in 2018

    Diona Carpenter

    SKOGMAN REALTY

    (319) 360-2124

    1 in this area

    86 Total Sales

    Diona Carpenter
    Section Image
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Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2408263

Cedar Rapids Area Association of REALTORS®

APN: 14291-79012-00000

Iowa Linn County Cedar Rapids 52404 Taylor

508 3rd Ave SW, Cedar Rapids, IA

Not Listed for Sale

MultiFamily

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