NOT LISTED FOR SALE

1511 Oak Ridge Ln SE Cedar Rapids, IA 52403

Estimated Value: $91,000 - $171,000

2 Beds
1 Bath
1,004 Sq Ft
$114/Sq Ft Est. Value

Last Sold June 26, 2015

Last sale price $262,000 $261 Per Sq Ft

Current estimated payment $702/month

83 Days on Market

Highlights

  • Deck
  • Central Air
  • Fenced
  • Home Security System
  • 4 Car Garage

About This Home

As of June 2015

Rare opportunity to own all 4 condos and the entire association. The property consist of three 2-bedroom/2-bathroom units and one 3-bedroom/3-bathroom 'owners' suite with a finished lower level. Each condo has their own furnace/central air/hot water heater & are on separate meters. Each condo also has their own 9'x21' laundry/storage room. 5 stall garage and 2 stalls have gas furnace heat. Permanent metal roof with gutter guards. Excellent rental history with current potential annual income over $24,000/year. Growing neighborhood with new homes and condos being built nearby. Property appraised in April 2015 for $267,000. Seller is licensed Realtor in Iowa.

Last Agent to Sell the Property

Robert Young

SKOGMAN REALTY Listed on: 03/07/2015

SKOGMAN REALTY

Last Buyer's Agent

Robert Young

SKOGMAN REALTY Listed on: 03/07/2015

SKOGMAN REALTY

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,602

Year Built

  • 1977

Parking

  • 4 Car Garage

Home Design

  • 1,004 Sq Ft Home
  • Frame Construction

Utilities

  • Central Air
  • Heating System Uses Gas

Additional Features

  • Deck
  • Fenced

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water

Community Details

Overview

  • Property has a Home Owners Association

Building Details

  • Gross Income $33,600
  • Net Operating Income $24,497

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,602

Year Built

1977

Lot Details

0

Listing Details

  • City Name: Cedar Rapids
  • Condo Co-Op YN: Yes
  • Gross Tax: 4602
  • Last City Inspection: 2014
  • List User Cell Phone: 319-310-2828
  • Miscellaneous: Basement, Deck/Patio, Fencing, Garage, Parking Spaces, Security System, Sep. Meter – Gas, Ten Storag
  • Net Tax: 4602
  • Noof Units Three Bedroom: 1
  • Noof Units Two Bedroom: 3
  • Property Sub Types: 1-4 Units
  • Property Type: Multi-Family
  • Ratio Close Price By List Price: 0.98127
  • Ratio Close Price By Original Li: 1.00383
  • Ratio Current Price By Sq Ft: 260.96
  • Total Sq Ft: 1004
  • Style St: Upper/Lower
  • Tax Roll Number: 142617602801000003
  • Tenants Responsibilities Include: Electricity, Gas
  • Water Sewer Roads: City Sewer, City Water
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1977

Exterior Features

  • Construction Methods: Frame
  • Exterior: Partial Stone, Wood

Garage/Parking

  • Number Of Parking Spaces: 4

Utilities

  • Heating Cooling: Central Air, Gas Heat

Condo/Co-op/Association

  • Association: Yes

Lot Info

  • Lot Size: IRREGULAR

Rental Info

  • Owner Pays: Water
  • Total Expenses: 9103

Multi Family

  • Gross Income: 33600
  • Net Operating Income: 24497.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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

Property History

Date Event Price List to Sale Price per Sq Ft
06/26/2015 06/26/15 Sold $262,000 +0.4% $261 / Sq Ft
05/29/2015 05/29/15 Pending -- -- --
03/07/2015 03/07/15 For Sale $261,000 -- $260 / Sq Ft
Source: Cedar Rapids Area Association 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
2025 $1,178 $74,900 $12,000 $62,900
2024 $1,362 $66,600 $10,000 $56,600
2023 $1,362 $66,600 $10,000 $56,600
2022 $1,338 $64,600 $10,000 $54,600
2021 $1,376 $64,600 $10,000 $54,600
2020 $1,376 $62,400 $10,000 $52,400
2019 $1,346 $62,400 $10,000 $52,400
2018 $1,154 $62,400 $10,000 $52,400
2017 $1,200 $55,100 $4,500 $50,600
2016 $1,172 $55,100 $4,500 $50,600
2015 $1,178 $55,398 $4,500 $50,898
2014 $1,178 $55,398 $4,500 $50,898
2013 $1,154 $55,398 $4,500 $50,898
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2015

    Robert Young

    SKOGMAN REALTY

    (319) 310-2828

    5 Total Sales

    Robert Young
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Map

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 1501860

Cedar Rapids Area Association of REALTORS®

APN: 14261-76028-01000

Iowa Linn County Cedar Rapids 52403

1511 Oak Ridge Ln SE, Cedar Rapids, IA

Not Listed for Sale

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