$25,700
SOLD MAY 10, 2018

1315 W Franklin St Elkhart, IN 46516

First Neighborhood
4 Beds
3 Baths
1,460 Sq Ft
4,831 Sq Ft Lot

Recently Sold

$18 Per Sq Ft

30% Below List Price

172 Days on Market

Highlights

  • Forced Air Heating System
  • Carpet
  • 3-minute walk to Rainbow Park
  • Level Lot

About This Home

As of May 2018

Three (3) unit investment property with great cash flow! Fully occupied with a gross annual income of over $20,000. Great opportunity!

Last Agent to Sell the Property

Steve Miller

RE/MAX Results-Goshen Listed on: 11/06/2017

RE/MAX Results-Goshen

Last Buyer's Agent

David Singell

Myers Trust Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1900

Lot Details

  • 4,831 Sq Ft Lot
  • Lot Dimensions are 42 x 115
  • Level Lot

Home Design

  • Triplex

Interior Spaces

  • 2-Story Property
  • Carpet
  • Basement
  • Michigan Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Parking

  • 3 Parking Spaces
  • On-Street Parking
  • Off-Street Parking

Location

  • Suburban Location

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for heating, sewer, water
  • Assessor Parcel Number 20-06-07-239-004.000-012

Community Details

Overview

  • 3 Units

Pet Policy

  • Pet Restriction

Building Details

  • 3 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Fuel Expense $1,284
  • Insurance Expense $504
  • Maintenance Expense $500
  • Water Sewer Expense $1,478

Property Details

Home Type

Multi-Family

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Triplex
  • Year Built: 1900
  • Age: 118
  • Style: Two Story
  • Bedrooms: 4
  • Number Above Grade Bedrooms: 4
  • Total Bathrooms: 3
  • Total Full Bathrooms: 3
  • Legal Description: 42X115.5FT W FRANKLIN E1/2 NW; SEC 7 .11
  • Parcel Number ID: 20-06-07-239-004.000-012
  • Platted: Yes
  • Inside City Limits: Yes
  • Location: City/Town/Suburb
  • Sp Lp Percent: 85.7
  • Monthly Gross Income: 1727
  • Special Features: None

Interior Features

  • Total Sq Ft: 2327
  • Total Finished Sq Ft: 1460
  • Above Grade Finished Sq Ft: 1460
  • Below Grade Sq Ft: 867
  • Price Per Sq Ft: 17.6
  • Basement: Yes
  • Basement Foundation: Michigan Basement
  • Flooring: Carpet
  • Total Below Grade Sq Ft: 867
  • Number Of Ranges Ovens: 3
  • Number Ttl Rooms Below Grade: 1

Exterior Features

  • Exterior: Aluminum
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 3
  • Parking: Off Street, Street

Utilities

  • Heating Fuel: Gas, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Fuel Expense: 1284
  • Annual Insurance Expense: 504
  • Annual Maintenance Expense: 500
  • Annual Water Sewer Expense: 1478
  • Number Electric Meters: 3
  • Number Gas Meters: 1
  • Number Water Meters: 1

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • School District: Elkhart Community Schools
  • Elementary School: Roosevelt
  • Middle School: North Side
  • High School: Elkhart Central

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 42 x 115
  • Estimated Lot Sq Ft: 4831
  • Estimated Lot Size Acres: 0.1109

Rental Info

  • Owner Pays: Heating, Sewer, Water
  • Tenant Pays: Electric

Multi Family

  • Gross Monthly Rent: 1727
  • Number Of Refrigerators: 3
  • Number Of Units: 3
  • Num Of1 Bedrooms: 1
  • Num Of2 Bedrooms: 1
  • Num Of Efficiencies: 1
  • Num Of Units Rented: 3

Tax Info

  • Annual Property Tax: 1290.76

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 29, 2020
Sold by
W Joel Nichols Revocable Trust
Bought by
Schwartz James D
Current Estimated Value
$132,763

Purchase Details

Closed on
Jul 20, 2020
Sold by
W Joel Nichols Revocable Trust and W Joel Nichols Revocable Trust
Bought by
Schwartz James D

Purchase Details

Listed on
Nov 6, 2017
Closed on
Jun 5, 2018
Sold by
W Joel Nichols February 9 2001
Bought by
Schwartz James D
Seller's Agent
Steve Miller
RE/MAX Results-Goshen
Buyer's Agent
David Singell
Myers Trust Real Estate
List Price
$36,900
Sold Price
$25,700
Premium/Discount to List
-$11,200
-30.35%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.94%

Purchase Details

Listed on
Nov 6, 2017
Closed on
May 14, 2018
Sold by
Myhome Properties Llc
Bought by
W Joel Nichols Revocable Trust
Seller's Agent
Steve Miller
RE/MAX Results-Goshen
Buyer's Agent
David Singell
Myers Trust Real Estate
List Price
$36,900
Sold Price
$25,700
Premium/Discount to List
-$11,200
-30.35%

Purchase Details

Listed on
Nov 6, 2017
Closed on
May 11, 2018
Sold by
W Joel Nichols February 9 2001
Bought by
Schwartz James D
Seller's Agent
Steve Miller
RE/MAX Results-Goshen
Buyer's Agent
David Singell
Myers Trust Real Estate
List Price
$36,900
Sold Price
$25,700
Premium/Discount to List
-$11,200
-30.35%

Purchase Details

Listed on
Jun 27, 2015
Closed on
Jan 29, 2016
Sold by
G Group Property Management Llc
Bought by
Myhome Properties Llc
Seller's Agent
Shelley Tucker
Assurance Property Management & Realty Inc
Buyer's Agent
Cliff Miller
Hallmark Excellence Realty
List Price
$32,000
Sold Price
$28,000
Premium/Discount to List
-$4,000
-12.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-3.69%

Purchase Details

Closed on
Jun 15, 2015
Sold by
Out Of The Box Llc
Bought by
The 1315 Franklin Land Trust

Purchase Details

Closed on
Dec 15, 2011
Sold by
The Stuart W Statler Living Trust
Bought by
Out Of The Box Llc

Purchase Details

Closed on
Nov 30, 2004
Sold by
Stuart W Statler Living Trust
Bought by
The Stuart W Statler Living Trust
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Trustee Deed -- Fidelity National Title
Trustee Deed -- Fidelity National Title
Contract Of Sale $42,080 Fidelity National Title
Warranty Deed -- None Listed On Document
Warranty Deed -- None Listed On Document
Contract Of Sale $42,080 Fidelity National Title
Deed -- Hamilton Title
Deed -- Hamilton Title
Quit Claim Deed -- None Available
Trustee Deed -- Lawyers Title
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Closed $0 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/10/2018 05/10/18 Sold $25,700 -30.4% $18 / Sq Ft
04/27/2018 04/27/18 Pending -- -- --
11/06/2017 11/06/17 For Sale $36,900 +31.8% $25 / Sq Ft
01/29/2016 01/29/16 Sold $28,000 -12.5% $19 / Sq Ft
12/24/2015 12/24/15 Pending -- -- --
06/27/2015 06/27/15 For Sale $32,000 +140.1% $22 / Sq Ft
08/05/2013 08/05/13 Sold $13,330 -59.5% $9 / Sq Ft
07/25/2013 07/25/13 Pending -- -- --
11/15/2012 11/15/12 For Sale $32,900 -- $23 / Sq Ft
Source: Indiana Regional MLS

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 $2,120 $110,600 $7,200 $103,400
2022 $2,120 $52,700 $7,200 $45,500
2021 $1,084 $52,700 $7,200 $45,500
2020 $1,153 $52,700 $7,200 $45,500
2019 $1,170 $53,700 $3,700 $50,000
2018 $673 $30,400 $3,700 $26,700
2017 $675 $46,500 $3,700 $42,800
2016 $1,292 $59,000 $7,200 $51,800
2014 $1,281 $60,100 $7,200 $52,900
2013 $1,152 $57,600 $11,200 $46,400
Source: Public Records

Agents Affiliated with this Home

  • Steve Miller

    Seller's Agent in 2018

    Steve Miller

    RE/MAX

    (574) 238-1436

    362 Total Sales

    Section Image
  • David Singell

    Buyer's Agent in 2018

    David Singell

    Myers Trust Real Estate

    (574) 536-1191

    1 in this area

    159 Total Sales

    Section Image

  • S

    Seller's Agent in 2016

    Shelley Tucker

    Assurance Property Management & Realty Inc

    (574) 320-3300

    62 Total Sales

    Section Image

  • C

    Buyer's Agent in 2016

    Cliff Miller

    Hallmark Excellence Realty

    Section Image

  • M

    Seller's Agent in 2013

    Morgan Lytle

    Realty Executives

    (574) 304-9583

    2 in this area

    100 Total Sales

    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 201751227

Indiana Regional MLS

APN: 20-06-07-239-004.000-012

Indiana Elkhart County Elkhart 46516 First

1315 W Franklin St, Elkhart, IN

This home is located at 1315 W Franklin St, Elkhart, IN 46516 and is currently priced at $25,700, approximately $17 per square foot. This property was built in 1900. 1315 W Franklin St is a home located in Elkhart County with nearby schools including Mary Daly Elementary School, West Side Middle School, and Elkhart 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.

Indiana Regional MLS 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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