NOT LISTED FOR SALE

1037 N Main Ave Fayetteville, AR 72701

Estimated Value: $239,744

-- Bed
-- Bath
5,898 Sq Ft
$41/Sq Ft Est. Value

Last Sold December 28, 2018

Last sale price $150,000 $25 Per Sq Ft

Est. 60% increase in value since last sale

Current estimated payment $1,405/month

232 Days on Market

Highlights

  • 1 Acre Lot
  • Window Unit Cooling System
  • Concrete Flooring
  • 1 Car Attached Garage
  • Central Heating and Cooling System
  • Partially Fenced Property

About This Home

As of December 2018

Multi-family investors take note of this value-add, 7 unit, single level apartments on 1 acre in south Fayetteville across from Drake Field. With current shortages of affordable rental housing, these units will always stay filled. Excellent opportunity to create an over 55 housing complex to minimize tenant issues and maximize desirable tenants who need affordable, single story housing. Room to add more units or outdoor amenities. Please schedule showings 48 hours in advance. Please see interactive map.

Last Agent to Sell the Property

M. Melissa Lee, Esq.

Keller Williams Market Pro Realty Branch Office Listed on: 04/09/2018

Keller Williams Market Pro Realty Branch Office

Co-Listed By

Madeline Smallwood

Collier & Associates- Rogers Branch License #EB00079012

Last Buyer's Agent

Lilia Gamez

LG Home Solutions Real Estate License #PB00058655

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $1,670

Year Built

  • Built in 1957

Lot Details

  • 1 Acre Lot
  • Property fronts a highway
  • Partially Fenced Property
  • Open Lot
  • Cleared Lot

Home Design

  • Slab Foundation
  • Shingle Roof
  • Asphalt Roof

Interior Spaces

  • 5,898 Sq Ft Home
  • 1-Story Property

Flooring

  • Laminate
  • Concrete

Parking

  • 1 Car Attached Garage
  • Gravel Driveway

Utilities

  • Window Unit Cooling System
  • Central Heating and Cooling System
  • Gas Water Heater

Community Details

Overview

  • 7 Units
  • Greenland Outlots Subdivision

Building Details

  • Gross Income $22,815

Property Details

Home Type

Apartment

Est. Annual Taxes

$1,670

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Residential
  • Lot Size Acres: 1.0
  • Road Frontage Type: Highway
  • Co List Office Mls Id: 18011
  • Co List Office Phone: 479-657-6797
  • Subdivision Name: Greenland Outlots
  • Directions: From i-49 take exit 61 to merge onto US-71 toward Fayetteville. Take exit onto US-71 S and drive approx. 1.5 miles. Destination is on the right near the Fayetteville airport and next to a vacant gas station.
  • Garage Yn: Yes
  • Unit Levels: One
  • Building Stories: 1
  • Year Built Details: 25 Years or older
  • Year Built: 1957
  • ResoPropertyType: Residential
  • Property Sub Type Additional: Apartment,Multi Family
  • ResoBuildingAreaSource: Owner
  • Special Features: VirtualTour
  • Stories: 1
  • Year Built: 1957

Interior Features

  • Appliances: Gas Water Heater
  • Basement YN: No
  • Flooring: Concrete, Laminate
  • Interior Amenities: None
  • Living Area: 5898.0
  • ResoLivingAreaSource: Owner

Exterior Features

  • Fencing: Partial
  • Lot Features: Cleared, Not In Subdivision, Open Lot
  • Waterfront Features: None
  • Construction Type: Block, Concrete
  • Exterior Features: Gravel Driveway
  • Foundation Details: Slab
  • Patio And Porch Features: None
  • Roof: Asphalt, Shingle

Garage/Parking

  • Attached Garage: Yes
  • Covered Parking Spaces: 1.0
  • Parking Features: Attached, Garage, One Space

Utilities

  • Cooling: Central Air, Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes

Lot Info

  • Zoning Description: Multi Family
  • Zoning: N
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 7
  • Number Of Units Total: 7
  • Annual Gross Income: 22815.0

Tax Info

  • Tax Annual Amount: 1670.0
  • Tax Block: .
  • Tax Lot: .

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 9, 2018
Closed on
Dec 28, 2018
Sold by
Mcnamara Micheal V and Mcnamara Alisa
Bought by
Ramos Jose
Seller's Agent
M. Melissa Lee, Esq.
Keller Williams Market Pro Realty Branch Office
Buyer's Agent
Lilia Gamez
LG Home Solutions Real Estate
List Price
$185,000
Sold Price
$150,000
Premium/Discount to List
-$35,000
-18.92%
Current Estimated Value
$239,744

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$89,744
Avg. Annual Appreciation
7.02%
Original Mortgage
$127,500
Interest Rate
4.8%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jul 7, 2009
Sold by
Spencer J Frank and Spencer Virginia Lee
Bought by
Mcnamara Michael V and Mcnamara Alisa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$166,319
Interest Rate
4.97%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 1, 1985
Bought by
Frank Spencer J and Frank Frank
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ramos Jose $150,000 Pci Advance Title
Mcnamara Michael V $170,000 Rtc
Frank Spencer J -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Ramos Jose $127,500
Previous Owner Mcnamara Michael V $166,319
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/28/2018 12/28/18 Sold $150,000 -18.9% $25 / Sq Ft
11/28/2018 11/28/18 Pending -- -- --
04/09/2018 04/09/18 For Sale $185,000 -- $31 / Sq Ft
Source: Northwest Arkansas Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

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
2025 $1,671 $52,060 $16,000 $36,060
2024 $1,559 $52,060 $16,000 $36,060
2023 $1,450 $52,060 $16,000 $36,060
2022 $1,318 $26,950 $8,000 $18,950
2021 $1,318 $26,950 $8,000 $18,950
2020 $1,318 $26,950 $8,000 $18,950
2019 $1,687 $34,500 $8,000 $26,500
2018 $1,687 $34,500 $8,000 $26,500
2017 $167 $34,500 $8,000 $26,500
2016 $1,670 $34,500 $8,000 $26,500
2015 $1,670 $34,500 $8,000 $26,500
2014 $1,551 $32,040 $9,100 $22,940
Source: Public Records

Agents Affiliated with this Home

  • M. Melissa Lee, Esq.

    Seller's Agent in 2018

    M. Melissa Lee, Esq.

    Keller Williams Market Pro Realty Branch Office

    (479) 841-5949

    1 in this area

    68 Total Sales

    M. Melissa Lee, Esq.
    Section Image

  • M

    Seller Co-Listing Agent in 2018

    Madeline Smallwood

    Collier & Associates- Rogers Branch

    (501) 551-1390

    1 in this area

    160 Total Sales

    Madeline Smallwood
    Section Image
  • Lilia Gamez

    Buyer's Agent in 2018

    Lilia Gamez

    LG Home Solutions Real Estate

    (479) 544-4636

    65 Total Sales

    Lilia Gamez
    Section Image
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Map

Source: Northwest Arkansas Board of REALTORS®

MLS Number: 1077045

Northwest Arkansas Board of REALTORS®

APN: 775-17772-000

Arkansas Washington County Fayetteville 72701

1037 N Main Ave, Fayetteville, AR

Not Listed for Sale

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Northwest Arkansas Board of REALTORS® 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.

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