Turnkey Cash-Flowing Duplex – 1524 W 5th St
?Price: $150,000
Square Footage: 1,962 sq. ft.
Monthly Rent: $1,600 ($800/unit)
?Description: Incredible investment opportunity in Waterloo! This massive 1,962 sq. ft. duplex is fully occupied and generating immediate income. Both units are currently rented at $800/month, totaling $1,600 one has a PM so its just under 1,600 in gross monthly revenue.
?Seller Financing Available: Skip the bank! Seller is offering attractive financing terms to qualified buyers:
?20% Down Payment ($30,000)
?7% Interest Rate * Estimated P&I Payment: $798.36/mo
?With a total estimated monthly payment (including taxes/insurance) Must get insurance yourself right away. Roughly $1,083, this property nets over $500/month in cash flow. Perfect for a 1031 exchange or a hands-off investor looking for a strong cap rate.
?Key Features: * Fully Rented (Zero vacancy at close)
?Separate utilities
?Spacious 981 sq. ft. units
?Prime location near local amenities
?Would you like me to generate a few high-quality exterior photos of a Waterloo-style duplex to help visualize the listing?
For sale by owner
Street View
$150,000
1524 W 5th St, Waterloo, IA 50702
4beds
981sqft
Apartment
Built in 1915
-- sqft lot
$135,900 Zestimate®
$153/sqft
$-- HOA
What's special
Separate utilities
- 28 days |
- 349 |
- 4 |
Listed by:
Property Owner (319) 961-0665
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Forced air, Gas
Cooling
- Other
Appliances
- Included: Dryer, Freezer, Garbage disposal, Microwave, Range / Oven, Refrigerator, Washer
Features
- Flooring: Carpet, Hardwood
- Basement: Partially finished
Interior area
- Total interior livable area: 981 sqft
Property
Parking
- Parking features: Garage - Detached, Off-street
Features
- Exterior features: Other
Lot
- Size: 4,240 Square Feet
Details
- Parcel number: 891326358014
Construction
Type & style
- Home type: Apartment
Materials
- Frame
- Foundation: Concrete
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1915
Community & HOA
Community
- Features: On Site Laundry Available
Location
- Region: Waterloo
Financial & listing details
- Price per square foot: $153/sqft
- Tax assessed value: $116,790
- Annual tax amount: $2,247
- Date on market: 6/3/2026
Estimated market value
$135,900
$118,000 - $154,000
$1,166/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/2/2026 | Listed for sale | $150,000+27.7%$153/sqft |
Source: Owner Report a problem | ||
| 4/15/2024 | Sold | $117,500-5.9%$120/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20240953 Report a problem | ||
| 3/17/2024 | Pending sale | $124,900$127/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20240953 Report a problem | ||
| 3/13/2024 | Listed for sale | $124,900+60.1%$127/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20240953 Report a problem | ||
| 12/7/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 11/29/2021 | Listed for rent | $700$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 11/9/2021 | Sold | $78,000-8.1%$80/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20214700 Report a problem | ||
| 9/29/2021 | Pending sale | $84,900$87/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20214700 Report a problem | ||
| 9/28/2021 | Listed for sale | $84,900-17.2%$87/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20214700 Report a problem | ||
| 7/15/2005 | Sold | $102,500$104/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,247 +8.5% | $116,790 +12.8% |
| 2024 | $2,070 +14% | $103,570 |
| 2023 | $1,816 +3.1% | $103,570 +25.3% |
| 2022 | $1,762 +0.9% | $82,670 +0.3% |
| 2021 | $1,746 +1.6% | $82,400 +6.9% |
| 2020 | $1,718 -0.9% | $77,090 |
| 2019 | $1,733 +0.8% | $77,090 |
| 2018 | $1,719 +0% | $77,090 |
| 2017 | $1,718 -2.1% | $77,090 -0.2% |
| 2016 | $1,754 | $77,280 |
| 2015 | $1,754 +8.3% | $77,280 +7.4% |
| 2014 | $1,620 -7.1% | $71,960 -12.9% |
| 2012 | $1,743 -8% | $82,600 |
| 2011 | $1,895 +3.3% | $82,600 -9.7% |
| 2010 | $1,835 +2.8% | $91,460 |
| 2009 | $1,785 +2.2% | $91,460 |
| 2008 | $1,747 +1.7% | $91,460 +7% |
| 2007 | $1,718 -0.5% | $85,480 |
| 2006 | $1,727 +19.2% | $85,480 |
| 2005 | $1,448 +8.1% | $85,480 +40.1% |
| 2003 | $1,339 +8.2% | $61,030 +2.2% |
| 2002 | $1,238 +11.3% | $59,710 +18% |
| 2001 | $1,112 | $50,600 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: Church Row Historic
Nearby schools
GreatSchools rating
- 3/10Irving Elementary SchoolGrades: K-5Distance: 0.3 mi
- 1/10Central Middle SchoolGrades: 6-8Distance: 2.4 mi
- 3/10West High SchoolGrades: 9-12Distance: 1 mi
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A local lender can help you make sure your offer is ready when you are.
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