NOT LISTED FOR SALE

121 Franklin St Cedar Falls, IA 50613

Estimated Value: $275,427 - $318,000

4 Beds
4 Baths
1,440 Sq Ft
$201/Sq Ft Est. Value

Last Sold March 02, 2021

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

Est. 32% increase in value since last sale

Current estimated payment $1,869/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
$289,357

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
6.06%
Original Mortgage
$176,000
Interest Rate
2.7%
Mortgage Type
Future Advance Clause Open End Mortgage

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:

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Average Value
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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 Change Sq Ft Price
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
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

    36 in this area

    98 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

This home is located at 121 Franklin St, Cedar Falls, IA 50613 since 03 December 2020 and is currently estimated at $289,357, approximately $200 per square foot. This property was built in 1880. 121 Franklin St is a home located in Black Hawk County with nearby schools including Lincoln Elementary School, Holmes Junior High School, and Cedar Falls High School.

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.

Northeast Iowa Regional 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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