Excellent investment opportunity at 507 Kimball Rd in Iowa City! This fully occupied duplex offers immediate rental income with both units leased through July 2027. The upper unit rents for $875/month, with the tenant responsible for all utilities. The lower unit rents for $1,300/month, with the tenant responsible for all utilities except water and trash. Combined gross rental income is $2,175 per month, or $26,100 annually. With long-term leases already in place, this property provides an attractive opportunity for an investor looking to add a stabilized, income-producing property to their portfolio. Landlord responsibilities include water and trash for the lower unit, along with lawn care and snow removal for the property. Convenient Iowa City location with established rental income from day one. A great option for investors seeking a fully leased duplex with predictable cash flow. Advance notice for tenants required. Buyer to verify sq footage and schools. Buyer must be willing to participate in 1031 exchange.
For sale
$259,000
507 Kimball Rd, Iowa City, IA 52245
--beds
--baths
1,527sqft
Multi Family, Residential
Built in 1920
-- sqft lot
$256,100 Zestimate®
$170/sqft
$-- HOA
What's special
- 45 days
- 526
- 30
Zillow last checked:
Listing updated:
Listed by:
Bryant Nicholson 319-853-3555,
Affinity Real Estate Services
Source: Iowa City Area AOR,MLS#: 202605470
Facts & features
Interior
Heating
- Natural Gas, Forced Air
Appliances
- Included: Range Or Oven, Refrigerator
- Laundry: In Basement
Features
- Other
- Flooring: Carpet, Vinyl
- Basement: Partial
- Has fireplace: Yes
- Fireplace features: Other
Interior area
- Total structure area: 1,527
- Total interior livable area: 1,527 sqft
- Finished area above ground: 1,527
- Finished area below ground: 0
Property
Parking
- Total spaces: 4
- Parking features: Garage - Attached
- Has attached garage: Yes
Features
- Levels: Two
- Stories: 2
- Exterior features: Balcony
Lot
- Size: 3,640 Square Feet
- Dimensions: 52 x 70
Details
- Parcel number: 1003403019
- Zoning: Residential
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Residential
Materials
- Other, Frame
Condition
- Year built: 1920
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Other
- Security: Smoke Detector(s)
- Subdivision: Unknown
Location
- Region: Iowa City
Financial & listing details
- Price per square foot: $170/sqft
- Tax assessed value: $217,630
- Annual tax amount: $3,888
- Date on market: 9/10/2026
- Listing terms: Cash,Conventional
Estimated market value
$256,100
$243,000 - $269,000
$1,689/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/10/2026 | Listed for sale | $259,000+72.7%$170/sqft |
Source: | ||
| 11/28/2019 | Listing removed | $775$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 10/30/2019 | Listed for rent | $775+1.3%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 11/29/2018 | Listing removed | $765$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 10/25/2018 | Listed for rent | $765$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 9/18/2017 | Sold | $150,000-2.6%$98/sqft |
Source: | ||
| 8/10/2017 | Listed for sale | $153,995+14.1%$101/sqft |
Source: Owner Report a problem | ||
| 12/6/2016 | Sold | $135,000-1.8%$88/sqft |
Source: | ||
| 11/18/2016 | Pending sale | $137,500$90/sqft |
Source: Lepic-Kroeger, REALTORS #20163775 Report a problem | ||
| 10/14/2016 | Price change | $137,500-16.6%$90/sqft |
Source: Lepic-Kroeger, REALTORS #20163775 Report a problem | ||
| 6/20/2016 | Price change | $164,900-5.2%$108/sqft |
Source: Lepic-Kroeger, REALTORS #20163775 Report a problem | ||
| 5/18/2016 | Listed for sale | $173,900+24.2%$114/sqft |
Source: Lepic-Kroeger, REALTORS #20163775 Report a problem | ||
| 6/13/2006 | Sold | $140,000$92/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,724 +1.2% | $217,630 +11.3% |
| 2024 | $3,678 +5.1% | $195,530 |
| 2023 | $3,500 +4.7% | $195,530 +21.1% |
| 2022 | $3,344 +1.1% | $161,460 |
| 2021 | $3,308 +1.8% | $161,460 +5.5% |
| 2020 | $3,248 +5.8% | $153,030 |
| 2019 | $3,070 | $153,030 +9.5% |
| 2018 | $3,070 +1.1% | $139,710 |
| 2017 | $3,038 +0.4% | $139,710 +1.5% |
| 2016 | $3,026 +2% | $137,640 |
| 2015 | $2,966 +4% | $137,640 +4.4% |
| 2014 | $2,852 | $131,840 |
| 2012 | -- | $131,840 |
| 2011 | -- | $131,840 +0.2% |
| 2009 | -- | $131,580 |
| 2008 | -- | $131,580 +14.1% |
| 2005 | $2,122 +2.5% | $115,360 |
| 2004 | $2,070 +0.9% | $115,360 +7.6% |
| 2003 | $2,052 +3.5% | $107,260 |
| 2002 | $1,982 +14.3% | $107,260 +14.1% |
| 2001 | $1,734 | $93,980 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Shimek
Nearby schools
Schools provided by the listing agent
- Elementary: Shimek
- Middle: Southeast
- High: City
Source: Iowa City Area AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.




