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
$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
- 207 days
- 45
- 0
Zillow last checked:
Listing updated:
Listed by:
Brian J Wingert 319-404-4884,
Structure Real Estate
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20261029
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: 208 days
- Lease term: Over 9 Months
- Tenant pays: Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
Not available
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
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 50613
Nearby schools
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.
Similar homes
- $419,000-- bd-- ba4.7k sqft2115 Walnut St, Cedar Falls, IA 50613For Sale
MLS ID #20260926, Brian J Wingert, Structure Real Estate. Northeast Iowa Regional BOR as distributed by MLS GRID - $419,000-- bd-- ba4.9k sqft810 W 25th St, Cedar Falls, IA 50613For Sale
MLS ID #20261105, Brian J Wingert, Structure Real Estate. Northeast Iowa Regional BOR as distributed by MLS GRID - $410,00011 bd-- ba4.4k sqft2416 Olive St, Cedar Falls, IA 50613For Sale
MLS ID #20263030, Deanna Wheeler, Re/Max Concepts. Northeast Iowa Regional BOR as distributed by MLS GRID - $480,00010 bd5 ba3.5k sqft2222 Walnut St, Cedar Falls, IA 50613For Sale
MLS ID #20263759, Wesley Sindt, Structure Real Estate. Northeast Iowa Regional BOR as distributed by MLS GRID
