Discover a hidden gem in the City of Mt. Vernon, Iowa. This 24-unit complex has been updated as needed, featuring 22 two-bedroom, one-bath units and two one-bedroom 1 bath units. The two-bedroom units average 900 square feet, while the one-bedroom units are around 700 square feet. There are also 12 detached garages, all of which are currently rented. This property presents a great value-add opportunity, as we have consistently demonstrated annual rent increases. With a low turnover rate among tenants, rent increases have been steady, albeit slow. There is still potential for further improvements and continued rental growth.
Sold for $1,500,000
$1,500,000
709 & 711 Meadow Lane Ct SE, Mount Vernon, IA 52314
--beds
1baths
22,146sqft
Multi Family, Residential
Built in 1971
-- sqft lot
$1,576,400 Zestimate®
$68/sqft
$1,122 Estimated rent
Home value
$1,576,400
$1.45M - $1.70M
$1,122/mo
Zestimate® history
Owner options
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$1,122/mo
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$1,122/mo
Rent Zestimate®
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$8,266/mo
Est. payment
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$8,266/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
Listed by:
Matthew Lepic 319-321-7199,
Lepic-Kroeger, REALTORS
Bought with:
Lepic-Kroeger, REALTORS
Source: Iowa City Area AOR,MLS#: 202500847
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 1
Heating
- Steam
Cooling
- Window Unit(s)
Appliances
- Included: Range Or Oven, Refrigerator, Microwave
- Laundry: Laundry Room, In Basement
Features
- Flooring: Carpet, Vinyl
- Basement: Partial
- Has fireplace: No
Interior area
- Total structure area: 22,146
- Total interior livable area: 22,146 sqft
- Finished area above ground: 22,146
- Finished area below ground: 0
Property
Parking
- Total spaces: 4
- Parking features: Detached Carport, Off Street, On Street
- Has carport: Yes
Features
- Levels: Multi/Split
- Exterior features: Balcony
Lot
- Features: One To Two Acres
Details
- Parcel number: 1710454005 & 1710454004
- Zoning: RES 3+
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Residential
Materials
- Brick, Frame
Condition
- Year built: 1971
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Sidewalks, Street Lights
- Security: Smoke Detector(s)
- Subdivision: Bowman 3rd
Location
- Region: Mount Vernon
Financial & listing details
- Price per square foot: $68/sqft
- Annual tax amount: $24,842
- Date on market: 2/1/2025
- Listing terms: Conventional,1031 Exchange,Cash
Price history
| Date | Event | Price |
|---|---|---|
| 5/12/2025 | Sold | $1,500,000-7.4%$68/sqft |
Source:  Iowa City Area AOR #202500847 Report a problem | ||
| 3/15/2025 | Pending sale | $1,620,000$73/sqft |
Source:  CRAAR, CDRMLS #2500797 Report a problem | ||
| 2/7/2025 | Listed for sale | $1,620,000$73/sqft |
Source: CRAAR, CDRMLS #2500797 Report a problem | ||
| 2/7/2025 | Pending sale | $1,620,000$73/sqft |
Source: CRAAR, CDRMLS #2500797 Report a problem | ||
| 2/2/2025 | Listed for sale | $1,620,000+35%$73/sqft |
Source: CRAAR, CDRMLS #2500797 Report a problem | ||
| 12/1/2017 | Sold | $1,200,000$54/sqft |
Source: Iowa City Area AOR #20176143 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 52314
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Nearby schools
GreatSchools rating
- 7/10Washington Elementary SchoolGrades: PK-4Distance: 0.7 mi
- 10/10Mount Vernon Middle SchoolGrades: 5-8Distance: 0.8 mi
- 6/10Mount Vernon High SchoolGrades: 9-12Distance: 1 mi
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$1,576,400
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+$31,528
With Zillow Showcase(estimated)
$1,607,928
- Iowa
- Linn County
- Mount Vernon
- 52314
- 709 & 711 Meadow Lane Ct SE
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