1301 24th St Des Moines, IA 50311
Drake NeighborhoodEstimated Value: $314,000 - $476,000
--
Bed
4
Baths
3,145
Sq Ft
$127/Sq Ft
Est. Value
Highlights
- 3 Kitchens
- Laundry Room
- Forced Air Heating and Cooling System
- No HOA
- Storage
About This Home
As of June 2018Turn Key Investment Property. 8% Return on this Very Low touch Investment. FULLY Leased, RE-CERTIFIED New 3 Year RENTAL CERTIFICATES, NEW 1 YEAR LEASES. Tenants are all Young Professionals, has been Fully Leased from Day one. Great Property for New Investor to Own and Break into the Des Moines Market. Property is Directly on Campus and always Full. Income per year $30,600. Expenses per Year $6,630. Separate Gas and Electric Meters, water shared between house and duplex & landlord pays, 3 Units total.House renovated and restored in 2014-New Hvac, Plumbing, Electrical,driveway, on site Laundry., Duplex renovated and rebuilt in 2014-New framing, Siding , All Electrical Hotel Heating & Cooling,Plumbing, Electrical etc. and so much more. Tax Abatement through 2024.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $911
Year Built
- Built in 1912
Lot Details
- 6,490 Sq Ft Lot
- Lot Dimensions are 122.5x53.2
Home Design
- Brick Foundation
- Slab Foundation
- Frame Construction
Interior Spaces
- 4 Bathrooms
- 3,145 Sq Ft Home
- 1.5-Story Property
- Storage
- Laundry Room
- 3 Kitchens
- Unfinished Basement
Utilities
- Forced Air Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number 08006903000000
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $527
- Gross Income $2,550
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 15, 2018
Closed on
Jun 26, 2018
Sold by
Dsmblc Holdings Inc
Bought by
Chen Ri Hua and Yuan Jian Qin
Seller's Agent
Randy Murphy
LPT Realty, LLC
Buyer's Agent
Donna Bistrican
Fathom Realty
List Price
$315,000
Sold Price
$300,000
Premium/Discount to List
-$15,000
-4.76%
Total Days on Market
44
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$100,109
Avg. Annual Appreciation
4.05%
Original Mortgage
$260,000
Outstanding Balance
$229,048
Interest Rate
4.6%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$165,691
Purchase Details
Closed on
Apr 10, 2007
Sold by
Red Branch Financial Corp
Bought by
Critelli Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$101,000
Interest Rate
6.2%
Mortgage Type
Purchase Money Mortgage
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Similar Homes in Des Moines, IA
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Chen Ri Hua | $300,000 | None Available | |
| Critelli Properties Llc | $101,000 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Chen Ri Hua | $260,000 | |
| Previous Owner | Dsmblc Holdings Inc | $1,018,000 | |
| Previous Owner | Critelli Properties Llc | $101,000 | |
| Previous Owner | Red Branch Financial Corp | $87,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/28/2018 06/28/18 | Sold | $300,000 | -4.8% | $95 / Sq Ft |
| 06/28/2018 06/28/18 | Pending | -- | -- | -- |
| 05/15/2018 05/15/18 | For Sale | $315,000 | -- | $100 / 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 | $2,534 | $128,800 | $12,800 | $116,000 |
| 2023 | $1,480 | $305,300 | $12,800 | $292,500 |
| 2022 | $1,468 | $239,300 | $10,200 | $229,100 |
| 2021 | $1,014 | $239,300 | $10,200 | $229,100 |
| 2020 | $1,052 | $217,100 | $9,200 | $207,900 |
| 2019 | $928 | $217,100 | $9,200 | $207,900 |
| 2018 | $918 | $211,000 | $8,700 | $202,300 |
| 2017 | $941 | $211,000 | $8,700 | $202,300 |
| 2016 | $712 | $199,100 | $8,100 | $191,000 |
| 2015 | $596 | $199,100 | $8,100 | $191,000 |
| 2014 | $1,198 | $161,900 | $7,900 | $154,000 |
Source: Public Records
Agents Affiliated with this Home
-
Randy Murphy
Seller's Agent in 2018
Randy Murphy
LPT Realty, LLC
3 in this area
46 Total Sales
-
Donna Bistrican
Buyer's Agent in 2018
Donna Bistrican
Fathom Realty
(515) 954-5928
31 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 561058
APN: 080-06903000000
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