$2,136 Closing Credit¹
#2501900, Jeremy Trenkamp Real Estate Team, Listing Office: COLDWELL BANKER HEDGES CORRIDOR
$165,000 List price
512/514 Mckinley St SE Cedar Rapids, IA 52403
$1,959
Closing credit¹
3,670 sqft
0.1 acres
$45 / sqft
Multi-Family
Property details
About 512/514 Mckinley St SE
Investor Alert! High-CAP Multi-Family Opportunity in the Heart of the MedQuarter. Fully leased with month to month leases. Welcome to 512/514 McKinley Street SE—an exceptional multi-family investment opportunity located in Cedar Rapids’ sought-after MedQuarter district. This four-unit property offers a strong 17%+ CAP Rate, making it ideal for both seasoned and first-time investors. The property includes a mix of unit sizes to appeal to a wide tenant base, with three units currently rented. Tenants handle their own electric, while the landlord covers gas, water, garbage, and seasonal maintenance—simplifying management and increasing net returns. Situated in the MedQuarter, tenants enjoy unparalleled access to healthcare employers, downtown amenities, public transit, and the rapidly growing medical district—one of Cedar Rapids’ most dynamic and stable rental zones. The strategic location ensures strong rental demand and consistent occupancy. Make more property enhancement and increase your return even more! Property is being sold AS IS. Don’t miss your chance to add this high-performing asset to your portfolio!
Highlights
Home typeMulti Family
HeatingForced Air, Natural Gas
StatusActive
CoolingWall/Window Unit(s)
Size3,670 sqft
Lot size0.11 Acres
Year built1900
MLS #2501784
Virtual tour
Summary
- Heating: Forced Air, Natural Gas
- Cooling: Wall/Window Unit(s)
- List Price: $165,000
- Price/SqFt: $44
- Year Built: 1900
- Living Area: 3,670 SqFt
- Lot Size: 0.11 Acres
- MLS Number: 2501784
- MLS Name: CDR
- Office Name: Key Realty
- Office Phone: (319) 210-3533
- Office Email: cindy@keyiowa.com
- Listing Agent: Cindy Guckenberger
Provided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively 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 Is Believed To Be Accurate But Not Guaranteed.
Copyright 2025 Cedar Rapids Area Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/16/2025, 4:20:28 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$165,000
512/514 Mckinley St SE
$1,959
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
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Tax history
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Nearby schools
1
Johnson STEAM Academy
Public District KG-5
0.7 mi
•355 18th St SE
1
Grant Wood Elementary
Public District PK-5
1.2 mi
•645 26th St SE
1
Taylor Elementary
Public District PK-5
1.4 mi
•720 7th Ave SW
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $36,500. Most Cedar Rapids, IA residents have annual incomes less than $<35k. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
50%
<35k
38%
35k-100k
12%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
52%
Single, No Kids
21%
Single, with Kids
15%
Married, No Kids
12%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
19%
<11 yrs old
8%
12-17 yrs old
26%
18-34 yrs old
34%
35-64 yrs old
13%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
NHRA Drag Racing
Extreme Sports
Where do the neighbors shop?
Family Dollar
Big Lots
Sam's Club
Where do the neighbors go to eat?
White Castle
Golden Corral
Church's Chicken
What do the neighbors drive?
Chevrolet
Kia
Oldsmobile
What do the neighbors listen to?
Rock
Adult Standards
Urban Adult Contemporary
All data provided by Home Junction and Claritas
Similar homes for sale
This home is located at 512/514 Mckinley St SE in Cedar Rapids, IA and zip code 52403 in the Wellington Heights neighborhood. This 3,670 square foot home, which was built in 1900, sits on a 0.11 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since March 17, 2025 and is currently priced at $165,000.
Over 36 listings were sold over their listed price in April 2025 in Cedar Rapids, IA. In the same period over 77 listings were sold below the listed price and 47 listings were sold for the listed price. The number of listings in Cedar Rapids, IA decreased by 3% between March and April 2025. In April 2025, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $199,888.
From Rocket Homes Real Estate and based on county public records data.