$210,000
SOLD NOV 26, 2024

941 M St SW Unit 1-4 Cedar Rapids, IA 52404

Taylor Neighborhood
-- Bed
-- Bath
2,400 Sq Ft
8,102 Sq Ft Lot

Recently Sold

$88 Per Sq Ft

5% Below List Price

25 Days on Market

Highlights

  • Deck
  • Patio
  • Forced Air Heating and Cooling System
  • No HOA

About This Home

As of November 2024

Welcome to 941 M St SW, a fantastic investment property in Cedar Rapids. This fully occupied fourplex features four 2-bedroom, 1-bathroom units, each offering 600 square feet of well-maintained living space. Each unit provides a cozy yet functional layout, ideal for tenants seeking affordable living in a convenient location.

This property is an excellent addition to any investor's portfolio, generating consistent rental income from long-term tenants. Located in a growing area with easy access to local amenities, schools, and public transportation, this fourplex is perfectly situated for continued demand.

With all units currently occupied, this is a turn-key investment opportunity you won’t want to miss!

Last Agent to Sell the Property

Josh Klindt

Keller Williams Legacy Group Listed on: 09/19/2024

Keller Williams Legacy Group

Co-Listed By

Kellen Showen

Keller Williams Legacy Group

Last Buyer's Agent

Ashley Rance

Keller Williams Legacy Group

Keller Williams Legacy Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,074

Year Built

  • Built in 1923

Home Design

  • Frame Construction
  • Vinyl Siding

Interior Spaces

  • 2,400 Sq Ft Home
  • Partial Basement

Outdoor Features

  • Deck
  • Patio

Schools

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

Additional Features

  • 8,102 Sq Ft Lot
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Assessor Parcel Number 14283-78006-00000

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Pet Policy

  • Pets Allowed

Building Details

  • Operating Expense $16,000
  • Gross Income $33,240
  • Net Operating Income $17,326

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,074

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • Lot Size Acres: 0.186
  • Reso Pets Allowed: Yes
  • Co List Office Mls Id: CKWLG02
  • Co List Office Phone: 319-423-4139
  • Co List Office Phone: 319-423-4139
  • MLS Status: Closed
  • Directions: South on L st, west on 10th ave, south on M st, property on left.
  • Year Built: 1923
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Partial
  • Basement: Yes

Exterior Features

  • Construction Type: Frame, Vinyl Siding
  • Patio And Porch Features: Deck, Patio

Garage/Parking

  • Parking Features: Parking Space(s)
  • Total Parking Spaces: 8.0

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air
  • HeatingYN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

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

Lot Info

  • Lot Dimensions: 8100
  • ResoLotSizeUnits: Acres
  • Parcel Number: 14283-78006-00000
  • ResoLotSizeUnits: Acres

Multi Family

  • Gross Income: 33240.0
  • Net Operating Income: 17326.0
  • Number Of Units Total: 4
  • Annual Operating Expense: 16000.0
  • Tenant Pays: Electricity, Gas, Water

Tax Info

  • Tax Annual Amount: 3074.0

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 List to Sale Price per Sq Ft
11/26/2024 11/26/24 Sold $210,000 -4.5% $88 / Sq Ft
10/14/2024 10/14/24 Pending -- -- --
09/19/2024 09/19/24 For Sale $220,000 -- $92 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Josh Klindt

    Seller's Agent in 2024

    Josh Klindt

    Keller Williams Legacy Group

    (319) 721-2341

    1 in this area

    30 Total Sales

    Josh Klindt
    Section Image

  • K

    Seller Co-Listing Agent in 2024

    Kellen Showen

    Keller Williams Legacy Group

    (319) 329-9015

    1 in this area

    23 Total Sales

    Kellen Showen
    Section Image

  • A

    Buyer's Agent in 2024

    Ashley Rance

    Keller Williams Legacy Group

    (319) 693-9966

    1 in this area

    41 Total Sales

    Ashley Rance
    Section Image
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Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2406464

Cedar Rapids Area Association of REALTORS®
Iowa Linn County Cedar Rapids 52404 Taylor

941 M St SW Unit 1-4, Cedar Rapids, IA

This home is located at 941 M St SW Unit 1-4, Cedar Rapids, IA 52404 and is currently priced at $210,000, approximately $87 per square foot. This property was built in 1923. 941 M St SW Unit 1-4 is a home located in Linn County with nearby schools including Cedar River Academy at Taylor Elementary School, Wilson Middle School, and Thomas Jefferson 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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