$153,500
SOLD OCT 28, 2021

152 S Madison St Nappanee, IN 46550

5 Beds
3 Baths
2,040 Sq Ft
8,712 Sq Ft Lot

Recently Sold

$75 Per Sq Ft

1% Above List Price

17 Days on Market

Highlights

  • Wood Flooring
  • Covered Patio or Porch
  • Level Lot
  • NorthWood High School Rated A-
  • Forced Air Heating System

About This Home

As of October 2021

Investors, triplex located in desirable Nappanee. Solid multi unit home, beautiful natural woodwork. Down stairs, 2 bed 1 bath unit. Upstairs , 2 bed 1 bath unit. Studio unit in separate building. Current owner pays water bill, tenants pay all other utilities. Great addition to investment portfolio.

Last Agent to Sell the Property

Amy Cavender

Northern Lakes Realty Listed on: 08/08/2021

Last Buyer's Agent

Adrian Frazier

Alpha Real Estate & Investments, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,368

Year Built

  • Built in 1920

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 67x130
  • Level Lot

Parking

  • 5 Parking Spaces

Home Design

  • Triplex
  • Vinyl Construction Material

Interior Spaces

  • 2-Story Property

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Full Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Laundry in Basement

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electric, fuel
  • The owner pays for water
  • Assessor Parcel Number 20-14-31-302-007.000-029

Community Details

Overview

  • 3 Units

Pet Policy

  • Pet Restriction

Building Details

  • Insurance Expense $1,882
  • Maintenance Expense $1,200
  • Water Sewer Expense $1,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,368

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Triplex
  • Year Built: 1920
  • Age: 101
  • Style: Two Story
  • Bedrooms: 5
  • Number Above Grade Bedrooms: 5
  • Total Bathrooms: 3
  • Total Full Bathrooms: 3
  • Legal Description: Orig Lot 39
  • Parcel Number ID: 20-14-31-302-007.000-029
  • Platted: Yes
  • Amenities: Basement, Porch Covered
  • Grid: 60 Elkhart Co.
  • Sp Lp Percent: 100
  • Monthly Gross Income: 1800
  • Special Features: None

Interior Features

  • Total Sq Ft: 3060
  • Total Finished Sq Ft: 2040
  • Above Grade Finished Sq Ft: 2040
  • Below Grade Sq Ft: 1020
  • Price Per Sq Ft: 75.25
  • Basement: Yes
  • Basement Foundation: Full Basement, Unfinished
  • Flooring: Carpet, Wood
  • Total Below Grade Sq Ft: 1020
  • Number Of Ranges Ovens: 3

Exterior Features

  • Exterior: Vinyl
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 5

Utilities

  • Heating Fuel: Gas, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Insurance Expense: 1882
  • Annual Maintenance Expense: 1200
  • Annual Water Sewer Expense: 1800
  • Number Of W D Hookups: 1

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • School District: Wa-Nee Community Schools
  • Elementary School: Nappanee
  • Middle School: NorthWood
  • High School: NorthWood

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 67x130
  • Estimated Lot Sq Ft: 8712
  • Estimated Lot Size Acres: 0.2

Rental Info

  • Lease Term: Month to Month
  • Owner Pays: Water
  • Tenant Pays: Electric, Fuel

Multi Family

  • Gross Monthly Rent: 1800
  • Number Of Refrigerators: 3
  • Number Of Units: 3
  • Num Of2 Bedrooms: 2
  • Num Of Efficiencies: 1
  • Num Of Units Rented: 3

Tax Info

  • Annual Property Tax: 2368

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 8, 2021
Closed on
Oct 28, 2021
Sold by
Bontrager Darren Jon
Bought by
Porter Preston T
Seller's Agent
Amy Cavender
Northern Lakes Realty
Buyer's Agent
Adrian Frazier
Alpha Real Estate & Investments, Inc.
List Price
$152,500
Sold Price
$153,500
Premium/Discount to List
$1,000
0.66%
Current Estimated Value
$224,239

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$70,739
Avg. Annual Appreciation
10.12%
Original Mortgage
$150,719
Outstanding Balance
$137,740
Interest Rate
2.8%
Mortgage Type
FHA
Estimated Equity
$86,499

Purchase Details

Listed on
Apr 5, 2019
Closed on
Sep 26, 2019
Sold by
Michiana Rental Properties Llc
Bought by
Bontrager Darren Jon
Seller's Agent
Brad Beer
Heart City Realty LLC
Buyer's Agent
Amy Cavender
Northern Lakes Realty
List Price
$149,900
Sold Price
$112,000
Premium/Discount to List
-$37,900
-25.28%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.28%
Original Mortgage
$78,750
Interest Rate
3.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 12, 2018
Sold by
Borkholder Dwayne A
Bought by
Michiana Rental Properties Llc

Purchase Details

Closed on
Sep 17, 2008
Sold by
Stillson James B and Stillson Patricia
Bought by
Borkholder Dwayne A

Purchase Details

Closed on
Nov 29, 2004
Sold by
Dave & Andys Construction Co Inc
Bought by
Stillson James B and Stillson Patricia
Source: Public Records

Range of Values:

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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

Purchase History

Date Type Sale Price Title Company
Warranty Deed $153,500 None Available
Warranty Deed -- Fidelity National Ttl Co Llc
Warranty Deed -- Fidelity National Ttl Co Llc
Land Contract $105,000 Hamilton Title
Warranty Deed -- Heritage Parke Title Llc
Corporate Deed -- Stewart Title Of Elkhart Cou
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $150,719 FHA
Previous Owner $78,750 New Conventional
Closed $0 Seller Take Back
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/28/2021 10/28/21 Sold $153,500 0.0% $75 / Sq Ft
08/09/2021 08/09/21 Price Changed $153,500 +0.7% $75 / Sq Ft
08/08/2021 08/08/21 For Sale $152,500 +36.2% $75 / Sq Ft
09/26/2019 09/26/19 Sold $112,000 -10.3% $55 / Sq Ft View Prior Sale
08/06/2019 08/06/19 Pending -- -- --
07/16/2019 07/16/19 Price Changed $124,900 -7.4% $61 / Sq Ft
06/12/2019 06/12/19 Price Changed $134,900 -3.6% $66 / Sq Ft
05/07/2019 05/07/19 Price Changed $139,900 -5.2% $69 / Sq Ft
04/23/2019 04/23/19 Price Changed $147,500 -1.6% $72 / Sq Ft
04/05/2019 04/05/19 For Sale $149,900 -- $73 / 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 $2,692 $169,800 $13,200 $156,600
2022 $2,362 $222,700 $13,200 $209,500
2021 $1,763 $167,900 $13,200 $154,700
2020 $2,362 $113,300 $13,500 $99,800
2019 $2,368 $113,400 $13,500 $99,900
2018 $2,365 $112,900 $13,500 $99,400
2017 $1,599 $79,500 $13,500 $66,000
2016 $1,599 $79,500 $13,500 $66,000
2014 $1,628 $80,900 $13,500 $67,400
2013 $1,628 $80,900 $13,500 $67,400
Source: Public Records

Agents Affiliated with this Home

  • Amy Cavender

    Seller's Agent in 2021

    Amy Cavender

    Northern Lakes Realty

    (574) 453-1872

    2 in this area

    265 Total Sales

    Amy Cavender
    Section Image
  • Adrian Frazier

    Buyer's Agent in 2021

    Adrian Frazier

    Alpha Real Estate & Investments, Inc.

    (574) 250-4812

    1 in this area

    95 Total Sales

    Adrian Frazier
    Section Image
  • Brad Beer

    Seller's Agent in 2019

    Brad Beer

    Heart City Realty LLC

    (574) 875-5149

    6 in this area

    317 Total Sales

    Brad Beer
    Section Image
See All Agents

Map

Source: Indiana Regional MLS

MLS Number: 202132519

Indiana Regional MLS

APN: 20-14-31-302-007.000-029

Indiana Elkhart County Nappanee 46550

152 S Madison St, Nappanee, IN

This home is located at 152 S Madison St, Nappanee, IN 46550 and is currently priced at $153,500, approximately $75 per square foot. This property was built in 1920. 152 S Madison St is a home located in Elkhart County with nearby schools including NorthWood High School, South Side Christian School, and Sunny Meadow Amish 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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