NOT LISTED FOR SALE

1642 Mineral Spring Rd Reading, PA 19602

District 8 Neighborhood
-- Bed
3 Baths
2,538 Sq Ft
2,178 Sq Ft Lot

Last Sold July 05, 2024

Last sale price $250,000 $99 Per Sq Ft

6 Days on Market

Highlights

  • Built-In Features
  • Radiant Heating System
  • 3-minute walk to 16th & Haak Playground
  • Carpet

About This Home

As of July 2024

OFFER DEADLINE SUNDAY 6PM 6/2/24 Well maintained stone front, three unit, end of row. Same owner for the last 40 years. Newer roof and heating system. Four separate electric services. Low rents and remote management offer much upside to this in demand investment. All the units have large rooms, high ceilings and offer comfort, with plenty of natural light, enhancing demand and occupancy for these units. This could be a great owner occupied investment. Exterior recently painted, newer roof, with attention to maintenance by the owner throughout their ownership.

Last Agent to Sell the Property

Greg Werner

RE/MAX Of Reading License #RS227596L Listed on: 05/28/2024

RE/MAX Of Reading

Co-Listed By

Christine Werner

RE/MAX Of Reading License #RS-196719-L

Last Buyer's Agent

parul khanna

Daryl Tillman Realty Group License #RS366157

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,745

Year Built

  • Built in 1905

Lot Details

  • 2,178 Sq Ft Lot

Parking

  • On-Street Parking

Home Design

  • Triplex
  • Brick Exterior Construction
  • Stone Foundation

Interior Spaces

  • 2,538 Sq Ft Home
  • Built-In Features
  • Carpet
  • Basement Fills Entire Space Under The House

Utilities

  • Radiant Heating System
  • Oil Water Heater

Listing and Financial Details

  • The owner pays for electricity, gas, heat, management, lawn/shrub care, insurance, repairs, sewer, real estate taxes, water
  • Tax Lot 3962
  • Assessor Parcel Number 5316-06-48-3962

Community Details

Overview

  • 3 Units

Building Details

  • Income includes apartment rentals
  • Insurance Expense $1,300
  • Maintenance Expense $1,000
  • Manager Expense $2,460
  • Operating Expense $13,119
  • Gross Income $19,223
  • Net Operating Income $6,104

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,745

Year Built

Built in 1905

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Triplex
  • Structure Type: Interior Row/Townhouse
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1905
  • Automatically Close On Close Date: Yes
  • Remarks Public: OFFER DEADLINE SUNDAY 6PM 6/2/24 Well maintained stone front, three unit, end of row. Same owner for the last 40 years. Newer roof and heating system. Four separate electric services. Low rents and remote management offer much upside to this in demand investment. All the units have large rooms, high ceilings and offer comfort, with plenty of natural light, enhancing demand and occupancy for these units. This could be a great owner occupied investment. Exterior recently painted, newer roof, with attention to maintenance by the owner throughout their ownership.
  • Special Features: None

Interior Features

  • Interior Amenities: Built-Ins, Carpet
  • Fireplace: No
  • Foundation Details: Stone
  • Basement: Yes
  • Basement Type: Full
  • Total Sq Ft: 2538
  • Living Area Sq Ft: 2538
  • Price Per Sq Ft: 94.52
  • Above Grade Finished Sq Ft: 2538
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1642

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Natural Gas
  • Heating Type: Radiant
  • Heating: Yes
  • Hot Water: Oil
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Professional Management Expense: 2460.00
  • Association Recreation Fee: No

Schools

  • School District: READING
  • School District Key: 300200397169
  • School District Source: Listing Agent

Lot Info

  • Land Use Code: 138R
  • Lot Size Acres: 0.05
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 2178.00
  • Year Assessed: 2023
  • Zoning: RES

Rental Info

  • Ground Rent Exists: No
  • Owner Pays: Electricity, Gas, Heat, Management, Lawn/Shrub Care, Insurance, Repairs, Sewer, Taxes - Real Estate, Water
  • Rent Control: No
  • Total Actual Rent: 19223.00
  • Units Leased Count: 3
  • Vacation Rental: No

Tax Info

  • School Tax: 1126.00
  • Tax Annual Amount: 2745.00
  • Assessor Parcel Number: 5316-06-48-3962
  • Tax Lot: 3962
  • Tax Total Finished Sq Ft: 2538
  • County Tax Payment Frequency: Annually
  • Tax Year: 2023
  • Close Date: 07/05/2024

Multi Family

  • Gross Scheduled Income: 19223.00
  • Income Includes: Apartment Rentals
  • Operating Expense: 13119.00
  • Other Units: Unit 1,Unit 2,Unit 3

MLS Schools

  • School District Name: READING

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
07/05/2024 07/05/24 Sold $250,000 +4.2% $99 / Sq Ft
06/03/2024 06/03/24 Pending -- -- --
05/28/2024 05/28/24 For Sale $239,900 -- $95 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Greg Werner

    Seller's Agent in 2024

    Greg Werner

    RE/MAX of Reading

    (610) 781-9055

    1 in this area

    40 Total Sales

    Section Image
  • Christine Werner

    Seller Co-Listing Agent in 2024

    Christine Werner

    RE/MAX of Reading

    (610) 823-1866

    1 in this area

    175 Total Sales

    Section Image

  • p

    Buyer's Agent in 2024

    parul khanna

    Daryl Tillman Realty Group

    (484) 769-3718

    1 in this area

    30 Total Sales

    Section Image
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Map

Source: Bright MLS

MLS Number: PABK2043562

Bright MLS

APN: 5316-06-48-3962

Pennsylvania Berks County Reading 19602 District 8

1642 Mineral Spring Rd, Reading, PA

This home is located at 1642 Mineral Spring Rd, Reading, PA 19602 since 28 May 2024. This property was built in 1905. 1642 Mineral Spring Rd is a home located in Berks County with nearby schools including 16th & Haak Elementary School, Central Middle School, and Reading Senior High School.

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