514 16th St Ne, Cedar Rapids, IA 52402

Cedar Rapids
Local realty services provided by:Graf Real Estate ERA Powered
514 16th St Ne,Cedar Rapids, IA 52402
$130,000
Virtual Tour
  • - Beds
  • - Baths
  • 2,116 sq. ft.
  • Multi-family
  • Active
Listed by: jack brundell
Office: creative real estate iowa
MLS#:2601574
Source:IA_CRAAR

Price summary

  • Price:$130,000
  • Price per sq. ft.:$61.44

About this home

This duplex is being offered at an estimated 12% cap rate based on current income and expenses, supported by city averages and signed leases. The property is currently configured as one year-leased 4-bedroom unit (leased at $1575 non subsidized) and one efficiency unit (leased at $525), which has been there for 10+ years, but could easily be converted into one 2-bedroom unit and one 2–3 bedroom unit. The unfinished attic also provides additional potential for future living space. The property sits well with excellent natural water drainage. Conveniently located close to downtown, two colleges, and highway access, making tenant demand strong and vacancy concerns minimal. Total gross income totals $25,200, with expenses totalling $9258. Currently, all utilities are in the owner's name, but could be split up to reduce expenses.

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Home facts

  • Year built:1910
  • Listing ID #:2601574
  • Added:20 day(s) ago
  • Updated:March 29, 2026 at 11:44 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Full
  • Living area:2,116 sq. ft.

Heating and cooling

  • Heating:Gas
  • Central air:Yes

Structure and exterior

  • Year built:1910
  • Building area:2,116 sq. ft.
  • Lot area:0.06 Acres
  • Construction Materials:Frame

Schools

  • High school:Washington
  • Middle school:Franklin
  • Elementary school:Trailside

Utilities

  • Water:Public

Finances and disclosures

  • Price:$130,000
  • Price per sq. ft.:$61.44
  • Tax amount:$1,957

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