514 16th St NE, Cedar Rapids, IA 52402

• 2,116 sqft

Property 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.

Listing Status:

Active

Date Added:

March 9, 2026

Data Last Updated:

May 21, 2026 at 7:19AM

Listing Office:

Creative Real Estate Iowa : 319-206-9706

Listing Agent:

Jack Brundell : 319-206-9706

MLS ID:

2601574

Interior

• Basement: Full
• A/C: Central Air
• Heating: Forced AirGas

Construction

• General: Frame

Location

• Originating MLS: CDR_CDR
• County: Linn

Lot

• Zoning: Per Abstract14153-56013-00000

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: CDR_CDR