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    Cedar Rapids Multifamily Investment Title is generated by Realmo AI

    366 7TH Avenue SW, Cedar Rapids, IA 52404

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    Claim this Listing
    For Sale
    $160,000

    MULTI_FAMILY - Cedar Rapids, IA

    Property size:
    1,352 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $118/SF
    Added:
    Mar 30, 2026
    Days on Market:
    90
    Last Refresh:
    Jun 27 at 5:06 pm

    Property Features for 366 7TH Avenue SW

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Res
    Bedrooms
    4
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1
    Parking
    3
    Standard status
    Active
    APN
    14283-28010-00000
    Size
    1,352 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    MURRAY'S 3RD LOT 5 & S 50' E 7.5' STR/LB 6 14 or as per abstract
    Tax Annual Amount
    1910

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Frame

    We can help!

    Contact an agent
    Kristie Freese

    Listing agent Kristie Freese

    Listing office Keller Williams Legacy Group 4850 Armar Dr SE Ste B, Cedar Rapids, IA

    Listing date Mar 30, 2026

    MLS# 2602134 Listing URL

    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.

    HighLights

    • 2‑unit multifamily property with 2 beds and 1 bath in each unit
    • Consistently occupied with long‑term tenants
    • Frame construction
    • Year built: 1900
    • Includes 4 bedrooms total across the property (Bedroom 1 through Bedroom 4)

    Overview

    This well-maintained 2-unit multifamily property in Cedar Rapids, Iowa, presents a compelling investment opportunity suitable for both experienced and new real estate investors. The property, situated on a lot of 0.179 acres, offers immediate cash flow potential and long-term appreciation. Each of the two units features a functional layout that includes 2 beds and 1 bath. The 1,352 square feet property has been consistently occupied by long-term tenants, providing reliable rental income. Updates have been made to the property over time. There is potential for increased income through rent optimization.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $18.2k $13.44
    − Vacancy −$1.3k −$0.96
    EGI $16.9k $12.48
    − OpEx −$5.1k −$3.74
    NOI $11.8k $8.74
    1,352 SF · lease $13.44/SF/yr · vacancy 7.12% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $168.8K
    $147.7K – $196.9K (±1% cap)
    NOI $11,814 @ 7.0% cap · market cap 7.38%
    Second Best
    Apartment 5plus
    $155.6K
    $136.2K – $181.6K (±1% cap)
    NOI $10,895 @ 7.0% cap · market cap 6.81%
    Theoretical Best
    Specialty Retail
    $195.7K
    $171.2K – $228.3K (±1% cap)
    NOI $13,697 @ 7.0% cap · market cap 8.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.674238
    Latitude
    41.969544

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with immediate cash flow and long-term appreciation.
    Where is this duplex located?
    The property is located at 366 7TH Avenue SW Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $160,000.
    What are key features of this property?
    This property features: 2‑unit multifamily property with 2 beds and 1 bath in each unit; Consistently occupied with long‑term tenants; Frame construction
    (319) 423-4139
    We can help!
    Contact an agent
    Kristie Freese
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