About This Home

This 2-bedroom, 0-bathroom residential multi family at 1320 1st Avenue NW in Cedar Rapids, IA is listed for $150,000 ($64 per sqft). Built in 1904, the home offers 2,361 sqft of living space on a 0.16 acres lot.

Key Features

  • Built in 1904
  • 0.16 acre lot

Property Details

1904
Listing Description

A great opportunity to add to your investment portfolio! This fully leased fourplex offers an attractive cap rate and an annual NOI of over $20,000. The property features two one-bedroom units, two efficiency units, and a large garage that is leased separately.

All four units are currently occupied with month-to-month leases, providing flexibility for the next owner. Current monthly rents are $600, $700, $700, and $795, with an additional $100 per month for the garage. Utilities are collectively metered and currently paid by the landlord. All showings require a minimum of 48 hours' notice.

Monthly Cost Estimate

$802/mo

20% down · 6.5% · 30 years

Principal$108
Interest$650
Insurance$44

Estimates only. Actual payments may vary.

Location

1320 1st Avenue NW

Cedar Rapids, IA 52405

Property Details

Construction

Frame

Questions & Answers

This 2-bedroom, 0-bathroom residential multi family at 1320 1st Avenue NW is listed at $150,000 ($64/sqft). The estimated monthly payment is $802 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1904, 0.16 acre lot.

This property is listed by Tyler Donahue.

TD

Tyler Donahue

Agent at Coldwell Banker Hedges

Listed by Coldwell Banker Hedges · Broker phone: (319) 367-8760 · View on Broker Site · Broker website

MLS# 2607588· Source: Cedar Rapids Area Association of REALTORS®· 2 days on PropertySimple

Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

1320 1st Avenue NW, Cedar Rapids, IA 52405

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