J
Seller's Agent in 2024
Jessica Schaffer
LPT Realty, LLC
(515) 975-7075
3 in this area
65 Total Sales
111 E 9th St Madrid, IA 50156
Estimated Value: $124,000 - $207,000
--
Bed
3
Baths
2,049
Sq Ft
$84/Sq Ft
Est. Value
Highlights
- 3 Kitchens
- Forced Air Heating System
- Carpet
- No HOA
- Asbestos
About This Home
As of June 2024Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units, with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,061
Year Built
- Built in 1885
Lot Details
- 8,844 Sq Ft Lot
- Lot Dimensions are 134x66
Parking
- Driveway
Home Design
- Asphalt Shingled Roof
- Asbestos
Interior Spaces
- 3 Full Bathrooms
- 2,049 Sq Ft Home
- 2-Story Property
- Unfinished Basement
Kitchen
- 3 Kitchens
- Stove
Flooring
- Carpet
- Laminate
- Vinyl
Utilities
- Forced Air Heating System
- Cable TV Available
Community Details
- No Home Owners Association
- 3 Units
Listing and Financial Details
- Assessor Parcel Number 088226364186042
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 8, 2007
Sold by
Isolini Bruno N
Bought by
Isolini Rick
Current Estimated Value
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Isolini Rick | $27,500 | -- |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/11/2024 06/11/24 | Sold | $90,000 | -35.7% | $44 / Sq Ft |
| 05/13/2024 05/13/24 | Pending | -- | -- | -- |
| 04/25/2024 04/25/24 | For Sale | $139,900 | -- | $68 / 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 | $2,644 | $135,729 | $25,728 | $110,001 |
| 2023 | $2,067 | $154,787 | $25,728 | $129,059 |
| 2022 | $2,428 | $93,353 | $16,080 | $77,273 |
| 2021 | $2,428 | $93,353 | $16,080 | $77,273 |
| 2020 | $2,292 | $82,050 | $11,192 | $70,858 |
| 2019 | $1,974 | $96,675 | $11,192 | $85,483 |
| 2018 | $1,895 | $79,763 | $0 | $0 |
| 2017 | $1,890 | $62,811 | $5,596 | $57,215 |
| 2016 | $1,495 | $62,811 | $5,596 | $57,215 |
| 2015 | $1,494 | $62,811 | $0 | $0 |
| 2014 | $1,460 | $62,811 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Jessica Schaffer
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 694100
APN: 088226364186042
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