This Fantastic 4-plex is located in the heart of Ely's Old Town District! Spacious 1 bed 1 bath units and 4 long term tenants with leases in place until April of 2027. New stairs and balcony! The charming and growing community of Ely is situated between two strong employment centers in Cedar Rapids and Iowa City resulting in a ton of future potential. Detached 3 car garage stalls are rented on an individual basis and property includes an extra yard space, or potential for expansion. A short drive to Cedar Rapids Airport & Airport National Golf Course, and a short walk to bars and restaurants. This well maintained investment property won't last long. Call for a showing today!
This Fantastic 4-plex is located in the heart of Ely's Old Town District! Spacious 1 bed 1 bath units and 4 long term tenants with leases in place until April of 2027. New stairs and balcony! The charming and growing community of Ely is situated between two strong employment centers in Cedar Rapids and Iowa City resulting in a ton of future potential. Detached 3 car garage stalls are rented on an individual basis and property includes an extra yard space, or potential for expansion. A short drive to Cedar Rapids Airport & Airport National Golf Course, and a short walk to bars and restaurants. This well maintained investment property won't last long. Call for a showing today!
CRAAR, CDRMLS #2500273
Mar 7, 2025
Sold
$225,000
$91/sq ft
Jan 19, 2025
Pending
—
Jan 15, 2025
Listed
$225,000
$91/sq ft
This is a fantastic investment opportunity located in a prime area of downtown Ely. Fully leased with growth potential and long-term tenants. The units are well-maintained and the property offers three garage stalls which are currently leased. Don't miss this!
Public Records
Aug 3, 2021
Sold
$175,000
$71/sq ft
Public Records
Mar 1, 2003
Sold
$125,000
$51/sq ft
Year
Property tax
Land + Additions
Assessment*
2022
$2,700 (+7.1%)
$21,400 + $150,400
$171,800
2021
$2,522
$10,700 + $110,100
$120,800
Public record
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
6,000 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
2,474
Year built
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Style
Other
County
Linn County
APN
18311-35003-00000
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Oct 2, 2023.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 103° expected this year, 15 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Ely, IA • 52227
Average low and high temperatures (°F)
29
12
38
19
57
33
64
44
74
51
83
63
86
68
81
63
81
57
70
47
50
34
35
20
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1550 Dows St
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