We present the results of multicolour \(UBVR_{\text{C}}I_{\text{C}}JHK\) photometry, spectroscopic analysis and spectral energy distribution (SED) modelling for the post-AGB candidate IRAS 02143+5852. We detected Cepheid-like light variations with the full peak-to-peak amplitude \(\Delta V\sim0.9\) mag and the pulsation period of about 24.9 d. The phased light curves appeared typical for the W Vir Cepheids. The period-luminosity relation for the Type II Cepheids yielded the luminosity \(\log L/L_{\odot}\sim2.95\). From a low-resolution spectrum, obtained at maximum brightness, the following atmospheric parameters were determined: \(T_\text{eff}\sim7400\) K and \(\log g\sim1.38\). This spectrum contains the emission lines H\(\alpha\), BaII \(\lambda\)6496.9, HeI \(\lambda\)10830 and Pa\(\beta\). Spectral monitoring performed in 2019-2021 showed a significant change in the H\(\alpha\) profile and appearance of CH and CN molecular bands with pulsation phase. The metal lines are weak. Unlike typical W Vir variables, the star shows a strong excess of infrared radiation associated with the presence of a heavy dust envelope around the star. We modelled the SED using our photometry and archival data from different catalogues and determined the parameters of the circumstellar dust envelope. We conclude that IRAS~02143+5852 is a low-luminosity analogue of dusty RV Tau stars.