This investment property is a five-unit multifamily building (5-plex) consisting of five one-bedroom units. Two of the units are equipped with in-unit laundry, while the remaining three tenants have access to a common laundry area located in the basement. The property has a solid rental history, with consistent occupancy and reliable tenants. The last city inspection was completed in July 2024, ensuring compliance with local housing codes and regulations. Each unit pays their own electric. Owner pays trash, water and common area electric.
For sale
Price cut: $8K (11/24)
$170,000
1249 3rd Ave SE, Cedar Rapids, IA 52403
--beds
--baths
2,776sqft
Est.:
Multi Family
Built in 1900
-- sqft lot
$-- Zestimate®
$61/sqft
$-- HOA
What's special
Common laundry areaIn-unit laundry
- 202 days |
- 197 |
- 10 |
Likely to sell faster than
Zillow last checked: 8 hours ago
Listing updated: November 24, 2025 at 10:33am
Listed by:
Beth Mackey 319-491-6388,
Realty87
Source: CRAAR, CDRMLS,MLS#: 2503728
Originating MLS: Cedar Rapids Area Association Of Realtors
Originating MLS: Cedar Rapids Area Association Of RealtorsTour with a local agent
Facts & features
Interior
Heating
- Electric
Cooling
- Wall/Window Unit(s)
Appliances
- Laundry: Common Area
Features
- Basement: Full
Interior area
- Total interior livable area: 2,776 sqft
Property
Parking
- Parking features: Parking Space(s)
Lot
- Size: 5,619.24 Square Feet
- Dimensions: 40 x 140
Details
- Parcel number: 142232600500000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Wood Siding
Condition
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Separate Meters
Community & HOA
Location
- Region: Cedar Rapids
Financial & listing details
- Price per square foot: $61/sqft
- Annual tax amount: $1,820
- Date on market: 5/22/2025
- Listing terms: Cash,Conventional
- Tenant pays: Electricity
Estimated market value
Not available
Estimated sales range
Not available
$1,134/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 11/24/2025 | Price change | $170,000-4.5%$61/sqft |
Source:  CRAAR, CDRMLS #2503728 Report a problem | ||
| 11/20/2025 | Price change | $178,000-1.1%$64/sqft |
Source: CRAAR, CDRMLS #2503728 Report a problem | ||
| 10/28/2025 | Price change | $180,000-2.7%$65/sqft |
Source: CRAAR, CDRMLS #2503728 Report a problem | ||
| 9/4/2025 | Price change | $185,000-5.1%$67/sqft |
Source: CRAAR, CDRMLS #2503728 Report a problem | ||
| 8/29/2025 | Price change | $195,000-2.5%$70/sqft |
Source: CRAAR, CDRMLS #2503728 Report a problem | ||
Public tax history
BuyAbility℠ payment
Est. payment
$943/mo
Principal & interest
$659
Property taxes
$224
Home insurance
$60
Climate risks
Neighborhood: Wellington Heights
Nearby schools
GreatSchools rating
- 1/10Johnson STEAM Academy SchoolGrades: K-5Distance: 0.5 mi
- 4/10Mckinley Middle SchoolGrades: 6-8Distance: 0.3 mi
- 3/10George Washington High SchoolGrades: 9-12Distance: 1.5 mi
Schools provided by the listing agent
- Elementary: Johnson
- Middle: McKinley
- High: Washington
Source: CRAAR, CDRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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