Here we study the structural and magnetic properties of the CoFeSr2YCu2O7 compound with x = 0.0 to 1.0. X-ray diffraction patterns and simulated data obtained from Rietveld refinement of the same indicate that the iron ion replacement in CoFeSr2YCu2O7 induces a change in crystal structure. The orthorhombic Ima2 space group structure of Co-1212 changes to tetragonal P4/mmm with increasing Fe ion. The XPS studies reveal that both Co and Fe ions are in mixed states for the former and in case of later.Although none of the studied as synthesized samples in CoFeSr2YCu2O7 are superconducting, the interesting structural changes in terms of their crystallisation space groups and the weak magnetism highlights the rich solid state chemistry of this class of materials.