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1604 5th AvenueGrinnell, IA 50112

Multi-Family · 2,435 Sq. ft. | 0.35 Acres
$133,500 Active

1604 5th Avenue Overview

Time on Site:
78 days
Visits:
14

Seller offering $5,000 credit towards rate buy down, closing costs or possible updates. Large tri-plex located just seven blocks from downtown Grinnell and Grinnell College makes this investment property is a great opportunity for new or seasoned investors. Currently vacant for the next owner to choose tenants. The most recent (2025) monthly rents were $1,000 (main floor 2 bed/1 bath, $950 (upper 3 bed/1 bath), and $825 (lower level 1 bed/1bath). Each level is it's own unit. There is off street parking available and a large lot present space to build a garage. Upper unit has no photos yet. Call today to schedule a private showing.

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1604 5th Avenue Facts & Features

  • Type Multi-Family
  • Sq. ft. 2,435
  • Price/Sq.ft. $55
  • Lot 0.35 Acres

Details

General

Association/HOA

  • Association Amenities: Deck

Income/Expenses

  • Electric Expense: 1950
  • Fuel Expense: 1950
  • Gross Income: 33300
  • Maintenance Expense: 1000
  • Net Operating Income: 19340
  • Operating Expense: 0
  • Trash Expense: 900
  • Water Sewer Expense: 2760

Listing Information

  • Contingency: None

Building Information

  • Year Built: 1900

Location/Region

  • County Or Parish: Poweshiek
  • Postal City: Grinnell

Tax Information

  • Tax Annual Amount: 1950
  • Tax Year: 2024

General Information

  • Listing Terms: Cash,Conventional
  • Parcel Number: 0473500
  • Property Sub Type: Triplex
  • Property Type: Residential Income

Interior

Parking Information

  • Garage Spaces: 0

Beds/Baths

  • Bathrooms Total: 0

Building Interior

  • Below Grade Finished Area: 675

General Information

  • Accessibility Features: None
  • Basement: Full
  • Electric: Circuit Breakers
  • Fireplace: No
  • Fireplaces Total: 0
  • Heating: Forced Air
  • Living Area: 2435
  • Living Area Units: Square Feet
  • Stories: 2

Exterior

Lot Information

  • Lot Size Acres: 0.35
  • Lot Size Dimensions: 170x90
  • Lot Size Square Feet: 15246
  • Lot Size Units: Acres
  • Water Source: Public

Building Exterior/Construction

  • Construction Materials: Frame,Vinyl Siding
  • Roof: Shingle

General Information

  • Number Of Units Total: 3
  • Sewer: City Sewer/Connected

1604 5th Avenue Neighborhood

Community

50112 (Grinnell) Demographics

41
Median Age
64
Population Density (per sq. mile)
45%
College Educated
$54,349
Estimated Median Income
2,996
Estimated Total Home Owners
1,842
Estimated Total Renters
62% / 38%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1604 5th Avenue Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1604 5th Avenue Market Data

Based on the last 30 days in this zip code

$255,262
Average List Price
$139
Average Price per Square Foot
10
Properties Sold
81
Average Days on Market
83
Properties for Sale
Calculations provided by Reliance Network

1604 5th Avenue History

Date Event Value Agent
6/2/2026Source: NoCoast MLS Price Reduction
$133,500 -3.3%
4/12/2026Source: NoCoast MLS Added to Database
April 12, 2026
Listing provided courtesy of AE Realty, IncNoCoast MLS- MLS# 6337170MLS Provider