NOT LISTED FOR SALE

Estimated Value: $292,000 - $346,000

4 Beds
2 Baths
1,920 Sq Ft
$168/Sq Ft Est. Value

Last Sold May 31, 2016

Last sale price $130,000 $68 Per Sq Ft

Est. 154% increase in value since last sale

Current estimated payment $2,237/month

169 Days on Market

Highlights

  • Storm Windows
  • 2 Car Garage
  • Laundry Facilities
  • Baseboard Heating

About This Home

As of May 2016

Two unit apartment building in excellent condition. Code free and fully rented, this building offers an excellent investment opportunity with good income and investment potential. Both units are identical with two bedrooms, living room and kitchen and bathroom. Both units have one garage parking space and one driveway parking space and both have access to the basement laundry room. All appliances will be included with the sale including the washers and dryers. The landlord does not have an owners meter and the tenants are responsible for all utilities. Electric baseboard heat in both apartments. Owner pays water bills. 2nd Floor tenant has a month to month lease and third floor has a one year lease. Rents are slightly below market value for the area. Both units currently rented at $775/month and other units of similar size in the immediate area are renting for $875 month.

Last Agent to Sell the Property

Christopher Giovenco

Rudy Amelio Real Estate Listed on: 10/22/2015

Rudy Amelio Real Estate

Last Buyer's Agent

Fred Suter

IronValley RE of Lehigh Valley

IronValley RE of Lehigh Valley

Townhouse Details

Home Type

  • Townhome

Year Built

  • Built in 1979

Lot Details

  • 4,146 Sq Ft Lot

Parking

  • 2 Car Garage

Home Design

  • Semi-Detached or Twin Home
  • Brick Exterior Construction

Interior Spaces

  • 1,920 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Home Security

Utilities

  • No Cooling
  • Baseboard Heating

Listing and Financial Details

  • Assessor Parcel Number 640603885823001

Community Details

Building Details

  • Insurance Expense $600
  • Water Sewer Expense $500
  • Operating Expense $4,225
  • Gross Income $18,600
  • Net Operating Income $13,775

Security

  • Storm Windows
  • Storm Doors

Additional Features

  • 2 Units
  • Laundry Facilities

Townhouse Details

Home Type

Townhome

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Semi Detached/Twin
  • County Assessment: 155600.00
  • Stories: 3.0
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1979
  • Special Features: None

Interior Features

  • Features: Central Laundry, Storm Doors, Storm Windows
  • Bathrooms: Semi Modern
  • Bathrooms: 2
  • Full Bathrooms: 2
  • Bedrooms: 4
  • Square Footage: 1920

Exterior Features

  • Construction: Brick

Garage/Parking

  • Parking: Garage
  • Parking Spaces: 2

Utilities

  • Cooling: No Air
  • Heat Type: Baseboard, Electric
  • Sewer: Public
  • Water: Public
  • Insurance: 600
  • Water Sewer: 500

Fee Information

  • Operating Expense: 4225

Schools

  • School District: Allentown

Lot Info

  • Acres: 0.095
  • Lot Dimensions: irregular
  • Lot Sq Ft: 4146
  • Zoning Code: Duplex

Tax Info

  • Assessor Parcel Number: 640603885823001
  • County Taxes: 583.50
  • Municipal Taxes: 790.46
  • Total Taxes: 4225.91

Multi Family

  • School Taxes: 2851.95
  • Total Units: 2
  • Total Unit Count: 2

MLS Schools

  • School District: Allentown

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 22, 2015
Closed on
May 27, 2016
Sold by
Kinek James D and Connelley Kinek Mary Ellen
Bought by
Patel Hiteshkumar and Rabari Sunilkumar C
Seller's Agent
Christopher Giovenco
Rudy Amelio Real Estate
Buyer's Agent
Fred Suter
IronValley RE of Lehigh Valley
List Price
$159,900
Sold Price
$130,000
Premium/Discount to List
-$29,900
-18.7%
Current Estimated Value
$330,490

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$200,490
Avg. Annual Appreciation
10.36%
Original Mortgage
$97,500
Interest Rate
3.59%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 25, 2005
Sold by
Wertman Susan Y
Bought by
Kinek James D and Connolley Kinek Mary Ellen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$123,300
Interest Rate
5.95%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Sep 23, 2004
Sold by
Linn Stephanie L and Linn Todd M
Bought by
Wertman Susan Y

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$84,600
Interest Rate
5.89%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 19, 2001
Sold by
Behm Stephanie L and Linn Stephanie L
Bought by
Linn Todd M and Linn Stephanie L

Purchase Details

Closed on
Nov 30, 1978
Bought by
Babiak Francis and Mary Babiak
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 Buyer Sale Price Title Company
Patel Hiteshkumar $130,000 None Available
Kinek James D $137,000 --
Wertman Susan Y $94,000 --
Linn Todd M -- --
Babiak Francis $12,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Patel Hiteshkumar $650,000
Closed Patel Hiteshkumar $97,500
Previous Owner Kinek James D $107,500
Previous Owner Kinek James D $123,300
Previous Owner Wertman Susan Y $84,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/31/2016 05/31/16 Sold $130,000 -18.7% $68 / Sq Ft
04/08/2016 04/08/16 Pending -- -- --
10/22/2015 10/22/15 For Sale $159,900 -- $83 / Sq Ft
Source: Greater Lehigh Valley 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 $5,119 $155,600 $16,500 $139,100
2024 $5,119 $155,600 $16,500 $139,100
2023 $5,119 $155,600 $16,500 $139,100
2022 $4,942 $155,600 $139,100 $16,500
2021 $4,844 $155,600 $16,500 $139,100
2020 $4,719 $155,600 $16,500 $139,100
2019 $4,644 $155,600 $16,500 $139,100
2018 $4,326 $155,600 $16,500 $139,100
2017 $4,217 $155,600 $16,500 $139,100
2016 -- $155,600 $16,500 $139,100
2015 -- $155,600 $16,500 $139,100
2014 -- $155,600 $16,500 $139,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 507113

Greater Lehigh Valley REALTORS®

APN: 640603885823-1