For sale

$259,000

Est. $1,852/mo —

—

•

2 ba

•

1,527

sq ft

507 Kimball Rd, Iowa City, IA 52246

About this home

Excellent investment opportunity at 507 Kimball Rd in Iowa City! This fully occupied duplex offers immediate rental income with both units leased through July 2027. The upper unit rents for $875/month, with the tenant responsible for all utilities. The lower unit rents for $1,300/month, with the tenant responsible for all utilities except water and trash. Combined gross rental income is $2,175 per month, or $26,100 annually. With long-term leases already in place, this property provides an attractive opportunity for an investor looking to add a stabilized, income-producing property to their portfolio. Landlord responsibilities include water and trash for the lower unit, along with lawn care and snow removal for the property. Convenient Iowa City location with established rental income from day one. A great option for investors seeking a fully leased duplex with predictable cash flow. Advance notice for tenants required. Buyer to verify sq footage and schools. Buyer must be willing to participate in 1031 exchange.

Multi-familyProperty Type

1920Year Built

3,640 sq ftLot Size

$170Price/Sq.Ft.

4 spacesParking

Listed by Bryant Nicholson • Affinity Real Estate Services

Listing updated: Sep 10, 2026 at 10:58am

Redfin checked: a minute ago

•Source:ICAARMLS #202605470

Payment calculator

$1,852 per month

Principal and interest$1,396

Property taxes

$324

HOA dues

Home insurance

$132

Utilities

Add

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Affordability tools

Open houses

No upcoming open houses.

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Around this home

Schools

K - 12
Preschool & daycare

Bohumil Shimek Elementary School

Public PreK-5 • Assigned • 0.4mi

6/10

Southeast Junior High School

Public 6-8 • Assigned • 2.5mi

4/10

Iowa City High School

Public 9-12 • Assigned • 1.5mi

6/10

Provided by GreatSchools

About

Shimek

Shimek, located between Highway 6 and the Iowa River, is a residential and park-adjacent Iowa City neighborhood with wooded trails and a low-rise, campus-edge feel. The neighborhood’s energy concentrates around the Dubuque Street and Park Road corridor, where trailheads, local eateries, and everyday errands cluster in a compact strip. Housing leans toward mid-century ranches, split-levels, and smaller apartment buildings set along curving streets and mature trees. Hickory Hill Park frames the area with shaded paths and prairie edges. The Iowa River Corridor Trail adds a steady rhythm of walkers and cyclists. Nearby, The Mill and Big Grove Brewery act as familiar gathering spots for music, food, and conversation.

Provided by Walk Score and Local Logic

Market insights

507 Kimball Rd · $259,000

DAYS ON MARKET

The average home goes pending in 44 days.

SALE-TO-LIST

Most homes are selling 5% below list price.

LIST PRICE

Median list price in this area is $241,643. (7% lower than this home)

Property details

Interior
Exterior
Finance

Kitchen

Bathroom

Bedroom

Living

Interior features
Other interior features
Fireplace: Other

Bedrooms
Units include living room; one unit includes a dining room

Bathrooms
Some units have 1 bathroom

Kitchen
Refrigerator included

Laundry & utility
Laundry in basement

Flooring
Carpet
Vinyl

Heating & cooling
Natural gas heating
Forced air

Sale and tax history for 507 Kimball Rd

Sale History
Tax History

Date

Event

Price

ICAARMLS #202605470

Sep 10, 2026

Listed

$259,000

$170/sq ft

APPFOLIO #1

Nov 24, 2023

Rental Removed

$825

$1/sq ft

Nov 18, 2023

Listed for Rent

$825

$1/sq ft

Nov 4, 2023

Rental Removed

$850

$1/sq ft

Nov 3, 2023

Listed for Rent

$850

$1/sq ft

ICAARMLS #20175083

Sep 18, 2017

Sold

$150,000

$98/sq ft

Sep 18, 2017

Listed

$150,000

$98/sq ft

ICAARMLS #20163775

Dec 6, 2016

Sold

$135,000

$88/sq ft

Nov 16, 2016

Price Changed

$137,500

$90/sq ft

Jun 19, 2016

Listed

$135,000

$88/sq ft

+12

This duplex is an investor opportunity ready for handyman skills & updating. Upper level 1 BD/1 BA was rented for $600/month. Main level 2 BD/1 BA with one being a walk-through bedroom off master was rented for $700/month. Keep this home as an in-demand rental or rehab it back to the darling single-family-home it once was. (Original staircase to second floor intact behind sheet rock. ) Rental permit valid through 4/2018. New roof & some new gutters in 2013. New water heater in 2016. Sold "as is".

ICAARMLS #20163108

May 18, 2016

Listed

$173,900

$114/sq ft

Year

Property tax

Land + Additions

Assessment*

2025

$3,724 (+1.3%)

$43,550 + $174,080

$217,630

2024

$3,678 (+5.1%)

$43,550 + $174,080

$217,630

2023

$3,500 (+4.7%)

$40,070 + $155,460

$195,530

2022

$3,344 (+1.1%)

$40,070 + $155,460

$195,530

2021

$3,308 (+1.8%)

$40,070 + $121,390

$161,460

2020

$3,248 (+5.8%)

$38,320 + $114,710

$153,030

2019

$3,070 (+1.1%)

$38,320 + $114,710

$153,030

2018

$3,038 (+0.4%)

$34,840 + $104,870

$139,710

2017

$3,026 (+2.0%)

$34,840 + $104,870

$139,710

2016

$2,966 (+4.0%)

$34,840 + $104,870

$139,710

2015

$2,852 (+3.2%)

$18,810 + $118,830

$137,640

2014

$2,764 (+2.8%)

$18,810 + $113,030

$131,840

2013

$2,690

$18,810 + $113,030

$131,840

Public record

Public record
Zoning

Beds

Baths

Stories

1.5

Lot width

—

Lot depth

—

Lot size

3,659 Sq. Ft.

Year renovated

—

Finished Sq. Ft.

1,527

Unfinished Sq. Ft.

—

Total Sq. Ft.

1,527

Year built

1920

Style

Multi-Family (2-4 Unit)

County

Johnson County

APN

1003403019

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jul 15, 2026.

RS5

Low Density Single-Family Residential Zone

The low density single-family residential zone RS-5 is primarily intended to provide housing opportunities for individual households. The regulations are intended to create, maintain, and promote livable neighborhoods. The regulations allow for some flexibility of dwelling types to provide housing opportunities for a variety of household types. This zone also allows for some nonresidential uses that contribute to the livability of residential neighborhoods, such as parks, schools, religious institutions, and daycare facilities. Related nonresidential uses and structures should be planned and designed to be compatible with the character, scale, and pattern of the residential development.

Permitted uses

Include but are not limited to:

Housing-Single unit

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 105° expected this year, 16 days in 30 years

2/10 Wind Factor

Minor risk of severe winds over next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Iowa City, IA • 52246

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

80/ 100

Very good sunlight

Sunscore

There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

8.3 hrs

4.8 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 507 Kimball Rd

There isn’t enough information to generate an accurate estimate at this time. Learn More

Contact listing agent

Bryant Nicholson

Affinity Real Estate Services

319-853-3555

bryant@apmia.com

At this time, Redfin doesn't have an agent available to help you with this home.

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Details provided by ICAARMLS and may not match the public record. Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Payment calculator

Affordability tools

Open houses

Nearby open houses (10)

Around this home

Schools

Market insights

Property details

Sale and tax history for 507 Kimball Rd

Public record

Climate risks

Historical weather

Sun exposure

Redfin Estimate for 507 Kimball Rd

Contact listing agent

Nearby similar homes

New listings for sale in 52245

More real estate resources