$165,000

512 Mckinley St SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood

Estimated payment $1,127/month

Total Views 1,942
-- Bed
-- Bath
3,670 Sq Ft
$45 Price per Sq Ft

Highlights

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • 4-minute walk to Wellington Park

About This Home

Investor Alert! High-CAP Multi-Family Opportunity in the Heart of the MedQuarter. Fully leased with month to month leases. Welcome to 512/514 McKinley Street SE—an exceptional multi-family investment opportunity located in Cedar Rapids’ sought-after MedQuarter district. This four-unit property offers a strong 17%+ CAP Rate, making it ideal for both seasoned and first-time investors. The property includes a mix of unit sizes to appeal to a wide tenant base, with three units currently rented. Tenants handle their own electric, while the landlord covers gas, water, garbage, and seasonal maintenance—simplifying management and increasing net returns. Situated in the MedQuarter, tenants enjoy unparalleled access to healthcare employers, downtown amenities, public transit, and the rapidly growing medical district—one of Cedar Rapids’ most dynamic and stable rental zones. The strategic location ensures strong rental demand and consistent occupancy. Make more property enhancement and increase your return even more! Property is being sold AS IS. Don’t miss your chance to add this high-performing asset to your portfolio!

Last Listed By

Cindy Guckenberger

Key Realty Listed on: 03/16/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,458

Year Built

  • Built in 1900

Lot Details

  • 4,792 Sq Ft Lot

Home Design

  • 3,670 Sq Ft Home
  • Frame Construction
  • Vinyl Siding

Schools

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

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Heating System Uses Gas

Community Details

  • 4 Units

Listing and Financial Details

  • The owner pays for gas, water
  • Assessor Parcel Number 142235202800000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,458

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • Lot Size Acres: 0.11
  • Co List Office Phone: 319-210-3533
  • MLS Status: Active
  • Directions: On McKinley St, CR
  • Year Built: 1900
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Type: Frame, Vinyl Siding

Utilities

  • Utilities: Separate Meters
  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Forced Air, Gas
  • HeatingYN: Yes
  • Water Source: Public

Schools

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

Lot Info

  • Lot Dimensions: 5000
  • ResoLotSizeUnits: Acres
  • Parcel Number: 142235202800000
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Gas, Water

Multi Family

  • Number Of Units Total: 4
  • Tenant Pays: Electricity

Tax Info

  • Tax Annual Amount: 2458.0

Map

Range of Values:

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Average Value
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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
05/05/2025 05/05/25 For Sale $165,000 0.0% $45 / Sq Ft
04/18/2025 04/18/25 Pending -- -- --
03/16/2025 03/16/25 For Sale $165,000 +35.2% $45 / Sq Ft
01/26/2024 01/26/24 Sold $122,000 -18.7% $24 / Sq Ft
12/18/2023 12/18/23 Pending -- -- --
09/27/2023 09/27/23 For Sale $150,000 -- $29 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2501784

Cedar Rapids Area Association of REALTORS®

Iowa Linn County Cedar Rapids 52403 Wellington Heights

512 Mckinley St SE, Cedar Rapids, IA

This home is located at 512 Mckinley St SE, Cedar Rapids, IA 52403 and is currently priced at $165,000, approximately $44 per square foot. This property was built in 1900. 512 Mckinley St 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.

Nearby Homes
Listing Agent
Cindy Guckenberger
Section Image
Key Realty
(319) 729-8189