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Residential > Multi-family
Active
3 weeks ago
List Price
$425,000$191/ft²

507 Greene St
Rock Rapids, IA 51246

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  • Malobo BannerMalobo Banner Square
    507 Greene St, Rock Rapids, IA 51246 is a 3 bath, 2,220 ft² multi-family home house built in 1930 on a 0.310 acre lot. This multi-family home is currently for sale for $425,000, and it was last sold in 2020 for $12,000. The latest TopHap estimate of the multi-family home's value is $257,100.

    Property Valuations

    Latest estimates for 507 Greene St based on TopHap automated valuation model (AVM).

    MLS Description

    The listing agent's description. Original Listing

    Fully Renovated Duplex in Rock Rapids, IA!! An exceptional opportunity awaits with this completely renovated and reconstructed duplex, built from the ground up with quality, efficiency, and functionality in mind. Located in the heart of Rock Rapids, IA, this property is ideal for both investors and owner-occupants looking to offset their mortgage by renting out one unit. Each unit offers 1,110 sq ft of living space, featuring 3 bedrooms and 2 bathrooms, including a spacious primary suite with en-suite bath and walk-in closet. Thoughtfully designed for modern living, both units boast open layouts and updated finishes throughout. Garage & Mechanical Highlights: Lower unit includes an attached, insulated, and heated 2-stall garage with a convenient floor drain. Upper unit includes a detached, insulated, and heated 2-stall garage. Both units have separate HVAC systems, water heaters, and individual utility meters for optimal efficiency and independence. All appliances are new or refurbished models bought in 2024 and are included. This includes all kitchen appliances as well as washer and dryer. Investment Incentive: This property currently qualifies for a 100% tax exemption on the first $75,000 of improvements for a period of five years—the first year being calculated on the 2024 tax assessment. This rare incentive adds significant value and long-term savings for the new owner. Occupancy & Income Potential: Both units are currently occupied, offering immediate rental income. Perfect setup to live in one unit and rent the other to dramatically reduce your monthly expenses while building equity. Don`t miss this turnkey, income-producing property in a welcoming Iowa community. Whether you`re a savvy investor or a homeowner looking for a smart way to live affordably, this duplex delivers value, versatility, and long-term benefits...

    Listing Agents

    The listing agent for 507 Greene St is Jessica Mogler.

    Current Ownership

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    Property History

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    Environment

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    School Information

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    Neighborhood

    This property is located in Rock Rapids.

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    Copyright © 2025 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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