NOT LISTED FOR SALE

1511 Oak Ridge Ln SE Cedar Rapids, IA 52403

Estimated Value: $92,000 - $140,000

2 Beds
1 Bath
1,004 Sq Ft
$106/Sq Ft Est. Value

Last Sold June 26, 2015

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

Current estimated payment $708/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 Listed By

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

Schools

  • Elementary School: Grant Wood
  • Middle School: McKinley
  • High School: Washington

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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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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
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

    4 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

Homes for Sale in Cedar Rapids, IA

This home is located at 1511 Oak Ridge Ln SE, Cedar Rapids, IA 52403 since 07 March 2015 and is currently estimated at $106,179, approximately $105 per square foot. This property was built in 1977. 1511 Oak Ridge Ln SE is a home located in Linn County with nearby schools including Erskine Elementary School, McKinley STEAM Academy, and George Washington 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.

Cedar Rapids Area Association of REALTORS® 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.
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