Just a few steps from Campus, this 8 Unit Conversion is a cash-flow machine. With (6) 1 bed/1 bath units and 2 efficiency units, this property has cash flow potential over $5700/month. Currently the property has 2 vacancies, yet still generating $4175/mo.
For sale
Price cut: $60K (6/1)
$419,000
2221 Olive St, Cedar Falls, IA 50613
--beds
--baths
4,554sqft
Apartment
Built in 1930
-- sqft lot
$-- Zestimate®
$92/sqft
$-- HOA
What's special
- 114 days |
- 71 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Brian Wingert 319-404-4884,
Structure Real Estate
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20261029
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Facts & features
Interior
Cooling
- None
Appliances
- Laundry: None
Features
- Basement: Partially Finished
Interior area
- Total structure area: 4,554
- Total interior livable area: 4,554 sqft
- Finished area above ground: 1,713
- Finished area below ground: 1,368
Property
Parking
- Total spaces: 3
- Parking features: On Street, Parking Pad, None
- Uncovered spaces: 3
Lot
- Size: 6,534 Square Feet
- Dimensions: 66x99
Details
- Parcel number: 891413309006
- Zoning: R-M
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Wood Siding
- Roof: Asphalt
Condition
- Year built: 1930
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Elec Individual Meters, Garbage in Rent, Gas Individual Meters, Water in Rent, Other
Community & HOA
Location
- Region: Cedar Falls
Financial & listing details
- Price per square foot: $92/sqft
- Tax assessed value: $368,700
- Annual tax amount: $5,389
- Date on market: 3/16/2026
- Cumulative days on market: 114 days
- Lease term: Over 9 Months
- Tenant pays: Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
$1,013/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/1/2026 | Price change | $419,000-12.5%$92/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20261029 Report a problem | ||
| 3/16/2026 | Listed for sale | $479,000+36.9%$105/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20261029 Report a problem | ||
| 3/26/2014 | Sold | $350,000$77/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,390 +2.9% | $368,700 +19% |
| 2024 | $5,239 +13.4% | $309,840 |
| 2023 | $4,622 -16% | $309,840 +33.8% |
| 2022 | $5,500 +10.1% | $231,500 |
| 2021 | $4,994 -5.6% | $231,500 +11.9% |
| 2020 | $5,291 +0.6% | $206,920 +20.3% |
| 2019 | $5,259 -6.6% | $172,070 +5% |
| 2018 | $5,630 +0% | $163,880 |
| 2017 | $5,630 -4.8% | $163,880 |
| 2016 | $5,916 | $163,880 |
| 2015 | $5,916 -2.3% | $163,880 -17.5% |
| 2014 | $6,056 -8.1% | $198,730 |
| 2012 | $6,590 -6.4% | $198,730 |
| 2011 | $7,042 -1.9% | $198,730 -2.6% |
| 2010 | $7,180 +1.2% | $203,940 |
| 2009 | $7,096 -1.2% | $203,940 |
| 2008 | $7,179 +8.6% | $203,940 +9% |
| 2007 | $6,611 +0.1% | $187,100 |
| 2006 | $6,605 +2.7% | $187,100 |
| 2005 | $6,429 +15.5% | $187,100 +24% |
| 2003 | $5,567 +3.7% | $150,870 |
| 2002 | $5,369 -0.4% | $150,870 |
| 2001 | $5,391 | $150,870 |
Find assessor info on the county website
Monthly payment
Est. payment$--/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.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 50613
Nearby schools
GreatSchools rating
- 7/10Lincoln Elementary SchoolGrades: PK-6Distance: 1.1 mi
- 9/10Holmes Junior High SchoolGrades: 7-9Distance: 1.4 mi
- 7/10Cedar Falls High SchoolGrades: 10-12Distance: 1.2 mi
Schools provided by the listing agent
- Elementary: Lincoln Elementary CF
- Middle: Holmes Junior High
- High: Cedar Falls High
Source: Northeast Iowa Regional BOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Iowa
- Black Hawk County
- Cedar Falls
- 50613
- 2221 Olive St
Nearby cities
Nearby zip codes
Other Cedar Falls Topics
