Susie Sheldahl
Realty One Group Impact
(515) 461-8610
268 Total Sales
13 in Madrid
$147K - $350K Price Range
111 E 9th St Madrid, IA 50156
Madrid AreaEstimated Value: $193,667
Studio
3
Baths
2,049
Sq Ft
$95/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!
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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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 8, 2007
Sold by
Isolini Bruno N
Bought by
Current Estimated Value
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Madrid, IA
-
Susie Sheldahl
-
Kevin Holmes
Kevin Holmes
Weichert, Miller & Clark
(515) 715-4181
48 Total Sales
2 in Madrid
$265,000 Price Range
-
Andrew Bruellman
Andrew Bruellman
Responds QuicklyRE/MAX Concepts
(515) 575-2183
218 Total Sales
1 in Madrid
$341,000 Price
-
Nate Nerem
Nate Nerem
Responds QuicklyNerem & Assoc.
(515) 500-2756
149 Total Sales
6 in Madrid
$218K - $300K Price Range
-
Roger Wheeler
Roger Wheeler
CENTURY 21 SIGNATURE-Ames
(515) 461-6831
325 Total Sales
4 in Madrid
$200K - $265K Price Range
-
Brett Mount
Brett Mount
RE/MAX Concepts-Ames
(515) 305-3680
50 Total Sales
1 in Madrid
$285,450 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $27,500 | -- |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $2,644 | $212,870 | $41,160 | $171,710 |
| 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
JS
Seller's Agent in 2024
Jessica Schaffer
LPT Realty, LLC
(515) 975-7075
63 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 694100
APN: 088226364186042
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.
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