Great opportunity to own a fully rented 4-plex in the heart of Fairfax. This income-producing property features a solid rental history with some long-term tenants already in place, offering immediate cash flow for the next owner. The property is part of an estate and is being sold as-is. See disclosure and recent rental inspection. Any and all repairs including rental permit repairs shall be the responsibility of the buyer after closing.
No private showings will be offered.
There will be three public and agent viewing opportunities based on the following schedule:
Wednesday, July 23, from 4:00 PM to 6:00 PM
Sunday, July 27, from 1:00 PM to 3:00 PM
Monday, July 28, from 4:00 PM to 6:00 PM
Any and all offers are due by 12pm, Tuesday, July 29.
Don't miss this chance to invest in a well-maintained multi-unit property in a growing community.
Sold for $140,000
$140,000
400 Vanderbilt St, Fairfax, IA 52228
--beds
--baths
2,292sqft
Multi Family
Built in 1900
-- sqft lot
$144,900 Zestimate®
$61/sqft
$1,279 Estimated rent
Home value
$144,900
$135,000 - $156,000
$1,279/mo
Zestimate® history
Owner options
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$1,279/mo
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$1,279/mo
Rent Zestimate®
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$1,002/mo
Est. payment
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$1,002/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Stefan Doerrfeld-Twenty40 Sales Team 319-423-9515,
Twenty40 Real Estate + Development,
Rhyse Pelley 319-929-5330,
Twenty40 Real Estate + Development
Bought with:
Mike Graf-Graf Home Selling Team
GRAF REAL ESTATE, ERA POWERED
Source: CRAAR, CDRMLS,MLS#: 2506337
Originating MLS: Cedar Rapids Area Association Of Realtors
Originating MLS: Cedar Rapids Area Association Of RealtorsFacts & features
Interior
Heating
- See Remarks
Cooling
- See Remarks
Appliances
- Laundry: Common Area
Features
- Basement: Full
Interior area
- Total interior livable area: 2,292 sqft
Property
Parking
- Total spaces: 4
Features
- Exterior features: Fence
Lot
- Size: 8,494 sqft
- Dimensions: 85 x 100
Details
- Parcel number: 201613000300000
- Zoning: Multi
- Zoning description: Multi
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Vinyl Siding, Wood Siding
- Foundation: Block
Condition
- Year built: 1900
Community & neighborhood
Location
- Region: Fairfax
Other
Other facts
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 8/28/2025 | Sold | $140,000+55.7%$61/sqft |
Source:  CRAAR, CDRMLS #2506337 Report a problem | ||
| 7/30/2025 | Pending sale | $89,900$39/sqft |
Source: CRAAR, CDRMLS #2506337 Report a problem | ||
| 7/21/2025 | Listed for sale | $89,900+20.7%$39/sqft |
Source: CRAAR, CDRMLS #2506337 Report a problem | ||
| 10/28/2002 | Sold | $74,500$33/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,628 +2.3% | $107,700 +1.9% |
| 2024 | $1,592 -1.2% | $105,700 |
| 2023 | $1,612 -19.5% | $105,700 +16% |
| 2022 | $2,002 +15.5% | $91,100 -6.6% |
| 2021 | $1,734 -5.6% | $97,500 |
| 2020 | $1,836 +4.1% | -- |
| 2019 | $1,763 +0.7% | $78,800 +8.4% |
| 2018 | $1,750 -4.8% | $72,700 -1.4% |
| 2017 | $1,838 -6.7% | $73,700 |
| 2016 | $1,970 -2.4% | $73,700 |
| 2015 | $2,018 -3% | $73,700 +45.7% |
| 2014 | $2,080 | $50,600 |
Find assessor info on the county website
Neighborhood: 52228
Nearby schools
GreatSchools rating
- 6/10Prairie Crest Elementary SchoolGrades: PK-4Distance: 6 mi
- 6/10Prairie Point Middle SchoolGrades: 7-9Distance: 6.6 mi
- 2/10Prairie High SchoolGrades: 9-12Distance: 6.3 mi
Schools provided by the listing agent
- Elementary: College Comm
- Middle: College Comm
- High: College Comm
Source: CRAAR, CDRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$144,900
2% more
+$2,898
With Zillow Showcase(estimated)
$147,798
- Iowa
- Linn County
- Fairfax
- 52228
- 400 Vanderbilt St
Nearby cities
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