1419 E 40th St Des Moines, IA 50317
Gray's Woods NeighborhoodEstimated Value: $131,000 - $230,000
--
Bed
2
Baths
1,096
Sq Ft
$179/Sq Ft
Est. Value
Highlights
- 2 Kitchens
- No HOA
- Forced Air Heating and Cooling System
About This Home
As of May 2024Great 3 Bed Duplex Opportunity in Des Moines' East side. One unit is recently vacated. Occupied unit is on month to month at $700, rent comps are $1300. It needs a little work to get there, but it won't take much. All utilities separated and tenants take care of Lawn & Snow. Both units have all 3 bedrooms and bathroom on Upper Level, with the Living Room and Kitchen on the Main Level. Built 1983. CapRate 8.5%12.3% Cash on Cash Return after renovation. Buy before Interest Rates drop and buyer demand floods back into the market. Potential Seller paid Rate Buy-down available. All information obtained from seller and public records.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,452
Year Built
- Built in 1983
Lot Details
- 8,537 Sq Ft Lot
- Lot Dimensions are 68x125
Home Design
- 1,096 Sq Ft Home
- Duplex
- Block Foundation
- Asphalt Shingled Roof
- Metal Siding
Additional Features
- 2 Kitchens
- 2 Full Bathrooms
- Forced Air Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number 06000711104002
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Operating Expense $870
- Gross Income $2,470
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 16, 2024
Closed on
May 6, 2024
Sold by
Bg Properties Group Llc
Bought by
Hoven Kylene Collette
Seller's Agent
Elizabeth Keller
CHASE Collective
Buyer's Agent
Mindy Cochran
Realty ONE Group Impact
List Price
$230,000
Sold Price
$225,000
Premium/Discount to List
-$5,000
-2.17%
Total Days on Market
87
Views
41
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
-$28,553
Avg. Annual Appreciation
-11.91%
Original Mortgage
$220,924
Outstanding Balance
$218,788
Interest Rate
6.79%
Mortgage Type
FHA
Estimated Equity
-$22,341
Purchase Details
Closed on
Oct 19, 2017
Sold by
Graeve Brian J and Graeve Annette M
Bought by
Bg Properties Group Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,000
Interest Rate
3.88%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Purchase Details
Closed on
Apr 9, 2004
Sold by
Welshons Jan Marie and Welshons James L
Bought by
Graeve Brian J and Graeve Annette M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
5.66%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jun 5, 2001
Sold by
Welshons James L and Welshons Jan Marie
Bought by
Welshons Jan Marie
Purchase Details
Closed on
Feb 27, 1997
Sold by
Underhill Collin M and Underhill Julie
Bought by
Welshons James L and Welshons Jan M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,125
Interest Rate
7.93%
Similar Homes in Des Moines, IA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Hoven Kylene Collette | $225,000 | None Listed On Document | |
| Bg Properties Group Llc | -- | None Available | |
| Graeve Brian J | $124,500 | -- | |
| Welshons Jan Marie | -- | -- | |
| Welshons James L | $77,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Hoven Kylene Collette | $220,924 | |
| Previous Owner | Bg Properties Group Llc | $75,000 | |
| Previous Owner | Bg Properties Group Llc | $76,000 | |
| Previous Owner | Graeve Brian J | $85,462 | |
| Previous Owner | Graeve Brian J | $100,000 | |
| Previous Owner | Welshons James L | $58,125 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/07/2024 05/07/24 | Sold | $225,000 | -2.2% | $205 / Sq Ft |
| 04/12/2024 04/12/24 | Pending | -- | -- | -- |
| 04/11/2024 04/11/24 | For Sale | $230,000 | 0.0% | $210 / Sq Ft |
| 03/08/2024 03/08/24 | Pending | -- | -- | -- |
| 02/29/2024 02/29/24 | For Sale | $230,000 | +2.2% | $210 / Sq Ft |
| 01/18/2024 01/18/24 | Off Market | $225,000 | -- | -- |
| 01/16/2024 01/16/24 | For Sale | $230,000 | -- | $210 / 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 | $3,694 | $187,800 | $21,700 | $166,100 |
| 2023 | $3,452 | $187,800 | $21,700 | $166,100 |
| 2022 | $3,426 | $146,500 | $17,700 | $128,800 |
| 2021 | $3,232 | $146,500 | $17,700 | $128,800 |
| 2020 | $3,358 | $129,500 | $15,500 | $114,000 |
| 2019 | $3,104 | $129,500 | $15,500 | $114,000 |
| 2018 | $3,072 | $115,500 | $13,500 | $102,000 |
| 2017 | $2,978 | $115,500 | $13,500 | $102,000 |
| 2016 | $2,902 | $110,100 | $12,600 | $97,500 |
| 2015 | $2,902 | $110,100 | $12,600 | $97,500 |
| 2014 | $2,686 | $104,900 | $12,000 | $92,900 |
Source: Public Records
Agents Affiliated with this Home
-
Elizabeth Keller
Seller's Agent in 2024
Elizabeth Keller
CHASE Collective
(515) 423-5607
4 in this area
316 Total Sales
-
Chase Keller
C
Seller Co-Listing Agent in 2024
Chase Keller
CHASE Collective
(319) 231-1160
3 in this area
24 Total Sales
-
Mindy Cochran
Buyer's Agent in 2024
Mindy Cochran
Realty ONE Group Impact
(515) 423-3415
1 in this area
39 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 687752
APN: 060-00711104002
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