For sale

$265,000

1550 Dows St, Ely, IA 52227

--beds

1baths

2,474sqft

$1,962/mo

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Multi Family, Residential

Built in 1904

-- sqft lot

$261,000 Zestimate^®

$107/sqft

$-- HOA

What's special

New stairs and balconyExtra yard space

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!

6 days
311
20

Facts & features

Interior

Bedrooms & bathrooms

Bathrooms: 1

Rooms

Room types: Living Room Dining Room Combo

Heating

Electric

Appliances

Included: Dishwasher, Range Or Oven, Refrigerator
Laundry: None

Features

Other
Flooring: Carpet, Laminate
Basement: Unfinished
Has fireplace: No
Fireplace features: None

Interior area

Total structure area: 2,474
Total interior livable area: 2,474 sqft
Finished area above ground: 2,474
Finished area below ground: 0

Property

Parking

Total spaces: 3
Parking features: Garage
Has garage: Yes

Features

Levels: Two
Stories: 2
Exterior features: Other

Lot

Size: 6,000 Square Feet
Dimensions: 40 x 150

Details

Parcel number: 183113500300000
Zoning: MR R3+
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family, Residential

Materials

Vinyl, Frame

Condition

Year built: 1904

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Sidewalks, Street Lights, Near Shopping
Security: Carbon Monoxide Detector(s), Smoke Detector(s)
Subdivision: unk

HOA

Has HOA: Yes
Services included: Other

Location

Region: Ely

Financial & listing details

Price per square foot: $107/sqft
Annual tax amount: $2,898
Date on market: 9/5/2026
Listing terms: Cash,Conventional

Estimated market value

$261,000

$248,000 - $274,000

$960/mo

Price history

Date	Event	Price
9/5/2026	Listed for sale	$265,000+17.8%$107/sqft
Source: CRAAR, CDRMLS #2606246 Report a problem
3/7/2025	Sold	$225,000$91/sqft
Source: CRAAR, CDRMLS #2500273 Report a problem
1/20/2025	Pending sale	$225,000$91/sqft
Source: CRAAR, CDRMLS #2500273 Report a problem
1/15/2025	Listed for sale	$225,000$91/sqft
Source: CRAAR, CDRMLS #2500273 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

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.

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Climate risks

Neighborhood: 52227

Getting around

31 / 100

Car-Dependent

45 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

4/10
Prairie Creek Intermediate School
Grades: 5-6Distance: 3.9 mi
5/10
Prairie Point Middle School
Grades: 7-9Distance: 4.1 mi
6/10
Prairie High School
Grades: 9-12Distance: 4.3 mi

Schools provided by the listing agent

Elementary: CollegeComm
Middle: CollegeComm
High: Prairie

Source: Iowa City Area AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.