Seller offering $5,000 credit towards rate buy down, closing costs or possible updates. Large tri-plex located just seven blocks from downtown Grinnell and Grinnell College makes this investment property is a great opportunity for new or seasoned investors. Currently vacant for the next owner to choose tenants. The most recent (2025) monthly rents were $1,000 (main floor 2 bed/1 bath, $950 (upper 3 bed/1 bath), and $825 (lower level 1 bed/1bath). Each level is it's own unit. There is off street parking available and a large lot present space to build a garage. Upper unit has no photos yet. Call today to schedule a private showing.
Active
Price cut: $4.5K (6/2)
$133,500
1604 5th Ave, Grinnell, IA 50112
--beds
0baths
2,435sqft
Triplex
Built in 1900
-- sqft lot
$-- Zestimate®
$55/sqft
$-- HOA
What's special
Off street parking availableLarge lot
- 101 days |
- 126 |
- 7 |
Zillow last checked:
Listing updated:
Listed by:
Andy Erselius 641-226-2639,
AE Realty, Inc
Source: NoCoast MLS as distributed by MLS GRID,MLS#: 6337170
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Forced Air
Features
- Basement: Full
- Has fireplace: No
Interior area
- Total interior livable area: 2,435 sqft
- Finished area below ground: 675
Property
Accessibility
- Accessibility features: None
Features
- Stories: 2
- Patio & porch: Deck
Lot
- Size: 0.35 Acres
- Dimensions: 170 x 90
Details
- Parcel number: 0473500
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Frame, Vinyl Siding
- Roof: Shingle
Condition
- Year built: 1900
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: Yes
- Amenities included: Deck
Location
- Region: Grinnell
Financial & listing details
- Price per square foot: $55/sqft
- Tax assessed value: $127,800
- Annual tax amount: $1,950
- Date on market: 4/13/2026
- Cumulative days on market: 298 days
- Listing terms: Cash,Conventional
Andy Erselius
(641) 226-2639
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Estimated market value
Not available
Estimated sales range
Not available
$1,059/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/2/2026 | Price change | $133,500-3.3%$55/sqft |
Source:  NoCoast MLS as distributed by MLS GRID #6337170 Report a problem | ||
| 7/24/2025 | Price change | $138,000-7.7%$57/sqft |
Source: NoCoast MLS as distributed by MLS GRID #6325774 Report a problem | ||
| 4/29/2025 | Price change | $149,500-9.3%$61/sqft |
Source: NoCoast MLS as distributed by MLS GRID #6325774 Report a problem | ||
| 3/19/2025 | Listed for sale | $164,900+32%$68/sqft |
Source: NoCoast MLS as distributed by MLS GRID #6325774 Report a problem | ||
| 9/13/2021 | Listing removed | -- |
Source: NoCoast MLS as distributed by MLS GRID #6008570 Report a problem | ||
| 7/22/2021 | Price change | $124,900-3.8%$51/sqft |
Source: NoCoast MLS as distributed by MLS GRID #6008570 Report a problem | ||
| 6/14/2021 | Listed for sale | $129,900+23.8%$53/sqft |
Source: NoCoast MLS as distributed by MLS GRID #6008570 Report a problem | ||
| 8/1/2019 | Listing removed | $104,900$43/sqft |
Source: Iowa Realty #35016022 Report a problem | ||
| 6/27/2019 | Price change | $104,900-3.8%$43/sqft |
Source: Iowa Realty #35016022 Report a problem | ||
| 5/28/2019 | Price change | $109,000-3.1%$45/sqft |
Source: Iowa Realty #35016022 Report a problem | ||
| 11/26/2018 | Listed for sale | $112,500$46/sqft |
Source: Heartland Iowa Realty #35016022 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,950 +1% | $127,800 +9% |
| 2024 | $1,930 -6% | $117,200 |
| 2023 | $2,054 -14.3% | $117,200 +7.9% |
| 2022 | $2,398 +5.5% | $108,650 |
| 2021 | $2,274 -5.5% | $108,650 +13.7% |
| 2020 | $2,406 +4.1% | $95,600 |
| 2019 | $2,312 +47.8% | $95,600 +7.5% |
| 2018 | $1,564 -2% | $88,930 +10.4% |
| 2017 | $1,596 | $80,560 |
| 2016 | -- | $80,560 +9.5% |
| 2015 | -- | $73,590 |
| 2014 | -- | $73,590 |
| 2013 | -- | $73,590 |
| 2012 | $1,306 +2.5% | $73,590 |
| 2010 | $1,274 | $73,590 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 50112
Nearby schools
GreatSchools rating
- NAFairview Elementary SchoolGrades: PK-2Distance: 0.3 mi
- 5/10Grinnell Community Middle SchoolGrades: 5-8Distance: 1 mi
- 8/10Grinnell Community Senior High SchoolGrades: 9-12Distance: 1.4 mi
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