NOT LISTED FOR SALE

212 S Ivy Ln Butler, IN 46721

Estimated Value: $917,085

40 Beds
48 Baths
17,631 Sq Ft
$52/Sq Ft Est. Value

Last Sold March 16, 2015

Last sale price $492,500 $28 Per Sq Ft

Est. 86% increase in value since last sale

Current estimated payment $5,140/month

Highlights

  • Central Air
  • Level Lot
  • Carpet
  • Laundry Facilities

About This Home

As of March 2015

Eight separate parcels that total 1.896 acres of land. 4 structures totaling 17,631 Square Feet and operated as a garden style apartment complex consisting of 24 units in three buildings, and a separate office/laundry building. Known as Stonebrook of Butler apartments, the property is a mix of one and two bedroom units. 3 surface parking lots. Nearly 100 leased (only 2 vacant at present). About half of the units have been updated and all deferred maintenance items at time of acquisition have now been corrected. More information to come. Water & Sewer - City of Butler, Electric - Indiana Michigan Power.

Last Listed By

Tracee Lutes

RE/MAX Acclaimed Properties Listed on: 02/20/2015

RE/MAX Acclaimed Properties

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1986

Lot Details

  • 1.62 Acre Lot
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof
  • Vinyl Construction Material

Interior Spaces

  • 17,631 Sq Ft Home
  • 2-Story Property
  • Carpet

Bedrooms and Bathrooms

  • 40 Bedrooms

Parking

  • 32 Parking Spaces
  • Public Parking
  • Paved Parking
  • Parking Lot
  • Off-Street Parking

Schools

  • Butler Elementary School
  • East Side Middle School
  • Eastside High School

Additional Features

  • Suburban Location
  • Central Air

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for sewer, water
  • Assessor Parcel Number 17-07-01-326-022.000-027

Community Details

Overview

  • 4 Buildings
  • 24 Units

Amenities

  • Laundry Facilities

Building Details

  • 24 Separate Electric Meters
  • 24 Separate Water Meters
  • Electric Expense $4,098
  • Insurance Expense $3,445
  • Maintenance Expense $33,999
  • Trash Expense $1,446
  • Water Sewer Expense $8,124

Property Details

Home Type

Apartment

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Apartment Complex
  • Year Built: 1986
  • Bedrooms: 40
  • Number Above Grade Bedrooms: 40
  • Total Bathrooms: 48
  • Total Full Bathrooms: 24
  • Total Number of Half Bathrooms: 24
  • Legal Description: Northwood Sec II Lot 21 |
  • Parcel Number ID: 17-07-01-326-022.000-027
  • Platted: Yes
  • Amenities: Off Street Parking
  • Location: City/Town/Suburb
  • Sp Lp Percent: 82.1
  • Zoning Description: Multi-Family Residential
  • Monthly Gross Income: 8807
  • Year Taxes Payable: 2013
  • Special Features: None

Interior Features

  • Total Sq Ft: 17631
  • Total Finished Sq Ft: 17631
  • Above Grade Finished Sq Ft: 17631
  • Price Per Sq Ft: 27.93
  • Basement Foundation: Slab
  • Flooring: Carpet
  • Number Of Disposals: 24
  • Number Of Ranges Ovens: 24

Exterior Features

  • Exterior: Brick, Vinyl
  • Roof Material: Shingle
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 32
  • Parking: Lot, Off Street, Paved, Public

Utilities

  • Cooling: Central Air
  • Heating Fuel: Electricity
  • Sewer: City, Public
  • Water Utilities: City, Public
  • Annual Electric: 4098
  • Annual Insurance Expense: 3445
  • Annual Maintenance Expense: 33999
  • Annual Trash Expense: 1446
  • Annual Water Sewer Expense: 8124
  • Number Electric Meters: 24
  • Number Water Meters: 24

Condo/Co-op/Association

  • Common Amenities: Laundry Facilities

Schools

  • School District: Dekalb Co. Eastern
  • Elementary School: Butler
  • Middle School: East Side
  • High School: Eastside
  • Elementary School: Butler

Lot Info

  • Lot Description: Level
  • Lot Dimensions: Irregular
  • Estimated Lot Sq Ft: 70567
  • Estimated Lot Size Acres: 1.62
  • Lot Number: 21

Rental Info

  • Owner Pays: Sewer, Water
  • Tenant Pays: Electric

Multi Family

  • Gross Monthly Rent: 8807
  • Number Of Dishwashers: 24
  • Number Of Refrigerators: 24
  • Number Of Units: 24
  • Num Of1 Bedrooms: 8
  • Num Of2 Bedrooms: 16
  • Num Of Units Rented: 22

Tax Info

  • Annual Property Tax: 17260

MLS Schools

  • High School: Eastside
  • Middle School: East Side
  • School District: Dekalb Co. Eastern

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 20, 2015
Closed on
Mar 17, 2015
Sold by
Stonebrook Butler Llc
Bought by
Ivy Lane Apartments Llc
Seller's Agent
Tracee Lutes
RE/MAX Acclaimed Properties
Buyer's Agent
BLOOM NonMember
NonMember BL
List Price
$599,900
Sold Price
$492,500
Premium/Discount to List
-$107,400
-17.9%
Total Days on Market
0
Current Estimated Value
$917,085

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$424,585
Avg. Annual Appreciation
6.45%
Original Mortgage
$369,375
Outstanding Balance
$298,912
Interest Rate
4.75%
Mortgage Type
Commercial
Estimated Equity
$630,317

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 Buyer Sale Price Title Company
Ivy Lane Apartments Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ivy Lane Apartments Llc $369,375
Previous Owner Stonebrook Butler Llc $240,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/16/2015 03/16/15 Sold $492,500 -17.9% $28 / Sq Ft
02/20/2015 02/20/15 Pending -- -- --
02/20/2015 02/20/15 For Sale $599,900 -- $34 / 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 $671 $24,100 $3,400 $20,700
2023 $671 $25,600 $3,400 $22,200
2022 $606 $24,900 $3,400 $21,500
2021 $608 $24,400 $3,400 $21,000
2020 $447 $16,500 $3,400 $13,100
2019 $431 $16,500 $3,400 $13,100
2018 $447 $16,500 $3,400 $13,100
2017 $512 $19,300 $3,400 $15,900
2016 $517 $19,200 $3,400 $15,800
2014 $280 $9,700 $3,400 $6,300
Source: Public Records

Agents Affiliated with this Home

  • Tracee Lutes

    Seller's Agent in 2015

    Tracee Lutes

    RE/MAX

    (812) 323-7300

    273 Total Sales

    Tracee Lutes
    Section Image

  • B

    Buyer's Agent in 2015

    BLOOM NonMember

    NonMember BL

See All Agents

Map

Source: Indiana Regional MLS

MLS Number: 201510973

Indiana Regional MLS

APN: 17-07-01-326-022.000-027

Indiana Dekalb County Butler 46721

212 S Ivy Ln, Butler, IN

Homes for Sale in Butler, IN

This home is located at 212 S Ivy Ln, Butler, IN 46721 since 20 February 2015 and is currently estimated at $917,085, approximately $52 per square foot. This property was built in 1986. 212 S Ivy Ln is a home located in DeKalb County with nearby schools including Eastside Junior/Senior 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.

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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