Seller's Agent in 2023
Darson Grantham
Keller Williams Realty GDM
(641) 745-0156
22 in this area
205 Total Sales
1020 25th St Des Moines, IA 50311
Drake NeighborhoodEstimated Value: $280,000 - $313,901
--
Bed
6
Baths
3,985
Sq Ft
$75/Sq Ft
Est. Value
Highlights
- 6 Kitchens
- No HOA
- 4-minute walk to Drake Park
About This Home
As of November 2023This 6-unit multifamily property has $4235 per month of income and is well-maintained and located strategically near Drake University. This investment opportunity has consistently been occupied, leading to an impressive rental history. The proximity to the university and downtown offers a steady source of potential tenants.
The property provides sufficient off-street parking, a feature that is increasingly scarce in urban properties. With a healthy gross income of $4,235 per month, this investment stands to yield an annual income of approximately $50,820.
To minimize potential future repair costs, significant investments have already been made, such as the installation of a metal roof, updated electrical panels, and a newer boiler system. This has substantially reduced the risk of unexpected capital expenditures.
The property holds a valid Rental Certificate until 2025, reducing administrative burdens for the next two years. Managed by a professional team, the property has seen numerous updates to maintain its attractiveness and functionality. Despite these upgrades, there are still unexplored opportunities to increase rental income through additional improvements.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,139
Year Built
- Built in 1900
Lot Details
- 7,680 Sq Ft Lot
- Lot Dimensions are 60x128
Parking
- Gravel Driveway
Home Design
- 3,985 Sq Ft Home
- Metal Roof
Utilities
- Window Unit Cooling System
- Radiant Heating System
Additional Features
- 6 Kitchens
- 6 Full Bathrooms
Listing and Financial Details
- Assessor Parcel Number 03004931000000
Community Details
Overview
- No Home Owners Association
- 6 Units
Building Details
- Gross Income $4,235
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 20, 2023
Closed on
Nov 13, 2023
Sold by
Ten 91 Llc
Bought by
Toland Properties Llc
Seller's Agent
Darson Grantham
Keller Williams Realty GDM
Buyer's Agent
Sarah Shaffer
Realty ONE Group Impact
List Price
$350,000
Sold Price
$290,000
Premium/Discount to List
-$60,000
-17.14%
Views
245
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$5,334
Avg. Annual Appreciation
0.52%
Purchase Details
Closed on
Mar 22, 2021
Sold by
Koshy Holdings Llc
Bought by
Ten 91 Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$405,000
Interest Rate
2.73%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
May 5, 2016
Sold by
James L Vogel Trust
Bought by
Koshy Holdings Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$78,000
Interest Rate
3.58%
Mortgage Type
Commercial
Purchase Details
Listed on
Dec 13, 2013
Closed on
Nov 3, 2014
Sold by
James L Vogel Trust
Bought by
Koshy Holdings Llc
Seller's Agent
Leonard McCoy
Coldwell Banker Mid-America
Buyer's Agent
Jason Stuyvesant
RE/MAX Concepts
List Price
$149,900
Sold Price
$102,500
Premium/Discount to List
-$47,400
-31.62%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.23%
Original Mortgage
$82,000
Interest Rate
7%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Aug 9, 2013
Sold by
Vogel James L and Tarbox Thomas T
Bought by
James L Vogel Revocable Trust
Purchase Details
Closed on
Jun 27, 2013
Sold by
Nelson Enterprises Lc and Nelson Barry J
Bought by
Vogel James L
Purchase Details
Closed on
Dec 31, 2001
Sold by
Vogel James L and Vogel Patricia C
Bought by
Nelson Enterprises Lc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,800
Interest Rate
6.82%
Mortgage Type
Land Contract Argmt. Of Sale
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Toland Properties Llc | $290,000 | None Listed On Document | |
| Ten 91 Llc | $210,000 | None Available | |
| Koshy Holdings Llc | $102,500 | None Available | |
| Koshy Holdings Llc | $102,500 | None Available | |
| James L Vogel Revocable Trust | -- | None Available | |
| Vogel James L | $95,000 | None Available | |
| Nelson Enterprises Lc | $86,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Ten 91 Llc | $405,000 | |
| Previous Owner | Toland Properties Llc | $298,000 | |
| Previous Owner | Koshy Holdings Llc | $0 | |
| Previous Owner | Koshy Holdings Llc | $78,000 | |
| Previous Owner | Koshy Holdings Llc | $78,000 | |
| Previous Owner | Koshy Holdings Llc | $82,000 | |
| Previous Owner | Nelson Enterprises Lc | $25,800 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/14/2023 11/14/23 | Sold | $290,000 | -7.9% | $73 / Sq Ft |
| 10/13/2023 10/13/23 | Pending | -- | -- | -- |
| 09/14/2023 09/14/23 | Price Changed | $315,000 | -10.0% | $79 / Sq Ft |
| 07/17/2023 07/17/23 | For Sale | $350,000 | +241.5% | $88 / Sq Ft |
| 11/04/2014 11/04/14 | Sold | $102,500 | -31.6% | $26 / Sq Ft |
| 10/10/2014 10/10/14 | Pending | -- | -- | -- |
| 12/13/2013 12/13/13 | For Sale | $149,900 | -- | $38 / Sq Ft |
Source: Des Moines Area Association of REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,076 | $258,000 | $19,500 | $238,500 |
| 2023 | $4,950 | $258,000 | $19,500 | $238,500 |
| 2022 | $5,784 | $210,000 | $16,300 | $193,700 |
| 2021 | $5,519 | $210,000 | $16,300 | $193,700 |
| 2020 | $5,768 | $172,000 | $14,800 | $157,200 |
| 2019 | $5,064 | $172,000 | $14,800 | $157,200 |
| 2018 | $5,386 | $143,000 | $14,800 | $128,200 |
| 2017 | $5,056 | $143,000 | $14,800 | $128,200 |
| 2016 | $5,270 | $129,000 | $12,500 | $116,500 |
| 2015 | $5,270 | $129,000 | $12,500 | $116,500 |
| 2014 | $4,934 | $115,000 | $12,500 | $102,500 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2023
Sarah Shaffer
Realty ONE Group Impact
(319) 621-6811
12 in this area
88 Total Sales
-
L
Seller's Agent in 2014
Leonard McCoy
Coldwell Banker Mid-America
-
Buyer's Agent in 2014
Jason Stuyvesant
RE/MAX
(515) 778-9669
10 in this area
133 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 678337
APN: 030-04931000000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Nearby Homes