Excellent investment opportunity at 507 Kimball Rd in Iowa City! This fully occupied duplex offers immediate rental income with both units leased through July 2027. The upper unit rents for $875/month, with the tenant responsible for all utilities. The lower unit rents for $1,300/month, with the tenant responsible for… Read More all utilities except water and trash. Combined gross rental income is $2,175 per month, or $26,100 annually. With long-term leases already in place, this property provides an attractive opportunity for an investor looking to add a stabilized, income-producing property to their portfolio. Landlord responsibilities include water and trash for the lower unit, along with lawn care and snow removal for the property. Convenient Iowa City location with established rental income from day one. A great option for investors seeking a fully leased duplex with predictable cash flow. Advance notice for tenants required. Buyer to verify sq footage and schools. Buyer must be willing to participate in 1031 exchange. Read Less
Courtesy of Affinity Real Estate Services, 319-393-0814
Listing Snapshot
Days Online
28
Last Updated
Property Type
MultiFamily
Year Built
1920
MLS Number
202605470
30 Days Snapshot Of 52246
$397k
+15%
(avg) sold price
12
-45%
homes sold
81
+19%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Appliances: RangeOrOven, Refrigerator
Basement
Basement: Partial
Building
Built in 1920, Construction Materials: Other, Frame, Below Grade Finished Area: 0, Architectural Style: TwoStories
Exterior Features
Exterior Features: Balcony
Fireplaces
Features: Other
Floors
Flooring: Carpet, Vinyl
Heating
Heating: NaturalGas, ForcedAir
Home Owner's Association
Fee Frequency: Annually
Interior Features
Features: Other
Laundry
Features: InBasement
Lot
Dimensions: 52x70
Parking
Features: AttachedGarage
Property
Zoning: Residential, Parcel Number: 1003403019
Taxes
Annual Tax Amount: $3,888, Tax Year: 2025
Utilities
Utilities: CitySewer, CityWater
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