$259,000
2.0 Units
MLS: 202605470
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 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.
MLS #: 202605470
Price: $259,000
Year Built: 1920
Income/Yr: $26,100.00
Expense/Yr: $0.00
Parking: Attached Garage
Basement: Partial
Total Sq Ft: 1527
Electric Expense: $0.00
Gas Annually: $0.00
Maint Expense: $1,200.00
Insurance Expense: $1,900.00
Gross Tax: $3,888.00
Units: 2.0
Laundry: In Basement
Energy Generation:
Heat/Cooling: Natural Gas, Forced Air
Elementary: Shimek
Middle: Southeast
High: City
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: Affinity Real Estate Services - Agent: Bryant Nicholson - Information furnished by Iowa City Area Association of Realtors