NOT LISTED FOR SALE

1602 Cliffview Dr Unit 1604 Salem, VA 24153

Estimated Value: $448,000 - $491,000

6 Beds
4 Baths
3,284 Sq Ft
$144/Sq Ft Est. Value

Last Sold March 05, 2020

Last sale price $298,500 $91 Per Sq Ft

Est. 47% increase in value since last sale

Current estimated payment $2,593/month

1 Day on Market

Highlights

  • No HOA
  • Salem High School Rated A-
  • Central Air

About This Home

As of March 2020

This like-new patio home style duplex allowing one floor living with separate garages is the perfect rental or owner occupant property for someone looking for a return on investment. Both units currently rented. Excellent net operating income with landlord expenses limited to taxes, insurance, and lawn/basic maintenance. Open concept kitchen to family room, bright and beautiful interior. Terrific location convenient to both Salem and downtown Roanoke. Taxes, square footage, and expenses estimated by realtor, buyer to verify. You won't want to miss this special duplex opportunity.

Last Agent to Sell the Property

Sarah Goodman

BARKER REALTY CO License #0225068905 Listed on: 02/05/2020

Co-Listed By

David Hurt

WAINWRIGHT & CO., REALTORS(r)- LAKE License #0225211945

Last Buyer's Agent

Nicole Bhowansingh

MURRAY REALTY INC License #0225225884

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,464

Year Built

  • Built in 2003

Lot Details

  • 0.27 Acre Lot

Parking

  • 2 Parking Spaces

Home Design

  • 3,284 Sq Ft Home
  • Duplex
  • Brick Exterior Construction
  • Slab Foundation

Schools

  • East Salem Elementary School
  • Andrew Lewis Middle School
  • Salem High School

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for all utilities

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • Operating Expense $5,164
  • Gross Income $29,100
  • Net Operating Income $23,936

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,464

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Heating System: Heat Pump Electric
  • Type: Multi-Family
  • Has Basement: Slab
  • Cooling System: Central Cooling
  • Major Area: 03 - City of Salem
  • NumberLeasedUnits: 2.00
  • NumberUnfurnished: 2.00
  • NumberVehicleSpaces: 2.00
  • Hoa2 Or Poa: No
  • RatifiedContractDt: 2020-02-06
  • TotalAnnualExpen: 5164.00
  • Water Class: N/A
  • YardSign: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement YN: No

Garage/Parking

  • Parking Description: Other - See Remarks

Utilities

  • Sewer Description: Public Sewer
  • Water Description: Public Water

Schools

  • Elementary School: East Salem
  • Middle School: Andrew Lewis
  • High School: Salem High

Lot Info

  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.27

Building Info

  • Year Built: 2003

Tax Info

  • Taxes (6 mo): 3464.00
  • FILLTAXID: 258-3-9.1

Multi Family

  • Tenant Pays: All Utilities
  • Units In Building: 2.00
  • Multi Family Type: Duplex

MLS Schools

  • Elementary School: East Salem
  • HighSchool: Salem High
  • Middle School: Andrew Lewis

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 5, 2020
Closed on
Mar 3, 2020
Sold by
Mullins Joseph Daniel
Bought by
Rnaz Holdings Hllc
Seller's Agent
Sarah Goodman
BARKER REALTY CO
Buyer's Agent
Nicole Bhowansingh
MURRAY REALTY INC
List Price
$298,500
Sold Price
$298,500
Current Estimated Value
$439,937

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$141,437
Avg. Annual Appreciation
8.82%
Original Mortgage
$253,725
Outstanding Balance
$227,503
Interest Rate
3.6%
Mortgage Type
Credit Line Revolving
Estimated Equity
$244,572

Purchase Details

Closed on
Nov 10, 2011
Sold by
Duncan Debra Lee Mullins and Duncan Lance
Bought by
Mullins Joseph Daniel

Purchase Details

Closed on
Oct 22, 2008
Sold by
Mullins Duncan Debra Lee and Duncan Lance
Bought by
Mullins Duncan Debra Lee and Duncan Lance
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
Rnaz Holdings Hllc $298,500 First Choice Title & Setmnt
Mullins Joseph Daniel -- None Available
Mullins Duncan Debra Lee -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rnaz Holdings Hllc $253,725
Previous Owner Mullins Joseph Daniel $50,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/05/2020 03/05/20 Sold $298,500 0.0% $91 / Sq Ft
02/06/2020 02/06/20 Pending -- -- --
02/05/2020 02/05/20 For Sale $298,500 -- $91 / Sq Ft
Source: Roanoke Valley 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
2024 $1,951 $325,100 $38,100 $287,000
2023 $3,764 $313,700 $35,500 $278,200
2022 $3,698 $308,200 $32,000 $276,200
2021 $3,628 $302,300 $31,000 $271,300
2020 $3,464 $288,700 $31,000 $257,700
2019 $3,299 $274,900 $31,000 $243,900
2018 $3,197 $270,900 $31,000 $239,900
2017 $3,197 $270,900 $31,000 $239,900
2016 $3,197 $270,900 $31,000 $239,900
2015 $3,216 $272,500 $32,500 $240,000
2014 $3,216 $272,500 $32,500 $240,000
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2020

    Sarah Goodman

    BARKER REALTY CO

    (540) 598-6542

    4 in this area

    55 Total Sales

    Section Image
  • David Hurt

    Seller Co-Listing Agent in 2020

    David Hurt

    WAINWRIGHT & CO., REALTORS(r)- LAKE

    (540) 598-9645

    57 Total Sales

    Section Image

  • N

    Buyer's Agent in 2020

    Nicole Bhowansingh

    MURRAY REALTY INC

    (540) 521-5978

    7 Total Sales

    Section Image
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Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 866573

Roanoke Valley Association of REALTORS®

APN: 258-3-9.1

Virginia Salem City County Salem 24153

1602 Cliffview Dr Unit 1604, Salem, VA

This home is located at 1602 Cliffview Dr Unit 1604, Salem, VA 24153 since 05 February 2020 and is currently estimated at $472,075, approximately $143 per square foot. This property was built in 2003. 1602 Cliffview Dr Unit 1604 is a home located in Salem City with nearby schools including East Salem Elementary School, Andrew Lewis Middle School, and Salem 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.

Roanoke Valley 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. Information is deemed reliable but not guaranteed.

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