For sale

$259,000

Est. $1,869/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 17, 2026 at 01:08am

Redfin checked: a few seconds ago

•Source:ICAARMLS #202605470

Payment calculator

$1,869 per month

Principal and interest$1,413

Property taxes

$324

HOA dues

Home insurance

$132

Utilities

Add

5 minutes to get started. No credit impact.

Affordability tools

See this home in person

We'll connect you with a local agent to show you this home, answer your questions, and assist you on your buying journey.

Next available tour time: Today

Open houses

No upcoming open houses.

Nearby open houses (10)

OPEN THU, 5PM TO 7PM3D WALKTHROUGH
$385,000
5 beds3 baths2,384 sq ft
131 Penfro Dr, Iowa City, IA 52246
9,583 sq ft lot • Garage • Built 1976
OPEN THU, 5PM TO 7PM3D WALKTHROUGH
$699,900
5 beds4 baths3,552 sq ft
2908 Diamond Mil Cir, Coralville, IA 52241
0.36 acre lot • Garage • Built 2019
OPEN SAT, 11AM TO 12:30PM
$269,900
3 beds2 baths1,606 sq ft
235 N Park Ridge Rd, North Liberty, IA 52317
5,227 sq ft lot • Garage • Built 2010
OPEN SAT, 11AM TO 1PM
$195,000
3 beds1.5 baths1,152 sq ft
1400 Deforest Ave, Iowa City, IA 52240
8,276 sq ft lot • Parking • Built 1956
OPEN SAT, 2PM TO 3:30PM3D WALKTHROUGH
$379,500
3 beds2 baths2,318 sq ft
168 290th St, West Branch, IA 52358
0.93 acre lot • Garage • Built 1986
OPEN SUN, 12PM TO 1:30PM
$175,000
2 beds1.5 baths1,199 sq ft
1152 Cambria Ct, Iowa City, IA 52246
Garage • Built 1980 • Listed 25 days
OPEN SUN, 12PM TO 1PM
$279,900
3 beds2.5 baths1,605 sq ft
2244 Denison Ave, North Liberty, IA 52317
$180 HOA • Garage • Built 2022
OPEN SUN, 1PM TO 2:30PM3D WALKTHROUGH
$500,000
4 beds3 baths2,688 sq ft
1675 Grizzly Trl, North Liberty, IA 52317
0.28 acre lot • Garage • Built 2005
OPEN SUN, 1PM TO 2:30PM
$489,900
5 beds3 baths2,437 sq ft
4523 Luke Dr, Iowa City, IA 52246
Garage • Built 2022 • Listed 32 days
OPEN SUN, 1:30PM TO 3PM
$249,900
3 beds1 bath1,393 sq ft
826 20th Ave, Coralville, IA 52241
8,712 sq ft lot • Garage • Built 1965

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

Offer insights

507 Kimball Rd · $259,000

Strong offer

$269K and above

75% chance or better to win

Why $269K+ is a strong offer

DAYS ON MARKET

The average home goes pending in 34 days.

SALE-TO-LIST

Most homes are selling 2% above list price.

About offer insights

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*

2026

$3,888 (+4.4%)

$43,550 + $174,080

$217,630

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 Oct 13, 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

Tour for free, no strings attached

Instant answers, or connect with a local agent

Start an offer

Nearby similar homes

$495,000

4 beds3 baths1,656 sq ft

58 Olive Ct, Iowa City, IA 52246

8,276 sq ft lot • Garage • Built 1973

$299,950

4 beds2 baths2,528 sq ft

1100 Brookwood Dr, Iowa City, IA 52240

Corner lot • Newer roof • Vinyl siding

3D WALKTHROUGH

$269,000

3 beds1 bath864 sq ft

1303 Kirkwood Ave, Iowa City, IA 52240

Mid-century charm • Updated lvp flooring • Newer appliances

$350,000

— beds— baths923 sq ft

17 S Johnson St, Iowa City, IA 52240

1,960 sq ft lot • Built 1900 • Listed 106 days

3D WALKTHROUGH

$298,000

3 beds1.5 baths1,626 sq ft

210 N Gilbert St, Iowa City, IA 52240

Original woodwork • Pristine built-ins • High-ceiling attic

NEW CONSTRUCTION

$405,000

4 beds3 baths2,231 sq ft

1153 Grant Way, North Liberty, IA 52317

Electric fireplace • Lvp flooring • Quartz countertops

New listings for sale in 52245

NEW 5 HRS AGO

$309,900

3 beds2.5 baths1,775 sq ft

816 N 1st Ave, Iowa City, IA 52245

2 garage spots • Built 2015

NEW 18 HRS AGO

$340,000

3 beds2 baths1,420 sq ft

2184 Willenbrock Cir, Iowa City, IA 52245

Corner unit • Greenspace views • New lvp flooring

3D WALKTHROUGH

$280,000

4 beds2.5 baths1,968 sq ft

3029 Cornell Ave, Iowa City, IA 52245

Two story home • Eat in kitchen • Formal dining room

$220,000

2 beds2 baths1,169 sq ft

420 N 1st Ave #108, Iowa City, IA 52245

First floor • Elevator • Drive-under parking

$139,900

2 beds1 bath800 sq ft

416 N Dodge St, Iowa City, IA 52240

4,000 sq ft lot • 2 parking spots • Listed 5 days

$284,900

3 beds2 baths2,806 sq ft

286 Kenneth Dr, Iowa City, IA 52245

Open-concept layout • Cozy fireplace • Breakfast bar

$269,000

4 beds2 baths1,432 sq ft

715 E Davenport St, Iowa City, IA 52245

New kitchen • New counters • New sink

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

Download the Redfin App on the Apple App Store

Download the Redfin App from the Google Play Store

Join us

Become an Agent

Get referrals

Careers

Find homes faster

About us

Find us

Subsidiaries

Affiliated Business

Countries

United States

Canada

Updated September 2025: By searching, you agree to the Terms of Use, and Privacy Policy.

Do not sell or share my personal information.

REDFIN and all REDFIN variants, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.

California DRE #01521930

Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures

New Mexico Real Estate Licenses

TREC: Info About Brokerage Services, Consumer Protection Notice

All mortgage lending products and information are provided by Rocket Mortgage, LLC | NMLS #3030; www.NMLSConsumerAccess.org. Licensed in 50 states. This site is not authorized by the New York State Department of Financial Services for mortgage solicitation or loan applications activities related to properties located in the State of New York.

Redfin Corporation is an affiliated business of Rocket Limited Partnership. Each company, and their subsidiaries, are separate legal entities operated and managed through its own management and governance structures.

If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.

REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.

GreatSchools Ratings provided by GreatSchools.org.

52240 homes for sale
52241 homes for sale
52242 homes for sale
52245 homes for sale
52246 homes for sale

Houses for rent in Iowa City	Agents near me	Ankeny, IA homes for sale	Iowa City Housing Market
Houses for sale near me	Des Moines, IA homes for sale	Davenport, IA homes for sale
Land for sale near me	Iowa City, IA homes for sale	Dubuque, IA homes for sale
Open Houses near me	Cedar Rapids, IA homes for sale	Iowa City Property Records
Condos for sale near me	West Des Moines, IA homes for sale	IA New Listings

North Liberty homes for sale
Coralville homes for sale
Cedar Rapids homes for sale

About this home

Payment calculator

Affordability tools

See this home in person

Nearby open houses (10)

Around this home

Schools

Offer 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

Nearby similar homes

New listings for sale in 52245

More real estate resources