EXCEPTIONAL VALUE-ADD DUPLEX OPPORTUNITY | MASSIVE LOT | $180,000 Incredible Investment Potential in Prime Marion Location! Projected Income: $1,700-$1,800/month | Strong Cash Flow Opportunity This rare-find duplex sits on an expansive 8,460 sq ft lot - one of the largest you'll find for a multi-family property in Marion! With 2,201 sq ft of living space, solid bones, and tremendous upside potential, this property is priced to sell quickly at just $180,000. THE NUMBERS THAT MATTER: Rental Potential: $850-$900 per unit = $1,700-$1,800/monthly income Annual Gross Income: $20,400-$21,600 Price Per Unit: Just $90,000 per side Lot Size: 8,460 sq ft (rare for duplexes!) Gross Yield: 11.3-12% (exceptional returns!) UNIT BREAKDOWN: Upper Unit: Spacious 3 bedroom, 1 bathroom - well-maintained and rent-ready Lower Unit: Comfortable 2 bedroom, 1 bathroom with attached workshop access - cosmetic updates will unlock premium rent potential Both units feature beautiful original hardwood floors that add timeless character and quality you simply can't replicate today. These classic floors are a major draw for quality tenants willing to pay premium rents. MAJOR UPDATES ALREADY DONE: ? Brand New Roof (2022) - One of the biggest expenses already handled! This alone adds tremendous value and peace of mind. VALUE-ADD OPPORTUNITY: The property needs new siding and windows - which means you're buying at a price that accounts for these updates. Smart investors recognize this as an opportunity to force equity and increase rental income. Complete these exterior improvements and you'll have a premium property commanding top-market rents in a strong Marion location. OUTSTANDING FEATURES: Massive 8,460 sq ft lot - Rare for multi-family! Room for parking, outdoor space, gardens, and more Attached workshop - Currently utilized by lower unit tenants, providing valuable bonus space that commands premium rents Historic charm with 1890 character throughout Solid foundation for your investment portfolio MULTIPLE EXIT STRATEGIES: Buy & Hold: Generate strong monthly cash flow Live in One, Rent the Other: Let your tenant pay your mortgage while building equity Value-Add Flip: Update exterior, boost rents, refinance or sell for profit Long-term Appreciation: Marion market continues to strengthen LOCATION ADVANTAGES: Central Avenue location provides easy access to downtown Marion amenities, schools, shopping, and Cedar Rapids employment centers. The large lot and workshop appeal to tenants seeking space and character in an established neighborhood. THE BOTTOM LINE: At $180,000 with a 2022 roof already installed, this duplex offers exceptional value for investors ready to capture sweat equity. The combination of a massive lot, original hardwood floors, attached workshop, and strong rental potential make this a rare opportunity in today's competitive market. At just $90,000 per unit with 11-12% gross yields, the numbers simply work! Properties like this don't last long in Marion. Schedule your showing today and see the potential for yourself! Priced for quick sale at $180,000. Serious buyers and investors encouraged to act fast. Property sold as-is, allowing you to customize improvements and maximize your return on investment.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
