NOT LISTED FOR SALE

121 Franklin St Cedar Falls, IA 50613

Estimated Value: $249,000 - $288,000

4 Beds
4 Baths
1,440 Sq Ft
$189/Sq Ft Est. Value

Last Sold March 02, 2021

Last sale price $220,000 $153 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $1,772/month

26 Days on Market

Highlights

  • Laundry Room
  • Holmes Junior High School Rated A-
  • 1-minute walk to Overman Park

About This Home

As of March 2021

A great investment opportunity near the fast growing downtown Cedar Falls. This four-plex features four one bedroom and one-bathroom units. Each unit is easy to rent and features a low turnover.

Last Agent to Sell the Property

Phillip Shirk

AWRE - Commercial & Development License #B63101000 Listed on: 12/03/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,195

Year Built

  • Built in 1880

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 66x132

Home Design

  • Quadruplex
  • Asphalt Roof
  • Vinyl Siding

Interior Spaces

  • 1,440 Sq Ft Home
  • Exterior Basement Entry

Laundry

  • Laundry Room
  • Laundry on lower level

Parking

  • 4 Open Parking Spaces
  • Parking Available

Schools

  • Lincoln Elementary Cf
  • Holmes Junior High
  • Cedar Falls High School

Utilities

  • Window Unit Cooling System

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 891412177003

Community Details

Overview

  • 4 Units

Building Details

  • Water Sewer Expense $80
  • Operating Expense $14,624
  • Gross Income $27,975
  • Net Operating Income $13,351

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,195

Year Built

Built in 1880

Lot Details

0

Listing Details

  • Parcel Number: 891412177003
  • Year Built: 1880
  • Property Sub-Type: Fourplex
  • PropertyType: Residential Income
  • ResoLaundryFeatures: Laundry Room, Lower Level
  • Lot Size Acres: 0.2
  • Co List Office Phone: 319-269-2477
  • MLS Status: Closed
  • Above Grade Finished Sq Ft: 1440
  • Reso Roof: Asphalt
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Entrance-Outside

Exterior Features

  • Construction Type: Vinyl Siding
  • Siding: Vinyl

Garage/Parking

  • Open Parking Spaces: 4
  • Parking Features: Detached, Parking Area

Utilities

  • Cooling: Window Unit(s)
  • Sewer: City Sewer
  • Utilities: Cable Paid by Individual, Garbage in Rent, Gas in Rent, Water in Rent
  • Water Source: City

Fee Information

  • Annual Water Sewer Expense: 80

Schools

  • Elementary School: Lincoln Elementary CF
  • High School: Cedar Falls High
  • Middle Or Junior School: Holmes Junior High

Lot Info

  • Zoning: C-1
  • Lot Dimensions: 66x132
  • Lot Size Sq Ft: 8712

Rental Info

  • Tenant Pays: Electricity
  • Lease Term: Over 9 Months

Multi Family

  • Gross Income: 27975
  • Operating Expense: 14624
  • Number Of Units Total: 4
  • Net Operating Income: 13351

Tax Info

  • Tax Annual Amount: 4195

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 22, 2022
Sold by
Harding Joshua S
Bought by
Hardway Properties Llc
Current Estimated Value
$272,127

Purchase Details

Listed on
Dec 3, 2020
Closed on
Mar 1, 2021
Sold by
Mueller Aaron L and Mueller Ashley
Bought by
Harding Joshua
Seller's Agent
Phillip Shirk
AWRE - Commercial & Development
List Price
$240,000
Sold Price
$220,000
Premium/Discount to List
-$20,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.60%

Purchase Details

Closed on
Aug 29, 2006
Sold by
Benda Jim K and Benda Suzanne M
Bought by
Mueller Aaron L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$32,300
Interest Rate
6.7%
Mortgage Type
Commercial
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
Hardway Properties Llc -- --
Harding Joshua $220,000 None Available
Mueller Aaron L $174,500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mueller Aaron L $32,300
Previous Owner Mueller Aaron L $139,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/02/2021 03/02/21 Sold $220,000 -8.3% $153 / Sq Ft
12/29/2020 12/29/20 Pending -- -- --
12/03/2020 12/03/20 For Sale $240,000 -- $167 / Sq Ft
Source: Northeast Iowa Regional 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 $4,016 $287,380 $48,510 $238,870
2024 $4,016 $234,950 $32,340 $202,610
2023 $3,646 $234,950 $32,340 $202,610
2022 $4,344 $197,450 $38,810 $158,640
2021 $3,958 $197,450 $38,810 $158,640
2020 $4,194 $177,620 $38,810 $138,810
2019 $4,194 $138,810 $0 $138,810
2018 $4,474 $132,200 $0 $132,200
2017 $4,474 $132,200 $0 $132,200
2016 $4,686 $132,200 $0 $132,200
2015 $4,686 $132,200 $0 $132,200
2014 $4,780 $171,010 $38,810 $132,200
Source: Public Records

Agents Affiliated with this Home

  • Phillip Shirk

    Seller's Agent in 2021

    Phillip Shirk

    AWRE - Commercial & Development

    (319) 239-4446

    27 in this area

    87 Total Sales

    Phillip Shirk
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Map

Source: Northeast Iowa Regional Board of REALTORS®

MLS Number: NBR20205984

Northeast Iowa Regional Board of REALTORS®

APN: 8914-12-177-003

Iowa Black Hawk County Cedar Falls 50613

121 Franklin St, Cedar Falls, IA

Not Listed for Sale

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