$150,000
SOLD SEP 17, 2025

512 Mckinley St SE Cedar Rapids, IA 52403

Wellington Heights Neighborhood
-- Bed
-- Bath
3,670 Sq Ft
4,792 Sq Ft Lot

Recently Sold

$41 Per Sq Ft

9% Below List Price

134 Days on Market

Highlights

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

About This Home

As of September 2025

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 Agent to Sell the Property

Cindy Guckenberger

Key Realty Listed on: 03/16/2025

Last Buyer's Agent

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

Listing and Financial Details

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

Community Details

Overview

  • 4 Units

Pet Policy

  • No Pets Allowed

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
  • Reso Pets Allowed: No
  • Co List Office Phone: 319-210-3533
  • MLS Status: Closed
  • 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

Rental Info

  • Owner Pays: Gas, Water

Multi Family

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

Tax Info

  • Tax Annual Amount: 2458.0

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
09/17/2025 09/17/25 Sold $150,000 -9.1% $41 / Sq Ft
07/28/2025 07/28/25 Pending -- -- --
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®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2025

    Cindy Guckenberger

    Key Realty

    (319) 210-3533

    1 in this area

    32 Total Sales

    Cindy Guckenberger
    Section Image
  • Z Maryland

    Seller's Agent in 2024

    Z Maryland

    Pinnacle Realty LLC

    (319) 431-0382

    7 in this area

    98 Total Sales

    Z Maryland
    Section Image

  • M

    Buyer's Agent in 2024

    Mike Selling Team

    GRAF REAL ESTATE, ERA POWERED

    (319) 981-3702

    21 in this area

    643 Total Sales

    Mike Selling Team
    Section Image
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Map

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 $150,000, approximately $40 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 STEAM Academy, 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.

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