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514 16th St NE Cedar Rapids, IA 52402 • Multi Unit - Multiple • Active

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New - 18 Hours Ago
  • 514 16th St NE , Cedar Rapids, IA 52402 Main Photo

Description

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.

Property Highlights

Property Type: Multi Unit - Multiple

General Information

Sqft: 2,116
County: Linn
High School: Washington
Listed By:
Creative Real Estate Iowa 319-206-9706 Jack Brundell
Cedar Rapids MLS
$130,000
Est. $888/mo
2,116sqft
New to the Market Active
BEDS0 BATHS SQUARE FEET2,116 MLS#2601574
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLCedar Rapids
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Agent Name: Adam Edstrom
 Agent Phone: (563) 210-6814
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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514 16th St NE , Cedar Rapids, IA 52402.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $130,000$130,000$130,000
Down Payment $26,000$4,550$32,500
Monthly Mortgage Amount $607$735$790
Taxes $181$181$181
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$57$0
Monthly Estimated Total $888$1,073$1,071

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers 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 on this site was last updated 03/10/2026. The listing information on this page last changed on 03/10/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Tue 03/10/2026 4:50:39 AM EST) or MRED MLS (last updated Tue 03/10/2026 2:04:18 AM EST) or SCWMLS (last updated Mon 03/09/2026 11:54:54 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Mon 03/09/2026 10:16:42 PM EST) or Cedar Rapids MLS (last updated Mon 03/09/2026 10:44:24 PM EST) or NEIRBR MLS (last updated Tue 03/10/2026 1:18:49 AM EST) or ICAAR MLS (last updated Mon 03/09/2026 11:37:35 PM EST) or ECIMLS (last updated Mon 03/09/2026 11:44:26 PM EST) or RMLSA (last updated Tue 03/10/2026 1:11:04 AM EST) or Muscatine MLS (last updated Tue 03/10/2026 2:00:29 AM EST) or No Coast MLS (last updated Tue 03/10/2026 12:44:28 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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