514 16th St Ne Cedar Rapids, IA 52402

This duplex offers excellent flexibility for a new owner with existing leases in place. One unit features a newly signed one-year lease at $1,575 per month, while the second unit—occupied by a long-term tenant of over 10 years—currently rents for $525 per month. The lower-rent unit presents a strong... value-add opportunity and could be converted into a furnished rental for traveling nurses or data-center professionals to significantly increase cash flow. The property sits high on the lot, providing excellent water drainage away from the foundation. The owner currently covers utilities; however, an additional value-add opportunity exists by separating the electric meters, finishing the attic, or making the efficiency unit a 1 or 2 bed unit down the road. Continue reading