Four-Unit Property with Detached
New
For Sale
$265,000
1550 Dows St., Ely, IA 52227
Residential, Ely, IA
Property SizeContact for details
Days on Market3
Property Features for 1550 Dows St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MR R3+
Bathrooms
1
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Parking
3
Parking features
Garage
Interior features
LivingRoomDiningRoomCombo
Appliances
Dishwasher, RangeOrOven, Refrigerator
Subdivision
unk
Elementary school
CollegeComm
Middle school
CollegeComm
Directions
Ely Rd. (State St.) to North on Dows St. property on the right
Standard status
Active
APN
183113500300000
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2898
Utilities
Heating system
Electric (Heating)
Amenities
balcony
yard
Building Details
Year built
1904
Floors in Building
2
Flooring type
Laminate, Carpet
Building materials
Vinyl, Frame
Architectural style
Other
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Paul Park
(319) 333-9424
Added: Sep 5
Last Checked: Sep 7 at 3:06PM
MLS# 202605378
Copyright © 2026 Iowa City 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.
Investment Insights
Based on property information with market context.
Built in 1904, this quadplex at 1550 Dows St. includes four one-bedroom, one-bathroom residences with combined living and dining areas. Unit features include dishwashers, ranges, refrigerators, laminate and carpet flooring, vinyl and frame construction, and electric heating. New stairs and a balcony add recent exterior improvements.
The property also includes a detached three-car garage with stalls rented separately, along with additional yard space. It is located in Ely’s Old Town District, within walking distance of bars and restaurants and a short drive from Cedar Rapids Airport and Airport National Golf Course. The property is zoned MR R3+ and has four long-term tenants with leases in place through April 2027.
The property also includes a detached three-car garage with stalls rented separately, along with additional yard space. It is located in Ely’s Old Town District, within walking distance of bars and restaurants and a short drive from Cedar Rapids Airport and Airport National Golf Course. The property is zoned MR R3+ and has four long-term tenants with leases in place through April 2027.
Key Highlights
- Four 1‑bed, 1‑bath units
- Four long‑term tenants with leases in place until April of 2027
- Detached 3 car garage stalls rented individually
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 52227, IA
3,089
Population
1,121
Households
2.8
Avg Household Size
37
Median Age
36%
College-Educated
97%
High-School Grad
29.4 sq mi
ZIP Area
105
Density / Sq Mi
$111,000
Median Household Income
$55,861
Median Earnings
$973
Median Rent
$299,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units are supported by individually rented garage stalls and leases extending through April 2027.
Where is this quadplex located?
The property is located at 1550 Dows St. Ely, IA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Four 1‑bed, 1‑bath units; Four long‑term tenants with leases in place until April of 2027; Detached 3 car garage stalls rented individually
