NOT LISTED FOR SALE

201 E Cherry St Palmyra, PA 17078

Estimated Value: $498,772 - $515,000

Studio
4 Baths
3,840 Sq Ft
$132/Sq Ft Est. Value

Last Sold December 30, 2020

Last sale price $315,000 $82 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $3,170/month

47 Days on Market

Highlights

  • Traditional Architecture
  • No HOA
  • Hot Water Heating System
  • Palmyra Area Senior High School Rated A-
  • 3 Car Detached Garage
  • 3-minute walk to Heritage Park

About This Home

As of December 2020

Exceptional opportunity to own a 4 unit investment property in a residential neighborhood in Palmyra, Lebanon County with off street parking and garages for added income. This 3840 sq.ft 2-story building offers two 1 bedroom units and two 2 bedroom units. Extremely well maintained apartment for low maintenance ownership. Newer windows, Aluminum wrapped windows and soffit, and teak porches. Tenants maintain lawn and hedges. You will not find nicer units in the area. Ample parking, huge yard, solid wood flooring, updated kitchens and bathrooms, and very large units make this building stand out. Units are below market due to good, long-term tenants. Potential to raise rents without additional upgrades. All units occupied... Net income. $26,494 Gross income $40,560. See Docs attached for cost break down. Potential for rent increase. 24 hr notice for showings. Please follow CDC guidelines, wear a mask, practice social distancing, and limit the number of people at showing appointment.

Last Agent to Sell the Property

Joyce Reitz

(717) 273-5501 joycereitz@remax.net RE/MAX Cornerstone License #RS175747L Listed on: 10/23/2020

Last Buyer's Agent

Caleb Kline

(717) 715-6816 caleb@kingswayrealty.com Kingsway Realty - Ephrata

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,891

Year Built

  • Built in 1900

Lot Details

  • 0.37 Acre Lot

Parking

  • 3 Car Detached Garage

Home Design

  • Quadruplex
  • Traditional Architecture
  • Aluminum Siding

Interior Spaces

  • 3,840 Sq Ft Home
  • Basement Fills Entire Space Under The House

Utilities

  • Heating System Uses Oil
  • Hot Water Heating System
  • Oil Water Heater

Listing and Financial Details

  • The owner pays for heat, insurance, sewer, real estate taxes, trash collection, water
  • Assessor Parcel Number 16-2291304-357210-0000

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Income includes apartment rentals
  • Net Operating Income $26,494

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,891

Year Built

Built in 1900

Lot Details

0

Parking

3

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Architectural Style: Traditional
  • Ownership: Fee Simple
  • Home Warranty: No
  • Inclusions: 3 Stoves, 3 refrigerators
  • New Construction: No
  • Year Built: 1900
  • Automatically Close On Close Date: No
  • Special Features: None

Interior Features

  • Fireplace: No
  • Basement: Yes
  • Basement Type: Full
  • Total Sq Ft: 3840
  • Living Area Sq Ft: 3840
  • Price Per Sq Ft: 87.24
  • Above Grade Finished Sq Ft: 3840
  • Above Grade Finished Area Units: Square Feet

Exterior Features

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

Garage/Parking

  • Garage Spaces: 3.00
  • Garage: Yes
  • Number Of Detached Garage Spaces: 3
  • Total Garage And Parking Spaces: 3
  • Type Of Parking: Detached Garage

Utilities

  • Central Air Conditioning: No
  • Previous Twelve Months Electric Expense: 207.00
  • Heating Fuel: Oil
  • Heating Oil Avg Month: 250.00
  • Heating Oil Prev12 Months: 3000.00
  • Heating Type: Hot Water
  • Heating: Yes
  • Hot Water: Oil
  • Sewer/Septic System: Public Sewer
  • Water Previous Twelve Months: 1189.00
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 184200.00
  • Land Assessed Value: 34300.00
  • Lot Size Acres: 0.37
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 16117.00
  • Zoning: RA
  • Zoning Description: Residential Converted To Apartments

Rental Info

  • Ground Rent Exists: No
  • Owner Pays: Heat, Insurance, Sewer, Taxes - Real Estate, Trash Collection, Water
  • Rent Control: No
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 10320066
  • School Tax: 3418.00
  • Tax Annual Amount: 4891.00
  • Assessor Parcel Number: 16-2291304-357210-0000
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020

Multi Family

  • Gross Income: 40560.00
  • Income Includes: Apartment Rentals
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3

MLS Schools

  • School District Name: PALMYRA AREA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 23, 2020
Closed on
Dec 30, 2020
Sold by
Carsten Management Llc
Bought by
Goldmine Realty Llc
Seller's Agent
Joyce Reitz
RE/MAX Cornerstone
Buyer's Agent
Caleb Kline
Kingsway Realty - Ephrata
List Price
$335,000
Sold Price
$315,000
Premium/Discount to List
-$20,000
-5.97%
Current Estimated Value
$506,886

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$191,886
Avg. Annual Appreciation
9.96%

Purchase Details

Closed on
Jan 8, 2018
Sold by
Haldeman John T and Haldeman Ann M
Bought by
Carsten Management Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$21,000
Interest Rate
3.92%
Mortgage Type
Future Advance Clause Open End Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
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

Purchase History

Date Buyer Sale Price Title Company
Goldmine Realty Llc $315,000 None Available
Carsten Management Llc $210,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Carsten Management Llc $21,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/30/2020 12/30/20 Sold $315,000 -6.0% $82 / Sq Ft
12/09/2020 12/09/20 Pending -- -- --
10/23/2020 10/23/20 For Sale $335,000 -- $87 / Sq Ft
Source: Bright 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
2025 $6,244 $218,500 $34,300 $184,200
2024 $5,516 $218,500 $34,300 $184,200
2023 $5,516 $218,500 $34,300 $184,200
2022 $5,262 $218,500 $34,300 $184,200
2021 $4,891 $218,500 $34,300 $184,200
2020 $4,829 $218,500 $34,300 $184,200
2019 $4,726 $218,500 $34,300 $184,200
2018 $4,576 $218,500 $34,300 $184,200
2017 $1,355 $218,500 $34,300 $184,200
2016 $4,296 $218,500 $34,300 $184,200
2015 -- $218,500 $34,300 $184,200
2014 -- $218,500 $34,300 $184,200
Source: Public Records

Agents Affiliated with this Home

  • Joyce Reitz

    Seller's Agent in 2020

    Joyce Reitz

    RE/MAX

    (717) 273-5501

    3 in this area

    20 Total Sales

    Joyce Reitz
    Section Image
  • Caleb Kline

    Buyer's Agent in 2020

    Caleb Kline

    Kingsway Realty - Ephrata

    (717) 715-6816

    22 Total Sales

    Caleb Kline
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: PALN116446

Bright MLS

APN: 16-2291304-357210-0000

Pennsylvania Lebanon County Palmyra 17078

201 E Cherry St, Palmyra, PA

Not Listed for Sale

MultiFamily

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