S
Seller's Agent in 2025
Shannon Annis
Affinity Real Estate Services
(319) 310-3755
1 in this area
1 Total Sale
605 4th St SW Cedar Rapids, IA 52404
Taylor Neighborhood
--
Bed
--
Bath
1,720
Sq Ft
3,223
Sq Ft Lot
Highlights
- No HOA
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
About This Home
As of September 2025Fantastic Investment Opportunity! Fully Occupied 4-Unit Building
This well-maintained four-plex is fully rented and generating income from day one! Current rents are $500, $435, $440, and $440 per month, with tenants responsible for all utilities—keeping your overhead low.
Why You’ll Love It:
Affordable entry into multi-family investing
Solid rental history with consistent occupancy
Tenants pay all utilities
Value-Add Potential:
Take this property to the next level by adding features like dishwashers, mini-split systems, or in-unit laundry to increase value and maximize rental income.
You won’t find another 4-plex at this price point and condition—don’t miss your chance to own a cash-flowing asset!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,910
Year Built
- Built in 1900
Lot Details
- 3,223 Sq Ft Lot
Home Design
- 1,720 Sq Ft Home
- Poured Concrete
- Frame Construction
- Vinyl Siding
Schools
- Cedar River Academy Elementary School
- Wilson Middle School
- Jefferson 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, gas, water
- Assessor Parcel Number 14283-28006-00000
Community Details
Overview
- No Home Owners Association
- 4 Units
Pet Policy
- Pets Allowed
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jul 5, 2019
Sold by
Verdeck Leonard F and Verdeck Mary Ann
Bought by
Iowa Corridor Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Outstanding Balance
$65,814
Interest Rate
3.9%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$66,933
Purchase Details
Closed on
Oct 24, 1997
Sold by
Berstler Michael A and Berstler Jamie L
Bought by
Verdeck Leonard F and Verdeck Mary Ann
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 | $75,000 | None Available | |
| Warranty Deed | $27,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $75,000 | Future Advance Clause Open End Mortgage |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/22/2025 09/22/25 | Sold | $129,000 | -4.4% | $75 / Sq Ft |
| 08/25/2025 08/25/25 | Pending | -- | -- | -- |
| 07/18/2025 07/18/25 | For Sale | $135,000 | -- | $78 / 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 |
|---|---|---|---|---|
| 2025 | $1,910 | $119,300 | $19,800 | $99,500 |
| 2024 | $2,122 | $107,900 | $18,200 | $89,700 |
| 2023 | $2,122 | $107,900 | $18,200 | $89,700 |
| 2022 | $2,004 | $100,600 | $15,200 | $85,400 |
| 2021 | $2,130 | $82,100 | $15,200 | $66,900 |
| 2020 | $2,130 | $80,700 | $13,700 | $67,000 |
| 2019 | $1,744 | $61,400 | $13,700 | $47,700 |
| 2018 | $1,822 | $61,400 | $13,700 | $47,700 |
| 2017 | $1,358 | $48,500 | $13,700 | $34,800 |
| 2016 | $1,358 | $41,200 | $11,600 | $29,600 |
| 2015 | $1,560 | $45,395 | $11,628 | $33,767 |
| 2014 | $1,560 | $42,986 | $4,406 | $38,580 |
| 2013 | $1,564 | $42,986 | $4,406 | $38,580 |
Source: Public Records
Agents Affiliated with this Home
-
Shannon Annis
-
Liz Allen
L
Seller Co-Listing Agent in 2025
Liz Allen
Affinity Real Estate Services
(319) 259-2204
1 in this area
1 Total Sale
Map
Source: Cedar Rapids Area Association of REALTORS®
MLS Number: 2506245
APN: 14283-28006-00000
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