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Description
Prime mixed-use investment on Main Street in charming Ely, IA. This versatile property offers multiple income streams with commercial space at street level and 4 residential rental opportunities (1 down, 3 above). Excellent visibility and foot traffic support a variety of business uses, while residential units benefit from strong local demand. Ideal for investors or owner-occupants seeking steady cash flow and long-term appreciation. Located just minutes from Cedar Rapids and Iowa City, combining small-town appeal with convenient access to major markets. A rare opportunity to add a flexible, income-producing asset to your portfolio. Listing includes vacant lot next to building. Plans available upon requests for future build-out of additional rental units.
Property Highlights
Property Type: Commercial - Business
Year Built: 1890
General Information
County: Linn
Listed By:
Edge Realty Group, Inc
319-351-3355
Jess Andersen
Cedar Rapids MLS
MLS ID: 2600670
Shown By
Agent Name: BERG Real Estate BERG Real Estate Team
Agent Phone: (309) 737-7444
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Get in Touch
Shown By
Agent Name: BERG Real Estate BERG Real Estate Team
Agent Phone: (309) 737-7444
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Contact an agent to learn more about
1690 Dows Street, Ely, IA 52227.
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563-441-1862
toll free 866-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $449,000 | $449,000 | $449,000 |
| Down Payment | $89,800 | $15,715 | $112,250 |
| Monthly Mortgage Amount | $2,125 | $2,573 | $2,729 |
| Taxes | $625 | $625 | $625 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $197 | $0 |
| Monthly Estimated Total | $2,881 | $3,526 | $3,485 |
About this area
Find homes for sale in Ely, Iowa and learn about the local community and real estate market.
With a growing population and a great location between two of Iowa’s biggest cities, Ely shows a lot of great promise. No matter your reason for moving, Ruhl&Ruhl Realtors has real estate options and homes for sale in Ely, IA. Continue browsing this page to see all houses for sale in Ely, IA. If you need to do a little more research before buying, check out the pages below for additional options.
Nearest Ruhl&Ruhl Office
5805 Council St. NE, Suite A
Cedar Rapids, IA 52402
Phone Number: (563) 441-1776